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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]
Today, funding for one of our most vital programs, the Patient Rights Helpline, is about to be cut from $231,500 to a mere $31,500 annually, and the Managed Care Consumer Assistance Program, or ...
In the second session a model law was passed; many states adopted a standard fire insurance policy known as the New York Standard Fire Policy of 1886. [5] It has been argued that the policy was designed to favor the industry, as it contains various conditions which, if not adhered to, render the policy void.
The first state commissioner of insurance was appointed in New Hampshire in 1851 and the state-based insurance regulatory system grew as quickly as the insurance industry itself. [4] Prior to this period, insurance was primarily regulated by corporate charter, state statutory law and de facto regulation by the courts in judicial decisions.
At various times in the past, the New York state government has taken money from NYSIF's reserves to cover other budget shortfalls. Between 1982 and 1990, $1.3 billion was transferred to the state's general fund under Governor Mario Cuomo. In 1996 the practice was banned by state law.
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 ...
The Albany Health and Human Services Corporation (AHHSC) will be financed through the sale of outstanding Albany County Department of Social Services (DSS) debt. Albany County, New York and the State of New York will hold no liability or responsibility for principal or interest payments on bonds or debt issued by the AHHSC.