Ask Tim

NYSIR’s AM Best Rating Withdrawn

​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…

New York Schools Insurance Reciprocal logo

Do You Have To Report A Wholesaler’s Cyber Incident?

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…

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Workers Comp Loss Costs To Drop 9% in October

​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…

Worker's compensation claim form

Video: 1099s & Insurance

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

1099 form

DFS: No More Underwriting of Subsidized Housing

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…

Aerial view of a neighborhood

Video: Can You Use That Name?

​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…

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