Maria T. Vullo News

New York Fines Two Insurers $2.2M, Orders $8M in Rebates to Firefighters

The New York State Department of Financial Services (DFS) has fined Arch Insurance Company and National Union Fire Insurance Company of Pittsburgh, Penn., a combined total of $2.2 million in fines and ordered the insurers to provide a combined $8 …

NRA Sues New York, Alleging First Amendment Violations in Insurance Crackdown

The National Rifle Association (NRA) has filed a lawsuit against New York’s insurance regulator and Governor Andrew Cuomo, alleging a regulatory overreach by New York officials that has resulted in violations of the NRA’s First Amendment rights. The NRA’s lawsuit …

Progressive is the Latest to Comply with New York Auto Insurance Rate Regulation

A fourth major auto insurance company in New York has reached a compliance agreement with the New York Department of Financial Services (DFS) regarding DFS’ final regulation against discriminatory auto insurance rates. Progressive has informed Financial Services Superintendent Maria T. …

GEICO to Comply with New York Reg Banning Discriminatory Auto Insurance Rates

A third major automobile insurance company in the New York market has reached agreement with the New York Department of Financial Services (DFS) in compliance with the department’s final regulation prohibiting insurers from using an individual’s occupational status and/or educational …

New York Working to Deter Fraud, Manipulation in Virtual Currency Markets

New York Department of Financial Services (DFS) has issued guidance reminding all virtual currency entities licensed by New York State, including those that hold a money transmitter license, that they are required to implement measures designed to detect, prevent and …

Filing Deadline Approaching for New York’s Cybersecurity Regulation

New York Department of Financial Services Superintendent Maria T. Vullo has reminded all regulated entities and licensed persons covered by the Department of Financial Services’s (DFS) cybersecurity regulation that the first certification of compliance must be filed on or prior …

DFS Finalizes Regulation to Strengthen New York No-Fault Insurance Law

A new regulation issued by the New York State Department of Financial Services (DFS) aims to curb costs and abuses of New York’s no-fault insurance law while leveling the playing field for New York insurers, according to a DFS press …

New York State DFS Issues Updated Proposed Cybersecurity Regulation

New York State Department of Financial Services (DFS) Superintendent Maria T. Vullo has announced that the DFS has updated its proposed cybersecurity regulation to protect New York State from the ever-growing threat of cyber-attacks. The proposed regulation, which serves as …