2018
2018 Issues - Click to View
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Digital is Disrupting Insurance
Insurance Advocate Cover Story
Transform Your Infrastructure to Win in the Digital World Customer obsession is the driving force for digital transformation in every industry. However, some industries, such as finance/insurance, have decades of legacy technology they must evolve to become more agile and customer-engaged. Third parties can assist these efforts with significant experience and expertise. In 2017, Ensono […]
Hello…I Must Be Going
So Aetna is NOT moving to New York after all. Wonder why. Couldn’t be taxes, unusual level of regulation, city’s grinding gridlock grids of congestion, the new degree of filth in the streets, homeless getting aggressive, taxes, high costs of doing business, over the top regulation, and did I mention taxes? No, they are staying […]
LICONY Celebrates 50 Years
The Life Insurance Council of New York (LICONY) celebrated the Association’s 50th anniversary with a dinner at Mutual of America’s headquarters in Manhattan. LICONY members were joined at the event by Department of Financial Services (DFS) Superintendent Maria T. Vullo, Assembly Majority Leader Joseph Morelle, Chair of the Senate Insurance Committee James Seward, Chair of […]
The Times, They Are a Changin’
We live in interesting times. While I have been thinking about this column, I’ve noted a dramatic story on the news: The recent shooting at Parkland High School in Florida. Pundits, politicians and even corporate entities have weighed in on the issue of gun control, school safety and mental health. These voices aren’t surprising, as […]
PIANY’s MetroRAP
Agents Gather in Manhattan for ‘18 RAP Hundreds of insurance professionals filled the grand rooms of the Roosevelt Hotel, in Manhattan, for PIANY’s Metropolitan Regional Awareness Program on Jan. 25. With a schedule full of valuable continuing-education sessions, networking opportunities and a packed trade show, it was the place to be for all greater New […]
Proof of Mailing Sufficient to Effect Cancellation
Court Trusts the United States Postal Service For an insurance contract to exist consideration – premium – must be paid. When an insured fails to pay the premium as required by the policy the insurer had the unquestioned right to cancel the policy it had issued. State legislatures, like that of the state of New […]
Peer Report Defeats Pip Pain Cream Charges
Value Care Pharmacy, Inc and Allstate Insurance Company AAA Case No. 17-17-1053-2955 (Eileen Casey, arbitrator) Award date: 02/28/2018 The issue in this PIP arbitration was: Whether Applicant is entitled to no-fault reimbursement for compound pain cream denied based on a peer review? The original amount claimed was $2,077.47 for compound pain cream provided on October […]
“Coverage” Isn’t “Care”
By Dr. G. Keith Smith If you are following health-related topics on social media you have likely encountered “coverage is not care,” as a theme or #hashtag. This phrase/quip should be viewed as an opportunity and lens through which the dysfunction of the crony-dominated “healthcare system” in this country can be viewed. Not only is […]
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Cyber Security: Payroll Phishing Threat Grows
Beazley’s 2018 Breach Briefing Reveals the Rapidly-Changing Cyber Risk Landscape Cyber extortion, payroll diversion phishing attacks and fraudulent wire instruction are among the growing threats to business highlighted in the 2018 Breach Briefing, a report published today by specialist insurer Beazley. The trends described in the report draw on information deriving from the 2,500 data […]
Milestones Marked
Paul Robert Olshen (pictured right), former leader of the CIBGNY and scion of an insurance family that included his father Henry, also a past leader of CIBGNY, passed away on March 1st. A native of Brooklyn and a graduate of Erasmus Hall High School and NYU “in the heights,” he was a proud member of […]
PIACT Names Shippee Committee Chairperson of the Year for Second Consecutive Year
HARTFORD, Conn.—The Pro-fessional Insurance Agents of New Connecticut Inc. has named Nathan L. Shippee, Committee Chairperson of the Year for the second consecutive year on March 8, during its annual business meeting at the PIACT Annual Convention at Foxwoods Resort Casino in Mashantucket, Conn. Shippee is vice president of sales & marketing of Workers’ Compensation […]
It’s Finally Here!
It seemed like it never might happen, at least during my working life. Maybe for personal insurance but not for small commercial prospects including start-ups. There were just too many players unwilling to give up their proprietary information to agree on a simplified underwriting platform that would allow for a multi-line quote from multiple companies […]
Physicians Sue Over Monopolistic MOC®
By Alieta Eck, M.D. The Back Story Before 1990, American physicians who had completed three years or more of rigorous training in a specialty and passed an examination were awarded lifetime “board certification.” The only exception was the family practice board, which has always issued only time-limited certificates. After 1990, all member boards of the […]
Failure to Sue Promptly Destroys Bad Faith Suit
Failure to Sue Within Policy’s Limitation Provision Fatal to Suit As I have said multiple times: “insurance is nothing more than a contract.” It is, also, a contract of the utmost good faith that devolves equally on the insurer and the insured. In that regard the insured is required to fulfill the conditions of the […]
Claimant Must Inform Insurer It Does Not Have Requested Verification Items, or Face Denial of Claim
Medex Pharmacy v State Farm Mutual Automobile Insurance Company Edited by Lawrence N. Rogak ?The crucial issue in this PIP arbitration is whether a claimant must respond to an insurer’s request for verification, when the items requested are not in the claimant’s possession. The Applicant seeks $1,350.67 for a compound cream dispensed to the injured claimant. According […]
Insurance Industry Responses to Weather
Guest Author
Advertorial, MSO Inc.
There is an old saying that you cannot change the weather. However, the insurance industry can and does change how it responds to weather-related events. These responses include modifications of policy conditions, such as exclusions and special deductibles, and use of new technology including drones, storm tracking and measurement tools. In addition to deductibles and […]
Big I Legislative Position Paper Aims at Serious Change
New York’s Big I has issued its annual position paper. Here are highlights. WORKERS’ COMPENSATION IIAA Supports Increasing the Payroll Threshold for Employers Subject to the Workplace Safety and Loss Prevention Program υThe Workplace Safety and Loss Prevention Program was created in 1997 by statute to reduce workplace injuries and lower Workers’ Compensation costs for […]
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Ladies Who Lunch: IBANY Packs the House at Inaugural Women Executives’ Event
Nearly 100 people braved the latest winter storm on Thursday, March 22nd, to attend “Breaking Through & Moving Up: A Panel Discussion Featuring Women Executives” presented by the Insurance Brokers’ Association of the State of New York (IBANY) at The Down Town Association in New York City. Panelists at IBANY’s debut women’s luncheon – a […]
What Do Home Run Hitters Hit? Homers.
In a season that will have a 21st Century Murderers’ Row coming off the Yankee bench (Stanton, Judge, Sanchez and the rest), Hank Greenberg has managed to make his way onto the line up card. Starr Companies, a his global insurance and investment organization, has entered into a multi-year sponsorship agreement with the New York […]
Why Labor Must Be Depreciated to Find ACV
The Supreme Court concluded that the term “ACV” is unambiguous and that depreciation of labor does not lead to underindemnification and failure to depreciate labor would result in overindemnification.
Burden of Proof is On Insurer to Show That Provider Failed to Respond to Verification Requests
In this no-fault suit, the Appellate Term holds that where the insurer’s defense is that the plaintiff failed to respond to verification requests, the burden of proof at trial is on the insurer to show that the verification remains outstanding.—LNR
PIANY Legislative Agenda Gets Boost From Senate Action
The Professional Insurance Agents of New York State has focused upon several issues in its Position Paper – in play now as the Budget appears completed and the session turns to other legislation. As we go to press, PIANY is thanking Sen. James L. Seward, R-51, and the state Senate for passing S.3960/A.7012, a bill […]
CyberCube Analytics Provides the First Inside-Out View of Risk Exposure for the Cyber Insurers
“Cyber is one of the most important risks facing society in the 21st century and therefore it is one of the most important risks facing the insurance industry.”
– Pascal Millaire, CEO of CyberCubeNew York Extends Time to File Malpractice Claim
By David E. Richman and Ada Kozicz Governor Andrew Cuomo has signed a new law, known as “Lavern’s Law,” that extends the amount of time a patient has to file a medical malpractice claim for a missed cancer or malignant tumor diagnosis. Patients now have 2 1/2 years to file a claim from the date the misdiagnosis […]
Diagnosis: Dereliction of Duty is the Disease
Physicians have a legal and ethical duty to carryout a proper diagnostic evaluation of their patients, and only then recommend treatment.
