Insurance Journal » New York http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Fri, 18 Apr 2014 01:58:11 +0000 en-US hourly 1 http://wordpress.org/?v=3.8.2 Chicago-Based Schmitt Joins Worldwide Facilities to Professional Liability Team http://www.insurancejournal.com/news/midwest/2014/03/18/323588.htm Tue, 18 Mar 2014 15:36:34 +0000 http://www.insurancejournal.com/?p=323588 Worldwide Facilities Inc. added William (Bill) Schmitt to its professional liability team. He will work out of Worldwide’s Chicago, Ill., office. Schmitt has 20 years of professional liability insurance experience, primarily in lawyer’s professional liability, and has an in-depth knowledge …

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Veracity Insurance Expands Security Program to New York http://www.insurancejournal.com/news/east/2014/03/13/323231.htm Thu, 13 Mar 2014 16:56:11 +0000 http://www.insurancejournal.com/?p=323231 Veracity Insurance Solutions, LLC has expanded its alarm and security program into New York State. The addition of New York completes the list of territories allowing Veracity to provide coverage to the alarm and security industry nationwide. All coverage lines …

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Minnesota Participating in Insurance Climate Change Survey http://www.insurancejournal.com/news/midwest/2013/07/18/299037.htm Thu, 18 Jul 2013 22:45:05 +0000 http://www.insurancejournal.com/?p=299037 Minnesota has joined California, New York, Connecticut and Washington state in requiring insurers to respond to the Climate Risk Survey adopted in 2009 by the National Association of Insurance Commissioners (NAIC). Department of Commerce Commissioner Mike Rothman said his agency …

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I.I.I. : 93% of New Jersey/New York Sandy Claims Settled http://www.insurancejournal.com/news/east/2013/04/22/289363.htm Mon, 22 Apr 2013 16:58:47 +0000 http://www.insurancejournal.com/?p=289363 Insurance regulators in New Jersey and New York — the two states hardest-hit by Superstorm Sandy — report that insurers have settled 93 percent of the claims they received in the wake of Sandy, according to the Insurance Information Institute.More …

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New York State Releases Plans for $1.7B in Sandy Funds http://www.insurancejournal.com/news/east/2013/03/14/284712.htm Thu, 14 Mar 2013 14:08:06 +0000 http://www.insurancejournal.com/?p=284712 New York Gov. Andrew Cuomo announced statewide plans Tuesday to use $1.7 billion in federal storm-damage funds for home repairs, government buyouts of property in flood-prone areas, low-interest loans, flood-prevention measures, and other recovery work. Most of the money will …

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Report Questions Insurer Readiness, Attitudes on Climate Change http://www.insurancejournal.com/news/national/2013/03/07/283944.htm Thu, 07 Mar 2013 15:57:51 +0000 http://www.insurancejournal.com/?p=283944 A report out Thursday that details responses to a climate change survey from insurers doing business in California, Washington and New York shows many insurers are prepared to deal with today’s extreme weather events, but not longer-term “baseline changes” driven …

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Confie Eyes More Expansion, Push Into Standard Lines http://www.insurancejournal.com/news/national/2013/01/10/277081.htm Thu, 10 Jan 2013 22:59:57 +0000 http://www.insurancejournal.com/?p=277081 In the coming year Confie Seguros plans to up its buying spree and expand into standard personal and small commercial lines, while broadening its demographic from being primarily Hispanic focused, the president of the Buena Park, Calif.-based insurance agency said …

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N.Y. Sen. Schumer: Officials in Intense Lobbying Effort for Federal Sandy Aid http://www.insurancejournal.com/news/east/2012/12/03/272566.htm Mon, 03 Dec 2012 17:59:40 +0000 http://www.insurancejournal.com/?p=272566 New York Sen. Charles Schumer says New York expects to get tens of billions of dollars in federal money to cover damages from Superstorm Sandy.However, the Democrat told a news conference Sunday that it’s not a done deal. He says …

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N.Y. High Court Says Affair Is Medical Malpractice http://www.insurancejournal.com/news/east/2012/11/30/272346.htm Fri, 30 Nov 2012 15:47:09 +0000 http://www.insurancejournal.com/?p=272346 New York’s highest court says it was medical malpractice for a Long Island family doctor to have an affair with a married patient he treated for anxiety and depression but also ruled she shares fault since they both sought repeated …

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New York Gov. Cuomo Orders Insurers to Speed Up Sandy Claims http://www.insurancejournal.com/news/east/2012/11/30/272313.htm Fri, 30 Nov 2012 14:16:13 +0000 http://www.insurancejournal.com/?p=272313 New York Governor Andrew Cuomo on Thursday imposed emergency regulations on insurers to speed the processing of claims from hundreds of thousands of state residents whose properties were damaged or destroyed when Superstorm Sandy struck a month ago.Among the measures …

