New York State Department of Financial Services News

New York Regulator Alleges NRA Violated State Insurance Laws

The New York Department of Financial Services (DFS) announced that it has served a statement of charges against the National Rifle Association (NRA). The Department alleges that the NRA, which does not have a license to conduct insurance business in …

New York Man Arrested for More Than $33K Workers’ Compensation Fraud

Investigators from the Orange County Sheriff’s Office have charged a 56- year-old New York man with grand larceny in the third degree, a class D felony, and penalties for fraudulent practices, a class E felony. Robert Marra of Crawford, N.Y., …

New York Man Arrested for Arson, Insurance Fraud in Vehicle Fire Scheme

New York State Police have arrested Jonathan A Schuyler, 23, of Fort Plain, N.Y., for the felonies of arson in the third degree and insurance fraud in the third degree, according to a press release issued by The New York …

New York Man Arrested for Alleged Car Dealership Insurance Fraud Scheme

A Bronx County, N.Y., man has been arrested and arraigned on a felony complaint for an alleged insurance fraud scheme. Barrington Mayne, who is not an insurance broker, allegedly used his position and contacts at various car dealerships throughout Brooklyn, …

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 …

Cuomo Nominates Lacewell to Replace Vullo as Superintendent of New York DFS

New York Governor Andrew Cuomo has nominated his chief of staff and counselor Linda Lacewell as superintendent of the New York State Department of Financial Services (DFS). The appointment was announced by Governor Cuomo’s office along with several of his …

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 …

American Arbitration Association Opens Office in Upstate New York

The American Arbitration Association (AAA), a provider of conflict management and dispute resolution services, has opened a new office in Buffalo, N.Y., offering local arbitration support in a region that has experienced an increase in arbitration requests for no-fault auto …

New York’s Cuomo Proposes Regulation in Wake of Equifax Security Breach

In response to the recent cyberattack that exposed the personal private data of nearly 150 million consumers nationwide, New York Governor Andrew M. Cuomo has directed the New York Department of Financial Services (DFS) to issue new regulation making credit …

Trust But Verify: New York Cyber Regs Mean Managing Third-Party Security

This year, the beginning of September marked a critical implementation deadline for some of the toughest new cybersecurity regulations in the country – the New York State Department of Financial Services (NYDFS) 23NYCRR 500. This set of regulations mandates that …