Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
Group: New York City Building Industry Still Slowing
Oct 27 2010 // A business group says the economic downturn is still having an effect on New York City’s construction industry — a key driver for commercial insurance spending in the region. The New York Building Congress says...
Nationwide Tops List of Least-Complained About Insurers in New York
Oct 26 2010 // Insurer Nationwide is the least-complained about personal auto insurer in New York’s $10 billion auto insurance market, according to newly released ranking of 167 companies by the state’s Insurance...
AIG CEO Benmosche Battling Cancer
Oct 26 2010 // American International Group Inc. Chief Executive Robert Benmosche appears to be taking on one of the toughest battles of his life in his inimitable scrappy style. AIG said Monday that its 66-year-old CEO had cancer and...
Ex-AIG CEO Found Liable in 1 of 2 Reinsurance Transactions
Oct 25 2010 // A New York judge held former American International Group Inc. Chief Executive Maurice “Hank” Greenberg liable for damages on a reinsurance transaction that state Attorney General Andrew Cuomo said helped the...
New York AG Sues FedEx Over Independent Contractor Classifications
Oct 25 2010 // New York Attorney General Andrew Cuomo is suing Federal Express’ ground package delivery unit, alleging its classification of drivers as independent contractors illegally deprives them of legal protections workers...
Judge Bars New York City From Hiring New Firefighters
Oct 21 2010 // A federal judge has barred New York City from hiring new firefighters after criticizing its handling of a discrimination lawsuit against the fire department. Judge Nicholas Garaufis (GEHR’-ah-fuhs) said Tuesday his...
New York to Hold Lawyers Accountable on Foreclosures
Oct 21 2010 // The chief judge of New York’s courts has implemented a new rule requiring every lawyer handling a foreclosure to sign a form verifying that all paperwork in the case is accurate. The move comes amid an uproar over...
Ex-AIG Executive Indicted in New York Horse Farm Fraud
Oct 20 2010 // A former Deutsche Bank AG and American International Group Inc. managing director and her husband have been indicted for fraud for allegedly conspiring to illegally extract money from those companies to help run their...
New York Man Sues Bumble Bee Tuna Alleging Mercury Poisoning
Oct 20 2010 // A suburban New York City man has filed a lawsuit that claims he got mercury poisoning from eating 10 cans of tuna a week. Lee Porrazzo, of White Plains, filed the suit against Bumble Bee Foods. He’s asking for...
Insurance Industry Volunteer Week Underway in Tri-State Region
Oct 20 2010 // A weeklong insurance community involvement campaign kicked off over the weekend: The Insurance Industry Charitable Foundation’s (IICF) Volunteer Week. Begun on the West Coast 13 years ago, Volunteer Week is new to...
Allstate Settles Claims Software Complaint with States for $10M
Oct 19 2010 // Allstate has agreed to pay $10 million to 45 states in a regulatory settlement involving its use of claims handling software. New York State Insurance Superintendent James J. Wrynn said the agreement follows an 18-month...
Lloyd’s McGovern Works to Expand No. American Business; Part II
Oct 18 2010 // Sean McGovern now heads Lloyd’s operations in the U.S. and Canada – the first and third largest sources of business for its underwriters. Lloyd’s not only wants to hold on to that business, but also to...
People
Oct 18 2010 // Insurance broker Marsh has added five industry veterans – four from competing broker Aon – to its private equity and mergers and acquisitions practice. James O’Brien, Jason Hawkins and Craig Warnke join...
New York Agents Group Praises Coastal Reform Plan
Oct 18 2010 // A key trade group for insurance agents in New York is lauding a proposal by regulators to reform the coastal homeowners insurance market in the state. The Independent Insurance Agents & Brokers of New York (IIABNY)...
Business Moves
Oct 18 2010 // Brown & Brown, Martin Benefits Insurance broker Brown & Brown Inc. has acquired New York-based Martin Benefits Consulting and Martin Human Resources. Terms of the deal were not disclosed. The businesses –...
Workers’ Comp Fraud Leads to Jail Time for Hatchery Owner
Oct 18 2010 // The owner of an upstate New York fish hatchery has been sentenced to 60 days in jail for worker’s comp fraud, the New York State Insurance Department said. Edward Panus, was also ordered to repay $4,500 in benefits...
Workplace Deaths Decline in New York City
Oct 18 2010 // The recession and slowdown in construction activity in New York City had a silver lining last year: A reduction in workplace deaths. The federal Bureau of Labor Statistics reported that there were 63 workplace fatalities...
People
Oct 18 2010 // The Hartford appointed Lisa Morgan senior vice president of its middle market commercial insurance business. She will lead The Hartford’s $2 billion middle market commercial insurance unit that provides the...
New York Lawsuit Claims Citigroup Used Recession to Fire Women
Oct 15 2010 // Citigroup was accused in a new lawsuit filed of using companywide layoffs during the recent financial turmoil to purge its work force of scores of female employees to save the jobs of less-qualified men. The lawsuit filed...
New York Panel Hears Homeowners Reform Proposals
Oct 15 2010 // New York insurance regulators proposed a series of tweaks to the state’s coastal homeowners insurance market this week, but it will probably be months before the state panel tasked with evaluating the proposals makes...
