Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
The Demotech Company Classification System Reveals State Specialist Property/Casualty Insurers
Nov 7 2011 // Company Name State of Speciality 2010 TOTAL DPW Texas Mutual Insurance Co. TX 596,191 Old American County Mutual Fire Insurance Co. TX 575,100 SAIF Corporation OR 327,373 St. Johns Insurance Co. Inc. FL 257,106 Brickstreet...
Pennsylvania Agency Owners Indicted for Fraud
Nov 4 2011 // Penn. Agency Owners Indicted Insurance agency owners from Pennsylvania were indicted this week with 13 counts of wire fraud, mail fraud and conspiracy to commit wire and mail fraud. Bruce and Irene Gardner, of Richboro,...
GAO Report Raises Questions About New York Fed in 2008 AIG Bailout
Nov 2 2011 // A new report from the U.S. Government Accounting Office chronicles the government’s handling of AIG bailout in 2008. In all, the government had invested and made loans worth more than $182 billion for the...
Treasury Receives $972M TARP Repayment from AIG
Nov 2 2011 // The U.S. Treasury Department said it received an additional repayment of $972 million from American International Group (AIG). The payment came mostly from the scheduled release of the escrow from AIG’s sale of its...
Curbside Buses Have Higher Fatal Accident Rate: Report
Nov 2 2011 // A thriving curbside bus industry based on cheap fares has a fatal accident rate seven times higher than other types of interstate bus operators, with some companies using a variety of schemes to thwart safety enforcement,...
Most of $19.9 Billion Madoff vs JPMorgan Case Tossed
Nov 2 2011 // A federal judge threw out most of a $19.9 billion lawsuit against JPMorgan Chase & Co and a $2 billion case against UBS AG by the trustee seeking money for victims of epic swindler Bernard Madoff’s fraud. The...
New York AG’s Securities Fraud Lawsuit Against Charles Schwab Tossed
Nov 1 2011 // A lawsuit against Charles Schwab Corp. over auction-rate securities that was filed by former New York Attorney General Andrew Cuomo was thrown out by a state court judge. The 2009 lawsuit accused the San Francisco-based...
3M Powerless as October Snow Surprises Northeast
Oct 31 2011 // A freak October snowstorm knocked out power Sunday to more than 3.1 million homes and businesses across the U.S. Northeast, with close to two feet (60 centimeters) of snow falling in some areas over the weekend. The storm...
Lockton Hires Marine Specialist in New York Office
Oct 28 2011 // Lockton Companies, a Kansas City, Mo.-headquartered insurance broker, appointed Joe Sheridan as a marine specialist in its New York office. Sheridan will be responsible for developing Lockton’s U.S. marine business...
Cuomo: More State Aid for Flood-damaged New York Farms
Oct 28 2011 // The Cuomo administration is distributing an additional $850,000 in aid for more than 100 New York farms impacted by flooding caused by tropical storms Irene and Lee. Gov. Andrew Cuomo on Tuesday, Oct. 25, announced that...
New York Railroad Workers Charged in $1 Billion Disability Claims Fraud
Oct 28 2011 // U.S. prosecutors charged 11 people Thursday in connection with an alleged $1 billion fraud involving hundreds of railroad workers filing false disability claims. In some cases, workers claimed they were unable to work even...
Insurance Industry Charitable Foundation to Host Benefit Dinner
Oct 27 2011 // The Insurance Industry Charitable Foundation (IICF) New York/Northeast division will hold its 2011 benefit dinner on Dec. 14. “There are so many people in need in our area, and, in spite of the economy, the insurance...
New York Team to Assess Recovery in Flooded Communities
Oct 25 2011 // As frustration has built in flood-ravaged upstate New York towns nearly two months after back-to-back tropical storms, Lt. Gov. Robert Duffy is visiting the sites to assess progress. Despite state and federal...
Lockton Hires Marsh Executive as Senior VP in New York
Oct 25 2011 // Lockton Companies, a Kansas City, Mo.-headquartered insurance broker, hired Derek Lakin as senior vice president in New York City. In his new role, Lakin will help expand the firm’s financial services insurance and...
AIG Fraud Suit Against Bank of America Won’t Be Moved to State Court
Oct 21 2011 // A federal judge rejected American International Group Inc.’s request to move its $10 billion mortgage fraud lawsuit against Bank of America Corp. back to a New York state court, where AIG believed the case...
New York-based RMI Hires Borget as Consultant
Oct 21 2011 // Risk management provider RMI Consulting appointed Christopher Borget as management liability consultant. In his role, Borget will work with RMI clients on coverage issues involving management liability and offer advice on...
New York Court Finds Driver Blinded by Sun Glare May Be Liable in Accident
Oct 20 2011 // New York’s highest court has ruled that a motorist from Syracuse who struck and killed a pedestrian while being distracted by sun glare cannot invoke “emergency doctrine.” An attentive driver would have...
Workers’ Comp Results Deteriorated for Northeastern States Last Year
Oct 20 2011 // Most states in the northeastern region reported deteriorating workers’ compensation underwriting results last year, according to latest data from A.M. Best. Pennsylvania, New Jersey, Delaware, Maine and Rhode Island...
New York-based Holborn Hires Two Executives From U.S. RE
Oct 19 2011 // Independent reinsurance broker Holborn Corp. appointed Wesley Zeliff as vice president and Shinji Ueda as assistant vice president. Both new executives will be based in the firm’s New York headquarters. Zeliff comes...
Insurance Industry Volunteer Week Underway in 7 States
Oct 19 2011 // More than 3,000 insurance employees have stepped forward to get involved in more than 500 projects around the country for Volunteer Week, the Insurance Industry Charitable Foundation’s (IICF) event being held this...
