Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
UK Bank May Have Hidden $250 Billion in Iran Deals; May Lose U.S. License
Aug 7 2012 // New York’s top bank regulator threatened to strip Standard Chartered Plc of its state banking license, saying the British bank was a “rogue institution” that hid $250 billion in transactions tied to Iran,...
N.Y. Pilot Program Allows Colleges to Self-Fund Student Health Plans
Aug 6 2012 // A pilot program now underway in New York State will allow large universities to self-fund student health plans, with the goal of providing health coverage to students at a lower cost. The program is the result of...
WKFC Underwriting Managers Appoints Chief Casualty Officer in New York
Aug 6 2012 // Melville, N.Y.-based WKFC Underwriting Managers has appointed Adam Schnell as chief casualty officer. In his new role, Schnell will focus on developing new casualty product offerings with an emphasis on products liability...
N.Y. Approves Mutual Bond Insurer for Muni Market
Aug 6 2012 // New York State’s Department of Financial Services announced on July 23 that it has licensed Build America Mutual Assurance Company (BAM) to operate as the first mutual bond insurer serving the U.S. municipal market...
New York to Lower Workers’ Comp Rates by 1.2%
Aug 6 2012 // New York Gov. Andrew Cuomo announced on July 17 that New York State employers will see a reduction in workers’ comp premium rates. The governor said rates to policyholders will see a decrease of 1.2 percent in the...
Business Moves – East
Aug 6 2012 // USI, Kelly Insurance USI Insurance Services, an insurance brokerage and financial service firm in Briarcliff Manor, N.Y., completed its acquisition of New York-based Kelly Insurance Brokerage Inc. Terms of the transaction...
Marsh USA Executive Joins XL Group’s Primary Casualty Unit in New York
Aug 2 2012 // XL Group plc has appointed industry veteran Alfred Bergbauer as head of multinational casualty in North America. Bergbauer will report to Ken Riegler, president of XL Group’s North American Primary Casualty group. He...
Natural Gas Drilling Co. Tells N.Y.: Stop the Local Bans or We’ll Sue
Aug 1 2012 // A natural gas drilling company is taking a new tack in the industry’s fight against local drilling bans: It’s threatening to sue if New York regulators don’t step in and extinguish the prohibitions. John...
N.Y. Judge Orders Iran, al-Qaida to Pay $6B for 9/11
Aug 1 2012 // A federal judge in New York has ordered al-Qaida, the Taliban and Iran to pay $6 billion to relatives of Sept. 11 victims for aiding in the 2001 terror attacks. Manhattan Federal Magistrate Judge Frank Maas’ ruling...
Violent Storms Kill 2, Leave Thousands Without Power in Mid-Atlantic, Midwest
Jul 27 2012 // Violent thunderstorms barreled through the Ohio Valley and mid-Atlantic regions of the eastern United States late on Thursday, killing two people and cutting power to more than 130,000 homes and businesses in New York,...
General Star’s Real Estate Appraiser E&O Program Now Available in N.Y.
Jul 25 2012 // General Star Management professional liability coverage for real estate appraisers has been approved and is now available in New York on an admitted basis. Underwritten by General Star’s Professional E&O...
Liberty Mutual Executive Joins The Navigators Group in Rye Brook, N.Y.
Jul 25 2012 // Rye Brook, N.Y.-based specialty insurer The Navigators Group appointed Mark Yunque as chief actuary and senior vice president of Navigators Management Company Inc., its principal U.S. underwriting agency subsidiary. In his...
New York Licenses First Mutual Bond Insurer for U.S. Municipal Market
Jul 24 2012 // New York State’s Department of Financial Services announced this week that it has licensed Build America Mutual Assurance Company (BAM) to operate as the first mutual bond insurer serving the U.S. municipal market...
USI Insurance Services Acquires Kelly Insurance Brokerage in New York
Jul 24 2012 // USI Insurance Services, an insurance brokerage and financial service firm in Briarcliff Manor, N.Y., completed its acquisition of New York-based Kelly Insurance Brokerage Inc. Terms of the transaction were not...
Integro Insurance Executive Joins Frank Crystal & Co. in New York
Jul 24 2012 // New York-based brokerage firm Frank Crystal & Co. has appointed Walter S. Tomenson III as producer and executive director. He will report to John Smith, executive vice president of Frank Crystal & Company. He...
Walnut Place Drops Objections to $8.5 Billion BofA Deal; AIG Still Questions
Jul 24 2012 // Walnut Place, an entity that had challenged a proposed $8.5 billion settlement between Bank of America Corp. and investors in failed mortgage-backed securities, has withdrawn its objections to the deal. The development on...
N.Y. Judge: Aon’s Poaching Suit Against Alliant Ins. Can Proceed
Jul 23 2012 // A New York court ruled recently that Aon Risk Services Northeast can proceed with its lawsuit against California-based Alliant Insurance Services involving employment covenants. Aon alleged that several of its former...
New York’s Top Regulator Seeks Insurer Data in 9/11 Case
Jul 23 2012 // New York’s top insurance regulator has directed insurers this month to detail payouts and reserves for claims in the 2001 World Trade Center attacks in an effort to prompt settlement of the decade-old federal...
Buffalo Region Has Highest Auto Theft Rate in New York State
Jul 23 2012 // The New York Insurance Association said this month the Buffalo-Niagara Falls metropolitan area has the highest vehicle theft rate in New York State. The region had a vehicle theft rate of 161.19 thefts per 100,000...
People – East
Jul 23 2012 // Pawtucket, R.I.-based Narragansett Bay Insurance Company recently named Todd Hart as the new chief executive officer. Narragansett Bay founder Nick Steffey, who has stepped down from the CEO role, will continue as...
