Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
Spitzer’s Complaint Outlines Aon’s Personal Lines Deals with Insurers
Mar 21 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...
Agents Beware: Due Diligence is Now Required on Brokers
Mar 21 2005 // Transactions between retail agents and brokers they place business through just became more labor intensive. I recently testified as an expert in a federal case involving a reputable agency’s failure to conduct...
Main Street Matters
Mar 21 2005 // New York is one of the worst; New Jersey is also poor; Virginia remains among the best; Massachusetts and Maryland are looking better and better; Connecticut is holding steady, while Pennsylvania has some catching up to...
FERRY CRASH PROBE FAULTS CITY:
Mar 21 2005 // A federal safety board sharply criticized New York City and the Coast Guard in the 2003 Staten Island Ferry crash that killed 11 passengers, saying tougher medical screening of ferry captains and safer operating procedures...
N.Y. BILL IMPOSES FIDUCIARY DUTY:
Mar 21 2005 // Assemblyman Ryan Scott Karben (D/I-Rockland), a majority member of the New York State Assembly’s Insurance Committee, has introduced a legislative package on agent and broker compensation that would require...
Aon Complaint Memos Reveal Personal Lines Arrangements
Mar 21 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...
Agents Beware: Due Diligence is Now Required
Mar 21 2005 // Transactions between retail agents and brokers they place business through just became more labor intensive. I recently testified as an expert in a federal case involving a reputable agency’s failure to conduct...
M&A Services Expands to N.Y. City
Mar 18 2005 // Merger & Acquisition Services Inc., a financial intermediary and advisor to the insurance marketplace, is opening of a New York City office. Merger & Acquisition Services Inc., (http://www.merger-acquisition.net)...
M&T Bank Renames Insurance Agency
Mar 18 2005 // M&T Bank out of Buffalo, N.Y. has changed the name of its commercial property and casualty insurance agency from Matthews, Bartlett & Dedecker, Inc. to M&T Insurance Agency, Inc. The bank said the change has...
Ace Reportedly Hit with 43 Subpoenas
Mar 16 2005 // According to a Reuters report, Ace Ltd. said on Wednesday it has received 43 subpoenas, interrogatories, civil investigative demands and letters of inquiry in relation to the investigations of insurance industry...
N.Y. Auto Industry Restarts Stalled Drive to Reform Vicarious Leasing Liability Law
Mar 14 2005 // Auto leasing interests in New York are renewing their battle against the state’s vicarious liability law that they say has demolished the car leasing industry in the state. The United Auto Workers (UAW), the New York...
Four More Banks Settle Worldcom Claims
Mar 11 2005 // Four investment banks this week agreed to pay a total of $428.4 million to settle claims stemming from a class-action lawsuit brought by former shareholders of WorldCom Inc. New York state Comptroller Alan Hevesi said in a...
N.Y. Counties Receive Insurance Anti-Fraud Funds
Mar 10 2005 // New York Governor George E. Pataki has announced the recipients of $5.3 million in grants for programs to combat motor vehicle theft and insurance fraud in communities across the state. “These grants will help give...
HIP of N.Y. Completes ConnectiCare Buyout
Mar 10 2005 // HIP Health Plan of New York hs completed its acquisition of ConnectiCare Holding Company, Inc. HIP received regulatory approval for the acquisition from Massachusetts and previously from Connecticut and New York. The...
Ferrara Nominated to N.Y. Workers Comp Board
Mar 7 2005 // New York Governor George E. Pataki has nominated Nassau County Assemblywoman Donna Ferrara (R,C-Westbury) to serve as a Commissioner of the New York State Workers Compensation Board. Ferrara’s nomination is subject...
WSJ Report: Officials Probing AIG CEO Greenberg’s Role in Reinsurance Products
Mar 7 2005 // Federal and state investigators are looking into a deal between American International Group Inc. and Berkshire Hathaway Inc.’s General Reinsurance unit in part because of the alleged involvement of AIG’s...
N.Y. CREDIT RULES IRK INSURERS:
Mar 7 2005 // Insurance companies are concerned that new regulations adopted by the New York Insurance Department regarding the use of credit information for personal lines coverage could be more burdensome than necessary. The...
People & Places
Mar 7 2005 // Deneen Schmitt Deneen Schmitt and Jim Cottone are among two of the newest additions to the expanding Pittsburgh, Pa., operations of Willis Group Holdings. Schmitt has joined Willis from Aon to serve as a senior vice...
News from Worldcom, Enron and Spitzer Invades PLUS Symposium
Mar 7 2005 // News from Worldcom, Enron and Spitzer Invades PLUS Symposium Settlements that reach beyond insurance and into the pockets of firms’ former directors draw attention to the limits of insurance, professional liability...
Ripped from the Headlines: Law and Order in Today’s D&O
Mar 7 2005 // News from Worldcom, Enron and Spitzer Invades PLUS Symposium Settlements that reach beyond insurance and into the pockets of firms’ former directors draw attention to the limits of insurance, according to...
