Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
Sens. Schumer, Clinton Blast Treasury Report; Call for TRIA Renewal
Jul 5 2005 // New York Senators Charles E. Schumer, D, and Sen. Hillary Rodham Clinton, D, have blasted the Treasury Department’s report, submitted to the Senate Banking Committee, which urged Congress not to renew the Terrorism...
Standard & Poor’s Annual Insurance Conference
Jul 4 2005 // Top Corporate Executives Stress Moving Beyond Spitzer 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...
People & Places
Jul 4 2005 // Thomas L. Welch The Independent Insurance Agents of Virginia approved its 2005-2006 slate of officers at the group’s annual convention last month at the Landsdowne Resort in Leesburg, Va. Michele DeForest Thomas L....
Commerce Bancorp Buys Conn.’s BK International Insurance Brokers
Jul 1 2005 // Commerce Insurance Services, a wholly-owned subsidiary of Commerce Bancorp, Inc., has entered into an agreement to acquire BK International Insurance Brokers, Ltd., headquartered in Greenwich, Connecticut. The acquisition...
Risi Named Deputy in N.Y. Insurance Department
Jun 30 2005 // New York State Insurance Superintendent Howard Mills has named Joseph Risi as Deputy Superintendent of Insurance effective immediately. Mills said Risi will coordinate various department management initiatives and work...
N.Y. Auto Ring Parked; 12 Indicted in Orange County
Jun 29 2005 // New York Attorney General Eliot Spitzer and State Superintendent of Police Wayne Bennett recently announced the indictment of 12 individuals involved in reported auto theft and insurance fraud in Orange County. The arrests...
N.Y. Lawmakers Float Bill to Raise Minimum Age for Boating to 14
Jun 28 2005 // Children under 14 would have to stick to swimming or water-skiing under a bill gaining support in the New York Legislature that would restrict the use of personal watercraft. The measure, sponsored by Assemblywoman...
N.Y. Trial Bar, Auto Insurers Agree on Court Changes to Expedite Claims
Jun 27 2005 // With encouragement from insurers led by Progressive Insurance Co. and the state’s trial lawyers, New York lawmakers last week passed a bill that should both cut down on questionable small claims lawsuits and speed up...
N.Y. Auto Premium Cuts Continue
Jun 27 2005 // New York officials announced that American International Group, Chubb, and General Motors Acceptance Corporation have joined the list of insurers reducing their auto insurance premiums for new and existing customers. The...
N.Y. Court Upholds Empire Blues Conversion to Profit Corporation
Jun 21 2005 // New York’s highest court has dismissed an attempt to block the plan to convert Empire Blue Cross and Blue Shield into a for-profit company. The planned conversion is projected to provide the state with as much as $4...
News Briefs
Jun 20 2005 // MASSACHUSETTS CAR NAMES COMMERCIAL CARRIERS: Commonwealth Auto Reinsurers has advanced its new commercial auto limited servicing carrier program by selecting the six carriers that will service this residual market business...
N.Y. Soldier Charged with Killing Officers Previously Accused in Fire
Jun 19 2005 // The New York soldier accused of killing two superior officers and making it look like an enemy attack was accused by an insurer of masking the cause of a fire that destroyed his home. The allegation is included in court...
Allstate dropping most earthquake coverage nationwide
Jun 19 2005 // Allstate Insurance Co. says it is dropping earthquake insurance to most of its 407,000 quake customers nationwide as a part of a larger move to reduce exposure to catastrophic losses. Allstate Spokesman Mike Siemienas in...
N.Y. Reschedules Workers’ Comp Rate Hearing to June 27
Jun 16 2005 // The New York State Insurance Department has rescheduled a public hearing to consider the application of the New York Compensation Insurance Rating Board (NYCIRB) for a workers’ compensation insurance increase of 16.1...
Industry Economist Hartwig Named to N.Y. Big ‘I’ Agent Group Board
Jun 14 2005 // Robert Hartwig, vice president and chief economist of Manhattan-based Insurance Information Institute, was recently appointed to a one-year term as an at-large director of the Independent Insurance Agents & Brokers of...
States Close In on Finite Reinsurance Disclosure; N.Y. Agrees to Adopt Model
Jun 13 2005 // State insurance regulators moved closer to final adoption of a model finite reinsurance disclosure regulation at the summer meeting of the National Association of Insurance Commissioners in Boston this weekend. As they...
15 Firms Charged With Directed Brokerage Violations, Fined $34 Million
Jun 8 2005 // The National Association of Securities Dealers confirmed that it has imposed fines totaling more than $34 million on 15 broker-dealers in connection with the receipt of directed brokerage in exchange for preferential...
Friedlander’s N.Y. United Restaurants’ Safety Group Pays 40% Dividend
Jun 7 2005 // The Friedlander Group Inc., the group manager for United Restaurants of New York Workers’ Compensation Safety Group #556, underwritten by the N.Y. State Insurance Fund, paid a 40 percent dividend to approximately 740...
Undercover on Underwriting: Spitzer Spills AIG’s Secrets in Civil Complaint
Jun 6 2005 // AG Targets Ex-Execs Greenberg and Smith; AIG Restates Financials; Is Settlement Next? From the 1980s until recently, insurance giant American International Group and its top executives “routinely engaged in...
SENATE CONFIRMS MILLS:
Jun 6 2005 // The New York State Senate confirmed Governor George E. Pataki’s nominee, Howard Mills, as Superintendent of the New York State Insurance Department. Mills has been serving as acting superintendent since January 2005....
