Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
New York Gov.’s Budget Details Banking, Insurance Regulation Merger
Feb 24 2011 // New York Gov. Andrew Cuomo’s proposed state budget contains slightly more money for the new agency he wants to create by combining existing banking and insurance regulatory departments than they now...
ACE USA Appoints Hurley, Kubursi in New York Region
Feb 24 2011 // ACE USA, the U.S.-based retail operating division of the ACE Group, has appointed Andrew Hurley as chief operating officer of its New York region. In this new role, Hurley will assist in executing the regional business...
New York Suit Against Accountant Over Lehman Takes Detour
Feb 24 2011 // New York state regulators face their first test soon in their accounting fraud lawsuit against Ernst & Young LLP over its role as auditor for Lehman Brothers Holdings Inc. The first major government legal action...
Former New York Insurance Regulator Tapped as Special Prosecutor
Feb 23 2011 // A New York district attorney is seeking a special prosecutor to investigate possible wrongdoing at a now-closed crime lab. Nassau County District Attorney Kathleen Rice says she will ask court approval to appoint Eric...
New York Man Arrested for Insuring 18 Unlicensed Family Members
Feb 23 2011 // A Middletown man who thought he was doing favors for unlicensed family members and friends by registering and insuring their cars was arrested for falsifying business records, the New York State Insurance Department...
Allstate Sues Citi, Deutsche Bank Over Mortgage Securities
Feb 22 2011 // Allstate Corp. sued Citigroup Inc. and Deutsche Bank AG, accusing the banks of causing losses by hiding the risks on more than $385 million of mortgage securities it bought. Allstate, the largest publicly traded U.S. home...
Workers’ Compensation History: The Great Tradeoff!
Feb 21 2011 // Pirates of the 18th century and a 19th century German “Iron” Chancellor preceded the United States in the creation of a social system for the protection of injured workers. The modern U.S. workers’...
Figures
Feb 21 2011 // 48 Number of new captives insurers formed in Delaware last year, doubling the state’s total to 96 captives, according to state regulators. Steve Kinion, director of the state’s Captive Bureau, said the growth...
New York Lawmakers Propose Easing Some Insurance Regulations
Feb 21 2011 // The New York Senate Committee on Insurance has begun hearing on legislation that would extend insurance agents’ license renewals, allow multiple rating plans for personal lines insurers and clarify laws about...
Business Moves
Feb 21 2011 // Glens Falls, Upstate Agency New York-based Glens Falls National Bank and Trust has acquired Upstate Agency Inc., a property and casualty insurance agency with eight offices in New York. Terms of the transaction were not...
Industry Has Big Legislative Goals for 2011
Feb 21 2011 // Just as state lawmakers forge ahead with new legislative goals for 2011, the insurance industry, agents and their lobbyists are doing the same across much of the Northeast. Some states have already seen and continue to see...
Nine New York Families Sue Gas Driller, Say Wells Tainted
Feb 17 2011 // Nine New York homeowners have filed a lawsuit against a Denver-based natural gas driller and its subcontractors, claiming the companies contaminated drinking water with gas and silt. The lawsuit, filed Friday in state...
Allstate Sues JPMorgan Over Mortgage Securities Losses
Feb 17 2011 // Allstate Corp. sued JPMorgan Chase & Co. on Wednesday to recover losses after the bank allegedly misrepresented the risks on more than $757 million of mortgage securities the insurer bought. The lawsuit against the...
Whistleblower Alleges JPMorgan Ignored Red Flags on Fraud
Feb 16 2011 // A former JPMorgan Chase & Co. private banker has filed a new whistleblower complaint against the bank, saying it ignored many red flags about a suspicious client even after the fraud of another client, Bernard Madoff,...
New York Drivers Will Get Points for Talking on Cell Phones
Feb 15 2011 // Beginning tomorrow, New York drivers who are caught talking on their cell phones without a headset will gain two points on their driving records — which means higher insurance costs. The New York Department of Motor...
New York Lawmakers Consider Extending Agents’ Licenses, Other Issues
Feb 14 2011 // The New York Senate Committee on Insurance is scheduled to hear bills this afternoon that would extend insurance agents’ license renewals, allow multiple rating plans for personal lines insurers and clarify laws...
Report: ‘Spider-Man’ Caught in New York Labor Dept Web
Feb 14 2011 // The New York State Department of Labor has issued two safety violations against the Broadway musical ‘Spider-Man: Turn off the Dark,” the stunt-heavy show that has been plagued by injuries to cast members, a...
New York Agents Happier with Insurers This Year, Survey Says
Feb 11 2011 // A new survey by a trade group for New York agents finds insurance producers give their carriers good marks for honesty and fair treatment — but find insurance companies don’t pay them enough. The Independent...
PIA Names Koetzle as Vice President
Feb 11 2011 // PIA Management Services named Christopher Koetzle to the newly created position of vice president for the umbrella corporation that manages Professional Insurance Agents associations in New York, New Jersey, Connecticut...
People
Feb 10 2011 // Cincinnati, Ohio-based Great American Insurance Group’s Property and Inland Marine Division has promoted two insurance executives: Grace Thomas and Cecil Wilson. Thomas was promoted to divisional senior vice...