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2017/ November 13/ Past Issues
IFNY Honors Case, McRaith
275 Gather at New York’s Historic Union League Club to Honor Aon Leader and Former FIO Director Cecilia Norat recognized; IFNY interns applauded More than 250 insurance leaders joined in the Insurance Federation of New York’s (IFNY) 103nd Annual Award Luncheon honoring Gregory Case, President and CEO, Aon, as he received the Federation’s 2017 Free […]
2017/ November 13/ Past Issues
Some Might Call It Frivolous
It is a case that offered Applied Underwriters (AUW), a kind of “proof of concept” as a U.S. District Court Judge, Eastern District, California, tossed out allegations in a suit that had argued that the company, a leading, national workers’ compensation insurer, acted to defraud clients who purchased workers’ comp coverage using the Company’s widely […]
2017/ November 13/ Past Issues
PIANY President on Industry Challenges, Perpetuation
During his address at PIANY’s Hudson Valley Regional Awareness Program in Fishkill, N.Y., on Oct. 26, PIANY President Fred Holender CPCU, CLU, ChFC, MSFS, discussed the unchanging challenges of the industry: “We have experienced quite an evolution in our business. Although the tools we use to conduct business have changed dramatically, the challenges we face […]
2017/ November 13/ Past Issues
Israel Bonds’ Annual Insurance Division Luncheon Results in $55.5 Million in Investments
Development Corporation for Israel/Israel Bonds, the underwriter of debt securities issued by the State of Israel in the United States, held its Insurance Division Luncheon this month. The annual event drew more than 250 industry professionals to the St. Regis Hotel in New York, and brought in $55.5 million in Israel bond investments and indications […]
2017/ November 13/ Past Issues
Viaña Receives Distinguished Insurance Service award from PIANY
GLENMONT, N.Y.—J. Carlos “Shawn” Viaña of Latham received Professional Insurance Agents of New York’s Distinguished Insurance Service award at the association’s Hudson Valley Regional Awareness Program. This award is presented to an individual with a history of service to the American independent agency system and to PIANY. Viaña is senior vice president of Marshall & […]
2017/ November 13/ Past Issues
Time for Digital
By Giuliano Altamura, Financial Services Business Unit Manager, Fincons Group It is becoming increasingly evident that the insurance industry has fallen behind when it comes to adoption of digital services. This fact is widely recognised by most executives in the insurance ecosystem, with out-of-date front-end interfaces and inflexible back-end and legacy systems already having a […]
2017/ November 13/ Past Issues
Duty to Disclose Disciplinary Actions and Criminal Prosecutions
Numerous recent New York State Department of Financial Services (“DFS”) penalties against licensees involve a failure to disclose on DFS applications actions taken in other jurisdictions or failures to timely report administrative actions or criminal prosecutions by other agencies. By way of background, New York Insurance Law § 2110(i) requires a licensee to “report to […]
2017/ November 13/ Past Issues
Cloud 101 for Insurance Agencies: Lingo You Need to Know
By Adam Stern Underwriting insurance is tough enough; most agencies would prefer not to wade into the fog of IT, especially given just how obtuse the tech world has become. For those insurance brokers making the shift from an in-house solution to the cloud, getting the language right is Job #1. Familiarizing yourself with some […]
2017/ November 13/ Past Issues
The Temptation of Fraud
Innocent Young Lawyer Falls into Fraud Trap In California, a person can pass the Bar Exam and practice law even if he or she does not attend law school or attends a non-ABA accredited law school. Finding employment with a law firm is almost impossible for young lawyers who did not attend a prestigious law […]
2017/ November 13/ Past Issues
No-Fault Arbitrator Finds No Right to Privacy in Claimant’s Medical Records
In the Matter of the Arbitration between Kingsway Orthopedic PC and Liberty Mutual Insurance Co. AAA Case No. 412009003445, AAA Assessment No. 17 991 04024 09 (Claim File No. LA2030097816970) (Laura A. Yantsos, Esq., arbitrator) Edited by Lawrence N. Rogak [Continuing] on the theme of whether HIPAA authorizations should be required in no-fault claims, this particular arbitration […]
2017/ November 13/ Past Issues
Platitudes and Glittering Generalities
By Marilyn M. Singleton, M.D., J.D. We are living in strange times. Virtual money, virtual friends, virtual reality. And regrettably, we are currently burdened with virtual leaders and virtual health insurance coverage. Last month’s Gallup poll revealed that by a huge margin the “most important problem facing the country today” was dissatisfaction with the government. […]
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Worrisome: Eight in Ten Worry About Financial Safeguards
Another day, another data breach. Recent news about cybercriminals obtaining more than 5 million credit card numbers from high-end U.S. retailers joined a series of major hacks and online data breaches. In 2017 alone, roughly 143 million U.S. adults, were hit by some form of malware, virus, spyware or phishing scam. Unfortunately, the frequency of […]
Distracted from Distraction by Distraction
If National Distracted Driving Awareness Month—April—wasn’t already enough to get the attention of drivers who habitually text, mess with the radio, or eat while driving, maybe some stats will get the message across. Just this morning on the East Side in heavy traffic a woman was getting made up, talking to some one on a […]
PIANY’s 2018 Long Island RAP
Hundreds of industry pros flocked to Long Island for PIANY’s 43rd annual Long Island RAP, April 25, 2018, at Crest Hollow Country Club in Woodbury, Long Island. The event has built a reputation as the highest caliber event in the area for networking; recognizing the industry’s best professionals; and for unparalleled continuing education. An expansive […]
Are You Ready to Take on the NAIC’s New Rules?
Guest Author
regulatory update
By Sam Abadir, Lockpath For security and compliance professionals, the announcement of new regulatory standards can be a stark reminder that the to-do list is long and the day is short. But organizations that employ careful preparation and concerted, coordinated efforts through mature governance, risk management, and compliance (GRC) processes face new rules and standards […]
MetLife’s Esther Lee to be Inducted into American Marketing Association NY’s Marketing Hall of Fame®
“Future of Marketing” to be the subject of inductee presentations at May 17, 2018 induction ceremony at offices of R/GA in New York. The American Marketing Association New York announced that Esther Lee, executive vice president, global chief marketing officer, MetLife, Inc., is one of three business leaders responsible for outstanding contributions to the field of […]
Sham Affidavit Fails to Defeat Summary Judgment
Insured May Not Lie to Avoid Summary Judgment No one likes to have an insurance claim denied even if the insurer has a good reason for denying the claim. In litigation, as in every aspect of insurance, both parties to the insurance contract owe an obligation to deal fairly and in good faith with each […]
Interest Will Not Be Tolled for Delay Without Proof That Plaintiff Caused the Delay
Eagle Surgical Supply, Inc. v Country-Wide Ins. Co. Edited by Lawrence N. Rogak At the conclusion of trial in 2015 in this PIP suit filed in 2007, Defendant requested that interest be tolled because of the long delay in bringing the case to trial. The Appellate Term held that interest does not get tolled in […]
Sterling Risk Insurance CEO David Sterling Named to Long Island Press Power List
Annual recognition celebrates the 50 most influential Long Islanders; Sterling was Insurance Advocate’s Agency of the Year 2014 Woodbury, N.Y.—David Sterling, CEO of SterlingRisk Insurance, one of the nation’s leading independently owned insurance brokerage firms, has been named to the Long Island Press Power List. An annual recognition of the “50 most influential Long Islanders” […]
Patients and Physicians Unite: You Have Nothing to Lose but Your Chains
By Marilyn M Singer, M.D., J.D. In an entertainment venue called the “Escape Room,” participants are locked inside a themed adventure room, and they must figure out how to escape. Themes include prisons, KGB interrogation, and hostage situations. Perhaps a new theme could be ObamaCare. Despite a large majority of Americans reporting healthcare as their […]
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Cmsv’s Top Award to Applied’s Steve Menzies
Today, Applied Underwriters remains the only US Workers’ Compensation insurer—ever—to hold an A+ rating for performance, security and stability…and the capacity to provide real care. The College of Mount Saint Vincent continued its tradition of honoring leading financial services executives as the 171 year old Bronx, NY based College presented its top award to Steve […]
Bright and Good
Brightway Insurance has opened five new stores this month. While they are down South for now, this enterprise bears attention. Brightway President Talman Howard claims: “We offer a turnkey business solution that helps Franchise Owners realize their dream of business ownership with the support of a national brand.” Brightway Agency Owners receive comprehensive business support […]
Big I New York Honors Industry Role Models
Awards presented at insurance producer organization’s annual meeting Insurance producer organization Big I New York spotlighted excellent performances over the past twelve months by insurers, a local trade group, volunteers and associates during an annual awards ceremony held. Acting for the final time in his capacity as Big I New York chair of the board, Richard […]
The Sky Isn’t Falling, We are Merely Evolving
So much of what you read today is about the impending demise of the independent agent and their long standing system of providing individuals, families and businesses appropriate and effective insurance protection. Disrupters are entering the marketplace who are leveraging technology to significantly speed up the process and replace many of today’s insurance workers with […]
Atti Elected Big I New York Chair of the Board
Top elected officer chosen at group’s Annual Business Meeting Insurance producer trade organization Big I New York elected Louis Atti, CPCU, as its chair of the board for the 2018-19 term. Atti was sworn in during a ceremony following Big I New York’s Annual Business Meeting, held at The Westin Buffalo. Atti is vice-president of […]
Mandates: the Other Side of the ‘Right to Healthcare’
υA “right to healthcare” is a seductive idea that many Americans accept without thinking. But we need to take a closer look at what this means. The total program being pushed by “right-to-healthcare” cheerleaders—primarily Democrats—is full of mandates. A mandate means you have NO right to opt out, except possibly through some limited exemptions. It […]
Court of Appeals Rules That PIP Statute of Limitations is Three Years for All Self Insurers
Contact Chiropractic, P.C. v New York City Tr. Auth. Edited by Lawrence N. Rogak Resolving a long-standing split between the First and Second Departments, the Court of Appeals holds that the statute of limitations on a No-Fault claim against a self-insured entity is three years from the date of loss. This decision is a boon […]
Sham Affidavit Fails to Defeat Summary Judgment
Insured May Not Lie to Avoid Summary Judgment No one likes to have an insurance claim denied even if the insurer has a good reason for denying the claim. In litigation, as in every aspect of insurance, both parties to the insurance contract owe an obligation to deal fairly and in good faith with each […]
Insurance Issues For Child Day Care
Guest Author
Advertorial, MSO Inc.
