Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
N.Y. Bond Insurer Rescue Plan Seen as a Tough Sell but Important
Feb 1 2008 // Advisory firm Perella Weinberg Partners, hired by New York state to help find investment capital for cash-strapped bond insurers, is facing both skeptical lenders and time constraints. The situation is so dire, however,...
N.Y. Agents and Insurers Laud Workers’ Comp Loss Cost Rating Bill
Feb 1 2008 // New York State agents and insurers praised the passage late last month of a key workers compensation reform that will extend the rate-making authority of the New York Compensation Insurance Rating Board, and move the...
N.Y. Insurance Fraud Arrests Are Up
Jan 27 2008 // Investigations by New York’s insurance frauds bureau led to over 700 arrests last year, a 17 percent increase from 2006, according to an annual report from the state insurance department. The bureau, established in...
NSM Insurance Acquires N.Y.-Based Clean Street Program Manager
Jan 25 2008 // NSM Insurance Group in Conshohocken, Pa. has acquired the Pavement Maintenance Insurance Agency (PMI), program administrator for the Clean Streets Program. Scott Cerosky, president of PMI, has assumed the role of director...
New York Insurance Ad Rules Make for Longer Phone Books
Jan 24 2008 // New York agents looking to spruce up their advertisements better pay attention to the list of insurers they represent. And their insurers’ addresses. That’s because any agent or broker that lists in advertising...
N.Y. Panel Urges London-Style Financial Services Regulation
Jan 23 2008 // A commission helping redraft the regulatory framework for New York’s finance industry is considering placing greater emphasis on “principles” than on strictly defined rules, Gov. Eliot Spitzer...
New York Increasing Efforts to Attract More Muni-Bond Insurers
Jan 22 2008 // The victory scored last month when the Empire State enticed Berkshire Hathaway to begin writing municipal bond insurance in New York is part of a larger strategy to help stabilize the faltering market for that coverage,...
Kenny Named Special Counsel to N.Y. Insurance Department
Jan 16 2008 // John J. Kenny, a former deputy chief of staff at the state’s liquidation bureau and adviser to Gov. Eliot Spitzer, has been named special counsel to Superintendent of Insurance Eric R. Dinallo. In his new role, Kenny...
New York Says Insurance Fraud Arrests Are Up
Jan 16 2008 // Investigations by New York’s insurance frauds bureau led to over 700 arrests last year, a 17 percent increase from 2006, according to an annual report released today by the state insurance department. The bureau,...
FDNY Modifies Inspection Schedule to Focus on Large Sites
Jan 15 2008 // The New York Fire Department has modified its inspection schedule to focus on larger and more complex construction and demolition sites in response to a deadly blaze in a condemned skyscraper. Under the revised plan, the...
Brokers’ Commissions at Issue in New York
Jan 15 2008 // For now, at least, New York insurance brokers are not legally required to disclose to clients the commissions they earn on policies they place, according to a new legal opinion released by the state’s insurance...
OSHA: No Violations in New York Roadway Blast Mishap
Jan 14 2008 // Workplace-safety regulators have cleared a construction company in a dynamite mishap that shattered windows, sent people running for cover and flung chunks of granite as far as a half-mile into a Westchester County, N.Y....
N.Y. Insurance Agency’s Computer Hacked to Gain Forged Insurance Docs
Jan 14 2008 // Police in New York have arrested a computer consultant who is charged with fraudulently printing an insurance certificate from an agency’s computer and using the document for his part-time snowplowing...
People
Jan 13 2008 // Giant insurance broker Marsh announced changes to its global organizational structure as well as several senior management appointments. Marsh said its global insurance broking business will be consolidated into two...
N.Y. Judge Rules Evidence in Celebrex Case Unreliable
Jan 11 2008 // A New York court has ruled that plaintiffs suing Pfizer Inc. over its pain medication Celebrex do not have reliable scientific evidence to prove the drug can cause heart attacks and strokes at the 200-milligram dose, the...
Lawsuit: N.Y. Patient Mistakenly Got HIV Medication
Jan 11 2008 // A liver transplant patient has sued New York University Medical Center for $2 million, claiming the hospital’s pharmacy gave him medicine for HIV, the virus that causes AIDS, when he tried to fill a prescription for...
Oddo Rejoins N.Y. Wholesaler Russell Bond
Jan 10 2008 // Jackie Oddo has rejoined Buffalo, N.Y.-based regional wholesaler Russell Bond as a professional liability broker, handling Management Liability, Professional and Environmental coverages. Oddo has 20 years of insurance...
Allstate Pays N.Y. Homeowners $995K for Plane Vibration Damage
Jan 9 2008 // Allstate Insurance Co. has agreed to pay $995,000 to a Brooklyn couple who claimed their house was badly damaged by vibrations caused by an Air France Concorde jet nearly five years ago. The couple, John and Annette...
Safer Roundabouts Sprouting Up All Over New York, Nation
Jan 8 2008 // New York drivers are increasingly finding themselves going in circles, and it’s not because they’re lost. Following a national trend, state transportation planners are actively turning right-angle intersections...
Fire Officials Blame Clutter, Nailed-Shut Door for Elderly N.Y. Couple’s Death
Jan 4 2008 // The elderly couple’s windows were barred, and their front door was nailed shut, apparently because the two feared for their safety. Inside, their home was filled with 5-foot-tall heaps of debris. The clutter and...
