Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
London’s Calling
Jul 18 2011 // Lloyd’s America President Hank Watkins Campaigns for Broader Appeal Hank Watkins, president of Lloyd’s America Inc., smiles like he has a big secret he wants to spill. The history of Lloyd’s of London is...
Top Locations for Questionable Claims
Jul 18 2011 // Five states-California, Florida, Texas, New York and Michigan-generate almost half of all suspicious claims to property/casualty insurance companies, a new report says. These states account for 49 percent of all...
Business Moves
Jul 18 2011 // The Hanover, Chaucer Massachusetts-based The Hanover Insurance Group has completed its acquisition of Chaucer Holdings, a specialty Lloyd’s insurance group. The $474 million deal includes $13 million to be paid in...
Dawson Joins Swett & Crawford in New York
Jul 15 2011 // Ricky Dawson Wholesale broker Swett & Crawford has added Ricky Dawson to its casualty staff in New York. Dawson, who has a background in both insurance wholesale brokerage and underwriting, was previously a wholesale...
New York Agents Enjoy Above Average Share of P&C Market
Jul 13 2011 // The Independent Insurance Agents and Brokers of New York (IIABNY) said agents in the state fare better than peers in other states when it comes to keeping a share of the P&C market, according to a study. IIABNY...
Fidelity National Sells Flood Insurance Business
Jul 13 2011 // Title insurer Fidelity National Financial Inc. has sold its flood insurance operations to WRM America Holdings LLC. Under the terms of the definitive agreement, WRM America of Uniondale, New York, will acquire 100 percent...
Texas Enforcements for May Include Nearly $218K in Fines, Restitution
Jul 12 2011 // Enforcement actions taken by Texas Insurance Commissioner Mike Geeslin that became final during May 2011 include six license revocations, two license denials and fines and restitution totaling $217,756. An order imposing...
California Completes Majestic Insurance Transfer to AmTrust
Jul 11 2011 // California Insurance Commissioner Dave Jones announced on July 8 the “successful implementation” of a court-approved rehabilitation plan for Majestic Insurance Co., a plan that has been opposed by New York...
Alterra Bermuda Approved for Reduced Collateral Status in New York
Jul 8 2011 // Alterra Capital Holdings Limited announced that the State of New York Insurance Department has approved Alterra Bermuda Limited “as an eligible reinsurer for reduced collateral status, which allows lower collateral...
Carr Named Operations Leader for Integro’s Atlanta Office
Jul 6 2011 // Integro, a New York-based insurance brokerage and risk management firm, has announced that Andrew Carr has been named operations leader of its Atlanta office. He succeeds Frank Kinnett, who will assume the role of chair of...
People
Jul 4 2011 // Anthony A. Ambrose has been promoted to vice president and senior broker at New York-based wholesale broker Russell Bond. Ambrose joined Russell Bond in 1994 and is currently responsible for financial institutions, medical...
New York Mets: We Didn’t Shop for Madoff Ponzi Insurance
Jul 4 2011 // Owners of the New York Mets pro baseball team rejected allegations in a $1 billion lawsuit that they once shopped for fraud insurance to insulate themselves from Ponzi schemer Bernard Madoff. Fred Wilpon and Saul Katz,...
New York City Fixes Contractor Insurance Rule
Jul 4 2011 // Insurance agents welcomed a decision that will make it easier for contractors to meet New York City’s insurance requirements. The New York City Department of Buildings has promised to modify its general liability...
New York Deregulates Large Commercial Lines
Jul 4 2011 // New York insurers and insurance agents are applauding lawmakers for giving final approval to a bill that eases regulations on commercial insurance products and rates. The bill exempts insurance policies written for large...
Web Exchange
Jul 4 2011 // IJ Video Highlights Consolidation Nation Later this year the New York State Department of Insurance will complete its merger with the state’s banking department to become the New York State Department of Financial...
MBIA May Bring Fraud Claim Against Bank of America’s Countrywide
Jul 1 2011 // MBIA Inc. may pursue a lawsuit accusing Bank of America Corp.’s Countrywide Financial unit of fraudulently misleading it about mortgage securities it insured, costing at least $1.4 billion. A New York state appeals...
New York’s Schirick Brokerage Merges with Bollinger
Jun 29 2011 // Schirick & Associates Insurance Brokers Inc. of Monticello, New York, which specializes in insuring camps, sports and recreation associations and other non-profit organizations, has merged with Bollinger Inc. Ed...
The Top States, Cities for Questionable Insurance Claims
Jun 28 2011 // Five states—California, Florida, Texas, New York and Michigan—generate almost half of all suspicious claims to property/casualty insurance companies, a new report says. These states account for 49 percent of all...
Court Revives Banks’ Suit Against Bond Insurer MBIA
Jun 28 2011 // New York’s highest court Tuesday revived a lawsuit by several large banks challenging bond insurer MBIA Inc.’s 2009 restructuring, which they complained was unfair to policyholders. MBIA shares fell as much as...
Crashes Increase at New York State’s Roundabouts
Jun 28 2011 // Drivers entering a roundabout who fear they’re about to crash are not paranoid. Although the rotaries are built to ease congestion and lessen serious injuries, data obtained by the Albany Times Union show the number...