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Assistant Vice President/Media Editor Children are our most important resource. They are also our most vulnerable citizens, needing and deserving the best care possible. When parents work, quality, affordable child care is extremely important. Day care is a growing industry. Insuring day care centers requires […]
Spotting the Spoofers
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Assistant Vice President/Media Editor, MSO, Inc. There probably is nothing much more annoying than having dinner interrupted by a telemarketer trying to sell you a “free” vacation. Even worse, they may purport to be from a government or law enforcement agency, and tell you that […]
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MANE CONCERN: Horse Sense Averts Exposures, Disasters
By Rebecca Hunt, Senior Risk Manager, AIG Private Client Group Recent weather catastrophes in the US have had devastating impacts on horses and horse properties. Hurricane Harvey affected hundreds of horses in the Houston area due to the storm itself and subsequent flooding. In December 2017, twenty-five racehorses were killed when a wildfire engulfed […]
New Heights, but Some of the Same Lows
New York’s infrastructure is, well, losing its structure. The $13 billion Gateway rail tunnel project under the Hudson River has lost some of its steam. Taxpayers will pay millions unless the outdated “scaffold law” is repealed. While New York and New Jersey struggle to arrive at a formula for funding, Gateway is stymied by a […]
PIANY Meets with State Lawmakers
ALBANY, N.Y.—The Professional Insurance Agents of New York State met with lawmakers at their Albany offices during the association’s Albany Lobby Day, May 15, 2018. PIANY President Fred Holender, CLU, CPCU, ChFC, MSFS, of Williamsville; President-elect Jamie Ferris, CIC, AAI, CPIA, of Lansing; Vice President John Tomassi, CPCU, of Clifton Park; and PIA National Director […]
PIANJ to Honor Iannello as Company Person of the Year
ATLANTIC CITY.—John J. Iannello, CPCU, regional underwriting manager for Merchants Insurance Group will be awarded the New Jersey Professional Insurance Agents Company Person of the Year at its Annual Conference held at Harrah’s Resort and Casino in Atlantic City, June 10-12. Nominated by PIA member agents, this award is presented to an individual who fosters […]
Smart Communications Making Customer Conversations Smarter
Spring 2018 Release Includes Launch of Conversation History, User Experience Enhancements, the Next Evolution of Smart Components and More Smart CommunicationsTM, the only independent company focused solely on enterprise customer conversations, has released the latest version of its customer communications management solutions. Many of the enhancements support the company’s new Conversation Cloud framework, which is […]
Chubb Adds Dental Malpractice to its Small Commercial® Platform
Chubb and The Doctors Company are now offering dental malpractice insurance to dental professionals through Chubb’s Small Commercial Marketplace®. Specifically designed for general dentists, endodontists, oral and maxillofacial surgeons, orthodontists, periodontists, prosthodontists and other dental specialists, the Doctors Company policy provides dental malpractice coverage that also insures against cyberattacks and data breaches, HIPAA violations, and […]
Scott M. Purviance Appointed CEO of AmWINS Group, Inc.
AmWINS Group, Inc. (“AmWINS”) announced that Scott M. Purviance (pictured right) has succeeded M. Steven DeCarlo as the company’s Chief Executive Officer. As CEO, Purviance will focus on continuing to build upon the firm’s foundation focused on growth, diversification and technology. Prior to taking on his role as Chief Operating Officer, Purviance served as Chief […]
New York Auto Insurance Now Automatically Includes Supplementary Uninsured/Underinsured Motorists Coverage, Per New Law
by Anthony D. Dodge Last September, a drunk driver in Syracuse collided with a sedan carrying a 49 year-old man and his adult stepson. The father died at the scene; the son died a few hours later. The drunk driver carried Bodily Injury (BI) Liability insurance coverage with the state minimum limits of $50,000 for […]
Does Your Medical Licensure Board Protect You?