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Firms Partner to Offer Entertainment Insurance in Louisiana, Gulf South http://www.insurancejournal.com/news/southcentral/2012/11/29/272196.htm Thu, 29 Nov 2012 17:23:17 +0000 http://www.insurancejournal.com/?p=272196 New Orleans-based Maginnis Film & Entertainment Insurance Services LLC (MFEIS) and Reiff & Associates LLC announced a strategic partnership to provide insurance to the film and entertainment industries in Louisiana and the Gulf South region. Led by President Emory Maginnis, …

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Far Rockaway in NYC’s Queens Borough Copes With Sinkholes After Sandy http://www.insurancejournal.com/news/east/2012/11/29/272192.htm Thu, 29 Nov 2012 17:10:44 +0000 http://www.insurancejournal.com/?p=272192 Residents in Far Rockaway in New York’s Queens borough are now coping with sinkholes in areas that seemed stable before Superstorm Sandy. The city’s Department of Environmental Protection has determined that the holes were caused by damage to private water …

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New York, New Jersey Put $71 Billion Price Tag on Sandy http://www.insurancejournal.com/news/east/2012/11/26/271709.htm Tue, 27 Nov 2012 03:56:41 +0000 http://www.insurancejournal.com/?p=271709 New York state and New Jersey need at least $71.3 billion to recover from the devastation wrought by Superstorm Sandy and prevent similar damage from future storms, according to their latest estimates. The total, which could grow, came as New …

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New York Sues Credit Suisse Over Mortgage Securities http://www.insurancejournal.com/news/east/2012/11/21/271386.htm Wed, 21 Nov 2012 15:58:37 +0000 http://www.insurancejournal.com/?p=271386 New York Attorney General Eric Schneiderman brought a lawsuit on Tuesday accusing Credit Suisse Group AG of deceiving investors in mortgage-backed securities. Credit Suisse, Switzerland’s second-largest bank, misrepresented the quality of loans underlying residential mortgage-backed securities it sponsored and underwrote …

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AIR Worldwide Survey Team Describes Sandy Losses in N.J., N.Y. http://www.insurancejournal.com/news/east/2012/11/21/271384.htm Wed, 21 Nov 2012 15:48:01 +0000 http://www.insurancejournal.com/?p=271384 AIR Worldwide recently concluded damage survey of areas impacted by Superstorm Sandy, which made landfall on Oct. 29, five miles southwest of Atlantic City, New Jersey. On November 11, 2012, AIR teams were deployed to survey damage in New York …

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Attorneys Discuss Possible Triggers for Business Interruption Coverage http://www.insurancejournal.com/news/east/2012/11/20/271177.htm Tue, 20 Nov 2012 14:18:39 +0000 http://www.insurancejournal.com/?p=271177 Superstorm Sandy devastated residents and businesses in the tri-state area. With a nearly unprecedented two-day closure of the New York Stock Exchange, as well as week-long closures of the metropolitan area’s mass transit system, New York’s financial services sector and …

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N.Y. Workers’ Comp Board Seeks Changes to Medical Treatment Guidelines http://www.insurancejournal.com/news/east/2012/11/19/271060.htm Mon, 19 Nov 2012 17:23:56 +0000 http://www.insurancejournal.com/?p=271060 The New York State Workers’ Compensation Board has proposed new regulations to improve the medical treatment guidelines adopted in 2010. The proposed regulations, announced last week, aim to expedite the best medical care for injured workers and reduce medical costs. …

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New York Allows Out-of-State Lawyers to Help in Sandy http://www.insurancejournal.com/news/east/2012/11/19/271020.htm Mon, 19 Nov 2012 15:39:29 +0000 http://www.insurancejournal.com/?p=271020 New York’s highest court has invoked a major disaster rule to allow lawyers from other states to practice in New York and help victims of Superstorm Sandy for free. The court can allow the free legal work for victims with …

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N.Y. Gov. Cuomo: FEMA Program Will Cover N.Y. Home Repairs http://www.insurancejournal.com/news/east/2012/11/16/270957.htm Fri, 16 Nov 2012 17:49:08 +0000 http://www.insurancejournal.com/?p=270957 Federally-paid contractors will do basic repairs so tens of thousands of New York victims of Superstorm Sandy can stay in, or return to, their damaged homes during major work, New York Gov. Andrew Cuomo and federal officials announced Wednesday. The …

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Some Sandy-Damaged Manhattan Office Buildings to Reopen Soon http://www.insurancejournal.com/news/east/2012/11/14/270402.htm Wed, 14 Nov 2012 15:49:22 +0000 http://www.insurancejournal.com/?p=270402 Some Manhattan office buildings badly damaged by SuperStorm Sandy two weeks ago are coming back on line faster than even their owners predicted.One New York Plaza will allow the first group of its tenants to move back in next Monday, …

