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…
News
Adirondack Insurance Exchange, Mountain Valley Advise Clients To Replace Their Policies
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.…
Adirondack To Agents: Start Replacing Our Policies
Adirondack Insurance Exchange reported today that its financial condition has continued to deteriorate. The carrier is advising its agents to begin replacing its policies with other insurance carriers immediately. As…
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
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…
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…
Adirondack Insurance Exchange: Your Questions Answered
[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…
Legislative Update: Session Adjourns with Significant Wins for IAs & Other Insurance-Related Bills Pass Legislature
Supplemental Spousal Liability Changes Passed: Both houses of the legislature passed Big I NY-backed changes to supplemental spousal liability insurance, exempting unmarried drivers and commercial coverage from automatic enrollment. These common-sense…
Non-Renewal Notice on Homeowners Policy From Carrier Due to Exposure to Catastrophic Losses
Question: “A referral to me received the attached non-renewal notice from her current Homeowners carrier. It gave the reason for non-renewal as: “As part of our efforts to manage risk…
Are you Team Sue or Team Terri?
Want to have fun golfing at Go Big without the pressure of pulling together a foursome? Then join Team Sue (Keegan) or Team Terri (Yates)! Team Sue promises a break from insurance…
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