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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. Continuing education for insurance professionals is regulated by each state's Department ...
SuperintendentTook OfficeLeft Office20092011July 4, 2009August 18, 2009January 29, 2007July 3, 2009January 1, 2007January 28, 2007The New York State Banking Department. In 1791, the New York State legislature authorized a charter for the first state bank, the Bank of New York. A law in 1829 set up a Bank Fund later renamed the Safety Fund, to guarantee the payment of debts of insolvent state banks. All State-chartered banks were required to make an annual contribution to ...
The Home Life Insurance Company based in Brooklyn, New York was the first life insurer to be authorized by the newly formed New York State Insurance Department in 1860. Superintendent Barnes supervised the filings of 155 fire insurance companies and 16 life insurance companies during his first year in office. [1] By the 1870s, each state ...
The Department of Financial Services supervises and regulates the activities of more than 3,000 financial institutions with assets totaling more than $9.7 trillion as of Dec. 31, 2023. The types of institutions regulated by the Department include: More than 1,900 insurance companies with assets of more than $6.4 trillion, including: More than ...
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 ...
From 1901 through 1904, first as Vice-President, then as President, Theodore Roosevelt followed essentially the same policy toward the New York GOP leadership as he had in the past. As yet, the Empire State was unaffected by the tide of. mand for party reform was only sporadic.
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The 1978 insurance exchange legislation authorized the drafting of a constitution, which was adopted by statute in February 1979. The New York Insurance Exchange finally opened its doors on March 31, 1980. Ominously, the following day – April 1, 1980 – was the first day of an infamous 10-day transit strike in New York City.
