Question: “I have a property-casualty insurance license and occasionally sell flood insurance through one of our carriers or one of the private flood insurance markets, but not directly through the…
A national insurance carrier announced yesterday afternoon that it is exiting the personal lines insurance markets countrywide. To find out what the carrier’s legal obligations are under New York law,…
UPDATE: Since we posted this news item, we have learned that NYSIR is a “municipal reciprocal insurer,” as New York Insurance Law Section 6102 defines that term. That same section of the law permits…
A South Carolina based wholesale insurance brokerage reported last week that they had suffered an undescribed cybersecurity incident. It closed the wholesaler for a substantial part of the week. Some…
New York Workers’ Compensation insurance loss costs are set to decrease by an average of 9% this fall, according to a recent action by the state Department of Financial Services…
New York based insurer Adirondack Insurance Exchange (AIE) and its affiliate Mountain Valley Indemnity Co. (Mountain Valley) have reported financial trouble. They have advised policyholders to seek replacement coverage immediately.…
Some businesses, in an attempt to lower their costs, hire workers on an independent contractor (or “1099” basis). Watch this video to learn about the insurance implications. Topics
Insurers in New York are no longer permitted to take adverse underwriting actions regarding habitational properties that contain subsidized housing units, according to the state Department of Financial Services (DFS). The…
We often hear of Connecticut and New York insurance agencies operating under names that are different from the names on their New York licenses. Watch this video to learn why you…
[This post was updated on July 31st to clarify that The Allstate Corp. does not own Adirondack Insurance Exchange.] As we previously reported, on May 28th the financial strength rating of…
