Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
N.Y. Superintendent Details Need for Federal Backstop for Terrorism Losses
Mar 4 2002 // New York Superintendent Gregory V. Serio testified recently before the U.S. House of Representatives Committee on Financial Services Subcommittee on Oversight and Investigations, detailing the status of the insurance...
AAI Says Appeal of Reg 68 Ruling Costs NY Drivers $2 Million a Day
Feb 28 2002 // The Alliance of American Insurers (AAI) has strongly attacked the decision of groups led by trial lawyers to appeal trial Judge William Wetzel’s decision to give the New York State Insurance Department the go-ahead...
NYSID Issues Guidelines for Insurers on CPA Consulting Payments
Feb 22 2002 // Superintendent of Insurance Gregory V. Serio announced that the New York State Insurance Department has issued guidelines for the insurance industry concerning the disclosure of consulting work performed by independent...
Farmers in Exclusive Program with NY Detective’s Ass’n.
Feb 19 2002 // The Farmers Insurance Group of Companies announced that it has developed an exclusive insurance program to be made available to members of the Detectives’ Endowment Association (DEA) of New York City. “This...
Preserver Group Extends Tender Offer Deadline
Feb 13 2002 // Preserver Group, Inc. announced that it will extend the expiration date of its cash tender offer for all of its shares of common stock which was set to expire on February 14 to 5:00 p.m. New York City time on February 28,...
Family of NY Asbestos Victim Awarded $53.5 Million
Feb 12 2002 // A Manhattan jury awarded the family of Stephen Brown, who died from an asbestos related illness, $53.5 million in damages against Honeywell International, as the successor in interest of Allied Signal Corp. and its Bendix...
NY P/C Agents Can Now Renew Licenses On-line
Feb 8 2002 // New York State Insurance Department Superintendent Gregory V. Serio announced that for the first time property/casualty agents in New York State can renew their licenses over the Internet. “The new on-line program...
NYSID Advises Consumers on Assigned Risk
Feb 6 2002 // Responding to concerns that some drivers may think that the Assigned Risk Plan is their only option for auto insurance, New York State Insurance Department Superintendent Gregory V. Serio advised residents of the five...
OneBeacon Strengthens Management Team in NY/NJ Metro Region
Feb 5 2002 // Boston-based OneBeacon Insurance Group, a wholly owned subsidiary of White Mountains Insurance Group, Ltd. announced the appointment of two new members to its field management team. Both will report to John Cavoores,...
IRC Cites Fraud as Cause of NYC Claims Jump
Jan 29 2002 // A new study by the Insurance Research Council (IRC) has concluded that a 20 percent increase in claims costs in the New York metropolitan area is primarily due to widespread fraud targeting the state’s no-fault...
20 Arrested as NY Auto Fraud Unit Breaks Up Another Insurance Scam
Jan 25 2002 // Six weeks after arresting 112 persons on various charges of insurance fraud, (See IJ Website Dec. 6) New York’s Auto Insurance Fraud Unit has struck again with the arrest of 20 persons accused of being part of...
NAMIC REpresentative Warns of ‘Stultifying’ Economic Consequences of Reinsurance Shortage
Jan 21 2002 // Warren Heck, chairman and CEO of the Greater New York Mutual Insurance Company will explain to the NAIC’s Reinsurance Task Force the more general economic problems that accompany the post-9/11 reinsurance...
NYSID’s Frauds Bureau Posts Record Year
Jan 17 2002 // The New York State Insurance Department’s Frauds Bureau (FB) set new records last year for the investigation and apprehension of persons suspected of committing insurance fraud in the State. I investigations resulted...
Alliance Urges Calif. and N.Y. to Reconsider Terrorism Exclusions
Jan 14 2002 // Rodger S. Lawson, Ph.D., president of the Alliance of American Insurers, released the following statement questioning the logic of the decision by the California and New York insurance departments to deny the ISO...
Without Terrorism Exclusions, Surplus Lines Insurers Hold Out Lifeline to Calif., N.Y. Businesses
Jan 14 2002 // AccordingSurplus lines insurers may offer hope for businesses to remain insured in those states, like California and New York, that are refusing to allow insurers to exclude terrorism risks in commercial insurance...
World Trade Center Building Lawsuits Multiply
Jan 14 2002 // Several new fronts have opened in the ongoing battle over World Trade Center coverage. On Dec. 28, 2001, Silverstein Properties (SP), the master leaseholder, filed a lawsuit against Travelers to recover the losses it...
World Trade Center Building Lawsuits Multiply
Jan 14 2002 // Several new fronts have opened in the ongoing battle over World Trade Center coverage. On Dec. 28, 2001, Silverstein Properties (SP), the master leaseholder, filed a lawsuit against Travelers to recover the losses it...
NY Rejects Broad Terrorist Exclusions
Jan 9 2002 // New York State Insurance Department Superintendent Gregory V. Serio has reportedly rejected requests from the insurance community and the NAIC to permit the endorsement of broad “terrorist exclusion” provisions...
Brown and Brown Acquires NY’s Sestito Agency
Jan 4 2002 // The New York subsidiary of national insurance intermediary Brown & Brown announced that it has acquired the business of Virgil N. Sestito, a sole proprietor doing business as Sestito Insurance Agency, of Rome, New...
Allcity Announces Liquidation
Dec 31 2001 // Allcity Insurance Company announced the decision of the Empire Insurance Group, which includes the Company, its parent, Empire Insurance Company, and its affiliate, Centurion Insurance Company (collectively, the...
