East News

New York Among States With Highest Rate of Motorcycle Theft

The New York Insurance Association (NYIA) advises that motorcycle thefts in New York increased by 23 percent from 2014 to 2015. According to a report from the National Insurance Crime Bureau (NICB), motorcycle thefts nationwide increased by 6 percent during …

JenCap Holdings Acquires Trivedi-Capacity in New Jersey

JenCap Holdings LLC, a portfolio company of private-equity giant Carlyle Group, has acquired Trivedi-Capacity Associates LLC, a specialist MGA and wholesaler based in Mahwah, New Jersey. Terms of the transaction were not disclosed. Trivedi-Capacity is a provider of specialty programs …

Vermont’s Latest Captive Bill Signed Into Law

Vermont Gov. Peter Shumlin has signed new legislation, H-538, that allows sponsored or industrial insured captives that are inactive to enter a dormant status. This status would allow such types of captives to be exempted from premium taxes but stay …

Xl Catlin Appoints McGrath as Fine Art & Specie Underwriter in NYC

Xl Catlin has appointed Kyle McGrath as Fine Art & Specie underwriter. She is based in New York City. In her new role, she will underwrite Fine Art and General Specie coverage for clients throughout the U.S. and will be …

Port Authority of N.Y.-N.J. Could Block $10M Newark-Uber Deal

A tentative deal between Newark, New Jersey, and ride-hailing company Uber has hit a roadblock. The Port Authority of New York and New Jersey, which operates Newark Liberty International Airport, is raising concerns about the city’s proposal to receive $1 …

Labrie Joins Hanover Stone Partners in Connecticut

Hanover Stone Partners, a risk management services firm based in Jersey City, New Jersey, has hired Daniel Labrie as senior risk advisor.

KMRD Partners Adds 2 Risk Managers in Pennsylvania

KMRD Partners, an insurance brokerage and risk management services firm based in Warrington, Pennsylvania, has hired John Garber and Karl Granlun as risk managers.

Hostetter Joins Jack Martin & Associates in Maryland

Jack Martin & Associates, a division of Easton, Maryland-based Avon-Dixon Agency, announced that Damon Hostetter has rejoined the firm.

Uber Hit With $11M Fine in Pennsylvania

Pennsylvania regulators fined Uber $11.4 million on April 21 — a record for the utility commission — for operating for six months in 2014 without the required approval. The company said it would appeal. The Public Utility Commission, which also …

New York Commences Liquidation Proceeding for Health Republic

The New York State Department of Financial Services (DFS) announced that it has commenced a liquidation proceeding for the failed insurance cooperative Health Republic. The New York State Supreme Court will be supervise the liquidation proceeding, with the DFS superintendent …

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