News of the appointment applauded by industry association leaders News that the U.S. Senate confirmed Thomas Workman as the independent voting member on the Financial Stability Oversight Council – with insurance expertise – was greeted in New York and in many insurance C -suites across the country with great pleasure. Tom Workman has been an […]
The Empire Center has updated its on-line Spend-O-Meter to reflect the record size of New York’s newly enacted $168.3 billion budget for fiscal 2019. As of April 1st, the fast-spinning Spend-O-Meter shows, the state government is spending at a rate equivalent to: • $5,336 per second, • $320,205 per minute, • $461,095,890 per day, • […]
It’s been quite a long time since I had the opportunity to sit with someone, other than friends and family, and help them understand how to use insurance to protect the things they treasure. Candidly I miss it! That may sound funny to those of you that get to do this everyday and some of […]
Proliferation of Disputes By Donald DeCarlo, Esq. The workers’ compensation policy, referred to as the “standard policy” is used in all states with the exception of the four exclusive fund states of North Dakota, Ohio, Washington and Wyoming. In the majority of states, the National Council on Compensation Insurance (NCCI) files the standard policy with […]
This Distracted Driving Awareness Month (April), insurtech company The Zebra launched comprehensive research about the insurance consequence to distracted driving. The findings reveal that distracted driving penalties are up nearly 8,000% since 2011, among other surprising stats, especially as how these penalties compare to DUI penalties. In 2011, a ticket for texting or using your […]
By Marilyn M. Singleton, M.D., J.D. Some pundits blamed algorithmic trading for the stock market’s recent wild ride. “Algo-trading” relies on computers programmed to follow defined instructions for placing trades. For example, the computer buys 50 shares of stock when its 50-day moving average goes above the 200-day moving average. Period. Algo-trading was popularized as […]
By Robert Walker Lewis, Esq., Keidel, Weldon & Cunningham, LLP through Big I New York and IAAC, Inc. Many independent insurance agencies and brokerages rely upon customer service representatives (CSRs) and other unlicensed employees to assist in their day-to-day operations. As a result, our clients will often ask us what tasks their unlicensed CSRs may […]
Pollution Exclusion Is Conspicuous, Plain and Clear Insurance lawsuits abound like then ten plagues Moses imposed on Egypt. Insurers spend hundreds of hours and millions of dollars to write their policies in a way that they only take on the risks of loss they intend to take on and clearly, conspicuously, plainly and clearly exclude […]
Forest Park Acupuncture, P.C. v NYCT MABSTOA Edited by Lawrence N. Rogak In this PIP suit, both plaintiff and defendant moved for summary judgment. The motion was resolved, as often happens, with an order stating that the plaintiff’s motion was only “granted to the extent” that plaintiff had established its prima facie case. The usual […]
GLENMONT, N.Y.—The Pro-fessional Insurance Agents of New York State is pleased to have defeated a proposal to enact massive and unwarranted penalty increases for violating the state’s Insurance Law, while protecting insurance consumers against insurance adjusters who are convicted of felonies, both of which were proposed originally in the executive budget. The budget proposal for […]
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