By Jane D. Orient, M.D. A bill that would give doctors the right to defend themselves if brought before the state licensure board, the Louisiana State Board of Medical Examiners (LSBME), was heard in the Louisiana state House of Representatives on May 2. If it passes, doctors could find out exactly what they’re accused of, […]
No Good Deed Goes Unpunished
Fourth Circuit Stops Asbestos Bleeding After Aggregate Limit is Exhausted υAsbestos litigation has destroyed multiple businesses who dealt with the product. Insurers of those entities have spent billions of dollars defending and indemnifying those insureds who dealt with asbestos. Some insurers who insured the asbestos producers were made insolvent. Many asbestos claims were established to […]
Address Error on IME Letter to Claimant Doesn’t Matter if Letters Also Went to Claimant’s Lawyer
In the Matter of the Arbitration between: Right Choice Supply, Inc. and Unitrin Advantage Insurance Company Edited by Lawrence N. Rogak This case stems from a motor vehicle collision which occurred on November 14, 2015 wherein the EIP, (hereinafter referred to as “TC”), allegedly sustained injuries. Applicant seeks compensation for the provision of a CPM and CTU, from February […]
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HEAD ON: How Guy Carpenter and CyberCube Partnered to Tackle Cyber Insurance
By CyberCube CEO Pascal Millaire and Co-Founder Ashwin Kashyap The fear surrounding cyber-attacks has never been more warranted. In 2017, there was a 46% increase in new ransomware variants, a 54% increase in mobile malware variants and a staggering 600% increase in Internet of Things (IoT) attacks, according to data from Symantec. Notably, hackers […]
Unmask the Disruptors
Pick up any publication, read any email advertisement or any blog and everything is about the market disruptors sucking up millions of dollars in venture capital and ready to completely change the insurance marketplace. They profess that younger consumers prefer to buy through them because they are comfortable buying online and insist on convenience and […]
NYIA 2018 Annual Conference…Working Together Toward Tomorrow
There is something special to be said about Saratoga Springs, New York. The amulet of the historical city of Saratoga Springs is deeply rooted in “health, history and horses” and has been a curious tourist’s destination for over 200 years. The pivotal travelers that stayed and shaped this city so many years ago can be […]
Allocating Damages to Pro Rata Time-on-the-Risk
Is it Fair to Require an Insurer to Pay for Periods for which it Received no Premium? Some events causing pollution damage can occur over many decades, even more than a century. Existence of coverage for risks of loss by pollution did not exist, was unavailable to certain industries or was not purchased by the […]
NJ Auto Policy Does Not Cover PIP for Insured as a Pedestrian Struck in New York
In the Matter of the Arbitration between: St. Lukes Roosevelt Hospital Center and New Jersey Manufacturers Insurance Co Edited by Lawrence N. Rogak The claimant had a New Jersey auto policy in which he elected to have his own health insurance be primary for his medical expenses. The claimant was a pedestrian in New York and was struck […]
PIANJ to honor Catranis with Distinguished Insurance Service Award
TRENTON, N.J.—Steve Catranis, senior vice president of Cumberland Insurance Group, will receive the PIANJ 2018 Distinguished Insurance Service award at the Professional Insurance Agents of New Jersey and New York’s Annual Conference, June 10-12 at Harrah’s Resort and Casino in Atlantic City. This award is presented to an individual with a history of service to […]
Franklin Mutual Insurance Group to Receive Community Service Award
Insurance Advocate In The Associations
TRENTON, N.J.—The Professional Insurance Agents of New Jersey will award Franklin Mutual Insurance Group, of Branchville, N.J., with the association’s Community Service award today during the association’s Annual Conference at Harrah’s Resort in Atlantic City. Lisa Glesias will accept the award on behalf of Franklin Mutual Insurance Group. Franklin Mutual Insurance Group is being awarded […]
‘Big I Tri-County’ Installs Officers and Directors for the 2018 – 2019 Term
Awards and scholarship announcements accompanied the evening’s activities Albertson, N.Y.—New officers and directors took the helm on May 22 during the Long Island-based Big I Tri-County association’s annual installation dinner and awards ceremony. The gathering, held at Chateau Briand in Carle Place, NY, set the leadership for the 2018 through 2019 term. More than 150 agents […]
Green Building Basics
Guest Author
Advertorial, MSO Inc.
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Assistant Vice President/Media Editor The green building industry is changing the footprint of the construction trades. Green buildings are less costly to operate, saving money for individual building owners as well as taxpayers. Added advantages of green buildings are that they are designed to be […]
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PIA Stars in A.C. Agent Gala
Some 2,000 agents and insurance industry professionals took to Atlantic City at the PIANJ/PIANY Annual Conference Harrah’s Casino Resort in Atlantic City, N.J., June 10 – 12. The event, an ever-evolving industry tradition, brought a flood of insurance professionals to the shore, to network and be seen at exciting and fun events; packing an expansive […]
Hello, but I Must Be Going.
IFNY wound up hosting a beautiful breakfast meeting with Scott Fisher (pictured) which turned out to be his very last appearance as Executive Deputy Superintendent of the NYDFS. Scott resigned a few days prior. Not saying yet where he will be going, but he is a bright man who did nicely at the DFS in […]
How President Trump Can Turbo-Charge Patient Freedom and Lower Medical Costs
By Elizabeth Lee Vliet, M.D. Free markets in medicine are not “broken;” they have not been allowed to work since 1944 when wartime federal policies began disturbing market forces. Federal control of prices and service delivery further expanded following the Medicare Act of 1965. In 2010, Obamacare crushed medical insurance plans, doctors, hospitals, pharmaceutical companies, […]
The Schinnerer Group to Rebrand as Victor
LONDON—The Schinnerer Group announced that it is rebranding as Victor, a name reflective of the firm’s history and its new global operating model. Victor is the world’s largest managing general underwriter (MGU), currently servicing greater than $1 billion in premium. The Schinnerer Group’s businesses will take up the Victor brand over the next year, and […]
Is Your Offer Letter State-of-the-Art?
by Alfred T. Demaria A letter detailing an offer of employment to a candidate—an offer letter—is an important legal document and should be carefully drafted. A modern offer letter designed to reflect all of the numerous developments in employment law should include the following: • A clear description of what the job entails, to whom […]
A Contract of Insurance is a Binding Contract
Appellate Court May Not Rewrite Insurance Policy Construction contracts are risk transfer devices. They often require each subcontractor to name the general contractor and the owner as an additional insured. The requirement can include multiple additional insured. Insurance policies, even though they are written in easy-to-read language are the least read contracts in business. They […]
Florida Insurers May Rescind Auto Policies in NY Accidents, but Proof Must Comply with NY Law
T & S Med. Supply Corp. v Ocean Harbor Cas. Ins. Co. Edited by Lawrence N. Rogak In this suit for NY no-fault benefits against a Florida insurer, the insurer moved for summary judgment based upon its retroactive voiding of the policy due to material misrepresentation. Reversing Civil Court’s grant of summary judgment, the Appellate […]
Why Do We Need a Right-to-Try Bill in America?
by Jane M. Orient, M.D. Congress recently passed, and President Trump signed, the “Right to Try” bill that gives dying patients limited access to drugs that have not yet been approved by the Food and Drug Administration (FDA). Our Founders would be astonished that we need such a bill. Nowhere does the U.S. Constitution give […]
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Independent Agents’ Digital Tech Use Growing, Yet Big Gaps Remain
Independent insurance agents have made important advances in awareness and use of digital technologies to improve the customer acquisition and service experience in the last two years, according to the Insurance Digital Revolution’s second Insurance Digital Transformation Survey. Today, the majority of agents, 95 percent, say that digital technologies are important or very important to […]
Coming Soon…
“Coming soon to a theater near you….” California Governor Jerry Brown signed into law the strongest online privacy law in the country, the California Consumer Privacy Act of 2018. It may alter the way Silicon Valley does business. The law ensures the following rights: • The right to know the categories and specific pieces of […]
Retaining Your Agency’s Most Important Asset
υThe U.S. Labor Department issued a press release this month that’s getting a lot of attention: It said the Bureau of Labor statistics recorded a leveling off of hires and separations for the month of June, 2018. While employment openings seemed to have slowed down, unemployment is up slightly. The reason for this, experts say, […]
Blast Communication Can Backfire
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Assistant Vice President/Media Editor Advancements in technology have changed the way companies communicate with their clients and potential clients. Blast communication—via fax, phone call or text message—enables a company to get their message to many people or companies at the same time. However, sending communication […]
Five Benefits of Private Placement Life Insurance & Why it’s a Hot Commodity for the Ultra-Rich
By Jon Corrigan Private Placement Life Insurance & Annuity programs, commonly referred to as PPLI, have quickly become a favorite strategy among ultra-wealthy investors seeking greater tax efficiency within investment vehicles. It allows policy holders to combine the strength of premium investment products, like hedge funds or other alternatives, with the tax-free benefits of life […]
When Employees Have to be Paid for Off-The-Clock Cell Phone Use
It is almost universal that mobile device habits bleed into work. More and more, answering a quick email, text or phone call outside of the workplace by nonexempt employees has blurred the lines of what is and what is not considered “compensable hours worked.” Many employers are reluctant to face this thorny issue of work […]
PIA: What if the NFIP is Not Renewed?
by Bradford J. Lachut, Esq., PIA Management Services’ Director of Government & Industry Affairs The U.S. Senate successfully passed an extension of the National Flood Insurance Program on June 29. The extension, which was passed as an amendment attached to larger farming bill, would extend the program for six months. While this may seem like […]
Spousal Abuse Can Never Be an Accident
There is no Right to Beat Your Girlfriend and Get Defense from your Insurer People are known to do stupid things. Insurance is designed to protect the insured against his or her negligence or stupid conduct. People who drink alcohol to excess and intentionally get drunk almost certainly do stupid things because of the intentional […]
Insurer Must Prove not Only that Insured Lied About her Address, but Also that it Would not Have Written the Policy
Maxford, Inc. v Erie Ins. Co. of N.Y. Edited by Lawrence N. Rogak In this No-Fault suit, the insurer moved for summary judgment on the grounds that plaintiff misrepresented her true home address on the insurance application. Civil Court denied the motion. The Appellate Term held that the insurer’s burden is not only to prove […]
Create Your Own Healthcare “System”
by Marilyn M. Singleton, M.D., J.D. Kudos to the folks in D.C. who are advancing alternatives to the Affordable Care Act’s over-regulated and expensive health insurance policies. Small business association health plans and expanding health savings accounts (HSAs) are among several tools to increase health care choices. However, one element in the medical care cost […]
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Premium Financing: The Small Business Savior
by Sean Jagroop There are more than 27.9 million small businesses in the United States, and each face a slew of financial responsibilities – anything from payroll and accounts receivable requirements to handling taxes. And stacked on top of these various financial responsibilities are the numerous insurance policies needed to keep a business’s property and people protected. […]
Formulae For the Future
Republican legislators in Washington have been floating the idea of using Social Security to provide paid family leave for the birth or adoption of a child. The proposal would allow a new parent to essentially borrow from their Social Security retirement to take leave for 12 weeks and 45 percent of their pay. While a […]
Student Food Safety
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Assistant Vice President/Media Editor Days are getting shorter and students are returning to school. Whether students are bringing their lunch to school each day, or preparing meals on their own for the first time in college, they must take care to ensure that the food […]
Are Your I-9 Immigration Forms In Order?
