Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
N.Y. Insurance Chief Would Vet Greenberg Bid for AIG Units
Oct 1 2008 // New York Insurance Superintendent Eric Dinallo, charged with overseeing any sales of American International Group Inc.’s insurance units, said Wednesday he would consider bids from former AIG CEO Maurice...
New York Signs Regulatory Pact with Bermuda
Sep 30 2008 // Insurance regulators in New York and Bermuda have signed an agreement that calls for closer cooperation between the two agencies in overseeing insurance matters. New York State Insurance Superintendent Eric Dinallo and...
New York Liquidation Bureau Closes Receivership of American Eagle
Sep 30 2008 // The New York Liquidation Bureau said it has completed all necessary steps to bring to a close the ancillary receivership in New York of American Eagle Insurance Company, a Texas-based property/casualty firm declared...
Equity Risk Partners Opens New York Office; Expands Nationwide
Sep 30 2008 // Equity Risk Partners, Inc. (ERP), the only full service insurance brokerage and consulting firm focused exclusively on the private equity industry, has opened the doors to its new Manhattan office in conjunction with a...
New York Young Insurance Professionals Elects Officers
Sep 29 2008 // The New York Young Insurance Professionals, an affiliate of the Professional Insurance Agents of New York trade group, elected new officers at its annual business meeting earlier this month. Those new officers are: —...
New York Insurance Regulator to Oversee AIG Asset Sales
Sep 26 2008 // New York State Insurance Superintendent Eric Dinallo, who heads a national panel of state regulators overseeing possible sales of assets by American International Group (AIG), has asked an investment advisory firm to help...
Zurich Makes Group Risk Management Appointments in Europe, U.S.
Sep 25 2008 // Zurich Financial Services has announced the following appointments within its Risk Management Group. Adrian Zweig (50, Swiss citizen), currently Head of Strategic Asset Allocation and Asset and Liability Management (ALM),...
Retried New York Lawmaker Gets $140K Insurance Post
Sep 24 2008 // A former assemblyman from Queens has been hired to a newly created $140,000-a-year state job — in spite of the governor’s own orders putting a freeze on hiring. The Daily News reports that retired Assemblyman...
New York Insurance Chief Urges Caution on AIG Policy Switching
Sep 23 2008 // AIG’s insurance companies are financially sound, with substantially more in assets than they need to pay all valid present and projected claims, New York Insurance Superintendent Eric Dinallo said. Dinallo also...
New York to Begin Regulating Part of Credit Default Swap Market
Sep 23 2008 // New York Governor David A. Paterson said that New York State will, beginning in January, regulate part of the credit default swap market which has to date been unregulated and has been a major contributor to the emerging...
AIG Signs Definitive Agreement with Fed of New York for $85B Credit Facility
Sep 23 2008 // American International Group Inc. (AIG) announced that it has signed a definitive agreement with the Federal Reserve Bank of New York for a two-year, $85 billion revolving credit facility. Interest will accrue at a rate...
U.S. Bailout Faces Delays as Goldman Gets $5B Boost from Buffet
Sep 23 2008 // Architects of a $700 billion bailout plan urged U.S. lawmakers to act swiftly or face dire economic consequences as global stock markets fell for a second day on growing concern the rescue may be delayed. But financial...
New York Workers’ Comp Rates Going
Sep 22 2008 // Premiums for workers’ compensation insurance in New York will drop 5 percent in 2009, marking the second straight annual decline since landmark reform legislation was passed in 2007. The drop in rates follows a 20.5...
Business Moves
Sep 22 2008 // CRC Insurance, Southern Risk CRC Insurance Services Inc., the wholesale insurance unit of BB&T Corp., completed its purchase of Southern Risk Operations LLC. Sumter, S.C.-based Southern Risk is an excess and surplus...
People
Sep 22 2008 // The Chubb Corp has named Richard G. Spiro executive vice president and chief financial officer, effective Oct. 1. Spiro, 44, succeeds the retiring Michael O’Reilly, who will remain at company until the end of 2008 to...
Some See Spitzer Role in AIG Crisis
Sep 19 2008 // Lost by many in the week’s financial markets’ nightmare were ghosts of Wall Street past. Some in business and politics are blaming the need for Tuesday’s historic federal bailout for American...
Fitch On AIG Rating Watch Revision
Sep 18 2008 // On Sept. 17, Fitch Ratings revised its Rating Watch on American International Group Inc. (AIG) and its subsidiaries to Evolving from Negative following the announcement that its board has approved a transaction under which...
N.Y. Gov Paterson Praises Insurance Chief Dinallo on AIG Rescue
Sep 18 2008 // New York officials helped giant insurer American International Group Inc. strike a historic loan deal with the Federal Reserve on Tuesday night to keep AIG afloat and avoid another fiscal crisis for the state. Gov. David...
OSHA Cites Contractors in Deadly New York Crane Collapse
Sep 17 2008 // A federal agency hit three construction firms with penalties totaling $313,500 on Monday for safety violations that led to a tower crane collapse that killed seven people in March. The citations by the Occupational Safety...
Greenberg’s C.V. Starr May Try to Take Over Struggling AIG
Sep 16 2008 // A company led by Hank Greenberg, a former chief executive of American International Group, may try to take over the insurer in a proxy fight or tender offer, according to a regulatory filing. Greenberg’s company,...
