Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
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...
N.Y. Insurers Caution Lawmakers Over Reaction to Broker Probes As Albany Prepares for Assembly Hearing
Dec 2 2004 // The New York Insurance Association (NYIA) cautioned state lawmakers in Albany against “a knee-jerk public policy reaction” to allegations of improper business practices by brokers, agents and insurers that...
Study Finds Medical Costs Driving Up Auto Injury Claims
Nov 30 2004 // A new study by the Insurance Research Council (IRC) finds that claimed losses for auto injuries have escalated at vastly different rates across four states with no-fault auto insurance regulations. From 1997 to 2002, the...
Calafiore Elected President of Greater N.Y. Brokers
Nov 29 2004 // The Council of Insurance Brokers of Greater New York inaugurated its youngest president to date — Anthony S. Calafiore, president, Apex Brokerage Co. Inc. — at its 27th annual Dinner Dance. CIBGNY also honored Terry M....
MBIA Provides Additional Information on Subpoenas
Nov 24 2004 // New York- based financial guarantee insurer MBIA, Inc. has issued a follow-up bulletin concerning the subpoenas it recently received from the Securities and Exchange Commission and the New York Attorney General’s...
PIANY’s MetroRAP 2005 Education Designed for Downstate Insurance Professionals
Nov 24 2004 // The Professional Insurance Agents of New York State Inc. will feature two continuing education courses during its annual Metropolitan Regional Awareness Program, Thursday, Jan. 20, 2005, at the New York Marriott Brooklyn,...
N.Y. Superintendent Calls for Auto Rate Reassessment as Fraud-Fighting Successes Drop Insurers’ Losses
Nov 23 2004 // New York Superintendent of Insurance Gregory Serio on Tuesday announced the commencement of an immediate and broad-based review of auto insurance rates for private passenger vehicles in New York State. Insurance companies...
N.Y. Hearing on Marsh Rescheduled for Jan. 18
Nov 22 2004 // A public hearing on Marsh & McLennan Companies Inc. that was scheduled by the New York Department of insurance for Tuesday, Nov. 23, 2004 has been adjourned to Tuesday, Jan. 18, 2005. The hearing was moved due to the...
Fruitful Season: Buyers Keep Picking Off Agencies
Nov 22 2004 // Insurance agencies continued to be picked off at a healthy clip throughout 2004 but experts believe buyers will still be hungry in the new year. Several reports indicate that 2004 announced deals should exceed the number...
N.Y. UNVEILS HOLOCAUST AWARDS:
Nov 22 2004 // New York Governor George E. Pataki revealed that $2.3 million in offers have been made to Holocaust survivors and their heirs for insurance policies held with companies that were either liquidated or nationalized after...
