New York Insurance Information Portal
New York's insurance industry dates back to the mid-19th century, when in 1849 the first general insurance law in the United States was passed. Prior to 2011, the New York State Insurance Department (NYSID) was the main regulatory body for all insurance matters in the state. However, in October of 2011, NYSID was merged with the New York State Banking Department, in an action that established the New York DFS.
Since 2011, the insurance industry in the State of New York has been regulated by the New York State Department of Financial Services (DFS), based on the Title 11 of the New York Codes, Rules and Regulations (NYCRR).
NEW YORK INSURANCE 101
General information about the insurance industry in New York
What is the Purpose of Insurance in New York
The purpose of insurance in New York is to protect businesses and individuals from personal risks, liability risks, or property risks that may otherwise lead to larger losses. Insurance contracts function to allow you (the insured) to transfer your risks to the insurance provider, by paying a fee (premium) for this protection.
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What Organizations Provide Protection to Insurance Consumers in New York and What Do They Do?
The state of New York protects its residents on the insurance market in multiple ways. Besides the overall regulation through the Department of Financial Services (DFS), state guaranty associations also play a pivotal role in the stability of the industry as a whole...
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How Insurance Works in New York
Insurance in New York is offered by the government, private, and public organizations...
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The Most Important Insurance
The desire to feel safe and secure is one of the basic human needs. Insurance helps us do just that, by making sure that we ourselves, the people around us, and our stuff are covered, in case of an emergency, loss, or damage.
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Things you should know about New York insurance
How To Save Money on Insurance
The best thing one can do to save money on insurance New York insurance, by type: Health, Auto, Home, Life, and Commercial.
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