As complaints regarding insurance rate hikes begin to weigh on regulators in New York, the state’s Financial Services Superintendent, Benjamin Lawsky, has announced a new investigation into the matter. Regulators will be investigating the data submitted by insurance companies to justify their premium increases. The goal is to determine the accuracy of the data that these insurers use. These investigations will work alongside the regular rate review process and insurers will not know when they will be investigated. Lawsky notes that any errors made by insurers in their requests for…
Read MoreTuesday, April 23, 2024
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