If memory serves me correctly, the NY legislature raided the insolvency funds to help balance their budget a few years ago. Why would anyone want to write insurance in NY? Definitely an unfriendly state to do business. Thank god we shelved our plans to go into NY. Everything coming out of there just reinforces our decision.
I don’t know whether the State of New York raided the insolvency fund or the State Fund itself, but in either case, that just illustrates how irresponsible NY State government is. They can’t seem to get it right.
They are now trying to sell off infrastructure assets to help balance the budget, but that won’t work either.
If memory serves me correctly, the NY legislature raided the insolvency funds to help balance their budget a few years ago. Why would anyone want to write insurance in NY? Definitely an unfriendly state to do business. Thank god we shelved our plans to go into NY. Everything coming out of there just reinforces our decision.
I don’t know whether the State of New York raided the insolvency fund or the State Fund itself, but in either case, that just illustrates how irresponsible NY State government is. They can’t seem to get it right.
They are now trying to sell off infrastructure assets to help balance the budget, but that won’t work either.
Anyone want to buy the Brooklyn Bridge?