The New York State Insurance Department has licensed its first two life settlement providers under a new state law.

Eric Dinallo, the former New York insurance superintendent, is expected to join the law firm of Debovoise & Plmpton as a partner, according to a media report.

The New York State Insurance Department ordered a health plan to reinstate coverage for a state resident whose coverage was terminated mistakenly when the state’s COBRA continuation coverage expired after 15 months.

New York insurance regulators clamped down on 20 health insurers and HMOs operating in the state by fining them a total of $716,800 for failing to promptly pay claims.

New York Insurance Department Superintendent James J. Wrynn is scheduled to deliver the keynote address at the New York Insurance Association’s 2010 annual conference.

Two insurance trade groups jointly filed suit May 25 against the New York State Insurance Department asking the New York State Supreme Court to halt implementation of a new broker compensation disclosure rule.

New York’s insurance superintendent is preparing for a new high-risk insurance pool to help uninsured residents with a goal of having the program operational by this summer.

Failure to properly license its agents for Medicare Advantage business will cost a New York health provider a $1 million fine by state regulators.

A new regulation mandating life settlement providers operating in New York to pay a $10,000 licensing fee are set to take effect next month, with one association lauding regulators for not imposing a higher charge.

AXA Equitable Life Insurance Co. paid a $1.9 million fine for violating New York’s insurance laws between 2001 and 2006, regulators said.