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New York Announces First in Nation Regulation

New York Gov. Andrew M. Cuomo announced a new regulation to prohibit insurance companies from refusing to provide commercial crime insurance coverage to New York businesses that employ people with criminal convictions...
January 4, 2017

New York Gov. Andrew M. Cuomo announced a new regulation to prohibit insurance companies from refusing to provide commercial crime insurance coverage to New York businesses that employ people with criminal convictions. The effort — the first of its kind in the nation — will make it easier for businesses across the state to hire formerly incarcerated individuals upon re-entry, helping them obtain the necessary coverage for any loss or damage caused by an employee with a criminal record.

“It is simply inexcusable for an insurer in New York to exclude a potentially valuable employee from insurance coverage just because he or she has a criminal conviction,” said Department of Financial Services Superintendent Maria T. Vullo. “So long as every business owner follows the letter of the law, we should encourage more companies to hire prospective employees rather than punish someone for a mistake in the past.”

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