{"id":460705,"date":"2021-04-28T13:36:01","date_gmt":"2021-04-28T17:36:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=460705"},"modified":"2021-04-28T13:36:06","modified_gmt":"2021-04-28T17:36:06","slug":"new-york-is-pressuring-regulated-insurance-companies-to-hire-based-on-diversity-goals","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/new-york-is-pressuring-regulated-insurance-companies-to-hire-based-on-diversity-goals\/","title":{"rendered":"New York Is Pressuring Regulated Insurance Companies To Hire Based On \u2018Diversity\u2019 Goals"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fnew-york-is-pressuring-regulated-insurance-companies-to-hire-based-on-diversity-goals%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=460705&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/04\/fb_image-1985.jpeg\" class=\"ff-og-image-inserted\"  style=\"display:none\"><\/div>\n<p>New York has put pressure on regulated insurance companies throughout the state to ensure their leadership positions are filled by a diverse group of people based on race, gender, and ethnicity.<\/p>\n<p>The New York Department of Financial Services sent <a href=\"https:\/\/www.dfs.ny.gov\/industry_guidance\/circular_letters\/cl2021_05\">a message<\/a> last month to all domestic and foreign insurance companies regulated by the state telling them to \u201cmake diversity of their leadership a business priority and a key element of their corporate governance.\u201d The DFS added that they would be collecting and publicizing the race, gender, and ethnicity makeup of the companies\u2019 leadership for \u201ctransparency,\u201d which really means they will open them up to mob shaming for not hiring enough non-white people.<\/p>\n<p>\u201cDFS has evaluated different regulatory approaches to promote DEI in the insurance industry, including the imposition of quotas and the collection and disclosure of diversity data on a company-by-company basis\u2026.\u00a0Based on our research and outreach, we have determined that the best way for DFS to support the insurance industry\u2019s DEI efforts is by collecting and publishing data relating to the diversity of corporate boards and management. Data collection is essential to identify areas for improvement, set goals and measure progress toward those goals. Given the limited availability of insurance-specific diversity data, making that information public will allow companies to assess where they stand compared to their peers and, we hope, raise the bar for the entire industry. Transparency is a powerful catalyst for change,\u201d DFS wrote.<\/p>\n<p>Hans Bader, an attorney well versed in constitutional law, <a href=\"https:\/\/libertyunyielding.com\/2021\/04\/27\/new-york-pressuring-insurers-into-race-based-hiring\/\">wrote<\/a> at Liberty Unyielding that the directive from DFS \u201craises potential constitutional problems, because government agencies are not supposed to pressure regulated firms to use race or gender in hiring decisions.\u201d<\/p>\n<p>\u201cIn 1998, an appeals court struck down an FCC regulation that prodded companies to try to achieve diversity goals in hiring, by auditing them if they failed to achieve those goals,\u201d Bader added. The FCC was also took a court loss in 1992 when a court rejected its plan to consider gender when awarding broadcast licenses in an effort it said would promote diverse perspectives.<\/p>\n<p>Because of these and other similar court rulings, Bader argued, the New York DFS should not be able to similarly force businesses to consider qualities such as gender or race even if they are doing it to promote \u201cdiverse perspectives to problem-solving.\u201d<\/p>\n<p>More from Bader:<\/p>\n<blockquote readability=\"17.236749116608\">\n<p><em>Hiring based on race or gender can be quite harmful. Whether or not naturally-occurring \u201cdiversity\u201d helps employers perform better, coerced hiring based on gender or race does not. Pressure to hire based on race or gender can damage a company\u2019s performance by resulting in less qualified hires. After Norway adopted gender diversity rules for corporate boards \u2014 requiring companies to have boards of directors comprised of at least 40 percent women \u2014 unqualified people ended up as corporate directors. \u201cA study by the University of Michigan found that this led to large numbers of inexperienced women being appointed to boards, and that this has seriously\u00a0<a href=\"https:\/\/www.economist.com\/node\/18988506\"><strong>damaged those firms\u2019 performance<\/strong><\/a>.\u201d<\/em><\/p>\n<p><em>Even on government boards, where representing society at large can be more important than paper qualifications, judges have said that gender quotas and set-asides are unconstitutional. Courts have struck down gender-balance requirements for boards and commissions in cases such as\u00a0<a href=\"https:\/\/scholar.google.com\/scholar_case?case=14144113380649269606&#038;hl=en&#038;as_sdt=2&#038;as_vis=1&#038;oi=scholarr\"><strong>Back v. Carter<\/strong><\/a>\u00a0(1996), rejecting the argument that setting aside seats for women and minorities promotes \u201cinclusion\u201d and \u201cdiversity.\u201d<\/em><\/p>\n<\/blockquote>\n<p><a href=\"https:\/\/reason.com\/volokh\/2021\/04\/16\/n-y-government-pressuring-regulated-insurance-companies-into-diversity-hiring\/\">H\/T Eugene Volokh<\/a><\/p>\n<p><em>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a\u00a0<\/em><a href=\"https:\/\/www.dailywire.com\/subscribe\"><em>member<\/em><\/a><em>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York has put pressure on regulated insurance companies throughout the state to ensure their leadership positions are filled by a diverse group of people based on race, gender, and &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2276920,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/04\/fb_image-1985.jpeg","fifu_image_alt":"New York Is Pressuring Regulated Insurance Companies To Hire Based On \u2018Diversity\u2019 Goals","footnotes":""},"categories":[],"tags":[],"class_list":["post-460705","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/04\/fb_image-1985.jpeg","fifu_image_alt":"New York Is Pressuring Regulated Insurance Companies To Hire Based On \u2018Diversity\u2019 Goals","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/460705","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=460705"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/460705\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2276920"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=460705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=460705"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=460705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}