Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
New York Republicans Demand Probe into AIG Campaign Donation
Mar 23 2009 // New York’s Republican Party says the Democrat-controlled state government is ignoring calls for an investigation into a $100,000 donation to the state Democratic Party from American International Group days before...
Yanking AIG Bonuses to Cost N.Y. City $3 Million in Taxes
Mar 20 2009 // New York City could lose $3 million in tax revenues if insurer American International Group’s workers are forced to hand back their bonuses, the city comptroller said on Thursday. Wall Street is the taproot of New...
73 AIG Employees Got $1 Million Bonuses, Says New York AG Cuomo
Mar 18 2009 // American International Group Inc., which has received $180 billion in taxpayer money to stay in business, created 73 millionaires with bonuses of $1 million or more in 2008, New York’s top legal officer said on...
Report: New York Fraud Investigations Yielded 755 Arrests Last Year
Mar 17 2009 // Investigations by The New York State Insurance Department Frauds Bureau led to 755 arrests in 2008 — a slight increase over 2007 and and the highest arrest total since 2004, the department said. “Arrests for...
New York City Spent $568 Million on Malpractice, Property, Other Claims
Mar 13 2009 // New York City spent almost $568 million to settle damage claims, and the biggest awards were attributed to city-owned hospitals and the police and transportation departments, the comptroller said Thursday. The latest...
London Summit Set to Include Climate Change Talks
Mar 12 2009 // A summit meeting on the financial crisis in London next month will tackle the issue of climate change, which the U.N. chief had planned to make the focus of a separate gathering in New York, diplomats said. Worried that...
AIG Bailout Good For Goldman Sachs, Other Banks But Not For Investors
Mar 11 2009 // The $173 billion government rescue of American International Group Inc. is stoking resentment among investors who see it as a backdoor taxpayer bailout of Goldman Sachs Group Inc. and other banks. Six months after the...
Who Got AIG Bailout Funds? Partial List of Firms Published
Mar 9 2009 // Where, oh where, did AIG’s bailout billions go? That question may reverberate even louder through the halls of government in the week ahead now that a partial list of beneficiaries has been published. The Wall Street...
New York City, Port Authority Agree on Crane Safety Measures
Mar 9 2009 // New York City and the Port Authority of New York and New Jersey have reached an agreement to improve crane safety in the wake of deadly accidents last year. Both agencies said last Friday that any crane or derrick on Port...
People
Mar 9 2009 // San Francisco-based Wells Fargo & Co. announced its management team for the combined insurance businesses of Wells Fargo and Wachovia Corp. Reporting to Dave Zuercher, group head of International and Insurance...
New York Regulator Says AIG Securities Lending Losses Manageable
Mar 5 2009 // The securities lending unit of American International Group Inc. was being successfully wound down and had manageable losses if not for the firm’s massive credit default swap exposure, New York Insurance...
New York Insurance Chief Dinallo’s U.S. Senate Testimony on AIG
Mar 5 2009 // Testimony by New York Insurance Superintendent Eric Dinallo to the United States Senate Committee on Banking, Housing and Urban Affairs Hearing on “American International Group: Examining What Went Wrong, Government...
New York Tries First-Ever Sale of Failed Insurer to Private Investors
Mar 4 2009 // New York state will try to sell Midland Insurance, which is being liquidated with almost $1 billion of assets and $2.9 billion of liabilities, in the first-ever sale to private investors, the state insurance chief said...
Kin of Wal-Mart Stampede Victim to Sue New York County
Feb 24 2009 // Relatives of a worker trampled to death in a crush of post-Thanksgiving bargain-hunters at a New York Wal-Mart have filed court papers indicating they intend to sue Nassau County and its police department. A notice of...
New York Regulator ‘Reminds’ Insurers about Accounting Requirements
Feb 23 2009 // New York Insurance Department Superintendent Eric Dinallo issued a reminder last week that insurance companies must file annual financial reports or supplements that comply with the accounting requirements prescribed by...
People
Feb 22 2009 // Andrew Fotopulos has joined Starkweather & Shepley Insurance Brokerage Inc. in Providence, Rhode Island as senior vice president. Fotopulos will lead the brokerage’s financial institutional practice. He will...
New York Proposes Compensation Disclosure Rules for Agents
Feb 22 2009 // Despite earning praise from major insurance brokerages, a proposed new regimen of compensation disclosure rules for insurance producers has New York agents on edge. The draft regulations issued earlier this month include...
It Figures
Feb 22 2009 // $210 Million Amount sought by a Baltimore man who alleges in a lawsuit that rogue police officers violated his civil rights in a public strip search. Thirty-five-year-old Navy veteran Daryl Martin is suing the city Police...
New York State Insurance Fund: Anti-Fraud Efforts Saved $20.7M
Feb 19 2009 // New York State insurance Fund (NYSIF) Executive Director David P. Wehner said the NYSIF’s 2008 fraud prevention program accounted for more than $20 million in total savings — a record amount exceeding all prior...
Police: New York Man with Anti-DWI Device in DWI Crash
Feb 18 2009 // Police say a Long Island man whose car was outfitted with an anti-drunken-driving device rented another car and crashed it while intoxicated. Police say 27-year-old Marvin Rice, Junior, of Shirley, lost control of a rental...
