Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
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...
New York Agents Plan Court Appeal over Pay Disclosure Rules
Dec 23 2010 // Two New York agents’ groups said they have taken the first steps to appeal a decision by state court judge allowing state insurance regulators to force brokers to reveal their commissions. The Independent Insurance...
AIG to Pay States $146 Million In Workers Compensation Settlement
Dec 23 2010 // American International Group Inc. (AIG) has agreed to pay $146.5 million in fines and additional taxes to state insurance regulators for alleged under-reporting of premiums to states more than a decade ago. The company...
New York Suit Against Ernst & Young Fills Regulatory Gap
Dec 23 2010 // In choosing Ernst & Young as his target in the aftermath of the Lehman Brothers collapse, New York Attorney General Andrew Cuomo filled what looks destined to be a permanent gap in regulators’ responses to the...
Insurance Year in Review: East Edition
Dec 23 2010 // The touchy subject of agents’ commissions dominated headlines in 2010 — particularly in New York where regulators unveiled new rules that will force agents to reveal to clients how much they are paid. That...
SPECIAL REUTERS REPORT: Inside AIG’s Tortuous Turnaround
Dec 22 2010 // During a rainstorm in Washington in early 2009, amid the furor over Wall Street’s post-bailout bonuses, an American International Group employee pulled out an umbrella that had the insurer’s name on...
New York Suit Accuses Ernst & Young of Hiding Lehman Troubles
Dec 22 2010 // Accounting firm Ernst & Young was sued by New York prosecutors over allegations it helped to hide Lehman Brothers’ financial problems, in the first major government legal action stemming from the Wall Street...
New York May Sue Accountant Over Lehman Collapse
Dec 21 2010 // A possible civil fraud case against Ernst & Young LLC over its role in the collapse of Lehman Brothers could be the biggest government attack on an accounting firm since the collapse of Arthur Andersen over the Enron...
U.S. Treasury’s AIG Fix-It Man Ready for Next Assignment
Dec 21 2010 // Jim Millstein is no stranger to troubled companies. With a long career as a bankruptcy lawyer and former head of Lazard Ltd’s restructuring practice, he’s done his share of turnarounds. But nothing prepared him...
New York Says Village Endangered Workers Before Deaths
Dec 20 2010 // The state says a New York City suburb endangered two employees who suffocated in a manhole by not providing proper training or equipment. The village of Tarrytown was issued four violations of safety laws. Two were...
Federal Tax Case Leads to Workers’ Comp Fraud Charges in New York
Dec 15 2010 // A federal tax fraud case against a Bronx tax preparer touched off a workers’ comp fraud case against the woman who is now charged with wrongly collecting over $135,000 in benefits, officials said. Rosa Rivera has...
XL Makes New Appointments to Construction Practice
Dec 14 2010 // Insurer XL has made eight new appointments to its North American Construction team. Gregory P. McKiernan will serve as senior vice president of Construction Primary Casualty, based in New York. He most recently served as...
