Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
MBIA Reportedly Ready to Settle with UBS Over Restructuring
Mar 16 2012 // UBS AG has agreed to settle litigation against MBIA Inc. that challenged the bond insurer’s 2009 restructuring, people familiar with the matter said on Thursday. The UBS settlement calls for credit-default swaps to...
RIMS Commends N.Y. Broker Compensation Disclosure Ruling
Mar 15 2012 // The Risk & Insurance Management Society is applauding the New York appeals court for upholding the broker disclosure rule. “Consumers deserve the same transparency and information from their insurance brokers...
N.Y. Court Enforces Flood Insurance Policy’s Proof-of-Loss Requirement
Mar 15 2012 // A New York appeals court recently affirmed a lower court’s ruling that a homeowner was not entitled to coverage under the policy from the National Flood Insurance Program because he failed to follow the proof-of-loss...
N.Y. Unveils Plan to Shut Down Fraud Docs, Medical Mills
Mar 14 2012 // Dishonest doctors and medical mills in New York better watch out! Following highly publicized crackdowns of major auto insurance fraud rings in the state, Gov. Andrew Cuomo unveiled a statewide initiative this month to...
N.Y.-based Sterling & Sterling Appoints Senior VP
Mar 13 2012 // Sterling & Sterling appointed industry veteran Betsy Good to the newly created position of senior vice president, director of strategy. Betsy Good In her new role, she will be responsible for identifying and...
16 Arrested in Brooklyn, N.Y., for Allegedly Staging Auto Accidents
Mar 9 2012 // Sixteen people in Brooklyn, N.Y., have been arrested for their roles in allegedly staging auto accidents to fraudulently receive insurance payouts. New York State Attorney General Eric Schneiderman announced the arrests on...
N.Y. Report Identifies Region’s Most Dangerous Roads for Pedestrians
Mar 9 2012 // The Tri-State Transportation Campaign, a policy watchdog group based in New York, released its annual report listing the region’s most dangerous roads for pedestrians. The report analyzed federal data from 2008 to...
Insurance Company Asks: Do Powell Siblings Get Money?
Mar 9 2012 // A life insurance company has asked a judge to decide whether any of Josh Powell’s relatives are entitled to collect on a $1.5 million policy after he killed himself and his two sons in a Washington house fire last...
N.Y. Financial Services Staff Visit Neighborhoods Hit by Foreclosures
Mar 7 2012 // Mortgage foreclosure prevention specialists from New York State Department of Financial Services will visit a New York City neighborhood that has been hard-hit by a spate of home foreclosures. The prevention specialists...
FAA Seeks Fines Against Colgan Air Over New York Crash
Mar 6 2012 // Colgan Air failed to provide adequate rest breaks for crews on some flights within seven months of a 2009 crash near Buffalo, New York, that killed 50 people and raised questions about tired pilots, regulators said on...
N.Y. Workers’ Comp Board Moving to Electronic Claims Reporting
Mar 5 2012 // The New York State Workers’ Compensation Board is transitioning from a paper to an electronic employer report of injury system. The board will adopt the IAIABC (International Association of Industrial Accident Boards...
N.Y.-based Preferred Concepts Names VP to Lead Online Business Unit
Mar 5 2012 // Preferred Concepts LLC, a national insurance program administrator and specialty broker, appointed Georgeanna Munger as vice president to manage the company’s ezumbrella.com business unit. Georgeanna Munger Munger...
New York’s Cardinal Urges ‘Freedom of Religion Battle’
Mar 5 2012 // New York’s Cardinal Timothy Dolan is calling on worshippers to become more involved in politics as the church stands against the government in what he says is a “freedom of religion battle.” Dolan spoke...
Three Mull Lawsuits in U.S. Against Murdoch’s News Corp.
Mar 5 2012 // Three people who believe they were targeted by a private investigator working for Rupert Murdoch’s News of the World while they were in the United States are considering suing his company in U.S. courts, a source...
Business Moves
Mar 5 2012 // OneBeacon, Interboro OneBeacon Insurance Group completed the sale of its AutoOne business to Interboro Holdings of New York. The transaction, which was announced on Aug. 31, 2011, included AutoOne Insurance Co. and AutoOne...
N.Y. Launches Audit of Rising Health Insurance Rates
Mar 5 2012 // The New York State Department of Financial Services said it has launched a wide-ranging probe of the accuracy of the data used by insurers and health maintenance organizations (HMOs) to request health insurance rate...
Workers’ Comp Surcharge Cost Burden to N.Y. Employers: Study
Mar 1 2012 // The assessment surcharge added to workers’ compensation costs for New York employers is increasingly becoming a burden for businesses, according to a new study. In New York State, the assessment surcharge is...
N.Y. Cardinal to Give Speech on Contraceptive Coverage Debate
Mar 1 2012 // Cardinal Timothy Dolan is planning a speech on the recent controversy involving contraceptive coverage in health insurance plans. The spiritual leader of the Archdiocese of New York plans to address the issue this coming...
N.Y. Prosecutors Say Fraud Scheme Was Largest of Its Kind in History
Mar 1 2012 // Authorities are describing the takedown of a massive auto insurance fraud ring in New York the largest of its kind involving New York’s no-fault law. The fraud scheme involved 10 licensed medical doctors, three...
Dozens Charged in Massive Insurance Fraud Scheme in New York
Feb 29 2012 // Federal and local authorities in New York unveiled charges today against 36 defendants — including 10 doctors and three attorneys — allegedly involved in a systematic scheme to defraud auto insurance companies...
