Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
Court Upholds Travelers vs. Reinsurers in Asbestos Award
Feb 6 2012 // A New York appellate court affirmed last month a $420.4 million ruling in favor of insurer The Travelers Companies, handing it a victory in one of the longest-running and most complex asbestos-related litigations in...
Paying for Insurance Fraud
Feb 6 2012 // There has been a lot of auto insurance fraud news in recent months, with stories of scam artists going after big payouts from insurance companies. In New York State, such fraud is raising the auto insurance cost for many...
Allstate Doubles Q4 Profit
Feb 2 2012 // Allstate Corp. reported that its profit more than doubled in the fourth quarter thanks to lower catastrophe losses and improved homeowners business. The big insurance company posted a fourth quarter net profit of $724...
Kodak Employee Sues Company Directors Over Stock
Feb 2 2012 // An Eastman Kodak employee filed a civil lawsuit against Kodak’s board members and other fiduciaries of the photography companies’ retirement plans, saying they breached their duties as the company was spiraling...
Union Mutual of Vermont Companies Appoints VP of Underwriting
Jan 27 2012 // Union Mutual of Vermont Companies has appointed Robert Glass as the vice president of underwriting. Robert Glass Glass comes to Union Mutual with 24 years of insurance experience, most recently with The Hartford Insurance...
Ground Zero Building in New York Struggles to Find Tenants
Jan 27 2012 // Planners say an 80-story skyscraper under construction at ground zero may have to stop at seven stories unless the developer can line up more tenants. Silverstein Properties said this week that it is still looking for...
U.K.-based Broker BMS Group Opens New York Office
Jan 26 2012 // The U.K.-based broker BMS Group said it has opened an office in New York City. BMS Group CEO Carl Beardmore The firm said the Park Avenue office in Manhattan will be the base of Group CEO Carl Beardmore, who will now be...
N.J., N.Y. Have Worst Tax Climates for Business, Report Says
Jan 26 2012 // New Jersey and New York have the worst tax climates in the nation for business, according to a new report by the Tax Foundation,a Washington, D.C.-based research firm. Two other Northeastern states, Vermont and Rhode...
Court Upholds Travelers vs. Reinsurers in Big Asbestos Award
Jan 25 2012 // A New York appellate court affirmed a $420.4 million ruling in favor of insurer The Travelers Companies, handing it a victory in one of the longest-running and most complex asbestos-related litigations in history. The...
N.Y. Program Lets Uninsured Artists Exchange Art for Medical Services
Jan 24 2012 // A new program lets uninsured New York City artists exchange their art for medical services. Tony-Award winning actor Lin-Manuel Miranda and rapper and radio personality Roxanne Shante helped launch the “Lincoln Art...
Declarations
Jan 23 2012 // A Lot to Be Proud of “We have a lot to be proud of as an industry in the way we performed in 2011. We weathered the financial storm that came together both in terms of the economy and the extraordinary loss...
People
Jan 23 2012 // Woodbury, N.Y.-based Sterling & Sterling appointed Leslie Nylund as president of the insurance brokerage. Nylund will be responsible for the firm’s operations, including sales, employee benefits, client services...
N.Y. Says Worker Injured on Break Entitled to WC Benefit
Jan 23 2012 // A New York court has ruled that a worker taking a short break does not constitute an interruption of employment, thus a worker injured during such a break is entitled to workers’ comp benefits. The Appellate Division...
Virginia, New Jersey Get High Marks in Building Code Report
Jan 23 2012 // The Insurance Institute for Business & Home Safety, an industry group, issued a new report this month that analyzes residential building codes in the 18 hurricane-prone coastal states along the Gulf of Mexico and the...
Auto Insurance Claim Costs Rising Again
Jan 23 2012 // Auto insurance claim costs countrywide have recently increased, reversing previous trends of declining or relatively stable costs, a recently released study found. An Insurance Research Council (IRC) report, “Trends...
Jay-Z Cleared of N.Y. Workers’ Comp Board Charge, Judgment Vacated
Jan 23 2012 // Jay-Z may have 99 problems, but missing workers’ comp insurance payments isn’t one of them. The previous judgment against the popular rapper and the court-ordered $18,000 fine have been reversed, according to...
N.Y. Examines Banks for Force-Placed Insurance
Jan 23 2012 // New York financial regulators are reportedly investigating several major banks to find out whether they fraudulently steered homeowners into more expensive home insurance. According to The New York Times, the office of...
N.Y.-based Navigators Group Adds Professional Liability Reinsurance Unit
Jan 20 2012 // Rye Brook, N.Y.-based specialty insurer The Navigators Group said this week that its principal underwriting agency subsidiary, Navigators Management Company, expanded its Navigators Re division by launching a professional...
Lawsuit Filed Over 2008 Outbreak at Six Flags New York Water Park
Jan 20 2012 // Some of the more than 600 people who fell ill while visiting an upstate New York indoor water park are part of a class-action lawsuit filed against the business. The Post-Star of Glens Falls reports that the lawsuit was...
New York Judge Drops Binladen Group as 9/11 Defendant
Jan 13 2012 // A Manhattan judge has dismissed a construction company founded by Osama bin Laden’s father as a defendant in Sept. 11 lawsuits brought by families of terrorism victims and others. Judge George Daniels dismissed the...
