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The New York State Insurance Department was the first insurance department or agency in the United States to establish a capital markets group to examine and measure the risks in insurer investment practices, and was the first state to recognize the importance of segregating multiple lines insurance from financial guaranty insurance as a means ...
The New York State Legislature unanimously confirmed Benjamin M. Lawsky on May 24, 2011, as New York State's first Superintendent of Financial Services. [9] From May 24, 2011, until October 3, 2011, Lawsky also was appointed, and served as, Acting Superintendent of Banks for the former New York State Banking Department. [9]
As early as 1979, Feldman had sold more life insurance than anyone in history. [3] He sold life insurance policies with a total face value of about $1.5-billion [4] for New York Life from 1942 to his death in 1993. He once held the world record for the most products sold (by value) by a salesman in a career, a year ($100,000,000), and in a ...
The office of the insurance commissioner may be part of a larger regulatory agency, or an autonomous department. Insurance law and regulation is established individually by each state. In order to better coordinate insurance regulation among the states and territories, insurance commissioners are members of the National Association of Insurance ...
Insurance brokers can help take the pain out of shopping for a new policy. Instead of comparing several options from dozens of insurers on your own, a broker will do this work on your behalf.
Often, independent insurance agents will work with insurance intermediaries, who obtain quotes from multiple insurance providers and pass them off to the independent agent. Working with an insurance intermediary service allows the independent agent to review many quotes and offer their clients the best policy options available.
How much does PIP cost in New York? The average cost of car insurance in New York is $3,833 per year for full coverage and $1,654 for minimum coverage. Auto insurers in New York cannot sell you ...
Historically, managing general agents came about when insurance companies located in the eastern United States in the late 19th and early 20th centuries, primarily in New York City, wanted to expand their markets to the western United States, but didn't have the resources to open a regional or local office. Managing General Agents filled that ...
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