Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
Best Affirms, Upgrades SCOR’s No. American Subs Ratings; Outlook Stable
May 4 2012 // Following its rating actions on the parent company, France’s SCOR SE, A.M. Best has upgraded the issuer credit ratings (ICR) to “a+” from “a” and affirmed the financial strength rating (FSR)...
Former Aon Executive Named as CEO of N.Y.-Based Reinsurer Southport Re
May 2 2012 // New York-based reinsurance holding company Southport Re appointed Glenn Weber to the newly created position of chief executive officer. Southport Re is part of New York-based private equity firm Southport Lane. Glenn...
New York Proposes New Rule to Crack Down on No-Fault Insurance Fraud
May 2 2012 // New York State regulators are expanding their effort to stop no-fault auto insurance fraud. The New York Department of Financial Services announced on Tuesday a new draft regulation, Regulation 68, that would make it...
Former N.Y. Agents Sentenced to Jail for Swindling Elderly Clients
Apr 30 2012 // New York regulators said two former insurance agents who pled guilty to swindling $400,000 from elderly clients by fraudulently changing beneficiary information on annuity contracts have been sentenced to jail time and...
N.Y. Regulators to Hold Hearings on Force-Placed Insurance in May
Apr 26 2012 // New York’s financial regulators will hold hearings on the so-called force-placed insurance next month. These hearings will be open to the public and will also be webcast over the Internet. Benjamin Lawsky,...
New York, Florida Associates of ‘Mini-Madoff’ Arrested
Apr 26 2012 // Four associates of a New York businessman convicted in a $400 million Ponzi scheme were arrested Wednesday on charges they pocketed nearly $38 million in commissions for their efforts in advancing the fraud, federal...
Goldman Must Defend Bond Insurer’s Fraud Claims
Apr 25 2012 // Goldman Sachs Group Inc. must defend fraud claims brought by a bond insurance company over its notorious Abacus mortgage product deal, a New York state judge ruled, but she decided that the investment bank did not unjustly...
N.Y. Gov. Cuomo Says Life Insurers Paid Over $262M After Probe
Apr 24 2012 // New York Gov. Andrew Cuomo said this week that a regulatory investigation into how insurers tracked life insurance policyholders resulted in 32,715 payments to consumers nationwide. The overall amount paid by insurers is...
N.Y. Gov. Cuomo Announces Storm Aid for L.I. Counties
Apr 24 2012 // New York Gov. Andrew Cuomo said the state is providing $8.5 million to Nassau and Suffolk counties on Long Island. The money will be used to pay expenses from damage done last year by Hurricane Irene and Tropical Storm...
New York to Get $61M in Drug Company Settlement on Vioxx
Apr 23 2012 // New York Attorney General Eric Schneiderman says New York will get $61 million from last week’s national settlement with drug maker Merck & Co. to resolve an investigation into the marketing of the painkiller...
N.Y. Law Firm Dewey & LeBoeuf Retains Bankruptcy Counsel, Role Unclear
Apr 20 2012 // Elite New York law firm Dewey & LeBoeuf has hired a prominent bankruptcy attorney as it struggles with high debt and partner defections, according to two attorneys at other law firms who have knowledge of the...
Lawyer Pursuing U.S. Claims in News Corp. Phone Hacking Scandal
Apr 20 2012 // The News of the World phone hacking scandal moved closer to the United States after British lawyer Mark Lewis teamed up with two New York lawyers to pursue claims that four of his clients had been hacked by Rupert...
Hartford to Give $24M in Premium Credits to N.Y. AD&D Policyholders
Apr 19 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. Official: More ‘Prescribed Burns’ Needed to Prevent Brush Fires
Apr 19 2012 // A Long Island official says budget cutbacks of “prescribed burns” have helped imperil thousands of acres of woodland during brush fires in recent days. Brookhaven Town Supervisor Mark Lesko is calling for a...
N.Y.-Based Specialty Insurer Assurant Turns 120 Years Old
Apr 19 2012 // Assurant, a New York-based provider of specialty insurance and insurance-related products and services, celebrated its 120th anniversary Wednesday by ringing the ceremonial closing bell at the New York Stock Exchange,...
N.Y.-Based USI Buys Assets of Compass Insurance, Expands in Southwest
Apr 19 2012 // USI Insurance Services, an insurance brokerage firm headquartered in Briarcliff Manor, N.Y., acquired certain assets of BBVA Compass Insurance Agency, a unit of BBVA Compass, a financial holding company headquartered in...
Allied World U.S. Appoints P/C Division President in New York
Apr 18 2012 // Allied World Assurance Company Holdings AG said industry veteran Lou Iglesias joined Allied World U.S. as president of the property/casualty division. He will be based in New York City. His responsibility will include...
Data Show Risk Highest for New Motorcycle Riders
Apr 17 2012 // Jeff Foley got a motorcycle for his 40th birthday last year followed by the weekend training course that gave him a New York license. Within the first few months, the 450-pound, low-slung cruising bike fell over twice...
Executive Life Liquidation Plan Gets N.Y. Court’s OK
Apr 17 2012 // A New York judge on Monday approved a plan to liquidate the long-insolvent Executive Life Insurance Co of New York and pay out most of the money owed to beneficiaries under the company’s life insurance policies. The...
COO Named for New York-based Work At Home Vintage Employees
Apr 17 2012 // Work At Home Vintage Employees LLC (WAHVE), a New York City-based company that provides domestic remote staffing services for insurance firms, appointed Frank Sentner as chief operating officer. Previously, Sentner was...
