Latest New York Headlines

Jul 24 2006 // People The Independent Insurance Agents & Brokers of America (Big ‘I’) has added Thomas C. Koonce as assistant vice president for federal government affairs in its Capitol Hill office. He joins two fellow...

Declarations

Jul 24 2006 // Return for credit “But we will be back.” Delaware Insurance Commissioner Matthew Denn on the state Legislature’s failure this session to pass his measure restricting the use of credit scores in insurance...

N.Y. blasts ‘anemic’ workers’ comp anti-fraud efforts

Jul 24 2006 // New York officials have denied a requested 7.5 percent hike in workers’ compensation premiums and criticized what they termed carriers’ ‘anemic’ efforts in combating fraud in doing so. The decision...

N.Y. lawmakers disappoint on property insurer; avoid workers’ comp reform

Jul 24 2006 // The New York State Legislature’s most recent session will be remembered by insurance lobbyists more for what did not get accomplished than for what did. The Republican-controlled Senate and the Democrat-led Assembly...

Lloyd’s: Stakes ‘Huge’ But Manageable If Major Hurricane Hits New York State

Jul 19 2006 // A Northeast hurricane hitting New York state could result in insured losses of $65 billion, Lloyd’s America President Wendy Baker warned today. “The stakes are huge,” Baker said in a speech to the...

Tobin Named N.Y. Deputy Counsel

Jul 18 2006 // New York Superintendent of Insurance Howard Mills has appointed Michael J. Tobin as the New York State Insurance Department’s deputy general counsel. He assumes his new post immediately and will report to Susan...

N.Y. Nixes Workers’ Comp Hike; Blasts ‘Anemic’ Anti-Fraud Efforts

Jul 18 2006 // New York officials have denied a requested 7.5 percent hike in workers compensation premiums and criticized carriers’ attitude towards combating fraud in doing so. The decision means rates will not be going up in...

N.Y. Dad Admits Helping Son with Car Insurance Scam

Jul 14 2006 // A 57-year-old man admitted pulling off an insurance scam with his son, a former college student who faces up to 157 years in prison for federal drug and weapons crimes. Gerald Thomas Sr., of Norwich, pleaded guilty this...

Park Group Announces Promotions in Bermuda, London

Jul 13 2006 // The Park Group recently announced internal appointments and changes to its management structure. According to the Group’s written statement, “these changes bring our best talent to the forefront of our...

N.Y. Speaker’s Law Firm Seeks People Injured in State Parks

Jul 12 2006 // The personal injury law firm where New York State Assembly Speaker Sheldon Silver practices is pitching its services to people injured at state parks. A section of the Weitz & Luxenberg firm’s Web site devoted...

III”s Stewart to Retire; Hartwig to Succeed

Jul 11 2006 // Gordon Stewart will retire December 31, 2006 from the Insurance Information Institute after 15 years as president of the organization. Dr. Robert P. Hartwig, senior vice president and chief economist of the I.I.I., was...

Deadly N.Y. Tour Boat Capsizing Leads to More Lawsuits

Jul 10 2006 // Last fall’s capsizing of a tour boat that killed 20 people on Lake George, N.Y., including 19 from Michigan, has led to two more lawsuits. One filed by the estate of Marjorie H. Perry, 77, Livonia, Mich., says the...

Tower Terminates PXRE Agreements

Jul 10 2006 // The New York-based Tower Group, Inc. announced that it has concluded, through commutation agreements, PXRE Reinsurance Company’s participation under various reinsurance agreements with Tower Insurance Company of New...

N.Y. Adds $25 Million in Flood Aid

Jul 10 2006 // New York State announced another $25 million in aid is being made available to residents and businesses in flood-stricken communities. That money is in addition to a $35 million aid package Gov. George Pataki announced...

N.Y. Agents Decry Failure to Make Back-Up Property Insurer Permanent

Jul 7 2006 // The New York State Legislature once again missed an opportunity to help calm a growing homeowners insurance crisis in the downstate region, according to the state’s insurance agents. With insurance companies such as...

Ill. Attorney General Sues Liberty Mutual for Alleged Bid-Rigging

Jul 7 2006 // Illinois Attorney General Lisa Madigan filed a lawsuit against Liberty Mutual Insurance Company and seven affiliates, alleging that the company and its affiliates participated in a bid-rigging and business-steering...

N.Y. Wholesaler Russell Bond Promotes Hollederer, Palmisano

Jul 6 2006 // Russell Bond & Co., Inc. announced that Gary A. Hollederer has been promoted to executive vice president. He joined Russell Bond in September 1992 after many years with leading insurers and Buffalo area retail...

Harlow Joins N.Y. Excess Lines Group

Jul 5 2006 // The Excess Line Association of New York (ELANY) has appointed Terry L. Harlow as director of education and communications, reporting to Daniel F. Maher, executive director. Harlow will undertake responsibility for...

Standard & Poor’s Annual Insurance Conference

Jul 4 2006 // Despite recent adversity and scrutiny faced by the insurance industry, financial ratings for companies appear on the upswing. “For the first time that I can remember we have a period where none of the sectors that we...

Business Moves

Jul 3 2006 // Homeowners of America Insurance Co. A new property and casualty insurer, Homeowners of America Insurance Com-pany, announced it has opened for business in Irving, Texas. Homeowners specializes in protecting residential...