Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
Florida Competitive in Workers’ Compensation Market Arena
Jan 24 2011 // Florida’s workers’ compensation market remains competitive with more than 250 private insurers writing coverage and only a fraction of business being funneled to the residual market. Also, availability does not...
People
Jan 24 2011 // National wholesale broker USG Insurance Services, Inc. has added Jason Holloman as a property broker specializing in large commercial and catastrophe-exposed risks. He will be based in USG’s office outside...
Auditors Successful in Defending Against Investor Lawsuits
Jan 24 2011 // Investors looking to pin blame on auditors for failing to flag risks ahead of the credit crisis are having a hard time getting their cases to stick. All of the “Big Four” auditors have been sued by investors...
Dead Woman’s Kin to Sue New York City over Blizzard Response
Jan 21 2011 // A woman who says her mother could still be alive if it weren’t for New York’s poor response to a Christmas weekend blizzard plans to sue the city. A lawyer for Laura Freeman filed a notice of claim against the...
New York Drops Last Marsh Bid-Rigging Criminal Cases
Jan 18 2011 // New York dropped the last two criminal cases tied to a 2004 bid-rigging scandal involving Marsh & McLennan Cos after failing to win convictions of any of the eight insurance executives indicted. The state attorney...
Insurers Lash Out at New York ‘Crash Tax’
Jan 14 2011 // The insurance industry will speak out against what it is calling a hidden “crash tax” in New York City during a hearing this morning with fire department officials. The proposal would allow the city to charge...
JLT Expands New York Lawyers PL Policy to Additional States
Jan 13 2011 // JLT Facilities, Inc., part of the Jardine Lloyd Thompson (JLT) Group, has expanded its New York lawyers professional liability coverage form for 1 to 25 attorneys into the following states: Ariz., Calif., Colo., Conn.,...
People
Jan 10 2011 // Pennsylvania-based wholesaler USG Insurance Services has named Jason Holloman as property broker specializing in large commercial and CAT-exposed risks. Holloman most recently served as a wholesale property broker with...
New York Agents Plan Court Appeal over Pay-Disclosure Rules
Jan 10 2011 // Two New York agents’ groups said they have taken the first steps to appeal a decision by a state court judge allowing state insurance regulators to force brokers to reveal their commissions. The Independent Insurance...
Liberty Mutual Paying $7.5M To Settle Bid-Rigging Charges
Jan 10 2011 // Boston-based insurer Liberty Mutual will pay a combined $7.5 million to New York and Connecticut to settle allegations that it steered insurance contracts by paying kickbacks large insurance brokers. In settling the suits,...
Business Moves
Jan 10 2011 // Marsh & McLennan Agency, Trion Marsh’s retail agency business has acquired Trion Group Inc., the largest privately held employee benefits specialist in the United States with $74 million in annual revenue. Terms...
Personal Crusade for Tractor Safety in Pennsylvania
Jan 10 2011 // Though it’s been nearly five years since her grandfather died, Alyssa Fodor still remembers the suffering her family experienced when he never returned home from his daily farm chores. And that’s why the...
New York Insurers Applaud Plan to Merge State’s Regulatory Arms
Jan 7 2011 // A key trade group for insurers in New York State applauded a proposal by Gov. Andrew Cuomo to merge the state’s insurance regulatory arm into a single agency overseeing insurance, banking and consumer protection. The...
Study Says No-Fault Fraud A Major Problem in New York City
Jan 6 2011 // Nearly one out of every five no-fault auto insurance claims closed in the New York City area in 2010 appears to have elements of fraud, according to a new study from the Insurance Research Council (IRC). And as many as one...
New York Plans to Merge Banking, Insurance Regulators
Jan 5 2011 // New York Governor Andrew Cuomo plans to improve regulation of Wall Street with a smaller state government that would merge the Banking and Insurance departments, Cuomo told a radio station yesterday. Cuomo, a Democrat who...
Florida Workers’ Compensation Market Remains Competitive: Report
Jan 5 2011 // Florida’s workers’ compensation market remains competitive with more than 250 private insurers writing coverage and only a fraction of business being funneled to the residual market. Also, availability does not...
Insurers To Pay New York $120M for Premium Overcharges
Jan 4 2011 // New York officials say four insurance groups have agreed to pay a total of about $120 million in excess workers’ compensation surcharges to the state. The attorney general’s office says the companies collected...
Liberty Mutual Paying $7.5M to Settle Bid-Rigging Charges
Dec 30 2010 // Boston-based insurer Liberty Mutual will pay a combined $7.5 million to New York and Connecticut to settle allegations that it steered insurance contracts by paying kickbacks large insurance brokers. In settling the suits,...
Allstate Sues More New York Medical Firms
Dec 29 2010 // Allstate has filed its seventh lawsuit this year against what it says are medical corporations committing fraud in New York State. The $1.9 million suit claims that three medical corporations in the state were owned and...
AIG, Chartis Sign $4.3 Billion Credit Agreements
Dec 28 2010 // Bailed-out insurer American International Group took another step toward winding down its U.S. government support Monday by securing $4.3 billion of bank credit lines, and company shares surged. AIG’s shares closed...
