Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
Business Moves
Jul 19 2010 // First Mercury, Valiant Michigan-based First Mercury Insurance Co. is acquiring New York-based Valiant Insurance Group Inc. in a transaction valued at approximately $55 million. The transaction is expected to close in the...
Business Moves
Jul 19 2010 // NetComp NetComp Insurance, a newly-formed program manager based in Columbia, S.C., has opened its online program (www.netcompinsurance.com) for small to-mid size workers’ compensation business to all independent...
Country Sees Growing Power of Hispanic Agents and Customers
Jul 19 2010 // Latin Agents Group Launches in New York The growth of the country’s Hispanic population is a hot topic among demographers and marketers – including insurance producers and brokers. As of 2008, the last year for...
Ex-Marsh Executives’ Bid-Rigging Convictions Tossed on New Evidence
Jul 19 2010 // A New York judge has thrown out the convictions of two former Marsh & McLennan Cos. executives for their roles in an insurance bid-rigging scheme that led to an $850 million settlement with the state. The defendants...
New York Weighs Easing Excess Lines Rules
Jul 19 2010 // New York Superintendent of Insurance James J. Wrynn said his agency will hold a public hearing next month to explore the possibility of increasing insurance capacity in New York by easing access to non-standard market...
NYMAGIC’s Ratings ‘Unchanged’ Says Best by ProSight Acquisition
Jul 16 2010 // A.M. Best Co. has commented that the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of New York Marine Group and its members and the ICR of...
Virginia Start-Up Hilb Group Acquires North Carolina, New York Agencies
Jul 14 2010 // The Hilb Group, a Virginia insurance brokerage launched in 2009 by the founder of what became one of the world’s largest brokerages along with his son, has added its first two partners as it begins building a...
Citigroup Loses Bid to Have Suit Over ‘Toxic’ Mortgages Dismissed
Jul 13 2010 // A Manhattan federal judge Monday rejected Citigroup Inc.’s bid to dismiss a class-action lawsuit by bondholders who said the bank misled them about its exposure to “toxic” mortgages. U.S. District Judge...
New York to Weigh Expanding Excess Lines Insurance List
Jul 8 2010 // New York Superintendent of Insurance James J. Wrynn said his agency will hold a public hearing on August 20 to explore the possibility of increasing insurance capacity in New York by easing access to unauthorized...
ACE Group Appoints Six New Global Client Executives
Jul 8 2010 // The ACE Group of insurance and reinsurance companies has announced the appointment of six additional global client executives in four countries: Jeff Carr and Shaun Edwards in London, Olivier Roussel in Paris, Wolfgang...
Latin Insurance Agent Groups Growing, Going Mainstream
Jul 7 2010 // A group of New York insurance agents has launched a new trade group for Latin insurance producers as well as brokers who serve the Hispanic community in the Northeast. LABA is not the first group geared toward insurance...
10 New York Students Among 58 InVEST Scholarship Winners
Jul 7 2010 // InVEST, the insurance industry’s career education program, has awarded $56,500 in scholarships to 58 college-bound students pursuing insurance-related degrees, including 10 students from New York. Patrick Moore,...
New York Workers’ Compensation Fund Premium, Accounts Down
Jul 7 2010 // For 2009, the New York State Insurance Fund reported workers’ compensation premium of $1.31 billion and disability benefits premium of $16.6 million. The competitive fund wrote 41 percent of the state’s...
Ex-Marsh Executives’ Bid-Rigging Convictions Tossed on New Evidence
Jul 7 2010 // A New York judge has thrown out the convictions of two former Marsh & McLennan Cos. executives for their roles in an insurance bid-rigging scheme that led to an $850 million settlement with the state. The defendants...
New York Approves Medical Malpractice Insurance Rate Hike
Jul 7 2010 // The average medical malpractice insurance rate increase for New York doctors this year will be five percent. The increase, which took effect July 1, follows two years of rates freezes. New York State Insurance...
Brown & Brown Acquires Meridian Group of New York
Jul 6 2010 // Florida-based insurance agency Brown & Brown has acquired Meridian Group of New York, Inc. Meridian Group, with annual revenues of approximately $1.3 million, provides life, health, and other employee benefits products...
It Figures
Jul 5 2010 // $3 Million Settlement reached between City of Boston the parents of a Boston Celtics fan who stopped breathing and later died after police took him into custody during the 2008 NBA championship celebrations. David Woodman,...
People
Jul 5 2010 // The Excess Line Association of New York has appointed Jasmin Chen Johnson as financial director. She will be responsible for conducting financial analysis, review and monitoring of all New York-eligible excess line...
Brinkman to Chair New York IICF
Jul 1 2010 // The Insurance Industry Charitable Foundation (IICF) has elected David Brinkman chair of its New York Division board of directors. Brinkman, a 26-year industry veteran, is executive managing director of Aon Benfield where...
New York Looking to Clamp Down on Self-Insured Trusts
Jun 30 2010 // New York Gov. David Paterson wants to rein in the use of self-insured trusts in the Empire State, following the recommendation of task force formed in the wake of several high-profile trust collapses over the last several...
