Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
File-Sharing Service LimeWire, Music Publishers Settle Copyright Case
Mar 8 2011 // The operator of LimeWire, a once-popular file-sharing service shut down last year for copyright infringement, has settled a lawsuit brought by music publishers. The settlement with Lime Wire LLC covers more than 30...
U.S. Judge Halts Ecuador Damages Enforcement Against Chevron
Mar 8 2011 // A U.S. judge Monday halted enforcement of an $18 billion award against Chevron Corp, siding with the oil company against Ecuadorean plaintiffs in a long-running dispute over Amazon rain forest pollution. The move comes...
People
Mar 7 2011 // Jennifer McPhillips has been promoted to senior director of federal government affairs for the Independent Insurance Agents & Brokers of America (the Big “I”) and will serve as one of the...
New York Drivers Will Get Points for Talking on Cell Phones
Mar 7 2011 // New York drivers who are caught talking on their cell phones without a headset will gain two points on their driving records — which means higher insurance costs. Previously, no points were assigned for talking on a cell...
Feds Eye New York Scaffold Collapse that Ended in Rescue
Mar 7 2011 // Federal investigators are looking into why scaffolding collapsed at a high-rise building in a suburb of New York City, leaving two workers dangling by their safety ropes until they were rescued by a...
Aon Adds Three Execs in Tri-State Region
Mar 4 2011 // Aon Risk Solutions added three new execs to its Greater New York business development team. Sonia Pollock and Michael D. Lezynski join Aon as senior vice presidents, and Christine Moran joins as a managing...
New York City Obstetricians Face Insurance Cutoff
Mar 2 2011 // A malpractice insurance company has threatened not to renew coverage for eight Bronx obstetricians who treat poor, high-risk patients. The New York Times reports that Medical Liability Mutual Insurance Company issued the...
MBIA Shareholder Lawsuit Revived by Federal Appeals Court
Mar 1 2011 // A federal appeals court on Monday gave new life to a shareholder lawsuit accusing MBIA Inc of securities fraud over a reinsurance transaction that caused the bond insurer to restate six years of results. The 2nd U.S....
Allstate Sues Another Lender, Credit Suisse, Over Mortgage Securities
Mar 1 2011 // Allstate Corp. on Monday sued Credit Suisse Group AG, accusing the Swiss bank of causing losses by hiding the risks on $232 million of mortgage securities it bought. Allstate, the largest publicly traded U.S. home and auto...
New York Gov.’s Budget Details Banking, Insurance Regulation Merger
Feb 24 2011 // New York Gov. Andrew Cuomo’s proposed state budget contains slightly more money for the new agency he wants to create by combining existing banking and insurance regulatory departments than they now...
ACE USA Appoints Hurley, Kubursi in New York Region
Feb 24 2011 // ACE USA, the U.S.-based retail operating division of the ACE Group, has appointed Andrew Hurley as chief operating officer of its New York region. In this new role, Hurley will assist in executing the regional business...
New York Suit Against Accountant Over Lehman Takes Detour
Feb 24 2011 // New York state regulators face their first test soon in their accounting fraud lawsuit against Ernst & Young LLP over its role as auditor for Lehman Brothers Holdings Inc. The first major government legal action...
Former New York Insurance Regulator Tapped as Special Prosecutor
Feb 23 2011 // A New York district attorney is seeking a special prosecutor to investigate possible wrongdoing at a now-closed crime lab. Nassau County District Attorney Kathleen Rice says she will ask court approval to appoint Eric...
New York Man Arrested for Insuring 18 Unlicensed Family Members
Feb 23 2011 // A Middletown man who thought he was doing favors for unlicensed family members and friends by registering and insuring their cars was arrested for falsifying business records, the New York State Insurance Department...
Allstate Sues Citi, Deutsche Bank Over Mortgage Securities
Feb 22 2011 // Allstate Corp. sued Citigroup Inc. and Deutsche Bank AG, accusing the banks of causing losses by hiding the risks on more than $385 million of mortgage securities it bought. Allstate, the largest publicly traded U.S. home...
Workers’ Compensation History: The Great Tradeoff!
Feb 21 2011 // Pirates of the 18th century and a 19th century German “Iron” Chancellor preceded the United States in the creation of a social system for the protection of injured workers. The modern U.S. workers’...
Figures
Feb 21 2011 // 48 Number of new captives insurers formed in Delaware last year, doubling the state’s total to 96 captives, according to state regulators. Steve Kinion, director of the state’s Captive Bureau, said the growth...
New York Lawmakers Propose Easing Some Insurance Regulations
Feb 21 2011 // The New York Senate Committee on Insurance has begun hearing on legislation that would extend insurance agents’ license renewals, allow multiple rating plans for personal lines insurers and clarify laws about...
Business Moves
Feb 21 2011 // Glens Falls, Upstate Agency New York-based Glens Falls National Bank and Trust has acquired Upstate Agency Inc., a property and casualty insurance agency with eight offices in New York. Terms of the transaction were not...
Industry Has Big Legislative Goals for 2011
Feb 21 2011 // Just as state lawmakers forge ahead with new legislative goals for 2011, the insurance industry, agents and their lobbyists are doing the same across much of the Northeast. Some states have already seen and continue to see...
