Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
Greenberg’s $25B Suit Against Government Over AIG Bailout Can Proceed
Jun 27 2013 // Maurice “Hank” Greenberg can continue his $25 billion lawsuit against the U.S. over losses from the bailout of his former company, American International Group Inc., without making claims on behalf of the...
Port Authority Police Officer Accused of Insurance Fraud in New York
Jun 26 2013 // A Port Authority police officer has been charged with insurance fraud for claiming he was disabled while moonlighting in a rock band. Authorities say Christopher Inserra defrauded the AFLAC insurance company and the Port...
Sandy-Ravaged Rockaway Peninsula in New York Receives Recovery Grant
Jun 25 2013 // A community organization in Sandy-ravaged Rockaway, Queens, has received a grant of more than $721,000 from the American Red Cross. The Friends of Rockaway will use the money to hire local plumbers, electricians and...
Ex-AIG CEO Greenberg Must Face N.Y. Suit, Appeals Court Says
Jun 25 2013 // Former American International Group Inc. Chief Executive Officer Maurice “Hank” Greenberg must face a fraud lawsuit brought by the New York attorney general, the state’s highest court ruled. The state can...
XL Group Names Regional VP for Marine in New York
Jun 25 2013 // XL Group appointed John Ellis as a regional vice president for its North America Marine business in New York. In his new role, Ellis will be responsible for managing and building XL Group’s Marine Cargo, Primary and...
Insurers Abandon Long Island After Superstorm, N.Y. Senator Schumer Says
Jun 25 2013 // Allstate Corp. is among insurers retreating from the Long Island, New York, homeowners market after superstorm Sandy and should be compelled to offer coverage there, New York Senator Charles Schumer said. Liberty Mutual...
Supreme Court Rejects Pfizer Bid for Shield From Asbestos Suits
Jun 24 2013 // The U.S. Supreme Court refused to shield Pfizer Inc. from some asbestos lawsuits connected to its Quigley Co. subsidiary, a bankrupt unit that stopped most operations in 1992. The justices today rejected Pfizer’s...
Group Applauds New York Assembly for Resolution Urging TRIA Extension
Jun 21 2013 // An insurance industry association is applauding the New York Assembly for adopting Resolution K611-2013, urging the New York State Congressional delegation to take action as soon as possible to extend the federal Terrorism...
Heffernan Acquires N.Y.-Based Consuasor Insurance Advisors
Jun 19 2013 // Walnut Creek, Calif.-based Heffernan Insurance Brokers recently acquired Consuasor Insurance Advisors in New York. Founded in 2006, Consuasor is a multi-lines middle market broker with offices in New York City and Long...
Police Boost Presence in Sandy-Damaged Sections of New York
Jun 18 2013 // Police have increased their presence in New York City neighborhoods still struggling with the aftermath of Superstorm Sandy. The Staten Island Advance says break-ins left some residents on the island so frustrated and...
Con Ed Installing ‘Smart Switches’ in N.Y. to Limit Power Failures
Jun 17 2013 // Con Edison’s chief executive said on June 14 that the company is installing hundreds of so-called smart switches that can limit the number of electric customers affected when a tree takes down a power line. Chairman...
Insured Property Values in Coastal States Top $10 Trillion; Florida Has Most at Risk; Miami Ranks 2nd Among Metros
Jun 17 2013 // In separate reports AIR Worldwide and CoreLogic estimated insured property values in coastal areas of the United States reaching into the trillions of dollars. CoreLogic, focusing on residential properties exposed to storm...
4.2M U.S. Homes at Risk of Storm-Surge Damage: CoreLogic
Jun 17 2013 // More than 4.2 million homes along the U.S. Atlantic and Gulf Coasts are located within storm-surge risk zones, totaling more than $1.1 trillion in property exposure, according to residential property information and...
N.Y. Reaches Agreements With 4 More ‘Force-Placed’ Insurers
Jun 17 2013 // New York officials announced that the state’s “force-placed” insurance reforms will now cover 100 percent of the New York market after the New York State Department of Financial Services (DFS) reached...
Regulators Examining Insurers’ Cyber Security Readiness
Jun 17 2013 // New York’s top financial regulator has asked some of the largest U.S. insurance companies to disclose details on their preparedness for cyber attacks, following a similar request to major banks earlier this year. The...
People – East
Jun 17 2013 // New Hampshire’s Executive Council has unanimously confirmed the reappointment of Roger Sevigny to another five-year term as the state’s insurance commissioner. New Hampshire Gov. Maggie Hassan nominated Sevigny...
NYC Resiliency Task Force Urges Raised Homes, Toxic Material Safety
Jun 14 2013 // New York City’s buildings would be required to provide drinking water in common areas and have exterior plugs for temporary generators under proposals to make homes and businesses more resistant to major...
N.Y.’s Call for Moratorium on Life Insurance Captives Questioned by NAIC
Jun 13 2013 // National Association of Insurance Commissioners President Jim Donelon questioned the need for a countrywide halt on approvals of captive insurance deals one day after New York’s regulator said the transactions hide...
Berkshire Hathaway’s Eastwood Hiring Specialty Team to Vie with Ex-Employer AIG
Jun 13 2013 // Peter Eastwood, who left American International Group Inc. with three other executives in April to start a new insurer at Warren Buffett’s Berkshire Hathaway Inc., said he’s finding it easy to attract...
N.Y. Says Life Insurers’ Use of ‘Shadow Insurance’ Could Hurt Policyholders
Jun 12 2013 // New York State’s financial regulators issued a report today that found a widespread use of captive, reinsurance entities by New York-based life insurance companies. Calling these arrangements “shadow...
