Showing 1 to 24 of 144 items. Page:
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I had a really nice experience last week. A marketing rep for one of my companies visited my agency for a year-end review and to discuss our sales growth. You can imagine this is not always an experience to which an agent looks forward, but this particular company had a nice holiday message for me.
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Response brought this DJ action seeking a declaration that it did not owe defendants a defense or indemnity in an underlying bodily injury lawsuit.
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The independent agency business is changing at breakneck speed. Agents are experiencing many inter-related factors that are affecting their businesses. They include:
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In April 2006, plaintiffs Jamila Z. Wright and Claudette Jennings purchased a 2002 Lexus automobile for $28,000. The plaintiffs applied for insurance through defendant DCAP Bayside, Inc., an insurance broker, which alleged that it informed them that they had to obtain a photo inspection of the vehicle in order to have coverage for physical damage, including theft. The broker allegedly gave the plaintiffs a notice which read in relevant part: This notice will also serve as a reminder that the above described vehicle must be inspected by the date indicated or physical damage coverage will be suspended 12:01 a.m. on the above inspection completed date. If you need to have the photo inspection done please call CARCO at 1-800-969-2272.
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Sometimes I learn more by listening to questions, than hearing the answers. Thats especially true when the questions come from numerous agents and brokers across New Jersey. When many of the same questions are repeated by these insurance professionals, I listen carefully, that way I can get a good perspective on our Garden State marketplace.
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A friend of mine recently asked me about the wildfires in California. Are they going to start raising everyones rates now? As it happened, I had just read a press release from the Insurance Information Institute (I.I.I.) on the subject.
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On September 12, 2005, the Civil Court of the City of New York, Kings County, granted plaintiffs motion for summary judgment on default, awarding plaintiff $635 for first party no-fault insurance benefits. The judgment was filed and entered on September 16, 2005.
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I just finished reading National Underwriter editor-in-chief Sam Friedmans blog (Brokers Sour When Talk Turns To Fees, November 9, http://www.property-casualty.com/2007/11/brokers_sour_when_talk_turns_t.html#more) that highlighted the supposed woes of Willis, Aon, and Marsh " who cant accept contingency payments due to their settlements related to bid-rigging. I have no sympathy for these mega-brokers.
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Some time ago, Insurance Advocate regularly published a column by Michael Carbajal entitled On the Level. Michael was among our most popular writers for many years largely because of his relationship with Momma Garcia. Momma Garcia was his sage advisor who gave her advice, she said, to the store front broker. Momma Garcia always said to find out whats going on in the insurance industry, just ask the store front broker.
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In this proceeding to stay uninsured motorist arbitration sought by Hoque against American Transit, the insurer sought to add American Independent Ins. Co. as an additional party respondent, over American Independents opposition on the grounds that it does no business in New York. American Transits motion was granted by Supreme Court, New York County. The First Department reversed.
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Long Islands coastal homeowners availability issue is old news for those of us who deal with it on a daily basis at our agencies. And I, personally, have lost my sexy baritone voice discussing it. As early as the beginning of 2006, I testified before the New York State Insurance Department at a public hearing on the issue. If you remember, that was immediately after Allstates announcement that it would withdraw from the Long Island market. A few weeks ago, I had the privilege of being called to testify on behalf of PIANY again in front of the New York State Senate Standing Committee on Insurance. I have to say I was pleased to see our new insurance superintendent take initiative with these proceedings. The arrogance that Allstate displayed almost two years ago was infuriating. I sensed no respect for the insurance buying public, for our former Superintendent Howard Mills, or even for the department, as Allstate held that it was within its lawful rights to non-renew policies and limit exposure in the region.
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This action arose from a pedestrian knockdown that occurred while the plaintiff was vacationing in Florida. A motor vehicle driven and owned by an uninsured motorist struck the plaintiff while she was crossing a street in a crosswalk. As a result of the accident, the plaintiff sustained fractures of her left leg.
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I just returned from IIABNYs NeXt Generation Insurance Professionals Annual Statewide Convention in Saratoga Springs. Being around so many young insurance professionals got me thinking about our industry and what it will be like in the next five or ten years. Several issues came to me immediately.
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Can an illegal alien be denied no-fault benefits for refusing to provide his Social Security number when in fact he does not have one? The insurer in this case made that argument, and lost.
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Fall is a beautiful time of year. The change of seasons always turns my mind to lifes propensity to thrive. But, particularly in the fall, I am conscious of progress and renewed enthusiasm.
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Plaintiff, a pedestrian, was struck down by a motor vehicle owned and operated by non-party, Frederick Lamb, on February 23, 2005. Plaintiff testified that she exited the stationery store known as 50% Off Cards and was standing in front of the store when she was struck by the motor vehicle.
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Perhaps some of you viewed GEICOs first two years in our Garden State and thought this insurer would pull out? Well, think again.
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As New Yorks workers compensation reform moves forward, it is difficult to determine if the end product will achieve the anticipated long-term effect. Everyone praised Governor Eliot Spitzer and the state Legislature for passing this much-needed legislation when it was first unveiled. Finally, the broken New York workers compensation system would be fixed. Injured workers could expect to see increased benefits, and New York businesses could expect to see reduced insurance costs. Everyone was hopeful the changes would signal increased competition.
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In this action by a provider to recover first-party no-fault benefits for an August 17, 1999 psychological evaluation of its assignor, plaintiff moved for summary judgment. Defendant cross moved for summary judgment arguing that plaintiff was ineligible to receive reimbursement of no-fault benefits because plaintiff was fraudulently incorporated, relying on State Farm Mut. Auto. Ins. Co. v Mallela (4 NY3d 313 [2005]). Finding that the defense of improper incorporation was waived because defendant failed to assert the defense in its denial of claim form or in its answer, the Civil Court, Queens County (Dunbar, J) awarded plaintiff summary judgment. The Appellate Term reversed.
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In this subrogation action to recover insurance benefits paid to the plaintiffs insured, the plaintiff failed to comply with a so-ordered stipulation that contained a conditional order of preclusion which had required it to produce discovery responses by a certain date, and the Supreme Court, Queens County (Dorsa, J.), granted the defendants motion for summary judgment dismissing the complaint. The Appellate Division affirmed.
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Struggling with people resisting the changes you know you need to make in your organization or group? Dont know how to get buy-in from people so that you can change things for the better? Challenged by an undercurrent of resistance to your attempts to move your organization forward?
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The question presented on this appeal was whether a premium finance agency, which sought to cancel an assigned risk automobile insurance policy because of the insureds failure to make required payments under the premium finance agreement, had to advise the insured of a particular right of review in order for the cancellation to be effective. The Second Departments answer was no.
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This was an appeal from an order from Civil Court, Queens County (Gerald Dunbar, J.) which denied MVAICs motion for summary judgment. The Appellate Term reversed and dismissed the complaint.
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A considerable amount of attention has been bestowed lately on the IBM survey released in May. The survey indicates three-quarters of consumers are very satisfied with the service provided by their agents, and remain committed to working with the agents in the future. This is great news and agents should take great pride in this achievement. I would, however, caution agents not to grow lax or rest on their laurels.
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