New York State Department of Financial Services (DFS) today released a report on cybersecurity in the New York insurance industry and announced a series of measures that DFS will take to help strengthen cyber hacking defenses at insurers. DFS announced …
American International Group Inc. agreed to pay a $35 million penalty to resolve a New York State probe into unlicensed insurance sales by former units. The subsidiaries, American Life Insurance Co. and Delaware American Life Insurance Co., solicited business in …
New York Gov. Andrew Cuomo’s administration announced today that Narragansett Bay Insurance Company will pay a $327,400 penalty for failing to perform timely inspections of Superstorm Sandy damage claims as required by New York Insurance Law and regulations. The company’s …
New York Attorney General Eric Schneiderman asked a judge to dismiss American International Group Inc.’s lawsuit against the state’s top financial regulator, saying the insurer is trying to interfere with a probe of unlicensed overseas insurance sales. “The investigation of …
New York’s new budget gives state financial regulators authority to issue licenses to title insurance agents for the first time. Sponsors say the measure is intended to protect consumers and lower costs for New York homeowners. The state’s Department of …
On a June morning in 2012, New York bank examiners paid surprise visits to the offices of Ocwen Financial Corp., the biggest non-bank mortgage servicer. That break with tradition — examiners typically set up appointments in advance of inspections — …
American International Group Inc. sued to block New York’s top financial regulator, Benjamin Lawsky, from fining it over marketing insurance overseas without a state license, claiming it would be unconstitutional. AIG, criticizing what it called a “flawed and unconstitutional” interpretation …
MetLife Inc., the largest U.S. life insurer, will pay $60 million after New York watchdogs found subsidiaries solicited business in the state without a license and made intentional misrepresentations to regulators. MetLife also agreed to cooperate with the New York …
New York State’s Department of Financial Services (DFS) announced its investigation has found that the car-sharing service RelayRides put New Yorkers at risk through false advertising, unlicensed insurance activity, and other violations. Officials said RelayRides will pay a $200,000 penalty …
New York State officials today proposed a comprehensive set of rules to reform the “force-placed” — also known as “lender-placed” or “creditor-placed” — insurance industry in the state. The New York Department of Financial Services (DFS) said the regulations will …
