Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
New York DFS Becoming ‘National Player’ Among Insurance, Banking Regulators
Apr 7 2014 // On a June morning in 2012, New York bank examiners paid surprise visits to the offices of Ocwen Financial Corp., the biggest non-bank mortgage servicer. That break with tradition — examiners typically set up...
N.Y. Regulator Lawsky Sued by AIG Over Probe Into Unlicensed Insurance
Apr 3 2014 // American International Group Inc. sued to block New York’s top financial regulator, Benjamin Lawsky, from fining it over marketing insurance overseas without a state license, claiming it would be...
N.Y. Regulators Say MetLife Fined $60M, to Cooperate in Probe of AIG
Mar 31 2014 // MetLife Inc., the largest U.S. life insurer, will pay $60 million after New York watchdogs found subsidiaries solicited business in the state without a license and made intentional misrepresentations to regulators. MetLife...
Guilty Pleas Unsealed in Dewey Law Firm Fraud
Mar 31 2014 // A New York judge on March 28 unsealed the records of six former Dewey & LeBoeuf employees who pleaded guilty in connection with accounting fraud at the law firm. The records offer a fresh peek into the...
NYC Mayor Names New Team to Speed Up Sandy Rebuilding Efforts
Mar 31 2014 // New York City Mayor Bill de Blasio named a new team on March 29 to speed up efforts to help New Yorkers still recovering from Superstorm Sandy, saying he was “thoroughly dissatisfied” with previous results. De...
Proposal Envisions Artificial Islands Near N.Y. to Blunt Future Storm Surges
Mar 31 2014 // A string of artificial islands off the coast of New Jersey and New York could blunt the impact of storm surges that proved so deadly during Superstorm Sandy, according to a new proposal. It’s a big proposal —...
N.Y. Grand Jury Report Recommends Changes to Prevent Workers’ Comp Fraud
Mar 26 2014 // New York’s Manhattan District Attorney Cyrus R. Vance, Jr. announced Tuesday that a New York State Supreme Court grand jury has issued a report examining the vulnerability of New York’s workers’...
Arthur J. Gallagher Acquires Spataro Insurance Agency in New York
Mar 24 2014 // Arthur J. Gallagher & Co. announced that it has acquired Spataro Insurance Agency Inc. located in Burnt Hills, New York. Terms of the transaction were not disclosed. Founded in 1932, Spataro Insurance Agency is a...
Flood Insurance Fix Only Slows Rate Hike for 60K New Yorkers
Mar 24 2014 // For Gay Alexander, Superstorm Sandy “is not over,” she says, her voice cracking as she speaks about the cost for flood insurance on her damaged, waterfront Long Island home. The single mother of two...
N.Y. Scaffold Law Mischaracterized in New Study
Mar 24 2014 // New York’s construction contractors and insurance associations have been aggressive in their criticism of the state’s Labor Law 240, popularly known as the “Scaffold Law,” and have been lobbying...
Michigan Congresswoman Miller: Flood Insurance Bill Bad for State
Mar 24 2014 // A U.S. Congresswoman from Michigan wants her state to opt out of the National Flood Insurance Program, saying it’s not good for Michigan homeowners. U.S. Representative Candice Miller (MI-10) voted against H.R. 3370,...
Top 10 HOT Markets to Watch
Mar 24 2014 // Insurance Journal examined industries experiencing changes and expansions in the past year. Here are the top 10 market sectors that just might deliver hot opportunities for agents and brokers in the property/casualty...
Former NYCIRB Chief Auditor Joins SMP Consulting Group in N.Y.
Mar 20 2014 // SMP Consulting Group, a premium audit consulting firm based in Bay Shore, N.Y., has appointed Gary A. Sandford to the position of director of premium audit. Sandford previously served as chief auditor and vice president of...
N.Y. Sen. Urges USDA to Help Educate Dairy Farmers on Insurance Options
Mar 19 2014 // The recently-passed Agricultural Act of 2014 — also known as the 2014 Farm Bill — has a new dairy support program that is a significant improvement from the expiring Milk Income Loss Contract (MILC) program,...
Officials: 8 Victims of N.Y. Blast Died of Smoke, Burns, Trauma
Mar 19 2014 // Eight people killed in a suspected gas explosion that leveled two Manhattan apartment buildings in New York died of either blunt trauma, smoke inhalation or burns, officials said Monday. The autopsy results were released...
Viacom Settles $1B Copyright Suit Against Google Over YouTube Videos
Mar 19 2014 // Google Inc. and Viacom Inc. settled Viacom’s $1 billion lawsuit claiming YouTube violated copyrights by letting users post video clips from television shows without authorization after a federal judge twice threw out...
AXA Equitable to Pay New York DFS $20M Fine Over Annuity Changes
Mar 18 2014 // New York officials announced AXA Equitable will pay a $20 million fine to the state’s Department of Financial Services (DFS) for violating insurance law related to certain variable annuity products. DFS said its...
Federal Report: N.Y. Metro-North Railroad Allowed Safety to Erode
Mar 18 2014 // The second-largest U.S. commuter railroad allowed safety to erode while pushing to keep its trains on time, resulting in a lax culture of inadequate inspections, poor training and inappropriate cellphone use, according to...
N.Y. Court: Zurich Not Obligated to Defend Sony Units in Data Breach Litigation
Mar 17 2014 // A New York trial court recently ruled in a commercial general liability (CGL) policy coverage case that Zurich American Insurance Co. has no duty to defend Sony Corp. of America and Sony Computer Entertainment America in...
New York Regains Title As World’s Top Financial Center
Mar 17 2014 // New York replaced London as the world’s leading financial center for the first time, after the U.K. capital was rocked by a series of scandals and questions over the U.K.’s place in the European Union. New York...
