Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
Conference Sure of Firm Market, Uncertain About Future of Regulation
Dec 15 2003 // Except for the future of insurance regulation, there was surprising unanimity on leading issues facing the property and casualty insurance industry among both panelists and guests at the Fifteenth Annual Executive...
NAII Applauds Adoption of NYSID Proposal to Exempt Rated Securities from NAIC Filing Requirements
Dec 10 2003 // The National Association of Independent Insurers issued a bulletin congratulating regulators at the NAIC meeting for adopting a proposal by the New York Insurance Department to exempt securities rated by a nationally...
Collins Associates Hires Hudson to Establish N.Y. Office
Dec 10 2003 // John B. Collins Associates, Inc., a reinsurance intermediary, announced that senior property/casualty reinsurance broker Simon Hudson has joined the firm. Hudson was previously with Willis Re. With 20 years of insurance...
Crackdown on N.Y. No-Fault Fraud Reportedly Begins to Pay Dividends as Costs Show Slight Decline
Dec 10 2003 // The vigorous crackdown on insurance fraud and abuse spearheaded by New York’s insurance companies, law enforcement agencies and prosecutors, and supported by tough insurance department regulations and a statewide...
A New Workers’ Compensation Insurer for Businesses Situated in New York State
Dec 9 2003 // First Pavilion Insurance Company published its intention to form a stock insurance corporation under the provisions of the Insurance Law of the State of New York. The Company plans to write excess insurance policies with a...
PIANY Announces Continuing Education Courses for MetroRAP 2004
Dec 5 2003 // The Professional Insurance Agents of New York State Inc. announced that it will feature two continuing education courses during its annual Metropolitan Regional Awareness Program (MetroRAP) scheduled for Thursday, Jan. 22,...
Trio of Insurers File Largest No-Fault Lawsuit in N.Y. History
Dec 4 2003 // The Allstate Insurance Company, Encompass Insurance and Nationwide Mutual Insurance Company on Wednesday filed a RICO (Racketeer Influenced and Corrupt Organizations Act) action in the Supreme Court of New York against 74...
N.J. DOBI Issues Notice on Legion to Surplus Lines Producers
Dec 4 2003 // Holly C. Bakke, the head of New Jersey’s Department of Banking and Insurance, has issued a bulletin to the state’s licensed surplus lines producers requesting that they advise policyholders about the Legion...
Aspen Prices IPO at $22.50 per Share
Dec 4 2003 // Aspen Insurance Holdings Limited announced that the initial public offering of 10,524,000 of its ordinary shares was priced at $22.50 per share. The number of shares and the initial price were higher than originally...
AutoOne Insurance to Service NJ PAIP
Dec 2 2003 // AutoOne Insurance will become the newest carrier to handle New Jersey Personal Automobile Insurance Plan (NJ PAIP) business as a Limited Assignment Distribution (LAD) servicing carrier, beginning Jan.1, 2004. The...
Report N.Y. Prosecutors Find More Evidence of Slayings to Collect Life Insurance
Dec 1 2003 // Federal prosecutors in Queens have been conducting an ongoing investigation into unsolved killings of a number of persons who had recently taken out life insurance policies. The investigation was triggered by the arrest...
S&P Affirms ‘BBBpi’ Ratings of New York Central Mutual Fire Insurance Co.
Nov 26 2003 // Standard & Poor’s Ratings Services announced that it has affirmed New York Central Mutual Fire Insurance Co.’s (NYCM) ‘BBBpi’ counterparty credit and financial strength ratings. The...
IABNY Urges Regulators to Drop NYPIUA Proposals
Nov 25 2003 // The Independent Insurance Agents & Brokers of New York has urged regulators to drop consideration of proposals that would expand coverage by the New York Property Insurance Underwriting Association into commercial...
N.Y. State Attorney General to Speak at PIANY MetroRAP
Nov 24 2003 // Independent insurance professionals who attend the Professional Insurance Agents of New York State Inc.’s Metropolitan Regional Awareness Program will hear what New York State Attorney General Eliot Spitzer’s...
N.Y. Department Notes 5% Overall Auto Rate Reduction by State Farm Mutual
Nov 13 2003 // New York Superintendent of Insurance Gregory Serio announced that the Insurance Department has approved a State Farm Mutual Insurance Company overall rate reduction of 5% on their private passenger automobile rates which...
Commercial Liability Coverage Available in N.Y., But Reportedly Costly, Particularly for Contractors
Nov 10 2003 // While more costly for many New York businesses, commercial liability insurance is widely available throughout New York State, according to the New York Insurance Association (NYIA). Addressing a hearing before the New York...
Contractors Need Assistance, But NYPIUA May Not Be Answer, PIANY Tells Department
Nov 10 2003 // Professional Insurance Agents of New York State Inc. last Friday commended Superintendent Gregory Serio for addressing New York state’s diminishing market for contractors commercial liability insurance. However, the...
WTC CLAIMS WAR OF WORDS CONTINUES AS GOV. SEEKS SETTLEMENT:
Nov 3 2003 // Despite the earnest efforts of New York’s governor George Pataki to find a quick solution to the dispute between Silverstein Properties and Swiss Re over the amount to be paid for the destruction of the World Trade...
NYSID to Hold Public Hearings on Commercial Liability Markets
Oct 29 2003 // Superintendent of Insurance Gregory V. Serio announced that the New York State Insurance Department will hold public hearings around the state to determine whether he will require the New York Property Insurance...
N.Y. Man Sentenced for Impersonating Floridians to Collect Money
Oct 27 2003 // A New York resident has been sentenced in federal court to 13 months in prison and ordered to pay restitution after he reportedly faked the identities of a least three Floridians in order to collect nearly $100,000 in...
