By Tony Laudato, Vice President, Partnership Solutions Hannover Re The continued decline of standalone long-term care policies seems inevitable, and the life insurance gap among Americans continues to widen. Hybrid policies offer an obvious solution, and are becoming increasingly popular – but the right approach will be needed for insurers to fully cast off their […]
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Assistant Vice President/Media Editor υAs the baby boomer generation retires, and life expectancies increase, many have questions about whether they will have enough money to last throughout their golden years. Health care and nursing home costs can be substantial. In many cases, gone are the […]
New York, N.Y.—Starr Insurance Companies today announced that Starr’s construction experts received the Insurance Underwriting Team of the Year Award at Business Insurance’s U.S. Insurance Awards on March 21. Starr received the award for its September 2018 launch of Starr CIP Enterprise, a mono-line general liability construction wrap-up insurance policy sold through a small and […]
ALBANY, N.Y.—The New York State Supreme Court in Albany ruled in favor of a consolidation motion filed by the Professional Insurance Agents of New York State and Big I New York in the ongoing lawsuit over amendments to New York State Department of Financial Services (DFS) Insurance Regulation 187. The court granted a motion to […]
Random No Longer Rules: Premonition Analytics and the New Normal in Claims Management In just a few short years, big data and analytics have fundamentally shifted the way claims departments litigate claims. How are these technologies changing how experts assess risk in the courtroom? In the movies, plucky heroes are forever setting off to solicit […]
Imagine if gun owners in New York are legally required to carry liability insurance? Well, the New York State Senate seeks to impose this requirement by way of Senate Bill S2857A. In fact, if implemented into law, gun owners would be required to purchase one million dollars of liability insurance, and to continuously maintain such […]
1011 Fake Claims Results in more than $500,000 Penalty When a chiropractor is caught billing insurers for services not performed he should never fail to appear to defend himself at an administrative hearing. Of course, if he or she has no defense delay is possible but dangerous. In The Matter Of Proceedings By The Commissioner […]
B.Z. Chiropractic, P.C. v Allstate Ins. Co. In this declaratory judgment action arising out of a No-Fault suit, the Court rules that plaintiff’s delay of 14 years in enforcing a judgment it obtained in 2001 does not toll the accumulation of interest at 2% per month, compounded, as per the Insurance Department regulations in effect […]
By Marilyn M. Singleton, M.D., J.D. A couple of years ago, computer programs, algorithms, and glorified Google searches were touted as the replacements for a physician’s analysis of a patient’s medical condition. Compressed medical research is quite useful for clinicians who are presented with novel situations and have no readily available colleagues with whom to […]
The cannabis business continues to expand throughout the United States with 33 states that allow some use of medical cannabis, 10 states that allow adult use of cannabis and most others that allow for limited medical use of CBD (cannabidiol). In fact, only four states bar the use of all cannabis products. While the federal Controlled Substances Act (CSA) continues to identify cannabis as a Schedule I drug, the Obama and Trump administrations have ushered in an era that provides some assurance to the cannabis industry that personal use of marijuana and operation of state-regulated cannabis businesses will not be the targets of federal prosecution. In turn, the expansion of the legal cannabis industry requires that it be able to manage risk through insurance for property and liability losses.
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