Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
MBIA May Bring Fraud Claim Against Bank of America’s Countrywide
Jul 1 2011 // MBIA Inc. may pursue a lawsuit accusing Bank of America Corp.’s Countrywide Financial unit of fraudulently misleading it about mortgage securities it insured, costing at least $1.4 billion. A New York state appeals...
New York’s Schirick Brokerage Merges with Bollinger
Jun 29 2011 // Schirick & Associates Insurance Brokers Inc. of Monticello, New York, which specializes in insuring camps, sports and recreation associations and other non-profit organizations, has merged with Bollinger Inc. Ed...
The Top States, Cities for Questionable Insurance Claims
Jun 28 2011 // Five states—California, Florida, Texas, New York and Michigan—generate almost half of all suspicious claims to property/casualty insurance companies, a new report says. These states account for 49 percent of all...
Court Revives Banks’ Suit Against Bond Insurer MBIA
Jun 28 2011 // New York’s highest court Tuesday revived a lawsuit by several large banks challenging bond insurer MBIA Inc.’s 2009 restructuring, which they complained was unfair to policyholders. MBIA shares fell as much as...
Crashes Increase at New York State’s Roundabouts
Jun 28 2011 // Drivers entering a roundabout who fear they’re about to crash are not paranoid. Although the rotaries are built to ease congestion and lessen serious injuries, data obtained by the Albany Times Union show the number...
New York Offers Self-Service Printing of Insurance Licenses
Jun 28 2011 // Insurance agents, brokers and other licensees of the New York State Insurance Department are now able to obtain and print copies of new and renewed licenses by accessing a self-service feature on the department’s Web...
New York, Swiss Insurance Authorities Sign Cooperation Pact
Jun 27 2011 // The New York State Insurance Department and the Swiss Financial Market Supervisory Authority (FINMA) have agreed to a memorandum of understanding allowing for closer cooperation between the two regulatory bodies. The...
New York Approves Deregulation of Large Commercial Insurance Products
Jun 24 2011 // New York insurers and insurance agents are applauding lawmakers for giving final approval to a bill that eases regulations on commercial insurance products and rates. The bill exempts insurance policies written for large...
Allstate Seeks to Recover $1 MiIlion in New York Fraud Lawsuit
Jun 24 2011 // Allstate Insurance is seeking to recover more than $1 million against 10 New York area defendants it alleges filed fraudulent claims for psychological services. The lawsuit seeks reimbursement for personal injury...
New York City Police Officer’s Horse Suit Dismissed
Jun 24 2011 // A judge has reined in a New York City’s police officer’s lawsuit against the city over a mishap on horseback in 2004. A Manhattan judge dismissed William Rozakis’ case this week. Rozakis says the horse...
New York City Fixes Contractor Insurance Rule After Agents Sound Alarm
Jun 23 2011 // New York insurance agents are welcoming a decision by a New York City government agency that they say will make it easier for contractors to meet the city’s insurance requirements. The New York City Department of...
Law Firm Spent $7 Million to Sue Wal-Mart
Jun 22 2011 // Joseph Sellers is in the hole by about $7 million and does not expect to dig his way out any time soon. As lead counsel to the plaintiffs in the Wal-Mart Stores Inc. employment discrimination lawsuit tossed out by the...
Court Says Suit Can Proceed over WTC Tower Collapse
Jun 22 2011 // The Port Authority of New York and New Jersey can be sued for negligence over the collapse of a World Trade Center building in the Sept. 11 attacks in 2001, a U.S. appeals court ruled Tuesday. The agency is one of the most...
New York Mets: We Didn’t Shop for Madoff Ponzi Insurance
Jun 21 2011 // Owners of the New York Mets pro baseball team rejected allegations in a $1 billion lawsuit that they once shopped for fraud insurance to insulate themselves from Ponzi schemer Bernard Madoff. Fred Wilpon and Saul Katz,...
Konstantinidis Picked to Lead Swett & Crawford’s New Houston Office
Jun 21 2011 // Swett & Crawford has opened an office in Houston, Texas, headed by Senior Vice President and Property Specialist John Konstantinidis. Konstantinidis has relocated from Swett’s New York office to Houston. Swett...
Agents Warn of Insurance Complications for New York City Contractors
Jun 20 2011 // Insurance agents are warning contractors in New York City that they may not be able to obtain increased coverage requirements called for by city regulations set to go into effect this month. Many of those new coverages are...
New York Health Insurance Exchange Bill Preserves Agents’ Role
Jun 20 2011 // New York agents are cheering a new State Senate bill that that would guarantee a role for agents and brokers in the state’s health insurance exchange. A bill introduced this month by Sens. James L. Seward (R-Milford)...
Court Approves Majestic Insurance Rehabilitation Plan
Jun 20 2011 // A San Francisco Superior Court has approved California Insurance Commissioner’s rehabilitation plan for Majestic Insurance Co., a failed workers’ compensation insurance carrier. Under the plan, Majestic’s...
Ohio Workers’ Comp Bureau Caught in Pensions’ Currency Dispute
Jun 16 2011 // Ohio Treasurer Josh Mandel has asked for a state investigation into whether banks may have manipulated foreign exchange rates charged to Ohio pension funds and the state’s injured worker insurance, potentially...
Hayes Named Chief Exec Deputy Director at NYSIF
Jun 16 2011 // Dennis J. Hayes has been appointed chief executive deputy director of the New York State Insurance Fund (NYSIF). Hayes has 29 years experience as an attorney specializing in insurance, reinsurance and receivership matters....
