New York’s insurance regulator ordered American Transit Insurance Co. to immediately find capital and explore a sale in a damning report laying out its severe financial condition. The report laid out dozens of potential financial improprieties and accounting problems at …
New York’s insurance regulator issued a damning report laying out the severely flawed financial condition of New York’s largest insurer of taxis and for-hire vehicles, as well as dozens of potential financial improprieties and accounting problems, warning that the consequences …
The New York State Department of Financial Services has proposed market conduct regulations to govern pharmacy benefit managers (PBMs) operating in the state. The regulations have been developed to implement a law passed in 2021 that requires licensing of PBMs …
In its latest move to address the effects of climate change, the New York Department of Financial Services (DFS) announced a new climate risk division and appointed Dr. Nina Chen as its executive deputy superintendent. Dr. Chen, DFS’ inaugural director …
New York Governor Kathy Hochul has proclaimed October 2021 as Cyber Security Awareness Month in New York state. The announcement comes as part of the state’s effort to raise awareness on the importance of all New Yorkers developing smart cybersecurity …
Following her visits to communities impacted by flooding from Hurricane Ida, New York Governor Kathy Hochul signed a request to President Biden for an expedited major disaster declaration. With presidential approval, the declaration would deliver individual and public assistance for …
New York State Governor Kathy Hochul announced that Adrienne Harris has been nominated to lead the New York State Department of Financial Services (DFS) as its next superintendent. Formerly a top economic advisor to President Barack Obama, Harris will become …
The New York State Department of Financial Services (DFS) is calling on its regulated insurers to prioritize diversity of leadership and says it will begin collecting and publishing diversity data from insurers this year to promote transparency. These new actions …
The New York Department of Financial Services’ (DFS) Cybersecurity Division issued a March 9 letter to regulated entities regarding the recent Microsoft Exchange breach in which thousands of organizations were compromised via vulnerabilities in the Microsoft Exchange servers. On March …
New York state filed civil charges on Thursday accusing Johnson & Johnson of insurance fraud for downplaying the risks of opioid painkillers, including to doctors and elderly patients. Governor Andrew Cuomo said the charges by New York’s Department of Financial …
