Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
Bond Insurer MBIA Wins Dismissal of Bank Claim Over Restructuring
Mar 4 2013 // MBIA Inc. on Monday won the dismissal of a lawsuit by Bank of America Corp. and Societe Generale SA challenging its 2009 restructuring, sending the bond insurer’s shares up 24 percent. New York Supreme Court Justice...
Banks Trying to Expedite New York Storm Insurance Checks
Mar 4 2013 // The New York Department of Financial Services says five of the state’s largest banks and mortgage services will have representatives available this week to help homeowners cash insurance settlement checks from...
Allstate Slaps 2 N.Y. Medical Corporations With $1.7M Fraud Lawsuit
Feb 28 2013 // Allstate Insurance Company said it is seeking to recover $1.7 million against New York area defendants in its second insurance fraud lawsuit of 2013. Since 2003, Allstate has filed 46 fraud lawsuits in New York State...
N.Y. Seeks to Finalize Still-Unresolved Sandy Claims; Insurers to File Weekly Reports
Feb 28 2013 // New York regulators said this week insurers would be required to follow additional rules to expedite the resolution of remaining Sandy-related claims in New York. These new regulations will now cut the amount of time an...
Industry Group Testifies on Sandy Claims Handling Process in New York
Feb 27 2013 // An insurance industry association testified about insurers’ response to Superstorm Sandy and the lessons learned at a hearing Tuesday before the New York Assembly Standing Committee on Insurance. The American...
N.J., N.Y. to Offer Mediation Program for Sandy Claims Disputes
Feb 26 2013 // New Jersey Gov. Chris Christie announced Monday his administration’s plan to offer a mediation program option to Sandy victims who are in dispute with their insurers.Gov. Christie, seen here at a Jan. 24 news...
Superstorm Sandy Delivers Q4 Blow to Tower Group
Feb 26 2013 // More than $80 million of after-tax net losses from Superstorm Sandy drove bottom-line red ink at New York-based Tower Group Inc., which reported a net loss of $52.1 million, or $1.36 per share, for the fourth quarter of...
N.Y. Insurers ‘Report Cards’ Show 70% of Sandy Claims Closed With Payment So Far
Feb 25 2013 // The New York regulators’ latest Sandy response report cards show 272,878 Sandy-related claims — representing 70 percent of some 389,801 Sandy claims filed in the state — have been closed with payment, as...
People – East
Feb 25 2013 // Willis Group Holdings plc said Martin Sullivan – a former American International Group CEO who joined the brokerage in 2010 and has been serving as the Group’s deputy chairman and chairman and CEO of the Willis...
Closing Sandy Claims
Feb 25 2013 // It’s been more than three months since Superstorm Sandy wrought havoc across the East Coast last fall. And since then, the property/casualty insurance industry has stepped up to deliver its promise to customers and...
N.Y. Regulators to Examine 3 Insurers for Claims Practices Related to Sandy
Feb 22 2013 // New York Gov. Andrew Cuomo announced Thursday that the Department of Financial Services is investigating the claims practices of three insurers following the aftermath of Superstorm Sandy. The three insurers are:...
World Trade Center Developer Challenges Airline’s ‘Act of War’ Defense for 9/11 Attacks
Feb 20 2013 // The leaseholder of the World Trade Center properties is asking a U.S. federal judge to reject arguments that American Airlines is not liable for damages stemming from the Sept. 11, 2001 hijackings because the attacks were...
Submerged Superstorm Debris Raising Pollution, Boater Safety Concerns
Feb 20 2013 // On the surface, things look calm and placid. Just beneath the waterline, however, it’s a different story. Cars and sunken boats. Patio furniture. Pieces of docks. Entire houses. A grandfather clock, deposited in a...
New York Officials: Include Hudson Areas in Flood Study
Feb 20 2013 // New York officials are calling on the U.S. Army Corps of Engineers to include Hudson River communities in a $20 million study of flood-prone areas in the wake of Superstorm Sandy. Sen. Charles Schumer says local...
Commentary: N.Y. Court’s Latest Take on Insured’s Duty to Read Policy
Feb 19 2013 // The New York Court of Appeals recently found that the insured’s failure to read the insurance policy does not bar claims for broker negligence in failing to procure requested insurance. Almost one hundred years ago...
Upstate New York Woman Sentenced for Crash Fraud Scheme
Feb 15 2013 // Authorities announced this week that a Utica, N.Y., woman has been sentenced for her role in an insurance and health care fraud scheme. The U.S. Attorney’s Office for the Northern District of New York said Cynthia...
163K Nonfatal Workplace Injuries, Illnesses Reported by N.Y. Private Employers in 2011
Feb 14 2013 // Almost 163,000 nonfatal workplace injuries and illnesses were reported among New York private industry employers in 2011, according to data published today by the U.S. Bureau of Labor Statistics. That number translates to...
Insurer Reports Sandy Flood Claims Resolving Quickly
Feb 14 2013 // A bulletin by the National Flood Insurance Program helped spur quicker processing of Sandy flood-related claims. Prior to the bulletin, claims were adjusted according to the policy and guidelines established by the Federal...
Banks Sitting on $208M in Insurance Checks for N.Y. Sandy Victims
Feb 13 2013 // Nearly $208 million in insurance payments in 6,600 checks haven’t been released from banks to victims of Superstorm Sandy, according to New York Gov. Andrew Cuomo.N.Y. Gov. Cuomo says some $208 million in insurance...
U.S. Chief Claims Officer Named for Navigators Management Co. in N.Y.
Feb 12 2013 // The Navigators Group Inc. recently appointed Christopher Finneran as U.S. chief claims officer of Navigators Management Company Inc., the Group’s principal underwriting agency subsidiary. Finneran will be responsible...
