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- #11
NY has a higher reserve requirement than other states. The companies don't like it because they have to put aside more than they want. NY will also not allow use of the "self owned" re-insurance companies that are all the rage.
The comp in NY is bad but these laws? I like them. Plenty of Term and GUL carriers in NYS. Just thought it was interesting that such a large company made this move.
The comp in NY is bad but these laws? I like them. Plenty of Term and GUL carriers in NYS. Just thought it was interesting that such a large company made this move.