Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
N.Y. Officials Target Safety on Dangerous Roadway in Nassau County
May 9 2012 // Safety upgrades are planned for a New York highway that has averaged five pedestrian deaths annually since 2005. Officials in Nassau County are targeting repainted crosswalks, increased signal time for walkers, and...
Reinsurance Fraud Case Against AIG Ex-CEO Greenberg Going to Trial
May 9 2012 // A New York appeals court on Tuesday gave former American International Group Inc. Chief Executive Maurice “Hank” Greenberg a partial victory in the state’s fraud lawsuit against him over two suspect...
ACE Westchester Appoints VP in New York
May 8 2012 // ACE Westchester, the U.S.-based wholesale-focused insurance division of the ACE Group, appointed Richard Luca as vice president of management liability for its professional risk division. He is based in the greater New...
Deadly Crash in Bronx Raises Concerns About New York’s Aging Roadways
May 8 2012 // A freak parkway accident that wiped out three generations of a Bronx family late last month is being touted by some transportation advocates as more evidence that New York City’s aging highway system needs major...
Probe Finds N.Y. Paid Prison Inmates Improper Workers’ Comp Benefits
May 7 2012 // An investigation from the New York State comptroller’s office found that the State Insurance Fund improperly paid seven inmates more than $36,000 in workers’ compensation benefits while they were in state...
Business Moves – East
May 7 2012 // Worldwide Facilities, Privett Worldwide Facilities, a Los Angeles-based independent surplus-lines broker and managing general agency, acquired assets of Privett Special Risk Services, a New York City-based...
People – East
May 7 2012 // Marsh & McLennan Companies Inc. said Alexander Moczarski, CEO of Guy Carpenter, has assumed the additional role of chairman at Marsh & McLennan Companies International. Moczarski will continue to be based in New...
Hartford Reaches Settlement Over AD&D Policies
May 7 2012 // Hartford Life Insurance Company, a subsidiary of The Hartford Financial Services Group, agreed to give $24 million in premium credits to some 300,000 New York residents who bought the company’s accidental death and...
N.Y. Court Ruling May Open Door for More Asbestos Suits Against Pfizer
May 7 2012 // A New York federal appellate court ruling last month could allow more asbestos liability suits to proceed against pharmaceutical giant Pfizer. The appellate court’s decision affirms the previous ruling last year from...
In East Region, Insurance Sector Hiring Is ‘Slightly Elevated’ in 2012
May 7 2012 // The insurance employment market in the East and Northeast regions — as in most other parts of the country — can be summed up the following way: hiring is “slightly elevated” compared to last year, but there...
N.Y.-Based Alleghany Acquires Stake in Manufacturing Firm Bourn & Koch
May 4 2012 // New York-based global specialty insurer Alleghany Corporation said its investment management unit acquired a majority stake in manufacturing firm Bourn & Koch. Terms of the transaction were not disclosed. Alleghany,...
Best Affirms, Upgrades SCOR’s No. American Subs Ratings; Outlook Stable
May 4 2012 // Following its rating actions on the parent company, France’s SCOR SE, A.M. Best has upgraded the issuer credit ratings (ICR) to “a+” from “a” and affirmed the financial strength rating (FSR)...
Former Aon Executive Named as CEO of N.Y.-Based Reinsurer Southport Re
May 2 2012 // New York-based reinsurance holding company Southport Re appointed Glenn Weber to the newly created position of chief executive officer. Southport Re is part of New York-based private equity firm Southport Lane. Glenn Weber...
New York Proposes New Rule to Crack Down on No-Fault Insurance Fraud
May 2 2012 // New York State regulators are expanding their effort to stop no-fault auto insurance fraud. The New York Department of Financial Services announced on Tuesday a new draft regulation, Regulation 68, that would make it...
Former N.Y. Agents Sentenced to Jail for Swindling Elderly Clients
Apr 30 2012 // New York regulators said two former insurance agents who pled guilty to swindling $400,000 from elderly clients by fraudulently changing beneficiary information on annuity contracts have been sentenced to jail time and...
N.Y. Regulators to Hold Hearings on Force-Placed Insurance in May
Apr 26 2012 // New York’s financial regulators will hold hearings on the so-called force-placed insurance next month. These hearings will be open to the public and will also be webcast over the Internet. Benjamin Lawsky,...
New York, Florida Associates of ‘Mini-Madoff’ Arrested
Apr 26 2012 // Four associates of a New York businessman convicted in a $400 million Ponzi scheme were arrested Wednesday on charges they pocketed nearly $38 million in commissions for their efforts in advancing the fraud, federal...
Goldman Must Defend Bond Insurer’s Fraud Claims
Apr 25 2012 // Goldman Sachs Group Inc. must defend fraud claims brought by a bond insurance company over its notorious Abacus mortgage product deal, a New York state judge ruled, but she decided that the investment bank did not unjustly...
N.Y. Gov. Cuomo Says Life Insurers Paid Over $262M After Probe
Apr 24 2012 // New York Gov. Andrew Cuomo said this week that a regulatory investigation into how insurers tracked life insurance policyholders resulted in 32,715 payments to consumers nationwide. The overall amount paid by insurers is...
N.Y. Gov. Cuomo Announces Storm Aid for L.I. Counties
Apr 24 2012 // New York Gov. Andrew Cuomo said the state is providing $8.5 million to Nassau and Suffolk counties on Long Island. The money will be used to pay expenses from damage done last year by Hurricane Irene and Tropical Storm...
