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In early 2009, the State Farm Florida subsidiary, the state's largest insurer, offered to withdraw from writing property insurance business in Florida after state regulators refused to approve a 47% property rate increase. State Farm said that, in Florida, it had paid out US$1.21 in claims for every dollar in premiums since 2000.
A State Farm Insurance sign on a destroyed building during the Eaton Fire in Altadena, California, US, on Wednesday, Jan. 8, 2025. (Michael Nigro—Bloomberg)
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]
In 1859, the New York State Legislature created the New York State Insurance Department, and assumed the functions of the Comptroller and Secretary of State relating to insurance. [1] The department began operations in 1860 and William F. Barnes was the first Superintendent of Insurance. [1]
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He was a member of the New York State Assembly from 1971 to 2002, sitting in the 179th, 180th, 181st, 182nd, 183rd, 184th, 185th, 186th, 187th, 188th, 189th, 190th, 191st, 192nd, 193rd and 194th New York State Legislatures. He left office in 2002, after losing to John J. Flanagan in a primary election for the New York State Senate. [1]
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