Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
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...
NYC Mayor Bloomberg Proposes $20B Flood Plan After Sandy
Jun 11 2013 // New York Mayor Michael Bloomberg called for a $20 billion system of flood barriers to protect low-lying areas from storms almost eight months after Hurricane Sandy devastated the region. In a report released today, the...
Chubb Must Face Bear Stearns Suit Over Coverage for SEC Deal
Jun 11 2013 // Chubb Corp.’s Vigilant Insurance must face a lawsuit by Bear Stearns Cos. accusing the insurer of breach of contract for refusing to pay part of a U.S. Securities and Exchange Commission settlement, New York...
A New Threat for Hardest-Hit Sandy Victims: Soaring Flood Insurance Costs
Jun 10 2013 // George Kasimos has almost finished repairing flood damage to his waterfront home in New Jersey, but his Superstorm Sandy nightmare is far from over. Like thousands of others in the hardest-hit coastal stretches of New...
Brown & Brown Announces Asset Acquisition of Rollins Agency in New York
Jun 10 2013 // Brown & Brown of New York Inc, a subsidiary of Brown & Brown Inc., said it acquired certain assets of The Rollins Agency in Rye Brook, N.Y. With roots dating from 1910, The Rollins Agency provides a wide range of...
N.Y. Scrutinizing Sandy Rebuilding Contracts for Potential Overcharges
Jun 7 2013 // New York State Comptroller Thomas DiNapoli is examining the billions of dollars being spent to rebuild after Superstorm Sandy a month after he forced one vendor to cut its price by more than $63,000. DiNapoli discovered...
S&P Wins Transfer of Ratings Lawsuits by States to Federal Court in New York
Jun 7 2013 // Standard & Poor’s and its parent company McGraw Hill Financial Inc. on Thursday won a ruling that moves 15 lawsuits in which they were accused of fraudulently inflating credit ratings to a single federal...
Groups Warn N.Y. Assembly’s Insurance Reform Bills Have Potential to Backfire
Jun 6 2013 // Industry groups are warning that the New York State Assembly’s recent approval of the post-Sandy insurance reform package has the potential to backfire and are urging the state Senate not to take up this...
N.Y. Assembly Approves a Flurry of Post-Sandy Insurance Reform Bills
Jun 5 2013 // The New York State Assembly approved on Tuesday a comprehensive post-Sandy insurance reform package comprised of 14 pieces of legislation. All approved measures now move to the state Senate for further consideration. The...
AIG CEO Comments on ILFC Sale, ‘Systemically Important’ Classification
Jun 5 2013 // American International Group Inc. Chief Executive Officer Robert Benmosche raised doubt about whether the company will complete a sale of its plane-leasing unit to a Chinese investor group by a deadline this...
N.Y. Reaches Reform Agreements With 4 Additional ‘Force-Placed’ Insurers
Jun 3 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...
Tokyo Prepares for a 1-in-200-Year Flood to Top Sandy
Jun 3 2013 // Tokyo, the world’s most populated metropolis, is building defenses for the possibility of a flood in the next 200 years that could dwarf the damage superstorm Sandy wrought on the U.S. East Coast. Japan’s...
New York City Tops List of Cities With Most Questionable Claims
Jun 3 2013 // New York City tops the list of U.S. cities with the highest number of questionable insurance claims, according to the latest analysis by the National Insurance Crime Bureau (NICB). The NICB’s annual look at...
New York Legislators Take Aim at ACC Clauses
Jun 3 2013 // The New York State Assembly’s insurance committee on May 23 approved a bill that would prohibit the insurers’ use of anti-concurrent causation (ACC) clauses in the state. The bill, A07455, was introduced by...
Former U.S. Federal Reserve Insurance Counsel Frank Alerte Joins Colodny, Fass, Talenfeld, Karlinsky, Abate & Webb
May 31 2013 // Ft. Lauderdale, FL, 5/31/13 – Frank Alerte, a former executive insurance counsel at the U.S. Federal Reserve, Guy Carpenter and BB&T, has joined the law and governmental consulting firm of Colodny, Fass,...
AIG Ends a Bailout-Related Lawsuit Against N.Y. Federal Reserve
May 30 2013 // American International Group Inc. has agreed to end litigation against the Federal Reserve Bank of New York over whether the insurer retained the right after its 2008 taxpayer-funded bailout to sue over losses on...
