Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
Fitch Downgrades Marsh & McLennan’s Senior Debt, S-T Ratings Following Probe
Oct 18 2004 // Fitch Ratings has downgraded the senior debt and long-term ratings on Marsh & McLennan Companies Inc. (MMC) to ‘A-‘ from ‘A+’ and the short-term ratings on Marsh & McLennan to...
New York AG Sues Marsh Over Contingent Commissions, Cites Insurers Over Alleged Bid-Rigging
Oct 14 2004 // New York Attorney General Eliot Spitzer on Oct. 14 sued Marsh & McLennan Companies, the nation’s biggest insurance brokerage firm, alleging that it steered clients to insurers with whom it had lucrative...
Ambulette Companies, Two Principals Offer Guilty Pleas in N.Y. No-Fault Billing Scam
Oct 14 2004 // New York Attorney General Eliot Spitzer and State Insurance Superintendent Gregory Serio announced guilty pleas to two separate indictments by owners of several ambulette companies for submitting fraudulent transportation...
N.Y. SEES PROGRESS AGAINST FRAUD:
Oct 11 2004 // The fight against insurance fraud in New York is producing encouraging results as the cost of the average auto injury claim under the state’s no-fault insurance system declined by 20 percent between 2002 and 2003,...
N.Y. TO STUDY FIREFIGHTERS’ HEALTH PLAN:
Oct 11 2004 // Volunteer fire and ambulance corps in New York want to study whether health insurance coverage could be an incentive companies can offer to keep current members and to improve the increasingly challenging process of...
People & Places
Oct 11 2004 // Dave Wyrsch The Independent Insurance Agents and Brokers of New Jersey (IIABNJ)swore in new officers for the 2004/2005 year at its 111th annual conference in Newport, Rhode Island. Dave L. Wyrsch, Sr., of The Van Dyk Group...
CEOs Praise Hudson Valley N.Y. Market
Oct 10 2004 // The Professional Insurance Agents of New York State Inc. celebrated its second annual Hudson Valley Regional Awareness Program recently as about 250 insurance professionals attended the conference in Suffern, N.Y. During...
Pawtucket Mutual Cancellations in Effect in New York
Oct 6 2004 // The New York Supreme Court recently affirmed the position of Rhode Island regulators that decisions on policy cancellations involving a rehabilitating insurer must be handled within their state rehabilitation court and not...
Hub Enhances Embassy Insurance Program
Sep 24 2004 // Chicago-based Hub International Limited announced that it has enhanced its exclusive Embassy Program, providing property and casualty insurance to embassies, consulates and missions to the United Nations in Washington DC...
Jefferson Pilot Products Now Available in N.Y.
Sep 23 2004 // Jefferson Pilot Financial and its employee benefits division, Benefit Partners, announced that its non-medical group and worksite employee benefit products, including term life insurance, short-term disability, long-term...
Sen. Schumer Seeks N.Y. Nuke Workers’ Compensation
Sep 23 2004 // Standing with former nuclear workers from western New York, U.S. Senator Charles E. Schumer (D-N.Y.) took the federal government to task for not processing claims of 525 former nuclear workers or their survivors, and...
On Behalf of State Regulators, N.Y. Superintendent Serio Speaks Out Against Federal Oversight
Sep 22 2004 // Claiming that progress is already underway toward building a stronger, national, state-based system of insurance regulation, the National Association of Insurance Commissioners (NAIC) told the Senate Committee on Banking,...
Insurers Report ‘Encouraging’ Progress in Crackdown on Auto Claim Fraud in N.Y.
Sep 16 2004 // The fight against insurance fraud in New York is producing encouraging results as the cost of the average auto injury claim under the state’s no-fault insurance system declined by 20 percent between 2002 and 2003,...
ACE USA Appoints N.Y.-Based Mayer to Senior VP Post to Lead Construction Practice
Sep 15 2004 // ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, announced the appointment of Frank Mike-Mayer, senior vice president, to lead the ACE USA Construction Group. Based in New York City,...
Tower Group Buys Pre-Atlantic Mutual N.Y. Commercial Renewals from OneBeacon
Sep 15 2004 // New York-based Tower Insurance Group has agreed to purchase the renewal rights on most of the New York commercial business OneBeacon Insurance held prior to OneBeacon’s buying Atlantic Mutual’s book of business...
PIANY Elects Ruchman, Officers for 2004-2005
Sep 13 2004 // Officers of Professional Insurance Agents of New York State Inc. have been elected for the 2004-2005 administrative year. • N. Stephen Ruchman of Hewlett was elected president. He is president of Ruchman Associates Inc....
N.Y. Psychiatrist to Get Plenty of Couch Time; Receives 23-Count Indictment in Insurer Fraud Scam
Sep 10 2004 // New York Attorney General Eliot Spitzer announced that a Nanuet psychiatrist has been charged with defrauding government insurers of more than $1 million by billing for services never rendered. Dr. Justin Psaila, who...
NAMIC Targets Corporate Governance, Market Conduct, Securities Ratings, and Credit Scoring at NAIC Meeting
Sep 8 2004 // The National Association of Mutual Insurance Companies (NAMIC) will advocate its positions on corporate governance, market conduct, securities ratings, and credit scoring during the National Association of Insurance...
Three Years Later: Industry Rebuilds from 9/11, But Doesn’t Forget
Sep 6 2004 // Robert Hartwig, senior vice president and chief economist for the Insurance Information Institute (I.I.I.), knows that while Tuesday, Sept. 11, 2001, will never be forgotten both inside and outside the insurance industry,...
People and Places
Sep 6 2004 // Margie Bishop Vista Insurance Partners, based in San Antonio, appointed Margie Bishop as senior broker/underwriter. Bishop will work with current and new Vista agents to develop new business and retain existing accounts...
