The New York State Department of Financial Services (DFS) has entered into a settlement with the National Rifle Association (NRA) to resolve alleged violations of New York insurance law. The settlement includes a monetary penalty of $2.5 million and means …
The New York Department of Financial Services (DFS) announced that it has served a statement of charges against the National Rifle Association (NRA). The Department alleges that the NRA, which does not have a license to conduct insurance business in …
The New York Department of Financial Services (DFS) has issued updated disaster response and recovery plan requirements for all insurance companies licensed to conduct business in New York state. It issued these updated requirements in light of disasters that may …
The Independent Insurance Agents & Brokers of New York (IIABNY) applauded a New York Senate committee’s action to protect employers from surprise insurance premium increases in their workers’ compensation policies. The Senate Labor Committee approved IIABNY’s bill during its meeting …
The New York State Assembly recently approved a bill (A04458) that would require insurers to expedite claims investigation and settlement processes after declared disasters and emergencies. Under the legislation, which passed the Assembly on June 17, insurers would be required …
Industry groups are warning that the New York State Assembly’s recent approval of the post-Sandy insurance reform package has the potential to backfire and are urging the state Senate not to take up this legislation. The reform package includes a …
The New York State Assembly approved on Tuesday a comprehensive post-Sandy insurance reform package comprised of 14 pieces of legislation. All approved measures now move to the state Senate for further consideration. The approved bills range from establishing a “homeowner’s …
