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Insurance & Financial Services
DFS to review covered benefits under new law
A new state law focuses on covered benefits related to childbirth offered by all health-insurance providers in New York State. The measure directs the New York State Department of Financial Services (DFS) — in consultation with the New York State Department of Health (DOH) — to prepare a report with recommendations on their review of those covered benefits. […]
Employer-sponsored health-insurance costs rose 6% in 2021
Total health-benefit costs rose 6.3 percent, on average, in 2021, reaching $14,542 per employee among all U.S. employer health-plan sponsors with 50 or more employees. That’s according to the annual Mercer “National Survey of Employer-Sponsored Health Plans” for 2021, which the firm released Dec. 13. The rise follows last year’s increase of just 3.4 percent, according to
UTICA, N.Y. — The Utica National Group Foundation has committed $125,000 to ICAN’s Family Resource Center, which will also house a new Children’s Museum. The
Groups applaud new state law permitting remote electronic notarizations
A new state law allows the permanent use of remote electronic notarizations in New York. The New York Credit Union Association (NYCUA) says the bill
Community Bank System appoints Knauss as new independent director
DeWITT, N.Y. — Community Bank System, Inc. (NYSE: CBU) recently announced it has appointed Jeffery (Jeff) Knauss to its board of directors as a new independent director. His election expands the banking company’s board to 13 directors, 12 of whom are independent. Knauss was also appointed to the board of directors of Community Bank, N.A.,
M&T Bank to pay increased quarterly dividend for Q4 on Dec. 31
M&T Bank Corporation (NYSE: MTB) recently announced that it has declared a quarterly cash dividend of $1.20 per share on its common stock for the fourth quarter. The dividend is up 10 cents, or 9 percent, from the $1.10 per share that the banking company paid shareholders in the third quarter. M&T Bank will pay
Syracuse small businesses can apply for pandemic-relief loans
SYRACUSE, N.Y. — Interested Syracuse small businesses have until Dec. 31 at 12 p.m. to apply for loans as part of the first round of new small-business lending programs funded by the American Rescue Plan Act (ARPA). The Syracuse Economic Development Corporation (SEDCO) on Dec. 3 started accepting applications for the $1 million that’s available
NONPROFIT MANAGEMENT: ‘Tis the Season for Donations
Tax-exempt organizations throughout New York state are in a state of confusion regarding future governmental funding and the potential for funding clawbacks. With governmental funding being unpredictable and costs increasing significantly in the current climate, more nonprofits are ramping up their fundraising efforts, thus increasing the competition for contributions. The ability to raise funds can make
Fulton Savings Bank names new CEO
FULTON, N.Y. — Fulton Savings Bank (FSB) announced it has named Pamela D. Caraccioli as its new president and CEO. She succeeds Michael J. Pollock,
ConMed to pay 4th quarter dividend of 20 cents in early January
ConMed Corp. (NYSE: CNMD), a surgical-device maker founded in the Utica area, recently announced that its board of directors has declared a quarterly cash dividend of 20 cents a share for the fourth quarter. The dividend is payable on Jan. 5 to all shareholders of record as of Dec. 15. ConMed manufactures surgical devices and
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