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14 Jun 2012, 1:41 am
In the latest of what is now a lengthening line of cases, on June 12, 2012, the New York Supreme Court, Appellate Division, First Department, applying Illinois law, ruled in a coverage case brought by JPMorgan Chase that owing to settlements by underlying carriers in a professional liability insurance program, excess insurers in the program have no payment obligation because conditions precedent to coverage under the excess carriers’ policies had not been met. [read post]
9 Aug 2017, 11:22 am
But it appears that the NY Department of Financial Services (DFS) thinks life insurers doing business in the state should be devoting more time and more resources to searching for one thing: lost insurance policies.Like many states, DFS is working on a project that will coordinate its Lost Policy Finder Service with the NAIC’s Life Insurance Policy Locator Service. [read post]
9 Aug 2017, 11:22 am
But it appears that the NY Department of Financial Services (DFS) thinks life insurers doing business in the state should be devoting more time and more resources to searching for one thing: lost insurance policies.Like many states, DFS is working on a project that will coordinate its Lost Policy Finder Service with the NAIC’s Life Insurance Policy Locator Service. [read post]
14 Dec 2008, 12:20 pm
" A virtually identical statement of disclaimer has been held by the Appellate Department, First Department, to be insufficient to establish that the named certificate holder was an additional insured under an insurance policy, where the policy itself made no provision for coverage. [read post]
17 Sep 2007, 5:40 am
Last week the Second Department rejected a wrongful death and pain and suffering action based on such a theory in Katchalova v Perchikov, 2007 NY Slip Op 06640. [read post]
15 May 2010, 9:52 pm
"Permissible services of insurance agents and brokers; rebating and inducements New York State Insurance Department March 3, 2009 [read post]
9 Oct 2008, 10:35 am
Have a question or comment for NYS Insurance Department Superintendent Eric Dinallo? [read post]
21 Nov 2007, 6:00 am
At a recent meeting at the NYSID, a warning was put out to companies regarding the Department's discovery that on several occasions unlicensed insurers have issued unapproved (in NY) equity indexed annuities to NY residents outside New York. [read post]
7 Jun 2010, 2:44 pm
The Insurance Department subsequently issued a circular letter to insurance companies licensed to do business in New York State, informing them of the requirement to treat same-sex couples who had married elsewhere as being married for purposes of insurance policies sold in the state. [read post]
26 Jan 2018, 1:04 pm
Pursuant to the Sixteenth Amendment to 11 NYCRR Part 216, the paragraph now reads (new language highlighted):Should you wish to take this matter up with the New York State Department of Financial Services, you may file with the Department either on its website at http://www.dfs.ny.gov/consumer/fileacomplaint.htm or you may write to or visit the Consumer Assistance Unit, Financial Frauds and Consumer Protection Division, New York State Department… [read post]
15 Jun 2015, 2:40 pm
’s New Regulations Aim to Reduce Title Insurance Costs (insurancejournal.com) Hey, NY homeowners: Title insurance costs may drop 20% (timesunion.com) Title Insurance And Governor Cuomo’s Proposed Regulatory Changes: Our Thoughts! [read post]
31 Jan 2022, 5:12 pm
Harris has served as General Counsel and Chief Business Officer for a title insurance and settlement services company. [read post]
14 Sep 2010, 12:28 pm
On Friday, September 10, 2010, the NY Insurance Department posted a ["Clarification on Fixed Annuity Reserves Interest Rates"]. [read post]
15 Dec 2010, 12:28 pm
While the question and answer were pretty narrowly drawn, it is always helpful to get some additional insight into how the various insurance departments are dealing with electronic advertising issues. [read post]
26 Dec 2007, 10:35 pm
Is yesterday's headline a real issue, is it a scare tactic from the Superintendent of Insurance, or does it come from the NY Sun taking something out of context to help push immunity legislation for doctors? [read post]
30 Oct 2020, 8:41 am
Teenager Life Insurance Market 2020-2026 | Comprehensive Study COVID19 Impact Analysis…PRESS RELEASE: (NY) Department of Financial Services Files Statement of Charges…Six States Move Forward with Best Interest Rules for AnnuitiesAnnuity Sales Credited For Rise In Households With Lifetime Income'Secure Act 2.0' Could Expand Use of ETF-Like Options in Variable Annuities5 Insurance Regulator Races Are on Nov. 3 State Ballots [read post]
1 Jul 2010, 6:49 am
[Circular Letter 8 (2010)] dated June 29, 2010 and posted yesterday on the NY Insurance Department website, clarifies that as a result of amendments to §4223(c)(1), made at the time provisions relating to indexed annuities were added, recapture of bonuses on fixed annuities or fixed accounts of variable annuities, are not permitted. [read post]
17 Feb 2009, 2:54 am
The New York Insurance Department issued OGC Opinion No. 09-01-05 addressing several questions posed with respect to Chapter 388 of the Laws of 2008 (generally referred in this blog as the late notice Legislation), and the discussion of the Legislation in the Insurance Department's Circular Letter 26 (Nov. 18 2008), which we discussed here and here.The OGC Opinion confirmed that the notice provision of the Legislation which requires… [read post]
4 Dec 2023, 2:29 pm
NY Regulators Secure $1 Million Settlement in Cyber Action Against First American Title Insurance CompanyIn a Press Release dated November 28, 2023, New York State Department of Financial Services Superintendent Adrienne Harris announced a Consent Order entered into by the Department related to a May 2019 data breach at…↓ READ MORE ↓ ICI Member LOG IN or SUBSCRIBE today! [read post]
3 Jun 2010, 7:33 am
At last week's Speed-to-Market seminar, Peter Dumar of the New York State Insurance Department presented on Supplement 1 to Circular Letter 27 (2008) (CL27). [read post]
