Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
Last Loans Used to Buy AIG, Bear Stearns Assets Repaid: Fed Reserve
Jun 15 2012 // The Federal Reserve Bank of New York said on Thursday the last of its loans made to acquire risky assets from AIG and Bear Stearns during the financial crisis have been paid off with interest. The Fed bank acquired the...
Upstate N.Y. Plant Hit With $233K in OSHA Fines
Jun 14 2012 // Federal workplace safety officials have hit a hair care manufacturer with fines of $233,000 for hazards at its upstate New York plant. The Occupational Safety and Health Administration says inspectors found 44 serious...
JetBlue Fliers File Suit in New York Over Pilot Scare
Jun 14 2012 // Ten passengers are suing JetBlue over a flight during which a pilot had to be physically restrained after screaming about religion and terrorism. They claim the airline was “grossly negligent” in allowing him...
N.Y. Orders ‘Force-Placed’ Insurers to Submit New Lower Rate Proposals
Jun 13 2012 // New York regulators said they have ordered three major insurers offering ‘force-placed’ homeowners insurance in New York to submit proposals for new premium rates. N.Y. Financial Services Superintendent Lawsky...
New York City Pension Fund Sues Wal-Mart Over Mexican Bribery Allegations
Jun 12 2012 // New York City’s pension funds on Monday became the latest group to file a derivative lawsuit against Wal-Mart Stores Inc. based on reported allegations of bribery in Mexico and a possible cover-up by Wal-Mart...
Aon Executive Joins New York-Based Broker Sterling & Sterling
Jun 11 2012 // Woodbury, N.Y.-based brokerage firm Sterling & Sterling Inc. appointed Howard Tollin as president of the environmental services division. In this newly-created position, he will be responsible for working with clients...
New York Court Rejects College Pitcher’s Injury Claim
Jun 7 2012 // New York’s top court says a college pitcher hit in the face with a line drive at indoor practice accepted the sport’s risk and has rejected his damages claim against Clarkson University and the coach. The Court...
Stahlka Agency Acquires Historic Square Agency’s Western N.Y. Practice
Jun 7 2012 // Stahlka Agency, an independent insurance agency and member of the EMS Group, based in Williamsville, N.Y., acquired the Western New York practice of Erie, Penn.-based Historic Square Insurance Agency. Terms of the...
New York City at Greatest Financial Risk from Hurricanes: CoreLogic
Jun 7 2012 // When people think of hurricane damage they usually think of Miami or New Orleans, but a new report suggests the greatest financial risk of all may be much farther north: the greater New York City area. Data analysis firm...
BMS Group Exec Joins New York-Based U.S. RE as Senior VP
Jun 6 2012 // Pearl River, N.Y.-based global reinsurance broker U.S. RE Corporation appointed Victor Marques as senior vice president. U.S. RE said Marques brings more than 25 years in the field to his new role at the company’s...
Claims Against MF Global’s Corzine, Other Executives May Depend on Insurance
Jun 5 2012 // Jon Corzine failed to address MF Global Holdings Ltd.’s growing liquidity needs as he tried to build the commodities broker into a global investment powerhouse, helping create the conditions that led to its downfall,...
Global Downturn Puts Investors, Companies in Retreat
Jun 5 2012 // Gripped by fears that Europe’s debt crisis is driving the world economy into a ditch, companies are delaying plans to raise capital and canceling deals, while investors are taking refuge in cash or any other place...
William Gallagher Exec Joins First Niagara Risk Management in New York
Jun 4 2012 // First Niagara Risk Management, the Buffalo, N.Y.-based insurance brokerage subsidiary of First Niagara Bank, appointed Kirk Jensen as managing director and senior executive. Jensen’s 25-year career in the insurance...
Business Moves – East
Jun 4 2012 // W.R. Berkley Greenwich, Conn.-headquartered W. R. Berkley Corp. announced that it formed a new marine division of its Berkley Offshore Underwriting Managers operating unit. Through its New York office, Berkley Offshore...
N.Y. Comp Insurance Rating Board Seeks 11.5% Rate Hike
Jun 4 2012 // The New York Compensation Insurance Rating Board (NYCIRB) submitted to the Department of Financial Services on May 17 a loss-cost filing for an overall average loss cost change of +11.5 percent. The change in loss cost...
People – South Central
Jun 4 2012 // Richard Knabb, the tropical weather expert at The Weather Channel, will be the next chief of the National Hurricane Center. Knabb started working at the hurricane center in 2001. He was a senior hurricane specialist at the...
How States Rank Injury Prevention
Jun 4 2012 // When it comes to preventing injury, California and New York states rank the highest. 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...
N.Y. Holds Hearings on ‘Force-Placed’ Insurance
Jun 4 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...
People – Southeast
Jun 4 2012 // Sarasota, Fla.-headquartered property/casualty insurer FCCI Insurance Group (FCCI) recently expanded into Maryland and has hired Jeanine Ferritor as a senior marketing underwriter to develop FCCI’s independent agency...
Feds Shut Down 26 Bus Operators in Safety Crackdown
Jun 1 2012 // Twenty-six bus operations that transported more than 1,800 passengers a day along Interstate 95 between New York and Florida have been closed for safety violations in what federal officials say is the government’s...
