Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
Financial Firms Fear Hensarling May Fill Gap Left by Cantor’s Exit
Jun 11 2014 // Wall Street could count on Eric Cantor to take its side in the U.S. Congress. It won’t have the same luck with a top lawmaker in line to replace him. House Financial Services Committee Chairman Jeb Hensarling, who...
Under New CEO Hancock, Smaller AIG Expected to Focus on Growth
Jun 11 2014 // American International Group Inc. promoted Peter Hancock to chief executive officer as the company focuses on growth after his predecessor stabilized the insurer and paid back a 2008 government bailout. Hancock, 55,...
Brown & Brown Acquires Assets of Gaston & Associates in New York
Jun 11 2014 // Brown & Brown of New York Inc., a subsidiary of Brown & Brown Inc., said it acquired certain assets of Gaston & Associates Inc. in Mount Kisco, N.Y. Terms were not disclosed. With origins dating back to...
Federal Appeals Court Rules Bonus Payout for WTC Site Workers Premature
Jun 9 2014 // A judge acted prematurely in awarding a $55 million bonus payment to thousands of rescue and cleanup workers at the World Trade Center site who settled lawsuits against New York City over damage to their health, a federal...
New York Gov. Cuomo Issues Amusement Park Safety Tips
Jun 9 2014 // New York Gov. Andrew Cuomo has a message for families planning trips to amusement parks this summer: avoid horseplay, and keep your hands and feet inside the ride at all times. The Democratic governor announced a series of...
XL Group Hires Railroad Underwriter in New York
Jun 4 2014 // XL Group has hired Aldith “Allie” Townsend as a new underwriter in its railroad business, part of XL Group’s Global Excess Casualty division. Townsend will be based in New York and report to Senior Vice...
N.Y. Lawmakers Urge Passage of Pregnancy Accommodation Bill
Jun 4 2014 // A bipartisan group of lawmakers in the New York State Legislature is urging passage of a bill that would accommodate the needs of pregnant women in the workplace. The measure would require employers to provide reasonable...
Federal Officials Announce 6 Projects to Protect N.Y., N.J. From Storm Damage
Jun 4 2014 // A system of dikes around the tip of lower Manhattan, and water pumps and parks across the Hudson River in New Jersey were among the projects selected Monday to receive nearly $1 billion in federal funding as part of...
Former Dewey Executives Use Indictment to Fend Off Aviva’s Lawsuit
Jun 3 2014 // The three former top executives at Dewey & LeBoeuf LLP, indicted by the Manhattan district attorney for falsely portraying the failing law firm’s financial condition, are using the criminal proceedings to halt a...
N.Y. Seeks More Rules for Investment Firms’ Buys of Insurers
Jun 2 2014 // The New York Department of Financial Services (DFS) has proposed new regulations to oversee private equity and investment firms’ acquisitions of insurance companies, especially acquisitions of annuity companies, in...
Report Shows More New York Doctors Disciplined
May 29 2014 // The New York Public Interest Research Group reports the state disciplined 468 doctors last year, 155 more than a year earlier. NYPIRG says the health department’s Office of Professional Medical Conduct found medical...
XL Adds 4 to East Coast Excess Casualty Teams
May 29 2014 // XL Group has enhanced its excess casualty teams in New York and Atlanta to accommodate its continued growth and sharpened focus on target industries – real estate, hospitality, grocers, restaurants and retail. In New...
N.Y. Orders Narragansett Bay Insurance to Pay $327,400 Fine
May 29 2014 // New York Gov. Andrew Cuomo’s administration announced today that Narragansett Bay Insurance Company will pay a $327,400 penalty for failing to perform timely inspections of Superstorm Sandy damage claims as required...
New York Tornado Almost Hit Stored Fireworks
May 29 2014 // The tornado that touched down in rural eastern New York last week nearly caused a big bang. The owner of a fireworks business said the EF3-rated twister narrowly missed steel storage containers with thousands of pounds of...
Moving Jobs to Low Cost Cities Making AIG ‘Best’ in Efficiency: P/C CEO Hancock
May 29 2014 // American International Group Inc., the largest commercial insurer in the U.S. and Canada, is shifting workers to locations including the Philippines and Texas to reduce costs. “We’re talking several thousand...
Judge Rejects Ex-AIG CEO Greenberg’s Bid to Avoid Trial
May 28 2014 // A New York state judge has rejected a request by Maurice “Hank” Greenberg, the former American International Group Inc. chief executive officer, to dismiss a long-running civil lawsuit by the state’s...
New York City Officials Launch Hurricane Awareness Campaign
May 28 2014 // New York City officials are launching a hurricane awareness campaign to help residents prepare for the upcoming storm season. “Know Your Zone” is being billed as a “one-stop-shop” for hurricane...
New York DFS Issues Bulletin Urging Auto Insurers to Adopt Telematics Programs
May 28 2014 // New York’s Department of Financial Services (DFS) issued a bulletin to all New York auto insurers encouraging them to adopt “usage-based insurance” (UBI) programs. Under these voluntary programs,...
Ratings Recap: Frankenmuth, Sooner, Tokio Marine America, Kingstone, Canopius U.S., HDI-Gerling America
May 28 2014 // A.M. Best has revised the outlook to stable from negative and affirmed the issuer credit ratings (ICR) of “a+” of Frankenmuth Mutual Insurance Company and its affiliates, Ansur America Insurance Company,...
Former New York Railroad Conductor Avoids Prison in Disability Scheme
May 23 2014 // A former Long Island Rail Road conductor has been ordered to repay nearly $295,000 in connection with the LIRR disability fraud case in New York. Christopher Parlante was a key government witness in two trials that ended...
