Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
N.Y. Reaches Reform Agreements With 4 Additional ‘Force-Placed’ Insurers
Jun 3 2013 // New York officials announced that the state’s “force-placed” insurance reforms will now cover 100 percent of the New York market after the New York State Department of Financial Services (DFS) reached...
Tokyo Prepares for a 1-in-200-Year Flood to Top Sandy
Jun 3 2013 // Tokyo, the world’s most populated metropolis, is building defenses for the possibility of a flood in the next 200 years that could dwarf the damage superstorm Sandy wrought on the U.S. East Coast. Japan’s...
New York City Tops List of Cities With Most Questionable Claims
Jun 3 2013 // New York City tops the list of U.S. cities with the highest number of questionable insurance claims, according to the latest analysis by the National Insurance Crime Bureau (NICB). The NICB’s annual look at...
New York Legislators Take Aim at ACC Clauses
Jun 3 2013 // The New York State Assembly’s insurance committee on May 23 approved a bill that would prohibit the insurers’ use of anti-concurrent causation (ACC) clauses in the state. The bill, A07455, was introduced by...
Former U.S. Federal Reserve Insurance Counsel Frank Alerte Joins Colodny, Fass, Talenfeld, Karlinsky, Abate & Webb
May 31 2013 // Ft. Lauderdale, FL, 5/31/13 – Frank Alerte, a former executive insurance counsel at the U.S. Federal Reserve, Guy Carpenter and BB&T, has joined the law and governmental consulting firm of Colodny, Fass,...
AIG Ends a Bailout-Related Lawsuit Against N.Y. Federal Reserve
May 30 2013 // American International Group Inc. has agreed to end litigation against the Federal Reserve Bank of New York over whether the insurer retained the right after its 2008 taxpayer-funded bailout to sue over losses on...
Group Applauds N.Y. Senate Passage of Certificates of Insurance Bill
May 30 2013 // The Professional Insurance Agents of New York State Inc. applauded the New York State Senate for passing a bill, S.3084-A/A.3107-B, on Wednesday, which has long been advocated by the association. The bill now moves to the...
N.Y.-Based Navigators Management Taps AIG Exec as New Chief Claims Officer
May 30 2013 // Rye Brook, N.Y.-based specialty insurer The Navigators Group appointed Glen Bronstein as chief claims officer of Navigators Management Company, the Group’s principal U.S. underwriting agency subsidiary. Prior to...
Third Person Sentenced in New York Auto Insurance Scam
May 30 2013 // Federal authorities say a 67-year-old central New York man has been sentenced for his role in staging a motor vehicle crash to collect insurance money. The U.S. Attorney’s Office says Joseph Demme of Whitesboro was...
Allstate, Citigroup Settle Mortgage Securities Lawsuit
May 30 2013 // Allstate Corp. and Citigroup Inc. agreed to settle a lawsuit filed by the insurer in New York state court accusing the bank of fraudulently selling hundreds of millions of dollars of mortgage-backed securities. Allstate,...
N.Y. Liquidation Bureau Distributed $346M in 2012; Over 6,000 Claims Resolved
May 29 2013 // New York State’s Financial Services Superintendent Ben Lawsky announced the publication of the New York Liquidation Bureau’s 2012 annual report. The report said that last year the Bureau distributed a record...
New York Regulator Asks Insurers About Readiness for Cyber Threats
May 29 2013 // New York’s top financial regulator has asked some of the largest U.S. insurance companies to disclose details on their preparedness for cyber attacks, following a similar request to major banks earlier this year.New...
Greenberg Should Face Trial as ‘Deterrent,’ Says New York State
May 29 2013 // Hank Greenberg should still face trial over sham transactions he is accused of orchestrating while he was head of American International Group, even though New York has dropped most of its claims against him, a lawyer for...
Greenberg Seeks Dismissal of Spitzer Reinsurance Lawsuit
May 28 2013 // New York’s highest court will hear arguments on Tuesday on whether to dismiss a lawsuit accusing Hank Greenberg of orchestrating sham transactions when he was head of insurance company American International Group...
New York Officials Urge Preparation for Hurricane Season
May 28 2013 // State officials are urging New York residents to prepare for hurricane season. The season starts June 1 and lasts through November. The National Oceanic and Atmospheric Administration said last week there is a 70 percent...
N.Y. Compensation Insurance Rating Board Seeks 16.9% Hike in WC Loss Costs
May 24 2013 // The New York Compensation Insurance Rating Board (NYCIRB) said it submitted to the state’s Department of Financial Services last week a loss-cost filing for an overall average loss cost change of +16.9 percent. A...
Crystal & Co. Exec Moves to Hub International in New York
May 24 2013 // Chicago-based broker Hub International’s Northeast division hired Scott Konrad as senior vice president and not-for-profit business practice leader.Scott KonradBased in Hub’s New York City office, Konrad will...
N.Y. Assembly’s Anti-Concurrent Causation Bill Moves Forward
May 24 2013 // The New York State Assembly’s insurance committee on Thursday approved a bill that would prohibit the insurers’ use of anti-concurrent causation (ACC) clauses in the state. The bill, A07455, is now eligible to...
$3.7B in Additional Sandy Relief Aid Announced for N.Y., N.J. Transit Agencies
May 24 2013 // U.S. Transportation Secretary Ray LaHood announced on Thursday an additional $3.7 billion in disaster relief funds to help the four major transit agencies in New York and New Jersey that sustained the greatest damage from...
N.Y. Assemblyman Takes Aim at Anti-Concurrent Causation Clauses
May 22 2013 // A New York State Assemblyman has introduced a bill that seeks to prohibit the insurers’ use of anti-concurrent causation (ACC) clauses in the state. The bill, A07455, was introduced on May 17 by Assemblyman Phil...
