The New York Department of Financial Services says five of the state’s largest banks and mortgage services will have representatives available this week to help homeowners cash insurance settlement checks from Superstorm Sandy. Lender representatives will be at Disaster Assistance …
New York Gov. Andrew Cuomo announced Wednesday that major banks and mortgage servicers will take action to expedite insurance payments to New York homeowners in the wake of Superstorm Sandy. Currently, insurance claim checks must be endorsed by the banks …
When the National Hurricane Center declared Sandy a “post-tropical storm” just before it made landfall, a lot of homeowners across New Jersey, New York, Connecticut and Maryland may have saved a lot of money. The governors of these states have …
Premiums for so-called force-placed insurance have more than tripled since 2004, producing enormous profits for insurers and the banks that take out policies when a homeowner fails to maintain coverage required by the mortgage, according to New York regulators. In …
New York’s financial regulators will hold hearings on the so-called force-placed insurance next month. These hearings will be open to the public and will also be webcast over the Internet. Benjamin Lawsky, superintendent of the New York Department of Financial …
New York Gov. Andrew Cuomo said this week that a regulatory investigation into how insurers tracked life insurance policyholders resulted in 32,715 payments to consumers nationwide. The overall amount paid by insurers is $262.2 million, including 7,525 payments totaling $95.9 …
New York State Financial Services Department’s deputy superintendent James Wrynn will leave his post to join a law firm early next month. Wrynn will become a senior partner at Goldberg Segalla L.L.P. for its global insurance services practice group, beginning …
New York regulators urged Citigroup Inc.’s mortgage unit on Wednesday to stop resisting and comply with a subpoena related to an investigation of the force-placed insurance industry. In January, the New York Department of Financial Services issued subpoenas to roughly …
New York Department of Financial Services, the new department that combines the state’s insurance and banking regulators, was officially launched on Monday, Oct. 3. Financial Services Superintendent Benjamin Lawsky set the mission and announced the structure of the new department …
