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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 ...
Insurance broker. An insurance broker is an intermediary who sells, solicits, or negotiates insurance on behalf of a client for compensation. An insurance broker is distinct from an insurance agent in that a broker typically acts on behalf of a client by negotiating with multiple insurers, while an agent represents one or more specific insurers ...
Website. www .dfs .ny .gov. The New York State Department of Financial Services ( DFS or NYSDFS) is the department of the New York state government responsible for regulating financial services and products, including those subject to the New York insurance, banking and financial services laws. [1] [2]
Unlike insurance agents who service one or more insurance companies, brokers represent clients, helping them find the best insurance policies to meet their unique needs. While using a broker can ...
Marsh Inc. Marsh is a global professional services firm, headquartered in New York City with operations in insurance broking and risk management. Marsh is a subsidiary of Marsh McLennan and a member of its Risk & Insurance Services business unit. [2] Currently, approximately 45,400 Marsh employees provide risk management, insurance broking ...
Marsh & McLennan Companies, Inc. Marsh & McLennan Headquarters at 1166 6th Avenue in New York City Company type Public Traded as NYSE: MMC S&P 500 component Industry Insurance brokers Professional services Founded 1905 ; 119 years ago (1905), in Chicago, Illinois, U.S. Headquarters 1166 Avenue of the Americas, New York City, New York, U.S. Key people H. Edward Hanway (Chairman) Dominick Burke ...
Formal regulation of the insurance industry began in earnest when the first state commissioner of insurance was appointed in New Hampshire in 1851. In 1859, the State of New York appointed its own commissioner of insurance and created a state insurance department to move towards more comprehensive regulation of insurance at the state level.
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an ...
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