Our publisher Steve Acunto writes his editorial Foreword on page 4 of each issue and gives the industry one of its best read, often quoted columns.
U.S. Senate majority leader Mitch McConnell has called for stronger Federal measures to protect front-line health workers and business in general from what he said could become the “biggest trial lawyer bonanza in history”, as suits mount to pursue damages claims caused by the Covid-19 pandemic. During a time when opportunism (“never let a crisis […]
Seven senators have spurred their peers in an effort to convince President Trump to protect the insurance industry from proposals in state legislatures that would require insurance companies to cover small-business losses due to the coronavirus pandemic retroactively, using BI and WC formats extended for the purpose. At the same time, state lawmakers in New […]
S&P Global Market Intelligence found that property and casualty insurance is the least impacted from the COVID-19 health situation, based on market signals. S&P Global Market Intelligence conducted this analysis for the month of March generating industry medians from its Credit Analytics Probability of Default (PD) Market Signal model which uses stock price and assets […]
Some weeks back in this space we hailed the advent of a new contest calling upon New Yorkers to identify obstacles that the State places in the path of businesses. Response was robust. The Empire Center has just announced the winners. Chris Kendall of Madison County and Jacob Rieper of Columbia County are the DeregulateNY […]
Legislation has been introduced in the New York State Assembly (Bill 8040) that will significantly increase funding opportunities for insurance company members of the Federal Home Loan Bank of New York (“FHLBNY”). Under the proposed bill, which is already law in 19 states, provisions of the insurance insolvency law will be amended to clarify the […]
The Empire Center has launched “DeregulateNY,” a web-based contest inviting users to identify the most needlessly expensive and restrictive rules imposed on people offering goods and services in New York State. Contestants submit entries online and compete to win a cash prize …..and a trip to Albany. New York businesses contend with more than 300,000 […]
New York has lost nearly 1.4 million residents to the rest of the country since 2010—and largely as a result of this outflow, the Empire State’s total population barely budged during the decade, according to the U.S. Census Bureau’s latest annual update of population estimates. Recent Census Bureau estimates show: • 180,649 more residents had […]
The Professional Insurance Agents of New York State (PIANY) will host its first Regional Awareness Program of 2020 on January 30th from 8 a.m.to 5:00 p.m in Manhattan called MetroRAP. More than 400 agents, company representatives, exhibitors and other insurance industry professionals from the greater New York metropolitan region and downstate New York are expected […]
News that legendary former NYS Superintendent of Insurance Richard E. Stewart died at age 85 on October 13 was received with sadness across the industry. He was the Superintendent of the New York State Insurance Department from 1967 to 1971, and became a leader in insurance in the United States and recognized internationally. He initiated […]
WE begin this issue with an old plea: to NYS Legislators: please do not do away with the PIRP programs as they now exist. Current law mandates that these courses may only be taken in-person in the classroom and that an applicant must provide proof of satisfactory completion of this course before a driver’s license […]
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