Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
Ryan Specialty Group to Acquire WKFC Underwriting Managers in New York
Apr 3 2012 // Chicago-based Ryan Specialty Group said its subsidiary RSG Underwriting Managers is acquiring WKFC Underwriting Managers in New York. Terms of the transaction were not disclosed.Ryan Specialty Group CEO Patrick G....
N.Y. Agency Groups Will Not Appeal Recent Disclosure Ruling
Apr 2 2012 // It looks like the courtroom battle has ended for New York State’s broker compensation disclosure regulation. In March, the New York appeals court agreed with the lower court and said insurance regulators were within...
Judge Throws Out Investor Lawsuit Against Bank of America Over Mortgages
Mar 30 2012 // Bank of America Corp. on Thursday won dismissal of a lawsuit by investors who wanted the bank to buy back mortgage loans that underlie more than $1.06 billion of securities. The case is tied to risky home loans issued by...
N.Y.-based Gill & Roeser Bought Out by Two Executives
Mar 29 2012 // Two senior Gill & Roeser executives acquired reinsurance intermediary Gill & Roeser Inc. and Gill & Roeser Holdings Inc., a registered broker/dealer, financial advisory and investment banking firm. Terms of...
Nix the Tape on Home Windows, Say Hurricane Officials
Mar 29 2012 // Officials with the National Hurricane Center had a message this week for residents living in hurricane-prone areas: Don’t tape your windows. Center officials are joining with a consumer advocate group at the National...
‘Tebow-Mania’ Kicks Off Nike Damages Claim Against Reebok
Mar 29 2012 // Nike Inc. is accusing Reebok of trying to score an illegal Tim Tebow marketing touchdown. Nike sued its rival in U.S. District Court, saying that Reebok used the popular NFL quarterback’s name and number on New York...
N.Y. Law Firm Sutherland Expands Insurance Practice Group
Mar 27 2012 // Sutherland Asbill & Brennan, a New York-headquartered law firm, said it hired six attorneys specializing in insurance regulatory, tax and transactions. They are: James Dwyer, Jeffrey Mace, John Pruitt, Linda Sciuto,...
N.Y. Court to Unemployed Law School Grads: Buyer Beware
Mar 27 2012 // A New York court sided with a law school in a case that alleged that the school misled its students about post-graduate employment prospects. The Supreme Court of the State of New York dismissed last week a lawsuit brought...
Fund Lawsuit in New York Against Madoff Auditor Dropped
Mar 26 2012 // The liquidators of a fund that once funneled money to the now-imprisoned swindler Bernard Madoff have dropped a $900 million lawsuit accusing Ernst & Young LLP of negligence, professional malpractice and breach of...
Facebook Says Emails Show New Yorker’s Lawsuit a Fraud
Mar 26 2012 // Facebook Inc. released emails by founder Mark Zuckerberg from his days at Harvard University to bolster its arguments that a wood-pellet salesman who sued for a 50 percent stake in the social media company lied and forged...
Travelers Exec Joins XL Group as VP for Ocean Marine Unit in New York
Mar 23 2012 // Ireland-headquartered XL Group plc’s North American marine business appointed Chris Cooke as vice president, hull and liabilities. Chris Cooke The appointment is part of XL’s strategy to expand its brown-water...
N.Y. State Senate Passes Auto Insurance Fraud Measures
Mar 23 2012 // New York lawmakers want to slam the brakes on the auto insurance fraud. On Thursday, the state’s Senate passed three bills to fight auto insurance fraud. These measures will now move to the state Assembly for...
Morgan Stanley Directors Win Pay Lawsuit Dismissal
Mar 23 2012 // Twelve directors of Morgan Stanley have won dismissal of a shareholder lawsuit accusing them of letting the Wall Street bank overpay its employees even while accepting taxpayer-funded federal bailouts. Shareholders accused...
N.Y. Financial Services Chief Pushes for State Health Exchange
Mar 23 2012 // New York State’s top financial regulator is urging the Republican majority in the state’s Senate to help establish the health insurance exchange. Gov. Andrew Cuomo and the Democrat-controlled Assembly, along...
N.Y.-based Guy Carpenter CEO Moczarski to Take On Additional Role
Mar 22 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...
N.Y. Agency Groups Will Not Appeal Compensation Disclosure Ruling
Mar 21 2012 // It looks like the courtroom battle has ended for the New York State’s broker compensation disclosure regulation. Earlier this month, the New York appeals court agreed with the lower court and said insurance...
New York Mets Owners Settle in Madoff Case, Avoid Trial
Mar 19 2012 // The owners of the cash-strapped New York Mets baseball team agreed to pay $162 million to settle a lawsuit by the trustee seeking money for the victims of Bernard Madoff’s fraud, averting a potentially embarrassing...
N.Y. Reaches Settlement With Insurer on Lead Screening
Mar 19 2012 // New York Attorney General Eric Schneiderman says his office has reached a settlement with Excellus BlueCross BlueShield that requires the health insurer to process claims for routine childhood screenings for lead and...
Business Moves
Mar 19 2012 // Golden Bear Stockton, Caif.-based Golden Bear Insurance Co. has opened its first office in the Pacific Northwest. The new office is in Edmonds, Wash. It was opened by Golden Bear Vice President Carl Heckman and his team,...
W.C. Surcharge Cost Burdens N.Y. Employers
Mar 19 2012 // The assessment surcharge tacked onto workers’ comp costs for New York employers is becoming a burden for businesses, a new study says. The surcharge in New York State is 20.2 percent – more than double that of...