The insurance industry is in no way immune from the reach of scrutiny by the government with respect to its immigration practices. Homeland Security has recently issued a press release stating: “Employers need to understand that the integrity of their employment records is just as important to the federal government as the integrity of their […]
Inter Insurance Launches Universal Casualty, New York’s First Independent Automobile Dealers Association RRG
Recently, at the New York Athletic Club in New York City, Tim Derham and his professional team launched a new resource for the auto insuring market and it has begun to take off quickly. Derham, President of Inter Insurance Agency, Ltd., along with Paula Frendel, Executive Director, and Fred Donnelly, President of the New York […]
The Courage to Trust Medical Care to Patients and Physicians
by Marilyn M. Singleton, M.D., J.D. The days of trusting your legislators to have your best interests at heart are in the rear view mirror. Apparently, their main interest is parroting the buzzwords of the moment to get elected and then being too busy banking lobbying money to listen to the voters. Our legislators have […]
New Jersey Supreme Court Denies Insurance Industry Bid to Allocate Losses to Policyholders
As appeared in Anderson Kill Policyholder – July 2018 by Robert D. Chesler On June 27, the New Jersey Supreme Court rejected an insurance industry bid to burden policyholders with a portion of their covered asbestos losses, ruling on an issue of utmost importance to companies facing environmental, asbestos or other claims where the injury […]
The Changing Role of Being a Producer
Being a producer has changed dramatically and I believe for the good. In years past when competition was limited the preferred method for getting clients was cold calling, either by phone or in person. The key was to find out when the prospect’s policy renewed and getting some agreement to review their protection for issues […]
Property/Casualty Net Income Doubles to $17.1 Billion in Q1 2018
Private U.S. property/casualty insurers saw their net income after taxes more than double to $17.1 billion in first-quarter 2018 from $7.9 billion in first-quarter 2017, helped by lower catastrophe losses and increased reserve releases, according to ISO, a Verisk (Nasdaq: VRSK) business, and the Property Casualty Insurers Association of America (PCI). Losses and loss adjustment […]
NYISF Selects Mora-Amaya as 2018–2019 Recipient
ALBANY, N.Y.—The New York Insurance Scholarship Foundation, Inc. (NYISF) awarded its 2018–2019 scholarship to Jennifer Mora-Amaya, a junior at St. John’s University studying actuarial science from Paterson, N.J. “The New York Insurance Scholarship Foundation is pleased to recognize a student as passionate as Jennifer,” Ellen Melchionni, president of NYISF said. “Her untiring drive to succeed […]
Insurance Lenders Launch Websites with Enhanced Interfaces
Oak Street Funding and First Franchise Capital, First Financial Bank Companies, have launched six enhanced proprietary websites. “These sites are not only more visually appealing but they also deliver on the companies’ value proposition by providing information to clients that will help them to evolve their businesses”, the Companies argue. “We have seen strong growth […]
OnRisk and AFL Insurance Brokers Form Insurtech Partnership
AFL Insurance Brokers (AFL) and OnRisk, the US-based insurtech startup, have formed a strategic partnership to advance new technology for structuring and placing high value property & casualty (P&C) risk. Under the partnership, AFL Insurance Brokers will become an early adopter of the OnRisk structuring platform, which delivers a CAD-style, graphical software toolset enabling risk […]
No-Fault Dme Rental Rate is Same as General Public, If it Has No Medicaid Fee Schedule
Matter of Global Liberty Ins. Co. v ISurply, LLC Edited by Lawrence N. Rogak A No-Fault arbitrator ruled that this auto insurer, Global Liberty, must reimburse a medical provider for rental of a CPM and a Cold Therapy Unit at the monthly rental charge to the general public. The Master Arbitrator affirmed. Global Liberty moved […]
SmarterSafer Welcomes Short Term Extension of National Flood Insurance Program
Urges Congress to Advance Comprehensive Reforms to Save Taxpayers Billions WASHINGTON, D.C.—SmarterSafer, a national coalition of environmental groups, taxpayer advocates, insurance stakeholders, housing organizations and mitigation advocates, released the following statement in response to Congress enacting a critical short-term extension to the National Flood Insurance Program (NFIP) through November, preventing a lapse during peak hurricane […]
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2018/ Past Issues/ September 10
Single-Payer Health Care System in New York “Unsustainable”
RAND Corp. report shows the proposal is unworkable The battle lines are being drawn as the election nears. Some have observed that the leading Democratic candidates running for Governor are tripping over themselves to move to the left and to offer every freebie available, from healthcare to college education to home pizza delivery. “Single payer” […]
2018/ Past Issues/ September 10
Tom Moran, RIP; Tech Trends to Follow
Sad news: Thomas J. Moran, a successful and caring insurance leader and philanthropist, passed away August 12th at the age of 65. Tom spent more than four decades with the Mutual of America Life Insurance Company, contributing significantly to its success. As Chairman, President, and Chief Executive Officer, he led with a style, strength, and […]
2018/ Past Issues/ September 10
Establishing and Reviewing a Nonexempt Employee Timekeeping System
Federal and state laws require that employers pay employees for all hours worked. They define “hours worked” broadly to include (a) all time during which an employee is required to be on duty, on the employer’s premises, or at a prescribed workplace; and (b) all time during which an employee is permitted to work, in either express […]
2018/ Past Issues/ September 10
Workers’ Compensation Basics
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Assistant Vice President/Media Editor A safe workplace is a basic right of every employee. Protecting employees against injury, and ensuring that they have proper medical coverage in the event of an accident, is a primary responsibility of every business owner, from the small contractor to […]
2018/ Past Issues/ September 10
How Attractive is Your Website?
