Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
New York Mets Owners Settle in Madoff Case, Avoid Trial
Mar 19 2012 // The owners of the cash-strapped New York Mets baseball team agreed to pay $162 million to settle a lawsuit by the trustee seeking money for the victims of Bernard Madoff’s fraud, averting a potentially embarrassing...
N.Y. Reaches Settlement With Insurer on Lead Screening
Mar 19 2012 // New York Attorney General Eric Schneiderman says his office has reached a settlement with Excellus BlueCross BlueShield that requires the health insurer to process claims for routine childhood screenings for lead and...
Business Moves
Mar 19 2012 // Golden Bear Stockton, Caif.-based Golden Bear Insurance Co. has opened its first office in the Pacific Northwest. The new office is in Edmonds, Wash. It was opened by Golden Bear Vice President Carl Heckman and his team,...
W.C. Surcharge Cost Burdens N.Y. Employers
Mar 19 2012 // The assessment surcharge tacked onto workers’ comp costs for New York employers is becoming a burden for businesses, a new study says. The surcharge in New York State is 20.2 percent – more than double that of...
N.Y. Workers’ Comp Board Embraces E-Claims
Mar 19 2012 // The New York State Workers’ Compensation Board will move from a paper filing system to an electronic system for the employer reports of injury, starting early next year. The Board will use the IAIABC (International...
N.Y. Unveils Plan to Shut Down Fraud Docs, Medical Mills
Mar 19 2012 // Dishonest doctors and medical mills in New York better watch out! Following highly publicized crackdowns of major auto insurance fraud rings in the state, Gov. Andrew Cuomo unveiled a statewide initiative this month to...
Court Upholds N.Y. Brokers Disclosure Regulation
Mar 19 2012 // Earlier this month, an appeals court in New York agreed with the lower court’s ruling and said the insurance regulators have the authority to require brokers to disclose the source of their compensation. The rule,...
Business Moves
Mar 19 2012 // Alleghany, Transatlantic Global specialty insurer Alleghany Corporation completed its previously announced acquisition of reinsurer Transatlantic Holdings. Both companies are headquartered in New York. With the...
N.Y. Agents Tell Senate Panel of Flood Insurance Claims Hassles
Mar 16 2012 // A director of the Independent Insurance Agents & Brokers of New York told lawmakers and regulators this week that New Yorkers are dealing with unnecessary hassles when they make flood insurance claims. William Oliver...
MBIA Reportedly Ready to Settle with UBS Over Restructuring
Mar 16 2012 // UBS AG has agreed to settle litigation against MBIA Inc. that challenged the bond insurer’s 2009 restructuring, people familiar with the matter said on Thursday. The UBS settlement calls for credit-default swaps to...
RIMS Commends N.Y. Broker Compensation Disclosure Ruling
Mar 15 2012 // The Risk & Insurance Management Society is applauding the New York appeals court for upholding the broker disclosure rule. “Consumers deserve the same transparency and information from their insurance brokers...
N.Y. Court Enforces Flood Insurance Policy’s Proof-of-Loss Requirement
Mar 15 2012 // A New York appeals court recently affirmed a lower court’s ruling that a homeowner was not entitled to coverage under the policy from the National Flood Insurance Program because he failed to follow the proof-of-loss...
N.Y. Unveils Plan to Shut Down Fraud Docs, Medical Mills
Mar 14 2012 // Dishonest doctors and medical mills in New York better watch out! Following highly publicized crackdowns of major auto insurance fraud rings in the state, Gov. Andrew Cuomo unveiled a statewide initiative this month to...
N.Y.-based Sterling & Sterling Appoints Senior VP
Mar 13 2012 // Sterling & Sterling appointed industry veteran Betsy Good to the newly created position of senior vice president, director of strategy. Betsy Good In her new role, she will be responsible for identifying and...
16 Arrested in Brooklyn, N.Y., for Allegedly Staging Auto Accidents
Mar 9 2012 // Sixteen people in Brooklyn, N.Y., have been arrested for their roles in allegedly staging auto accidents to fraudulently receive insurance payouts. New York State Attorney General Eric Schneiderman announced the arrests on...
N.Y. Report Identifies Region’s Most Dangerous Roads for Pedestrians
Mar 9 2012 // The Tri-State Transportation Campaign, a policy watchdog group based in New York, released its annual report listing the region’s most dangerous roads for pedestrians. The report analyzed federal data from 2008 to...
Insurance Company Asks: Do Powell Siblings Get Money?
Mar 9 2012 // A life insurance company has asked a judge to decide whether any of Josh Powell’s relatives are entitled to collect on a $1.5 million policy after he killed himself and his two sons in a Washington house fire last...
N.Y. Financial Services Staff Visit Neighborhoods Hit by Foreclosures
Mar 7 2012 // Mortgage foreclosure prevention specialists from New York State Department of Financial Services will visit a New York City neighborhood that has been hard-hit by a spate of home foreclosures. The prevention specialists...
FAA Seeks Fines Against Colgan Air Over New York Crash
Mar 6 2012 // Colgan Air failed to provide adequate rest breaks for crews on some flights within seven months of a 2009 crash near Buffalo, New York, that killed 50 people and raised questions about tired pilots, regulators said on...
N.Y. Workers’ Comp Board Moving to Electronic Claims Reporting
Mar 5 2012 // The New York State Workers’ Compensation Board is transitioning from a paper to an electronic employer report of injury system. The board will adopt the IAIABC (International Association of Industrial Accident Boards...
