Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
N.Y. Sen. Seward Urges Restraint in Response to Insurance Broker Scandal
May 9 2005 // New York State Senate Insurance Committee Chairman James Seward (R-Milford) told the Professional Insurance Wholesalers Association Inc. that New York policymakers should employ restraint as they look at, “what, if...
Liberty Mutual Becomes 10th Insurer to Reduce N.Y. Auto Rates
May 9 2005 // Liberty Mutual, a Boston-based insurer with more than a quarter-million New York auto policyholders, has agreed to reduce premiums by an average of three percent. Liberty Mutual’s New York customers, who are insured...
People & Places
May 9 2005 // Alex Soto The Independent Insurance Agents & Brokers of America’s national board has nominated Alex Soto as the association’s president-elect and has elected Robert Fulwider as the next vice president....
SOLON CAN’T STOMACH OBESITY SUITS:
May 9 2005 // A state legislator wants to add Pennsylvania to the list of states that protect the food industry from lawsuits in which people blame restaurants and other food vendors for making them fat. Rep. Douglas Reichley, R-Lehigh,...
Darwin Acquires Ulico Indemnity Shell
May 6 2005 // Darwin National Assurance Company has acquired 100 percent of the stock of Ulico Indemnity Company from Ulico Casualty Company, a ULLICO subsidary. The purchase price was $3 million for licenses and approximately $22...
AIA Backs N.Y. Workers’ Comp Guaranty Fund Bill
May 5 2005 // The American Insurance Association (AIA) on Wednesday praised legislation (S.5248A/A.7708), which passed the Assembly on Monday and the Senate late Tuesday, to protect the solvency of the workers’ compensation...
AXIS Posts $151.8 Million Q1 Net; Comments on Investigations
May 3 2005 // Bermuda’s AXIS Capital Holdings Limited reported net income for the quarter ended March 31, 2005 of $151.8 million, or $0.95 per diluted share, compared with $166.8 million, or $1.00 per diluted share, for the...
Allstate Drives Forward with N.Y. Auto Rate Cuts
May 2 2005 // Acting Superintendent of Insurance Howard Mills announced that Allstate Insurance Company, New York’s largest auto insurer in terms of market share, has agreed to reduce their customers’ premiums, on average,...
Fla. DOI Sets June 1 Hearing for Sirius Intl. Case
Apr 29 2005 // A June 1 hearing date has been set for a reinsurance unit of Bermuda-based White Mountains to meet with Florida regulators following allegations the unit was selling insurance in the state without a license. According to...
Pa. Lawmaker Wants Shield Against Obesity Lawsuits
Apr 26 2005 // A state legislator wants to add Pennsylvania to the list of states that protect the food industry from lawsuits in which people blame restaurants and other food vendors for making them fat. Rep. Douglas Reichley, R-Lehigh,...
Spitzer, Mills on the Prowl; New York Insurance Dept. to Audit AIG
Apr 26 2005 // New York Attorney General Eliot Spitzer and Insurance Superintendent Howard Mills on Tuesday announced that the Insurance Department would appoint a consultant to audit years of alleged improper booking of workers’...
Ohio AG Gets in on the AIG Lawsuit
Apr 21 2005 // Ohio Attorney General Jim Petro is expanding the scope of the securities fraud class action lawsuit currently pending against American International Group (“AIG”) and others by filing an amended complaint in...
AIG Restructures Its Executive Governance, Adds 2 Outside Directors to Board
Apr 21 2005 // The board of directors of American International Group Inc., which is under investigation by state and federal authorities for certain accounting and reinsurance practices, has elevated public policy concerns and added...
N.Y. Central Mutual Drops Auto Rates 5%
Apr 21 2005 // Acting Superintendent of Insurance Howard Mills announced that the New York State Insurance Department has approved a New York Central Mutual rate filing that will reduce the auto premiums paid by their policyholders by a...
IBANY Hosts TRIA Extension Meeting
Apr 19 2005 // The Insurance Brokers’ Association of the State of New York (IBANY) will host TRIA Extension: The New York Impact, a panel discussion featuring leaders on the forefront of actions to renew the Terrorism Risk...
Chair-ity Work: Antiques Appraiser’s Suspicions Pay Off for Conn. Woman
Apr 18 2005 // To the uneducated eye, the matched pair of antique chairs was hardly worth a second glance. Finished in worn gold paint, the seats re-covered in brocaded fabric, they looked like the sort of thing a grandmother...
Tougher Laws Key to Fight Against Insurance Fraud
Apr 18 2005 // How do you convince overworked state prosecutors to chase down often stale-sounding insurance swindles when their case files already are bulging with high-profile crimes such as drugs, robbery and murder? Insurance-fraud...
Aon Complaint Memos Reveal Personal Lines Arrangements
Apr 18 2005 // The recent $190 million settlement between the world’s second largest insurance broker, Aon, and officials in three states sheds light on how, as New York Attorney General Eliot Spitzer and other public officials...
Former CEO Greenberg Transferred $2 Billion in AIG Shares to Wife Just Days Before Quitting Insurer
Apr 14 2005 // Three days before he resigned as head of American International Group Inc., Maurice ‘”Hank” Greenberg gave his wife 41.4 million of his shares in the insurance company, according to a regulatory...
AIMU Hosting Marine Insurance Issues Seminar May 17
Apr 14 2005 // Discussions on hurricanes and catastrophe management, transportation security and ethics in business are among the topics to be discussed at the “Marine Insurance Issues 2005” seminar sponsored by the American...