I visit many agency websites as part of my daily routine. Candidly I would have to say there are very few that are inviting to the consumer looking for information and possibly an agent to help them with their insurance protection. The worst are those that say very little and many times haven’t been updated […]
2018/ Past Issues/ September 10
Hidden Factors that Could Cost Your Client Money
The Importance of a Life Insurance Policy Review Are there hidden factors that your clients are not aware of in their financial plans that could cost them and those they care about drastic amounts of money? How frequently should you be reviewing their life insurance policy with them? Although life insurance is sometimes erroneously portrayed […]
2018/ Past Issues/ September 10
Small Commercial Insurance Customers Valued, Yet Underserved, J.D. Power Finds
Overall customer satisfaction remains stagnant in 2018 from 2017 (825 on a 1,000-point scale), showing that despite small businesses comprising the vast majority of businesses operating in the U.S., insurers have room to nurture this profitable market, according to the J.D. Power 2018 U.S. Small Commercial Insurance Study.SM “To remain competitive, insurers must accelerate their […]
2018/ Past Issues/ September 10
Socialism, Corporatism, and Destruction of Patient-Centered Medical Care
by Elizabeth Lee Vliet, M.D. “Medicare-for-all” medicine is the ultimate goal of progressives or “liberals,” fully embraced by Democrat candidates in the midterms. Candidates claim “single-payer” government-run medicine will “solve” all the problems of Obamacare and our “broken,” purportedly free-market system. Liberal proposals ignore or deny the massive cost burden to taxpayers of “free healthcare,” […]
2018/ Past Issues/ September 10
Insurance Fraud to Gain Thousands of Free Cell Phones
Creative Criminal Gets 57 Months in Prison If criminals would put in the effort and skill they use to defraud insurers they would own a multi-million dollar business. Rather, they get short term profits and then find themselves is an 8 foot by 12 foot cell in a federal prison. In United States Of America […]
2018/ Past Issues/ September 10
Passenger Opens Door Of Parked Car And Knocks Down Pedestrian On Sidewalk: Held Not “Use And Operation”
In the Matter of the Arbitration between: Nu Age Medical Solutions, Inc. and American Transit Insurance Company Edited by Lawrence N. Rogak In this No-Fault arbitration, the claimant was a pedestrian standing on the sidewalk saying goodbye to the occupant of a car. When the occupant opened the car door to step out to speak […]
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2018/ Past Issues/ September 24
PIANY Taps Top Talent for Year
GLENMONT, N.Y.—Jamie A. Ferris, AAI, CIC, CPIA, of Lansing, N.Y., was elected president of the Professional Insurance Agents of New York, at a meeting of the association’s board of directors today, at PIANY Headquarters in Glenmont, N.Y. Ferris is president of P.W. Wood & Son Inc., in Ithaca, N.Y. An active member of PIANY, Ferris […]
2018/ Past Issues/ September 24
Barry Bares All
Our popular columnist, Barry Zalma, has just put pen to paper and has produced claims books that are worth the money – really. His premise is that it is the insurance claims person – the adjuster – who works to keep the promises made by the insurance policy. The adjuster cannot, however, help the insurer […]
2018/ Past Issues/ September 24
When you’re finished changing, you’re finished. – Ben Franklin
There’s an abundance of quotes about the inevitability of change; against resisting change; and most appropriately about the value of change. The place I’ve heard most of them are at PIA. The organization is always at the forefront of our industry, and the visionaries who have led the organization call repeatedly for agents to be […]
2018/ Past Issues/ September 24
Expanded and Improved Medicare for All: Beware of Greeks Bearing Broccoli
by Marilyn M. Singleton, M.D., J.D. During the Supreme Court oral arguments in the challenge to the Affordable Care Act’s mandate to purchase health insurance, people laughed when the late Justice Scalia asked whether the government could make you buy broccoli. Never happen? The laughable has become reality. A California bill awaiting the governor’s signature […]
2018/ Past Issues/ September 24
Legal Analytics: ‘Must-Have’ Tool Assists Carriers in Data-Driven Legal Decisions and Success in Litigation
by Ronald C. Porter The insurance industry relies heavily on analytics to understand and predict risk when writing policies. But what happens when a disputed claim becomes a legal matter? Shouldn’t insurers apply those same kinds of analytics to understand and predict their legal exposure? Until recently, insurance litigation relied heavily on legal research, anecdotal […]
2018/ Past Issues/ September 24
The De-sciencing of American Medicine and What it Means to You
With all the talk about “evidence-based medicine,” you might think that doctors were becoming much more focused on rigorous science. But like the names attached to bills in Congress—such as the Affordable Care Act, which outlaws affordable insurance, the language used in the movement to fundamentally transform America and American medicine usually means the opposite […]
2018/ Past Issues/ September 24
Failure to Exceed SIR Releases the Excess Insurers
No Cover Available from Excess and Umbrella Policies Insurers use a self-insured-retention (SIR) to avoid the expense of dealing with small claims and avoid the expense of defending or indemnifying an insured until the SIR or underlying insurance is exhausted. As a result the excess insurer can charge a small premium because its exposure is […]
2012/ 2018/ Past Issues/ September 24
WAHVE “Hello”
Work At Home Vintage Employees LLC (WAHVE) is an interesting concept. Essentially, it is a domestic remote staffing service for insurance firms. There are some firms which provide for staffing and for services outside of the U.S. In this case, WAHVE employs the services of retired, semi-retired, or outside consultants to assist organizations with the […]
2012/ 2018/ Past Issues/ September 24
Immunity For [All] Some!
Peter Bickford
Cover Story, Insight
Let’s have a little chat about immunity. No, not immunity from retribution for squealing on Aunt Bea and her high stakes Saturday night poker game, or for giving state’s evidence against the mob before disappearing into witness protection. And no, not immunity for blowing the whistle on your employer, or for acting badly as a […]
2012/ 2018/ Past Issues/ September 24
Doing The Right Thing
Readers of this column may recall my affinity for locally owned book stores. I love shopping at and spending time in them; of course I love the products and the service and it makes me very happy to know that I am supporting a local merchant. Even as I’ve become a reader of digital books […]
2012/ 2018/ Past Issues/ September 24
When a Hundred Percent is Just Not Good Enough
So all your life you have been striving to do everything you can to ultimately achieve the 100% level, correct? Well that’s certainly an admirable goal…unless you’re an insurance company! Years ago when interest rates were at record highs, and carriers could invest in funds that brought double digit returns, being at a 100% combined […]
2012/ 2018/ Past Issues/ September 24
Disability Carriers Launch “Defend Your Income”
Effort Focuses on Educating Working Americans on Need to Protect Their Income PORTLAND, M.E.—In an effort to make the often- overlooked subject of disability income planning more visible, the Council for Disability Awareness (CDA) and its member companies announced the launch of the Defend Your Income movement. This educational program seeks to unite consumers, advisors, […]
2012/ 2018/ Past Issues/ September 24
Go Know: a Chupah is a "Structure" For Purposes of Labor Law
McCoy v Kirsch Note: A “chupah” is a canopy, usually made of fabric supported by wooden posts, under which a bride and groom perform a traditional Jewish wedding ceremony. — LNR APPEAL by the defendants, in an action to recover damages for personal injuries, as limited by their brief, from so much an order of […]
2012/ 2018/ Past Issues/ September 24
Top 25 Writers Prop Up Premium for New York Commercial Automobile
For the year ending December 31, 2011, Direct Premium Written (DPW) for New York commercial automobile writers remained relatively flat compared to the year ending December 31, 2010, decreasing less than one percent. This decrease to New York commercial automobile DPW represents an approximately $10 million change from the prior year. In fact, DPW has […]
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Licony Leaders and Members “Cruise” Through Leg / Reg Agenda
LICONY concluded the organization’s long-running Annual Meeting & Planning Conference at The Sagamore Hotel on Lake George. The three-day event from Oct. 3-5 was attended by over 130 participants including senior level executives, general counsels and governmental affairs professionals of the life insurance industry.
Participants were attracted to the opportunity to attend content-rich panels that offered the latest updates on legislative and regulatory changes in the industry. Much of the information came right from the source, as members of the Department of Financial Services and the NYS Legislature were featured throughout the event.
Homeowners’ Customer Satisfaction Measured
“Home insurers’ investments in improved digital interaction channels and bundled product offerings that combine multiple policies under one account are paying off in the form of the highest levels of customer satisfaction in the history of our study,” according to the J.D. Power 2018 U.S. Home Insurance StudySM. However, the ability of insurers to maintain […]
Cheap & Fast – A Recipe for Disaster
I can’t think of a more important advertising campaign for all independent agents to share in than informing consumers of the dangers of choosing insurance protection on what is cheap and fast. I believe that we owe a duty to the public to bring to their attention the serious possibility they will be uninsured or […]
Insurance Law for Common Interest Communities: Condominiums, Cooperatives And Homeowners Associations
Important New Book on the Market Francine L. Semaya and Douglas Scott MacGregor have done a lot of thinking on a topic that affects the insuring community substantially. The result is a highly accurate, readable and useful 1,100 page to me: Insurance Law for Common Interest Communities. It is a winner and should be in […]
Ergonomics – Increasing Safety and Efficiency
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Assistant Vice President/Media Editor Increasing efficiency and safety should be key components of any business plan. Ergonomics, the science of fitting the job to the worker, helps lessen muscle fatigue, increases productivity and reduces the number and severity of work-related injuries. While most often associated […]
Enlightening Exchange at NYIA’s New York Regulatory Symposium
The New York Insurance Association’s recent New York Regulatory Symposium in Albany underlined important property and casualty issues with representatives from the New York State Department of Financial Services (DFS). In attendance from DFS were Laura Evangelista, Executive Deputy Superintendent, Insurance Division; Marshal Bozzo, Assistant Deputy Superintendent, Property Bureau; Gerald Scattaglia, Assistant Chief Insurance Examiner, […]
Emilio Miret (1937 – 2018)
A Personal Tribute As David Louie e-mailed the news, I thought to myself “please, not another heartbreaking obituary, please…and certainly not one with the name Emilio Miret in the title.” These successive months of grave losses from the “golden age” of the independent agent, as many friends have termed it, have set off a sense […]
The Workers’ Compensation State: Caterpillar or Butterfly?
