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The New York State Insurance Department (NYSID) was the state agency responsible for supervising and regulating all insurance business in New York State. [1] It was regarded in the industry as one of the most state-of-the-art insurance regulatory agencies.
The New York State Department of Financial Services (DFS or NYSDFS) is the department of the New York state government responsible for regulating financial services and products, including those subject to the New York insurance, banking and financial services laws. [1] [2]
NYSIF is financially self-supporting and competes with private insurance carriers. It is required by law to provide the lowest possible premiums to maintain its solvency. [1] As of 2015, NYSIF was the largest workers' compensation insurance carrier in New York, with 46% of the market, and that year it earned $2.48 billion in premiums, placing ...
Car insurance laws in New York. New York is a no-fault state, which means that in addition to liability insurance, drivers need to purchase personal injury protection (PIP). The state also ...
William Armstrong, who spearheaded the investigation. The Armstrong Committee, formally the Joint Committee of the Senate and Assembly of the State of New York to Investigate and Examine into the Business and Affairs of Life Insurance Companies Doing Business in the State of New York was an investigation begun in late 1905 when the New York State Legislature initiated an investigation of the ...
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 less than the minimum amount of ...
Formerly Executive Vice President, Chief Legal Counsel at The Guardian Life Insurance Company of America, Inc. [2] Formerly Superintendent of Insurance for New York State, he was nominated by Governor Eliot Spitzer and confirmed by the New York State Senate on April 18, 2007, as the 39th Superintendent of the New York State Insurance Department.
From May 24, 2011 until October 3, 2011, Lawsky was appointed, and served as, Acting Superintendent of Banks for the former New York State Banking Department, in which position he led Governor Andrew M. Cuomo's initiative to consolidate the New York State Banking Department and New York State Insurance Department towards a new financial ...