Showing 25 to 48 of 144 items. Page:
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With its unique mission in place and its offices in New York and Albany set up, The American Life Insurance Congress (ALIC), a 501(c)(6) not-for-profit trade group, began operation as a true congress representing every sector of the life insurance industry, and has invited industry leaders to join in the effort, according to Mark Ross, chairman and CEO of ALIC, and president of Mark Ross and Company, Inc.
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Defendant insurer denied coverage to plaintiff homeowner after her house collapsed. The homeowner brought this declaratory judgment action. The insurer moved for summary judgment, which was denied by Supreme Court, Nassau County. The Appellate Division reversed.
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Plaintiff Granite Avenue Utility Corporation commenced this suit to recover damages and attorneys fees against defendants for the alleged failure to procure insurance coverage, and negligence.
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You dont appreciate your parents until you are an adult. My father was a great businessman who made a living in the garment business in New York. When I was growing up, he taught me to respect a profit. Hed see store owners reduce their prices to move inventory under the belief that theyd make it up in volume, and hed say, Thats no way to hold on to a profit. He was very smart.
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Way back when each of the five boroughs of New York City had its own brokers association, there were names such as the Brooklyn Brokers Association, The Metropolitan Brokers Association (Manhattan), the Queens County Association, and so on, all the way out to Richmond County.
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In this case, wrote the Appellate Division, we address the issue of whether or not a plaintiff who has been granted a default judgment on the issue of liability in a case seeking compensation for personal injuries arising from a motor vehicle accident is required to demonstrate the element of serious injury at the inquest on damages. For the reasons that follow, we conclude that, unless the issue of serious injury has been previously determined, the plaintiff must demonstrate at the damages inquest proof of a serious injury before there can be any recovery for pain and suffering arising from a motor vehicle accident.
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There is no one in New York who could find fault with the recently-enacted workers compensation reform. Governor Eliot Spitzer and the state Legislature are to be commended for bringing together business and labor and creating legislation that will increase benefits to injured workers while at the same time reducing workers compensation costs for businesses.
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Defendant Federal Insurance Company (Federal) moved to stay this courts opinion and judgment which held that Federal was obligated to pay the defense costs of certain claims brought against Tower Automotive, Inc. (Tower) under the Employee Retirement Income Security Act of 1974 (ERISA). The motion was granted.
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Ive been in the insurance business all my life, yet I am constantly learning. Early on during my career, I found out that insurance agents and brokers are probably the best teachers. These folks have traveled down the long road of insurance experiences, many times hitting some bumps along the way. Producers are an excellent source of information, and some have permitted me to share the following conversations:
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In this subrogation action, plaintiff insurers sought reimbursement of monies they paid on a claim for property damage to the owner of a building in which defendant Larry Feingold resided. In February 2003, Feingold attempted suicide in his 12th floor apartment in Stuyvesant Town by turning on the gas to his stove and taking tranquilizers. After he fell into an unconscious state in front of the oven, a spark in the apartment ignited the gas, causing an explosion which seriously damaged Feingolds apartment and a number of neighboring apartments in the building.
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The Germans have an expression: gestern grosse leute, aber heute? (Yesterday, bit shots, but today?). Again and again, we meet older friends who lament the passing of this company, that agency; this man, that woman, and conclude that the best days of the Independent American Agency system are in the past. Surely, the passing of great brands (Home, Reliance, and the rest), the morphing of other brands, (Actna P/C, GA, Hanover and many more), and the consolidation a-go-go of agencies since roughly 1985 (when post-war agency owners got to retirement age) all seem to point to a pessimistic or gradually evaporating outlook. The suppliers we all once knew and the regional carriers, well, most of them are not where they once were, either. This independent 118 year old former weekly, for example, is now a fortnightly and part of a bigger news and data group, and on and on. The associations have changed rather radically to the point of facelessness, in some cases, and, in others, to evisceration.
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As I write this column, the nation is preparing to celebrate Independence Day. Independence is a derivative of the word independent, which is the primary qualification of the agents and brokers that associations like IIABNY represents. Being independent is one of our greatest assets. However, the freedom to operate independently can hurt, too. Sometimes, association members, as independent business people, find it difficult to work as a group on issues of mutual interest.
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I came to know Tom Sternberg when he was president of the Independent Insurance Agents of Westchester County some years ago. It comes to me as no surprise that his agencies continued to grow in the manner of so many across the country. In fact, the demography of Westchester Countys insurance agencies mergers and acquisitions and consolidations mirrors the entire agency system in the state of New York.
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In a decision which may be one of first impression, the Appellate Division has held that an illegal alien who is injured on the job does not qualify for additional compensation that is normally available to injured workers who lose more than half of the use of certain body parts.
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In this DJ action, Airolite, a manufacturer of commercial louver products, sought coverage from its insurer, Valley Forge. Airolite had contracted with Glassalum to design and manufacture custom-made louvers for the curtain wall of a new office building. The louvers were to be installed by Glassalum. Part of the specifications was that the louvers had to meet certain criteria with regard to noise and vibration.
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In this DJ action, defendants New Jersey Manufacturers Insurance Company and McCarthy appealed from a Supreme Court order declaring, in effect, that plaintiff insurers obligation to indemnify the defendants in the underlying personal injury action was limited to the statutory minimum. The Appellate Division affirmed.
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In an action to recover damages for personal injuries, the plaintiff appealed from an order of the Supreme Court, Nassau County (Martin, J.) which granted the defendants motion for summary judgment. The Appellate Division affirmed.
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Price is the only determining factor in buying insurance!
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In this no-fault benefits suit, defendant insurer moved to renew and reargue a prior order granting summary judgment to plaintiffs. In granting plaintiffs summary judgment, the court had held that they had established, prima facie, that their office manager had personally mailed the pertinent no-fault claim forms to defendant and that defendant had failed to deny plaintiffs claims timely. Defendant raised no objection to plaintiffs prima facie case.
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This week, I saw a report by Standard and Poors that said the aftermath of the Wall Street bid-rigging scandal is largely over for the Big 3 insurance brokers, but that they still face difficulties. Standard and Poors said the brokerages have pretty much recuperated, but the market is softening and rate pressure will continue, so lack of organic growth will slow down broker resurgence in the wake of the bid-rigging and price steering scandal.
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American Transit Insurance Company failed to make an appearance in two prior petitions by another insurer to stay UM arbitration. Apparently (it is inferred but not specifically stated in this decision), because American Transit defaulted in those petitions, the court there made a ruling that American Transit owed coverage to its insured. The plaintiff here apparently then sued Americans insured and obtained a judgment on default. Plaintiff then brought this proceeding to enforce the judgment against American Transit.
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This appeal arose out of the collision of an automobile driven by plaintiff Craig Clementoni and a train operated by the Consolidated Rail Corporation (Conrail). The accident occurred at around 6:00 P.M. on September 27, 1994, as plaintiff was driving across a set of railroad tracks at an unmarked grade crossing intersecting a private gravel road owned by defendantsRaymond and Gertrude Skowron in northeast Erie County.
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In the first decision of its kind, so far as I have seen, the Appellate Term has relaxed the standard by which no-fault insurers establish their founded belief that a claim is fraudulent.
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Recently, my youngest son came to me with some exciting news: he had decided to get some training and open his own business. I was truly excited because I feel he has the right frame of mind to be an entrepreneur. My happiness was crushed when he went on to inform me he was thinking of getting his insurance license and opening an agency. I immediately thought of all the young people over the years that had discussed this same dream with me only to have their hopes and enthusiasm crushed by an industry that really doesnt support or like young entrepreneurs opening insurance agencies.
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