The New York State Department of Financial Services (DFS) is mandating continuing education in flood insurance for property/casualty insurance producers in response to the increasing risk of flooding due to climate change. In addition, DFS is the first state regulator …
New York State Department of Financial Services (DFS) Acting Superintendent Adrienne A. Harris announced new consumer protections in New York’s public adjusters regulation, which will become effective October 8. The protections help insureds by clearly defining the duties of insurers …
The New York State Department of Financial Services (DFS) has issued a circular letter to New York-regulated insurers to expedite Tropical Depression Ida-related insurance claims. On September 1, 2021, the remnants of Hurricane Ida passed through downstate New York and …
A New York man has been arrested for insurance fraud in the second degree following a year-long criminal investigation. On January 28, 2020, the Ellenville Fire Department requested the Ulster County Fire Investigation Unit to respond in Wawarsing, New York, …
Governor Andrew M. Cuomo has announced a $4.5 billion settlement with Purdue Pharma over the company’s role in falsely marketing its products. The owners of Purdue Pharma, the Sackler family, will be required to pay $4.5 billion over the next …
Tri-State Consumer Insurance Company will pay a $500,000 penalty to New York state for multiple violations of New York law. A New York State Department of Financial Services (DFS) investigation uncovered that Tri-State failed to timely comply with New York …
The next great financial crisis could come from a cyber attack. At least, that’s according to New York State Department of Financial Services (DFS) Superintendent Linda Lacewell in a statement regarding DFS’ recent report outlining its investigation into the SolarWinds …
New York remains extremely active in the cybersecurity and data protection arena. During its current legislative session, New York is considering a proposed privacy bill that would greatly enhance consumer privacy rights, increase business obligations and create new litigation/enforcement exposure. …
The New York State Department of Financial Services (DFS) has issued proposed guidance for regulated insurers on managing the financial risks of climate change. The proposed guidance comes after a circular letter was issued by DFS on September 22, 2020. …
The New York State Department of Financial Services (DFS) has appointed members to serve a three-year term on the New York State Insurance Advisory Board. Members of the board include representatives of the insurance industry and consumer advocates, as required …
