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State and Local Government › New York › Insurance Industry

Zelle LLP

The Aftermath of Covid-19 – New York’s Expansion of Business Interruption Coverage

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It is without question that Covid-19 affected the insurance industry worldwide resulting in substantial litigation commenced by insureds to recoup losses linked to government mandated shutdowns for nonessential businesses....more

McDermott Will & Schulte

New York Executive Budget Proposes Amendments to MCO Provider Tax

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The New York State Executive Budget for Fiscal Year (FY) 2026 proposes significant updates to the managed care organization (MCO) provider tax, aiming to enhance Medicaid funding through innovative financial strategies. The...more

McDermott Will & Schulte

New York State Budget Institutes Revenue-Neutral Health Plan Tax

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The New York State fiscal year 2024 – 2025 budget was signed on April 20, 2024, instituting, among many other provisions, a new tax on health plans, including insurers and managed care organizations. This tax has been...more

McDermott Will & Schulte

New York Says Less Than 10% Ownership Is Not a Safe Harbor

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On April 19, 2022, the New York Department of Financial Services (NYDFS) issued Circular Letter No. 5, reminding owners and potential purchasers of shares of insurance companies that acquiring less than 10% of the company’s...more

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