By Jess Dantice, CEO, Zenjuries Funny how things change, isn’t it? One day you’re making sure your horses have newly shod hoofs for the two-day carriage ride to the neighboring town, and the next you’re online bidding for a chance to become the first civilian to ride a rocket ship around the moon and back. Today’s […]
Mother, Don’t Let Your Child Become an Adjuster in Washington State
Statute Makes Individual Adjuster Liable for Tort of Bad Faith The state of Washington, in an attempt to protect consumers, has acted in a way to drive insurers and their employed adjusters out of the state. This case makes it financially dangerous to be an insurance adjuster in Washington state. I have railed against the […]
Transit Employee’s Statement That He Cleaned Stairway on Morning of Accident Defeat’s Plaintiff’s Injury Suit
Williams v New York City Tr. Auth. Plaintiff alleged that he slipped on a greasy substance on the stairs of a subway entrance. Three years into the suit, the Transit Authority moved for summary judgment and included an affidavit from an employee who cleaned those stairs every morning. Plaintiff argued that he needed more discovery […]
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Insurance Regulation at a Crossroads: Lessons Learned from the Last Ten Years
by Bill Marcoux (Partner) and Nicholas Kourides (Senior Counsel), DLA Piper
Reprinted with permission.Insurance regulation is at a crossroads. Faced with an increasingly globalized and dynamic industry, the painful lessons of the financial crisis, dramatic and disruptive advancements in the use of technology, creeping protectionism and nationalism in many markets, competing regulatory agendas and good faith differences in regulatory approaches, insurance regulators are at an important juncture and have the chance to chart their course for the near to mid-term. The choices they make could lead to greater regulatory effectiveness and efficiencies, or result in further Balkanization of regulation and an ever heavier, costlier and at times conflicting set of regulatory rules for insurers. The potential impacts on the insurance industry and those consumers who rely on it are significant.
“I Can’t Get No…” or Can I?
Just to pass along some new data on small business employee satisfaction, the category of most agencies, it appears that the triumphs and challenges of small businesses can augur the mega trends of the American economy. Aflac just conducted its 2018 Small Business Happiness Survey with 1,000 small business employees across the U.S. to determine […]
Final Thoughts
About 15 years ago, the Professional Insurance Agents of New York State received a call from Phil Gusman, who at that time was the editor of the Insurance Advocate, requesting I write a column for the publication. I was eager to do it. Some people told me this wouldn’t last two months … And here […]
Israel Bonds’ Insurance Division Holds Annual Luncheon, Honors Two Influential Industry Professionals
Development Corporation for Israel/Israel Bonds, the underwriter of debt securities issued by the State of Israel in the United States, held its Insurance Division Luncheon on October 17, 2018. Spanning over several decades, the annual event drew more than 255 industry professionals to the St. Regis Hotel in New York, and honored Keith J. Wolfe, […]
Termination Check List To Bullet Proof Legal Challenge
Because of the proliferation of lawsuits among white collar employers challenging employee terminations, even those that appear to be completely valid on their face, it is important for insurance industry executives to make sure that each termination, no matter how justified it appears, is thoroughly vetted prior to termination. Here is a modern checklist that […]
What The Election Means To Your Medical Care
by Jane M. Orient, M.D. People are marching with “Health Care Voter” signs, and this is generally believed to be one of the most important issues in the 2018 midterm elections. Republicans who got elected on the promise to repeal ObamaCare, and reneged, may now get unelected. Voters who supported them are dissatisfied, and Democrats […]
Hiscox Study: More Than One-Third of US Workers Feel They’ve Experienced Harassment in the Workplace
Sexual Harassment Tops List as Most Common Form of Employee Misconduct A recent study released by Hiscox, the international specialist insurer, revealed that more than one-third (35%) of employees feel they’ve experienced workplace harassment, 50% of whom said it was on account of their gender or sex. These findings are according to the 2018 Hiscox […]
Forge a Certificate of Insurance – Guilty of Crime
Certificate of Insurance Has Legal Efficacy Although issued by insurance agents with alacrity, Certificates of Insurance (COA) are important documents relied upon by those who receive them to provide comfort that the person they are dealing with is appropriately insured. When someone fails to obtain an accurate COA or alters a legitimate COA and forges […]
Claims File Content Subject to Discovery, Even Those Parts Created During Litigation
Rickard v New York Cent. Mut. Fire Ins. Co. Breaking with precedent, the Appellate Division holds here that an insurer’s SUM claims file is subject to discovery by plaintiff—even those portions created after litigation was commenced—limited only by a court’s in-camera inspection of those portions claimed to be privileged.—LNR υFollowing a motor vehicle accident in […]
What Happens When a Life Insurance Policy Designates an Ex-Spouse as the Beneficiary
While married couples may create Last Will & Testaments and forget to change them following a divorce, numerous states have “revocation on divorce” statutes that typically treat a divorce as voiding a testamentary bequest to a former spouse. These revocation on divorce statutes were initially aimed at Last Wills & Testaments and rest on an […]
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2018/ November 12/ Past Issues
RAP Wrap-Up PIANY Hudson Valley Conference Hails “Heroes”
PIANY’s HVRAP returns to Suffern; Event hones in on participation and communication Professional, independent insurance agents experienced déjà vu as they came back to Suffern at the Crowne Plaza for the Professional Insurance Agents of New York State, Inc.’s 15th Hudson Valley Regional Awareness Program on Oct. 24. Continuing-education courses; a sold-out trade show; and an […]
2018/ November 12/ Past Issues
Thanks, Steve
Bob Wallach, rumors have it, is in the process of reorganizing the Robert Plan 2.0 for a different market and under a different structure. The “wiz kid” as he was known told us to “watch and see”…and we will…just as we watched his legendary Dad, Bill Wallach, amaze and astound an entire industry.… Speaking of […]
2018/ November 12/ Past Issues
PCI Elects New Officers to the Board of Governors
The Property Casualty Insurers Association of America (PCI) elected new officers to its Board of Governors today during the association’s annual meeting. Pete McPartland, chairman of the board, president, and CEO of Sentry Insurance Group was elected as PCI’s chair; Jim Brannen, CEO of FBL Financial Group was elected first vice chair, and Greg Crabb, […]
2018/ November 12/ Past Issues
When Employees Have to Be Paid For OfftheClock Cell Phone Use
It is almost universal that mobile device habits bleed into work, particularly in the insurance industry which does not run on a 9:00 to 5:00 basis More and more, answering a quick email, text or phone call outside of the workplace by nonexempt employees has blurred the lines of what is and what is not […]
2018/ November 12/ Past Issues
Holiday Loss Control Tips for Business
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Assistant Vice President/Media Editor With the hustle and bustle of the holiday season, loss control and risk management may be relegated to the back burner for small business owners. However, this is exactly the time when such practices are most needed. Helping clients understand and […]
2018/ November 12/ Past Issues
Why Are So Many Universal Life Insurance Policies Failing?
