Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
U.S. Authorities Looking Into Murdoch Foreign Payments
Feb 7 2012 // U.S. authorities are stepping up investigations, including an FBI criminal inquiry, into possible violations by employees of Rupert Murdoch’s media empire of a U.S. law banning corrupt payments to foreign officials...
New York Fed Taps 5 Banks to Bid for AIG Bonds: WSJ
Feb 7 2012 // The Federal Reserve Bank of New York has invited five banks to bid for mortgage bonds of insurer American International Group, the Wall Street Journal reported. The five banks selected are the U.S. securities units of...
Investors Suing Bank of America Win Class-Action Status
Feb 6 2012 // Investors suing Bank of America Corp. won class-action status for their lawsuit accusing the bank of fraudulently misleading them about the 2008 takeover of Merrill Lynch & Co. and the size of Merrill’s losses...
N.Y. Attorney General Sues Banks in Foreclosure Effort
Feb 6 2012 // New York’s attorney general on Friday, Feb. 3, accused some of the nation’s largest banks of deceit and fraud in using an electronic mortgage registry that he said puts homeowners at a disadvantage in...
Chubb Sues Actress Marisa Tomei Over $129K Damage in NYC Apartment
Feb 6 2012 // Three insurance companies have sued Academy Award-winning actress Marisa Tomei in a New York court last week, seeking $128,755 in damages. Pacific Indemnity Company, Federal Insurance Company and Vigilant Insurance Company...
Court Upholds Travelers vs. Reinsurers in Asbestos Award
Feb 6 2012 // A New York appellate court affirmed last month a $420.4 million ruling in favor of insurer The Travelers Companies, handing it a victory in one of the longest-running and most complex asbestos-related litigations in...
Paying for Insurance Fraud
Feb 6 2012 // There has been a lot of auto insurance fraud news in recent months, with stories of scam artists going after big payouts from insurance companies. In New York State, such fraud is raising the auto insurance cost for many...
Allstate Doubles Q4 Profit
Feb 2 2012 // Allstate Corp. reported that its profit more than doubled in the fourth quarter thanks to lower catastrophe losses and improved homeowners business. The big insurance company posted a fourth quarter net profit of $724...
Kodak Employee Sues Company Directors Over Stock
Feb 2 2012 // An Eastman Kodak employee filed a civil lawsuit against Kodak’s board members and other fiduciaries of the photography companies’ retirement plans, saying they breached their duties as the company was spiraling...
Union Mutual of Vermont Companies Appoints VP of Underwriting
Jan 27 2012 // Union Mutual of Vermont Companies has appointed Robert Glass as the vice president of underwriting. Robert Glass Glass comes to Union Mutual with 24 years of insurance experience, most recently with The Hartford Insurance...
Ground Zero Building in New York Struggles to Find Tenants
Jan 27 2012 // Planners say an 80-story skyscraper under construction at ground zero may have to stop at seven stories unless the developer can line up more tenants. Silverstein Properties said this week that it is still looking for...
U.K.-based Broker BMS Group Opens New York Office
Jan 26 2012 // The U.K.-based broker BMS Group said it has opened an office in New York City. BMS Group CEO Carl Beardmore The firm said the Park Avenue office in Manhattan will be the base of Group CEO Carl Beardmore, who will now be...
N.J., N.Y. Have Worst Tax Climates for Business, Report Says
Jan 26 2012 // New Jersey and New York have the worst tax climates in the nation for business, according to a new report by the Tax Foundation,a Washington, D.C.-based research firm. Two other Northeastern states, Vermont and Rhode...
Court Upholds Travelers vs. Reinsurers in Big Asbestos Award
Jan 25 2012 // A New York appellate court affirmed a $420.4 million ruling in favor of insurer The Travelers Companies, handing it a victory in one of the longest-running and most complex asbestos-related litigations in history. The...
N.Y. Program Lets Uninsured Artists Exchange Art for Medical Services
Jan 24 2012 // A new program lets uninsured New York City artists exchange their art for medical services. Tony-Award winning actor Lin-Manuel Miranda and rapper and radio personality Roxanne Shante helped launch the “Lincoln Art...
Declarations
Jan 23 2012 // A Lot to Be Proud of “We have a lot to be proud of as an industry in the way we performed in 2011. We weathered the financial storm that came together both in terms of the economy and the extraordinary loss...
People
Jan 23 2012 // Woodbury, N.Y.-based Sterling & Sterling appointed Leslie Nylund as president of the insurance brokerage. Nylund will be responsible for the firm’s operations, including sales, employee benefits, client services...
N.Y. Says Worker Injured on Break Entitled to WC Benefit
Jan 23 2012 // A New York court has ruled that a worker taking a short break does not constitute an interruption of employment, thus a worker injured during such a break is entitled to workers’ comp benefits. The Appellate Division...
Virginia, New Jersey Get High Marks in Building Code Report
Jan 23 2012 // The Insurance Institute for Business & Home Safety, an industry group, issued a new report this month that analyzes residential building codes in the 18 hurricane-prone coastal states along the Gulf of Mexico and the...
Auto Insurance Claim Costs Rising Again
Jan 23 2012 // Auto insurance claim costs countrywide have recently increased, reversing previous trends of declining or relatively stable costs, a recently released study found. An Insurance Research Council (IRC) report, “Trends...