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Delays in Power Restoration After Storm Anger N.Y., N.J. Residents http://www.insurancejournal.com/news/east/2012/11/12/270208.htm Tue, 13 Nov 2012 02:54:40 +0000 http://www.insurancejournal.com/?p=270208 Utility companies in New York and New Jersey closed in on restoring power this past Sunday to the last of the 8.5 million customers who lost it during the superstorm two weeks ago and a subsequent nor’easter storm, but tens …

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Gov. Cuomo: Superstorm Sandy Could Cost New York State $33 Billion http://www.insurancejournal.com/news/east/2012/11/11/270168.htm Sun, 11 Nov 2012 21:35:52 +0000 http://www.insurancejournal.com/?p=270168 Damage and economic losses from Superstorm Sandy will cost New York state $33 billion, Gov. Andrew Cuomo said last Thursday, and come just as state government runs up a deficit. Cuomo called the estimate “a lot of money, even for …

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NYS Workers’ Comp Board: E-Claims Reporting on Schedule for 2013 http://www.insurancejournal.com/news/east/2012/11/07/269873.htm Thu, 08 Nov 2012 01:17:45 +0000 http://www.insurancejournal.com/?p=269873 The New York State Workers’ Compensation Board announced this week the “eClaims,” the electronic reporting of workers’ injuries, is on schedule for a 2013 implementation. The Board said it released the implementation requirements, supporting documentation and schedule for eClaims — …

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Some Homeowners Unexpectedly Hit With ‘Windstorm Deductible’ http://www.insurancejournal.com/news/east/2012/11/07/269822.htm Wed, 07 Nov 2012 17:57:03 +0000 http://www.insurancejournal.com/?p=269822 In the immediate days after Superstorm Sandy, officials in the Northeastern states declared that hurricane deductibles would not apply to Sandy claims. Officials from northeastern states including New York, New Jersey and Connecticut said hurricane deductibles wouldn’t be applicable in …

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New York, New Jersey Order Evacuations Ahead of New Storm http://www.insurancejournal.com/news/east/2012/11/07/269751.htm Wed, 07 Nov 2012 14:50:06 +0000 http://www.insurancejournal.com/?p=269751 [The National Weather Service updated its nor'easter forecast Wednesday morning. The agency said this strengthening coastal storm will impact northeast Wednesday into Thursday. A low pressure system off the Mid-Atlantic coast will continue to strengthen as it moves north on …

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Con Edison: 156,800 Customers in N.Y. Region Still Without Power http://www.insurancejournal.com/news/east/2012/11/06/269658.htm Tue, 06 Nov 2012 18:00:07 +0000 http://www.insurancejournal.com/?p=269658 Consolidated Edison says power has been restored to more than 80 percent of its customers who were blacked out in the storm. The utility still had 156,800 customers without power at midday Monday. That included about 68,000 homes and businesses …

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N.Y. Gov. Cuomo Eases Insurance Rules for Documenting Storm Damage http://www.insurancejournal.com/news/east/2012/11/06/269554.htm Tue, 06 Nov 2012 16:05:50 +0000 http://www.insurancejournal.com/?p=269554 New York Gov. Andrew Cuomo said Monday, Nov. 5, that he is ordering insurance companies to ease rules on documenting Sandy-related damages during the claims filing procedure. The governor said that, at his direction, the Department of Financial Services is …

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NYC Completes Inspections of Dangling ‘Hurricrane’ http://www.insurancejournal.com/news/east/2012/11/02/269268.htm Fri, 02 Nov 2012 22:25:55 +0000 http://www.insurancejournal.com/?p=269268 Experts are reviewing plans to secure the arm of a crane that’s been dangling off a luxury high-rise in midtown Manhattan. City officials said on Thursday, Nov. 1, that inspections of the crane have been completed. Meanwhile, the city has …

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N.Y. Gov. Cuomo: New Yorkers Won’t Have to Pay Hurricane Deductible for Sandy http://www.insurancejournal.com/news/east/2012/11/01/268718.htm Thu, 01 Nov 2012 14:35:28 +0000 http://www.insurancejournal.com/?p=268718 New York Governor Andrew Cuomo announced Wednesday that New York homeowners will not have to pay potentially large hurricane deductibles on insurance claims stemming from damage caused by Sandy. New York joins other northeastern states — New Jersey, Maryland and …

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N.Y. Gov. Cuomo Says Long Island Hit Hardest by Sandy Power Outages http://www.insurancejournal.com/news/east/2012/10/31/268584.htm Wed, 31 Oct 2012 16:28:19 +0000 http://www.insurancejournal.com/?p=268584 New York Gov. Andrew Cuomo said yesterday that 90 percent of Long Island utility customers were without electricity after Sandy ravaged the New York City metropolitan area. He also says hundreds of lives were saved by New York City police, …

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