Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
Ex-General Re, AIG Execs May Settle Criminal Case
May 29 2012 // Four former executives at Berkshire Hathaway Inc.’s General Re Corp. and one at American International Group Inc. are in talks to settle a long-running criminal case accusing them of engineering a reinsurance...
N.Y. Rail Workers in Disability Scam May Be Eligible for Amnesty
May 24 2012 // Long Island Rail Road retirees who faked disability claims in order to get more lucrative pensions would avoid prosecution and be able to keep some benefits if they admit wrongdoing under a deal with the federal...
How States Rank in Injury Prevention
May 24 2012 // On a set of 10 steps states can take to prevent injuries , 24 states scored a five or lower. Two states, California and New York, received the highest score of nine out of a possible 10, while two states scored the lowest,...
FBI: 10 More Charged in N.Y. Long Island Rail Road Pensions Case
May 23 2012 // The FBI said it has arrested 10 more people as part of its months-long investigation into allegations that hundreds of Long Island Rail Road employees faked disabilities so they could enjoy more lucrative pensions. Six...
Safety Report Cites Lack of Progress in Reducing Motorcyclist Deaths
May 22 2012 // Last year saw little to no progress in reducing the number of fatal motorcycle crashes around the country, making this one of the few areas in highway safety where progress has been disappointing. The Governors Highway...
N.Y. to Boot Crooked, ‘Dirty Doctors’ From No-Fault Insurance
May 21 2012 // Insurance regulators plan to start kicking crooked doctors out of New York’s no-fault program next month, calling them linchpins in fake-accident scams that cost insurers and ultimately policyholders hundreds of...
N.Y. Proposes New Rule to Fight No-Fault Fraud
May 21 2012 // New York State regulators are expanding their effort to stop no-fault auto insurance fraud. The New York Department of Financial Services announced a draft regulation, Regulation 68, that would make it easier for insurers...
People – East
May 21 2012 // Guy Carpenter & Co. LLC, a global risk and reinsurance intermediary division of N.Y.-headquartered Marsh & McLennan Companies, appointed Andrew Marcell as chief executive officer of U.S. operations and Pete...
E&O Insights: Why Workers’ Compensation Leads in E&O Claims
May 21 2012 // Every year, errors and omissions (E&O) claims arising out of the placement of workers’ compensation account for approximately 10 percent of all claims. Many of those workers’ comp claims are well in excess...
New York Hearings on ‘Forced’ Insurance in Foreclosure
May 20 2012 // Premiums for so-called force-placed insurance have more than tripled since 2004, producing enormous profits for insurers and the banks that take out policies when a homeowner fails to maintain coverage required by the...
N.Y. Compensation Insurance Rating Board Seeks 11.5% Rate Hike
May 18 2012 // The New York Compensation Insurance Rating Board (NYCIRB) has submitted to the Department of Financial Services on Thursday a loss-cost filing for an overall average loss cost change of +11.5 percent. The change in loss...
Former Dewey & LeBoeuf Lawyers Join DLA Piper Hong Kong Office
May 18 2012 // The DLA Piper law firm announced that a group of lawyers led by partners Joyce Chan and Heng Loong Cheong will join its Hong Kong office from Dewey & LeBoeuf. The move signals yet another step in the meltdown of that...
Judge: New York AG Must Decide on Revealing Spitzer’s Emails on AIG
May 17 2012 // New York’s Attorney General must review his predecessor’s private emails relating to a probe of American International Group Inc. and decide whether to release them to the public, a state judge has ruled. The...
Group Urges N.Y. to Overhaul Regulation of Force-Placed Insurance
May 17 2012 // The Consumer Federation of America (CFA), a Washington, D.C.-based consumer advocacy group, today called on New York regulators to become a national leader in overhauling regulation of force-placed insurance (FPI) for...
Aon Hewitt Says NYC Is World’s Lowest-Risk City for Recruiting, Hiring
May 17 2012 // New York maybe crowded and noisy, and the cost of living in the city is sky-high. But it’s also the best city in the entire world for recruiting, employing and relocating employees, according to a new study. Aon...
For Law Firm Dewey & LeBoeuf, the Time May Have Come for Last Rites
May 17 2012 // For Dewey & LeBoeuf, the time may have come for last rites. It has laid off hundreds of employees, been hit with lawsuits for not paying its bills and continued to shed partners, including on Wednesday the last member...
New York Rule Says Insurers Must Seek Beneficiaries
May 16 2012 // Insurers doing business in New York are now required to regularly search a government list of recent deaths to identify policyholders, then find and pay beneficiaries even when no claims are made. New York State Department...
Judge Denies Delay of BofA Directors’ $20 Million Settlement Over Merrill
May 15 2012 // A U.S. federal judge in New York on Monday refused to delay the approval process for a controversial $20 million settlement between Bank of America Corp. directors and shareholders who accused the bank of overpaying for...
AIG Ex-CEO Greenberg Fights Ruling on Reinsurance Fraud Charges
May 15 2012 // Former American International Group Inc. Chief Executive Maurice “Hank” Greenberg said New York’s attorney general should be barred from invoking a 91-year-old state law in a fraud case over two suspect...
PGI Acquires N.Y.-Based Program Administrator American Altair Group
May 14 2012 // PGI Commercial, the U.S. program manager of Bermuda-based insurance distributor Primary Group, has acquired the assets American Altair Group. American Altair Group (AAG), based in Hauppauge, N.Y., is a full-service program...
