East News

Most Litigation Over Corzine’s Failed MF Global Settled with $132M Deal

Jon Corzine has settled a lawsuit by the trustee for the former New Jersey governor’s company MF Global Holdings Ltd, as part of a $132 million accord to end much of the remaining litigation over the brokerage’s 2011 collapse. Lawyers …

Gas Company to Test Other Pipelines Near Blast in Western Pennsylvania

A federal agency has ordered a natural gas pipeline company to conduct additional assessments on three lines buried in western Pennsylvania, including one that has corrosion similar to a fourth line that blew up in April, scorching some 40 acres. …

Miraculously, No One Seriously Hurt in Crane Collapse onto Tappan Zee Bridge at Noon

Most of the lanes of the Tappan Zee Bridge north of New York City have reopened after a crane collapsed across the entire width of the bridge on Tuesday, but transportation officials were still advising motorists to plan for extra …

New York Seeks $1 Million Insurance Limits for Boxing, Legalized Mixed Martial Arts

New York will require $1 million coverage for life-threatening brain injuries and other new health insurance for both professional boxers and its first group of licensed mixed martial artists under regulations slated to take effect in September. The State Athletic …

U.S. Can’t Seize Manhattan Building Over Iranian Terror Claims: Court

A federal appeals court said on Wednesday the U.S. government cannot seize a midtown Manhattan office tower originally built by the Shah of Iran, whose owners it claimed were fronts for the Iranian government. The 2nd U.S. Circuit Court of …

New York Workers’ Compensation Loss Costs Going Up 9.3%

New York has approved a 9.3 percent average hike in workers’ compensation loss costs. The new benchmarks will go into effect Oct. 1. New York businesses, while not pleased, see the hike as necessary in order to keep the insurance …

BUA Launches Prize & Promotion Insurance Services, Taps Woodbury to Lead

BUA, LLC of Portsmouth, N.H., has launched Prize & Promotion Insurance Services (PPI). PPI will be led by 25-year industry veteran, Jack Woodbury. PPI will focus on three main promotion insurance product lines: Prize Indemnity Insurance covers prizes that are …

Cross Insurance Acquires Maine’s Sargent, Tyler & West

Maine’s Cross Insurance reported it has acquired another leading Maine insurance agency, Sargent, Tyler & West in Bangor, and its Bucksport branch office, Roland Grindle Insurance Agency. Sargent, Tyler & West has been in business for nearly 200 years. Michael …

Maine’s Clark Insurance Adds 4 Employees

Maine’s Clark Insurance has added four employees in its Portland office. Nicholas Jobin of Westbook has been hired as an associate Aacount manager in the Business Insurance Services Department. Jobin is a graduate of St. Joseph’s College of Maine. Dana …

Pennsylvania Jury Clears NASCAR, Pocono Raceway in Lightning Death

A jury has ruled that a Pennsylvania racetrack didn’t cause harm to a man killed by lightning minutes after an August 2012 NASCAR race was stopped. The Pocono Record reported that the jury ruled in favor of Pocono Raceway and …

East News Archives by Month