Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
New York Rule Says Insurers Must Seek Beneficiaries
May 16 2012 // Insurers doing business in New York are now required to regularly search a government list of recent deaths to identify policyholders, then find and pay beneficiaries even when no claims are made. New York State Department...
Judge Denies Delay of BofA Directors’ $20 Million Settlement Over Merrill
May 15 2012 // A U.S. federal judge in New York on Monday refused to delay the approval process for a controversial $20 million settlement between Bank of America Corp. directors and shareholders who accused the bank of overpaying for...
AIG Ex-CEO Greenberg Fights Ruling on Reinsurance Fraud Charges
May 15 2012 // Former American International Group Inc. Chief Executive Maurice “Hank” Greenberg said New York’s attorney general should be barred from invoking a 91-year-old state law in a fraud case over two suspect...
PGI Acquires N.Y.-Based Program Administrator American Altair Group
May 14 2012 // PGI Commercial, the U.S. program manager of Bermuda-based insurance distributor Primary Group, has acquired the assets American Altair Group. American Altair Group (AAG), based in Hauppauge, N.Y., is a full-service program...
The Dewey Chronicles: Rise and Fall of a Legal Titan
May 14 2012 // It was a tale of doom foretold in a pie chart. On Jan. 27, Dewey & LeBoeuf’s partners were summoned to a meeting on the 22nd floor of the law firm’s New York City headquarters to discuss the firm’s...
New York Judge Orders Anonymous Blogger into Court Over Business Reports
May 14 2012 // A New York judge has ordered an anonymous blogger to appear in court next week over accusations that the blog Alfredlittle.com wrote false reports about a Chinese company to drive down the stock. The blogger was served...
Guy Carpenter Names New CEO, COO for U.S. Operations
May 11 2012 // Guy Carpenter & Co. LLC, a global risk and reinsurance intermediary division of N.Y.-headquartered Marsh & McLennan Companies, appointed Andrew Marcell as chief executive officer of U.S. operations and Pete...
Judge to Insurer: Pay Legal Fees in Pending Insider Trading Fraud Case
May 11 2012 // A federal judge said during a court hearing in New York on Thursday he is prepared to order an insurance company to keep paying the legal fees of several former hedge fund managers and traders caught up in an insider...
New York Fines 15 Insurers Over Mental Health Notices
May 10 2012 // New York regulators have fined 15 insurers $2.7 million for failing to notify small businesses they were eligible to buy special coverage for mental illnesses and children with serious emotional...
N.Y. Officials Target Safety on Dangerous Roadway in Nassau County
May 9 2012 // Safety upgrades are planned for a New York highway that has averaged five pedestrian deaths annually since 2005. Officials in Nassau County are targeting repainted crosswalks, increased signal time for walkers, and...
Reinsurance Fraud Case Against AIG Ex-CEO Greenberg Going to Trial
May 9 2012 // A New York appeals court on Tuesday gave former American International Group Inc. Chief Executive Maurice “Hank” Greenberg a partial victory in the state’s fraud lawsuit against him over two suspect...
ACE Westchester Appoints VP in New York
May 8 2012 // ACE Westchester, the U.S.-based wholesale-focused insurance division of the ACE Group, appointed Richard Luca as vice president of management liability for its professional risk division. He is based in the greater New...
Deadly Crash in Bronx Raises Concerns About New York’s Aging Roadways
May 8 2012 // A freak parkway accident that wiped out three generations of a Bronx family late last month is being touted by some transportation advocates as more evidence that New York City’s aging highway system needs major...
Probe Finds N.Y. Paid Prison Inmates Improper Workers’ Comp Benefits
May 7 2012 // An investigation from the New York State comptroller’s office found that the State Insurance Fund improperly paid seven inmates more than $36,000 in workers’ compensation benefits while they were in state...
Business Moves – East
May 7 2012 // Worldwide Facilities, Privett Worldwide Facilities, a Los Angeles-based independent surplus-lines broker and managing general agency, acquired assets of Privett Special Risk Services, a New York City-based...
People – East
May 7 2012 // Marsh & McLennan Companies Inc. said Alexander Moczarski, CEO of Guy Carpenter, has assumed the additional role of chairman at Marsh & McLennan Companies International. Moczarski will continue to be based in New...
Hartford Reaches Settlement Over AD&D Policies
May 7 2012 // Hartford Life Insurance Company, a subsidiary of The Hartford Financial Services Group, agreed to give $24 million in premium credits to some 300,000 New York residents who bought the company’s accidental death and...
N.Y. Court Ruling May Open Door for More Asbestos Suits Against Pfizer
May 7 2012 // A New York federal appellate court ruling last month could allow more asbestos liability suits to proceed against pharmaceutical giant Pfizer. The appellate court’s decision affirms the previous ruling last year from...
In East Region, Insurance Sector Hiring Is ‘Slightly Elevated’ in 2012
May 7 2012 // The insurance employment market in the East and Northeast regions — as in most other parts of the country — can be summed up the following way: hiring is “slightly elevated” compared to last year, but there...
N.Y.-Based Alleghany Acquires Stake in Manufacturing Firm Bourn & Koch
May 4 2012 // New York-based global specialty insurer Alleghany Corporation said its investment management unit acquired a majority stake in manufacturing firm Bourn & Koch. Terms of the transaction were not disclosed. Alleghany,...
