Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
Ruling Boosts Bond Insurer MBIA’s Fraud Suit Against BofA’s Countrywide
Jan 4 2012 // A New York state judge made it easier for the bond insurer MBIA Inc. to pursue its $1.4 billion lawsuit accusing Bank of America Corp.’s Countrywide Financial unit of fraudulently inducing it to insure risky...
New York City Helps Upstate Towns Prepare for Future Floods
Jan 2 2012 // The catastrophic flooding from hurricanes Irene and Lee exposed planning gaps in small towns that can’t afford effective flood readiness plans. But in New York’s Catskill Mountains, partnership with New York...
Jay-Z Sued by Workers Compensation Board of New York
Dec 30 2011 // Workers Compensation Board of New York filed a lawsuit against rapper Jay-Z for allegedly failing to make workers’ comp payments worth $18,000 for his domestic employees, according to a report. Entertainment news...
New York Unions Sue State Over Retiree Health Insurance Costs
Dec 29 2011 // Unions representing state workers in New York have filed a federal lawsuit Wednesday against the Cuomo administration challenging an increase in health insurance contributions for thousands of retirees. According to the...
Auto Insurance Claim Costs Rising Again
Dec 28 2011 // Auto insurance claim costs countrywide have recently increased, reversing previous trends of declining or relatively stable costs. A new report from the Insurance Research Council (IRC), “Trends in Auto Injury...
Appeals Court Delays SEC-Citigroup Securities Fraud Case
Dec 28 2011 // The U.S. Securities and Exchange Commission won a delay in its securities fraud lawsuit against Citigroup Inc, as the regulator tries to appeal a judge’s decision to reject its $285 million settlement with the...
BNY Mellon Settles N.Y. Probe Involving Insurer’s Debt Security Sale
Dec 27 2011 // The Bank of New York Mellon Corp. will pay $1.3 million to three states to settle an investigation into manipulative trading of auction rate securities facilitated by employees at one of the company’s subsidiaries,...
New York Judge: Iran, Taliban, al-Qaida Liable for 9/11
Dec 27 2011 // A federal judge has signed a default judgment finding Iran, the Taliban and al-Qaida liable in the Sept. 11, 2001 terrorist attacks. Judge George Daniels in Manhattan signed the judgment last Thursday, a week after hearing...
Barclays Hires Insurance Chief for North America, Based in New York
Dec 22 2011 // Barclays Corporate appointed Karla Maloof as New York-based head of insurance for North America. In her new role, she will be responsible for developing and leading the regional strategy for the insurance sector. She will...
Brain-Damaged Woman to Get $7M From New York County
Dec 22 2011 // Erie County will pay $7 million to settle a lawsuit filed by a woman who suffered brain damage after she nearly drowned in a public pool two years ago. The Buffalo News reported on Wednesday that the payment will settle...
Allstate Files $6.3M Insurance Fraud Case Against 83 N.Y. Defendants
Dec 22 2011 // Allstate Insurance Company is seeking to recover $6.3 million against 83 New York area defendants in its seventh insurance fraud lawsuit of 2011. The complaint, filed under the Racketeer Influenced and Corrupt...
N.Y. Court: AG Enforcement Doesn’t Pre-empt Private Securities Suits
Dec 21 2011 // Enforcement by the state attorney general against securities fraud doesn’t pre-empt private common-law claims of negligence against investment companies, New York’s top court ruled Tuesday. The Court of Appeals...
Insurance Charity Foundation Raises $1.2M at This Year’s Charity Event
Dec 21 2011 // The Insurance Industry Charitable Foundation (IICF) New York/Northeast division had a packed charity dinner event this year. The event was held on Dec. 14 at the Waldorf-Astoria Hotel in New York. It drew more than 900...
New York, Federal Office to Cooperate in Mortgage Probes
Dec 20 2011 // New York and federal officials will cooperate in investigations of banks bundling mortgages into troubled securities that helped cause the 2008 Wall Street collapse. Attorney General Eric Schneiderman and Steve Linick, the...
Alliant Insurance Services Appoints Vice President in New York Office
Dec 20 2011 // California-based specialty insurance broker Alliant Insurance Services appointed Scott Ernst as New York-based vice president of T&H Brokers, a subsidiary. Ernst is an industry veteran, bringing more than 24 years of...
Maurice ‘Hank’ Greenberg Wins Leadership Award From Yale University
Dec 20 2011 // Maurice R. Greenberg, Chairman and CEO of Starr Companies, was awarded the Lifetime of Leadership Award from the Yale Chief Executive Leadership Institute, Yale School of Management. The Starr Companies chief received the...
XL Hires Another ACE Executive for Its New York Team
Dec 20 2011 // XL Group’s North America primary casualty group appointed industry veteran Jay Lefkowitz to a newly created position of head of U.S. risk management. Lefkowitz is based in New York and reports to Ken Riegler, who is...
Insurance Charitable Foundation Awards a Record Number of Grants
Dec 15 2011 // The Insurance Industry Charitable Foundation (IICF) New York/Northeast division awarded a record number of grants at its 2011 benefit dinner on Wednesday in New York City. In total, grants were awarded to 14 charitable...
N.Y. Consumer Report Accuses Insurers of Needlessly Raising Rates
Dec 15 2011 // A new consumer advocacy report is accusing P/C insurers of ‘colluding’ and needlessly raising commercial insurance rates at a time when U.S. businesses are still reeling from the slow economy. The report,...
XL Hires ACE Exec as N.Y.-based President of America Casualty Business
Dec 15 2011 // XL Group’s North America property/casualty unit hired Ken Riegler as president of its North America casualty group. He will be based in New York and report to Seraina Maag, XL chief executive for North America...
