Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
Business Moves
Jan 24 2010 // Towers Perrin, Watson Wyatt Towers Watson & Co. has completed the merger of Towers Perrin and Watson Wyatt. The transaction to form Towers Watson, a global professional services company, was announced on June 28,...
Declarations
Jan 24 2010 // Little Property Coverage “Haiti is the poorest country in the Western Hemisphere and poor countries tend to purchase very little property insurance coverage. The fact that there is very little information about...
New York Sees Promise in Own London-Like Market
Jan 24 2010 // But Skeptics Question Timing for Revival of U.S. Insurance Exchange A recently announced plan by New York’s governor to boost his state’s financial services industry by recreating the New York Insurance...
5 Issues Agents Should Watch in 2010
Jan 24 2010 // With insurance agents across the nation breathing a sigh of relief that 2009 is behind them, their focus has turned to the future: What will 2010 bring for the industry? These emergent issues are important not only for...
Execs in New York Meet over Insurance Exchange Plan
Jan 22 2010 // Key executives from over 50 companies, state agencies and industry groups met with New York Insurance Department officials yesterday to begin hashing out details for reviving the New York Insurance Exchange. The group,...
Federal Reserve Defends Dealings Over AIG Payments to Banks
Jan 20 2010 // Federal Reserve officials Tuesday launched a vigorous defense of their dealings with American International Group, calling for a congressional audit and denying any inappropriate action with respect to payments the...
House Panel Asks Paulson to Testify in AIG Probe
Jan 19 2010 // A House panel slated to look into the collapse and bailout of insurer American International Group has widened its probe, adding former Treasury Secretary Henry Paulson to its list of invited witnesses. Paulson, who was...
Geithner Denies Role in Hiding AIG Payments to Banks
Jan 15 2010 // U.S. Treasury Secretary Timothy Geithner said Thursday the bailout of insurer American International Group was not meant to help out bank counterparties and that he had no role in the decision not to disclose payments made...
Ex-AIG CEO Greenberg Sees Hope for Overhaul of Bailout
Jan 14 2010 // Former AIG CEO Maurice “Hank” Greenberg said the rising tide of questions about the government’s 2008 rescue of the insurer could be the catalyst for a dramatic overhaul of the bailout. “I believe...
Insurers Group Sues State of New York
Jan 14 2010 // A trade group for insurers in New York is suing the state, claiming lawmakers are illegally using assessments paid by insurers to fund unrelated state activities. At issue is the state’s use of the so-called...
Congressional Pressure Builds to Disclose AIG Payments to Banks
Jan 13 2010 // U.S. lawmakers moved Tuesday to force release of documents that may show whether the New York Federal Reserve pressured insurer AIG to limit discussions about payments to banks when current Treasury Secretary Geithner led...
Secret AIG Filing May Have Revealed Banks With Worst Securities Deals
Jan 13 2010 // Information about the American International Group bailout that regulators agreed to keep secret may reveal which banks held some of the worst performing mortgage-related securities at the time of the rescue. Reuters...
XL Insurance Adds to Aviation Team, Expands West
Jan 13 2010 // New York-based XL Insurance, the global insurance operations of XL Capital Ltd., has expanded its U.S. Aviation underwriting team with an aviation branch office in San Francisco and by adding to its New York-based...
SEC Order Keeps Some AIG Bailout Terms Sealed Until 2018
Jan 12 2010 // It could take until November 2018 to get the full story behind the U.S. bailout of insurance giant American International Group because of an action taken last year by the Securities and Exchange Commission. In May, the...
U.S. Senator Urges SEC to Probe N.Y. Fed Over AIG E-mails
Jan 12 2010 // U.S. regulators should investigate whether laws were violated when the New York Federal Reserve Bank urged insurer American International Group Inc. to limit discussions about payments to banks, a Republican member of the...
Construction Fatalities Drop in New York City
Jan 11 2010 // There has been an upside to the slowdown in construction activity in New York City: Fewer fatal workplace accidents. City officials reported Thursday that there were only three fatalities at New York building sites in...
Fenster Named Director of New York Workers’ Comp Board
Jan 11 2010 // Jeffrey R. Fenster has been appointed executive director of the New York Workers’ Compensation Board. Prior to joining the board, Fenster served as a litigation associate with the New York law firm of Stroock &...
People
Jan 10 2010 // New York-based insurance wholesaler Russell Bond & Co. has promoted Margaret J. Arnold to assistant vice president-controller. She is a 20-year veteran of the firm. In addition, the company has also promoted Derek...
New York Plans First Steps to Creating Lloyd’s Competitor
Jan 10 2010 // New York regulators are aggressively pursuing plans for a reincarnation of the New York Insurance Exchange and expect to finish assembling a “working group” of industry insiders within the next two months who...
New York Orders Two Insurers to Reinstate 260 Policies
Jan 10 2010 // The New York State Insurance Department has ordered insurers Homesite Insurance Co. and Security Mutual Insurance Co. to reinstate 260 homeowners’ policies across the state. Regulators say the insurers improperly...
