Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
People & Places
Dec 20 2004 // John Tympanick The Liquor Liability Joint Underwriting Association of Massachusetts (LLJUA) has named John W. Tympanick as president. LLJUA, based in Westboro, Mass., is a last-resort liquor liability insurance provider...
From Maine to Virginia … What Happened in 2004
Dec 20 2004 // Leaving aside the insurance brokerage compensation investigations, the World Trade Center trial, the St. Paul-Travelers merger and the UnumProvident settlement, all of which have their roots in this region but grew to...
‘Girly Men’ and the Real World: The Public Role in Extreme Risk-Sharing
Dec 17 2004 // The Wharton School professor argued that insurance companies are not “girly men” when it comes to providing coverage for extreme risks such as hurricanes and terror attacks. It’s the federal...
N.Y. Insurance Department to Approve 6% Auto Rate Drop for GEICO Customers
Dec 16 2004 // New York Superintendent of Insurance Gregory Serio announced on Thursday that GEICO auto insurance customers in New York State will see an across-the-board rate reduction in 2005 resulting in a savings of 6 percent for a...
St. Paul Travelers Subpoenaed Again in N.Y.
Dec 13 2004 // New York Attorney General Eliot Spitzer has issued a fourth subpoena to St. Paul Travelers Companies Inc., and officials at the insurance firm said his office is investigating whether they improperly dropped liability...
PCI Names Baldwin N.Y. Regional Manager
Dec 13 2004 // The Property Casualty Insurers of America (PCI) recently named Kristina Baldwin as its new regional manager and counsel for New York. Baldwin, who started at PCI on Dec. 6, will operate from offices in Albany, where she...
N.Y. Agents’ Survey Sees Lingering Hard Market
Dec 9 2004 // Independent agents and brokers in New York see premium rates continuing to increase and coverage choices failing to improve for most lines of property casualty insurance in the state despite industry and press reports to...
N.Y. Moves Against Balboa Insurance Co.’s Handling of Homes Served by Volunteer Firefighters
Dec 9 2004 // New York Superintendent of Insurance Gregory V. Serio announced that the Balboa Insurance Company has agreed to initiate immediately training for all of their company’s underwriters in the wake of an on-going New...
Spitzer Leads N.Y. Gov. Pataki, Trails Secretary of State Powell in Quinnipiac Poll
Dec 9 2004 // Eliot Spitzer George Pataki Colin Powell The race is still some time off, but New York Attorney General Eliot Spitzer (D), who has been on a crusade this year to fight reported bid-rigging in the insurance industry, holds...
U.S. Personal Lines Sector Remains Strong With a Stable Outlook, Report Says
Dec 7 2004 // Fundamentals remain strong for U.S. personal lines insurance carriers, according to a report published by Standard & Poor’s. This is reflected in S&P’s decision to retain a stable outlook on the...
Surprise! Spitzer is Running for N.Y. Governor
Dec 7 2004 // Crusading New York Attorney General Eliot Spitzer is running for the state’s governorship in 2006, according to an announcement posted at his Web site today. Spitzer, a Democrat who has upended the insurance industry...
Arch Subpoena from N.Y. AG Concerns Lawyers Malpractice Insurance Program
Dec 6 2004 // Arch Capital Group Ltd. (Nasdaq:ACGL) announced that, on December 2, 2004, Arch Insurance Group received a subpoena from the New York State Attorney General. The subpoena requested certain information concerning its...
SPITZER TAKES COMPENSATION PROBE TO WASHINGTON
Dec 6 2004 // Senate Panel Wants In, Agents Want Out of Brokerage Scandal At recent Senate hearings in Washington called to follow-up on allegations of bid rigging and hidden compensation by Marsh and other large insurance brokers,...
Keeping Up with Insurance Brokerage Investigations
Dec 6 2004 // Recent Key Developments in Ongoing Probes of Marsh, Other Brokers and Insurers Marsh ‘Hopeful’ of Quick Settlement Marsh & McLennan has been in constant contact and cooperation with New York Attorney Eliot...
N.Y. TO REVIEW AUTO RATES:
Dec 6 2004 // New York Superintendent of Insurance Gregory Serio, citing steep declines in insurer losses as a result of successful fraud fighting, has launched a review of auto insurance rates for private passenger vehicles in the...
Hurricane Spitzer to Take London by Storm
Dec 6 2004 // There’s still some sense of disbelief over here in London at the moment. Hurricane Spitzer seems to have struck New York full on, but the hope that it may not hurt London too much is palpable. The thinking goes that...
Study: Half of Compensation to 9/11 Victims Came from Insurance
Dec 6 2004 // Rand Analysis Seen Boosting Argument for Extension of Federal Terrorism Backstop Insurance companies played the largest role in compensating people and businesses hurt by the Sept. 11 attacks, paying slightly more than...
Keeping Up with Insurance Brokerage Investigations
Dec 6 2004 // Recent Key Developments in Ongoing Probes of Marsh, Other Brokers and Insurers Marsh ‘Hopeful’ of Quick Settlement: Marsh & McLennan (MMC) has been in constant contact and cooperation with New York...
States Reach $120 Million Claims Agreement with UnumProvident
Dec 6 2004 // A multi-state settlement with UnumProvident Corp. over its disputed handling of disability claims would cost the firm more than $120 million to comply and require it to review more than seven years of claims. It also calls...
N.Y. Insurance Panel Cancels Brokerage Hearing
Dec 3 2004 // A New York Assembly Committee hearing into insurance brokerage practices scheduled for Monday, Dec. 6 has been postponed. The office of the Assembly Insurance Committee said no new date has been announced. Assemblyman...
