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NY Insurance Exchange Patterned After Lloyd's Back on Track

A working group commissioned by the state of New York is close to finalizing a proposed business plan to restart the state's insurance exchange under...
July 6, 2011

A working group commissioned by the state of New York is close to finalizing a proposed business plan to restart the state's insurance exchange under a Lloyd's of London type structure, officials said. Members of the working group said the plan will be presented to potential investors and syndicates in addition to industry stakeholders like insurance regulators. "We're in a good spot right now," said James Wrynn, superintendent of the New York Insurance Department. He said he is "guardedly optimistic" that the working group will finish its business proposal this year.

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