Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
Fidelity National Sells Flood Insurance Business
Jul 13 2011 // Title insurer Fidelity National Financial Inc. has sold its flood insurance operations to WRM America Holdings LLC. Under the terms of the definitive agreement, WRM America of Uniondale, New York, will acquire 100 percent...
Texas Enforcements for May Include Nearly $218K in Fines, Restitution
Jul 12 2011 // Enforcement actions taken by Texas Insurance Commissioner Mike Geeslin that became final during May 2011 include six license revocations, two license denials and fines and restitution totaling $217,756. An order imposing...
California Completes Majestic Insurance Transfer to AmTrust
Jul 11 2011 // California Insurance Commissioner Dave Jones announced on July 8 the “successful implementation” of a court-approved rehabilitation plan for Majestic Insurance Co., a plan that has been opposed by New York...
Alterra Bermuda Approved for Reduced Collateral Status in New York
Jul 8 2011 // Alterra Capital Holdings Limited announced that the State of New York Insurance Department has approved Alterra Bermuda Limited “as an eligible reinsurer for reduced collateral status, which allows lower collateral...
Carr Named Operations Leader for Integro’s Atlanta Office
Jul 6 2011 // Integro, a New York-based insurance brokerage and risk management firm, has announced that Andrew Carr has been named operations leader of its Atlanta office. He succeeds Frank Kinnett, who will assume the role of chair of...
People
Jul 4 2011 // Anthony A. Ambrose has been promoted to vice president and senior broker at New York-based wholesale broker Russell Bond. Ambrose joined Russell Bond in 1994 and is currently responsible for financial institutions, medical...
New York Mets: We Didn’t Shop for Madoff Ponzi Insurance
Jul 4 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,...
New York City Fixes Contractor Insurance Rule
Jul 4 2011 // Insurance agents welcomed a decision that will make it easier for contractors to meet New York City’s insurance requirements. The New York City Department of Buildings has promised to modify its general liability...
New York Deregulates Large Commercial Lines
Jul 4 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...
Web Exchange
Jul 4 2011 // IJ Video Highlights Consolidation Nation Later this year the New York State Department of Insurance will complete its merger with the state’s banking department to become the New York State Department of Financial...
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...
