Court Administration Office
Homepage http://www.ins.state.ny.us
LinkedIn Profile https://linkedin.com/company/new-yo***surance-dep***
HQ Location
United States 10004 United States
The Insurance Department is responsible for supervising and regulating all insurance business in New York State. The Department’s mission is to:
(1). Ensure the continued sound and prudent conduct of insurers’ financial operations;
(2). Provide fair, timely and equitable fulfillment of insurer obligations;
(3). Protect policyholders from financially impaired or insolvent insurers;
(4). Eliminate fraud, other criminal abuse and unethical conduct in the industry; and
(5). Foster growth of the insurance industry in the State.
The Department carries out its supervisory function by issuing licenses to agents, brokers, consultants, reinsurance intermediaries, adjusters, and bail bondsmen; conducting examinations of insurers to determine their financial condition, treatment of policyholders and claimants, and underwriting practices; and auditing each company’s annual reports.
The Department carries out its regulatory function by determining qualifications of insurers; regulating rates, certain reti
Insurance, Risk Management and Actuarial Science
The Insurance & Risk Management industry is involved in the assessment and management of risks associated with business activities . Companies in this field specialize in underwriting insurance policies and providing risk management advice to businesses .
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