Neglect and Lack of Attention Deserve Most of the Blame by Jordan Smith, J.D., LLM Traditional, non-guaranteed universal life insurance (often described in the insurance industry as “Current Assumption UL”) has been subjected to rather brutal criticism over the last few years, most recently in a September 2018 Wall Street Journal article1 that blamed the […]
2018/ November 12/ Past Issues
Do Not Be Deceived! Medicare For All Will Crash the System
by Kristin S. Held, M.D. Deceptively, pollsters report that “Medicare For All” is popular with Americans, as the media proclaims healthcare a top concern on voters’ minds a mere two weeks before the midterm election. While many candidates are indeed running on a “Medicare For All” platform, few Americans realize that a Medicare for All […]
2018/ November 12/ Past Issues
TransUnion’s National Driving Record Solution Provides More Comprehensive View of Policyholders
TransUnion has announced the launch of its new National Driving Record solution for the personal, commercial and life insurance industries. This one-stop solution combines DriverRiskSM court records with state Motor Vehicle Reports (MVRs) for a more comprehensive view of a person’s driving record at a reduced cost. This is accomplished by bringing together TransUnion’s extensive […]
2018/ November 12/ Past Issues
No “Occurrence” in Ohio for Contractor’s or Sub-Contractor’s Defective Work
An “Occurrence” Must Be Fortuitous Ohio, bucking the majority of court opinions, has interpreted the standard Commercial General Liability (CGL) policy to require for coverage to exist that a loss is fortuitous. An “occurrence” to Ohio courts require that the damage is accidental, fortuitous, and not a normal business risk of a person in the […]
2018/ November 12/ Past Issues
Religious Abuse Liability Institutions – Child Sex
Monaghan v Roman Catholic Diocese of Rockville Ctr. This lawsuit arose out of the alleged sexual abuse of a child by a Catholic priest. The Diocese moved to dismiss some of the causes of action, and Supreme Court denied the motion. But the Appellate Division reversed, and held that there is no legal duty for […]
2018/ November 12/ Past Issues
Understanding the Difference Between Surety Bonds and Insurance
by Eric Weisbrot Businesses large and small have two main options for protection – surety bonds and insurance coverage. While some use the terms interchangeably, there are differences between the two that should be understood. Both insurance and surety bonds have unique features that fit specific protection needs, either for the business itself or for […]
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2018/ November 26/ Past Issues
IFNY Honors Beale, Lanning
300 Gather at New York’s Historic Union League Club to Honor Inga Beale, former CEO of Lloyd’s and Mary Lanning, Public Service Leader; Supt.Vullo address audience; IFNY interns present accomplishments Nearly 300 insurance leaders joined in the Insurance Federation of New York’s (IFNY) 104th Annual Award Luncheon honoring Dame Inga Beale, former CEO of Lloyd’s […]
2018/ November 26/ Past Issues
IFNY Awardees’ New “Club” and a Look at Corporate Citizenship
The recent IFNY Luncheon was a 10-rounder for the “Old Boys Club,” as the industry used to be called, as women won all of IFNY’s awards for 2018. Now, how to compliment the winners and not run amok of accepted politically correct guidelines – most of which I do find properly correct. Inga Beale, former […]
2018/ November 26/ Past Issues
What Is Your Distracted Driving Policy?
With the pervasiveness of cell phones, distracted driving now clearly includes entering phone numbers or talking on a cell phone (even hands-free), texting, e-mailing, etc. Yet, most insurance industry employers do not have a “distracted driving” policy, but rather, have just a hands-free mobile device use policy, if they have a policy at all. As […]
2018/ November 26/ Past Issues
Trends in the Marketing and Distribution of Life Insurance
by Jeff Root InsureTech has been around for years with 100’s of millions of dollars being pumped into these technology companies and there hasn’t been a dent in life insurance distribution. Life insurance companies are so focused on short term sales targets, that it’s stunting long term innovation. They’re are not adopting technology as fast […]
2018/ November 26/ Past Issues
Insurance Agents Can Weather Radical Change by Becoming ‘Discussion Partners’ to Their Clients
By Today the insurance industry is going through a revolution and too many carriers, brokers, agents and team members are failing to keep up with the rapid pace of change. Customers have grown accustomed to convenience, a plethora of information and unending choices in whatever they buy, and this applies to the purchase of insurance […]
2018/ November 26/ Past Issues
Big Gains & Big Bets in the Independent Insurance Channel
Sustained Growth Pushes Acquisitions & Insuretech Investments Independent insurance agents and brokers can celebrate a four-year growth trend. So reports Reagan Consulting upon releasing its third-quarter Organic Growth and Profitability (OGP) study. The industry organic growth rate in Q3 was 6.1% — tied for the highest growth rate in the last 15 quarters. […]
2018/ November 26/ Past Issues
Agent Who Kept Premium Owed to Zurich, Loses at Ninth Circuit
Agent Defrauds Insurer by Not Remitting Premium Collected Insurance agents, by contract with insurers they represent, must place all premium collected on behalf of the insurer and place the funds in a separate trust account. Depending on the terms of the contract the agent then deducts the agreed commission and remits the remainder to the […]
2018/ November 26/ Past Issues
If Named Insured Dies, Coverage is Limited to Spouse and Estate Representative
Sunrise Acupuncture, P.C. a/a/o Sharise Davis v Kemper Independence Ins. Co. Both named insureds under an auto policy died in June 2007. Raquel Davis was named as executor of the estate. In May 2008, Raquel’s daughter, Sharise, got into an accident while driving the insured vehicle and applied for no fault benefits, which were denied […]
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Reg 187 Battle Lines…Written
Article 78 proceeding started, as agents see harmful “vague standard” and worse. Not sure how the seemingly nonexistent balance of power in Albany will affect an insurance agents petition to stymie proposed Regulation 78 initiated by the PIANY and the Big I together, but the consent of an insurer segment won’t help much. It looks to us as if DFS Supt. Maria Vullo may well have the last word on the controversial Regulation.
On White Noise
This is a holiday letter as 2018 closes, but I cannot wax too poetically about the season or the past year, given the great insurance professionals we lost and given this past year’s growing factionalism in seemingly everything. I mean everything. The incessant white noise, the insane bickering on TV, whether its Fox or MSNBC […]
Friendly Fraud and Chargeback Fraud
Guest Author
Advertorial, MSO Inc.
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Assistant Vice President/Media Editor Any client who does business with the public, especially online, is exposed to various types of fraud. It is interesting to note that not all fraud is planned or intended. No matter the type of fraud, it has a significant impact […]
Should Companies Screen Their Job Applications’ Social Media?
This has become an increasingly important question since surveys reveal that more than half of employers inquire into a prospective employee’s online social media activity during the hiring process. The insurance industry is no exception. However, there are a number of pitfalls involved in such screening. The major ones are: Pitfall No. 1: Only Performing […]
Dear Producer – No Insurtech is No Excuse
What is insurtech? It’s a recently created name for a growing class of apps, software and insurance startups that use cutting edge technology to quickly and efficiently provide insurance, customer service and customer engagement. If you think insurtech is the answer to writing insurance you’re sadly mistaken. Insurtech is merely a tool to make the […]
What Does the Future Hold for Workers’ Compensation Insurance Rates
By Donald D. DeCarlo and Roger Thompson The National Council on Compensation Insurance (NCCI) reports that workers’ compensation insurance rates will again dip in most states in 2018. The report attributes this continuing decrease to two factors; (1) declines in the frequency of claims; and (2) improvement in the area of workplace safety on the […]
NYIA Provides Industry Roadmap at New York Auto Forum
The New York Insurance Association hosted the New York Auto Forum—A Look at the Road Ahead on Wednesday, November 14, 2018. Auto insurance writers and insurance professionals heard from industry experts on a variety of trending topics. Skip Short, member, Short & Billy and Barry Levy, partner, Rivkin Radler shared colorful anecdotes from their many […]
Private Limitations of Action Provision Enforced
Ninth Circuit Affirms Summary Judgment Because Suit Was Filed Too Late Every first party property insurance policy contain a special provision that limits the time available for an insured to sue the insurer in the event a claim is rejected. The private limitations provision is usually less than the state’s statute of limitations and protects […]
IBANY Announces 2018 Insurance Person of the Year
The Insurance Brokers’ Association of the State of New York (IBANY) has announced that Elizabeth Heck, President and CEO of Greater New York Insurance Companies, is the 2018 Insurance Person of the Year. Each year, insurance professionals are asked to submit nominations for the Insurance Person of the Year. Nominees are individuals known for their […]
When Medical Provider Bills Under a “By Report” Code, Insurer Must Demand Supporting Documents if it Wants Them
Pavlova a/a/o Cosby Reavis v Allstate Ins. Co. In this no-fault suit, plaintiff medical provider billed for services under CPT code 20999, which is a “by report” code. The insurer denied the claim on the grounds that the provider did not supply documentation backing up the need for the services. The Appellate Term held that […]
Epidemics, Fear and Denial: How Every American Is Threatened
By Jane M. Orient, M.D. This is the one hundredth anniversary of the great influenza pandemic of 1918. In his book The Great Influenza, John M. Barry described it as the deadliest plague in history. It killed more people in a year than the Black Death of the Middle Ages killed in a century. The […]
