Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
New York Agents Plan Court Appeal over Pay Disclosure Rules
Dec 23 2010 // Two New York agents’ groups said they have taken the first steps to appeal a decision by state court judge allowing state insurance regulators to force brokers to reveal their commissions. The Independent Insurance...
AIG to Pay States $146 Million In Workers Compensation Settlement
Dec 23 2010 // American International Group Inc. (AIG) has agreed to pay $146.5 million in fines and additional taxes to state insurance regulators for alleged under-reporting of premiums to states more than a decade ago. The company...
New York Suit Against Ernst & Young Fills Regulatory Gap
Dec 23 2010 // In choosing Ernst & Young as his target in the aftermath of the Lehman Brothers collapse, New York Attorney General Andrew Cuomo filled what looks destined to be a permanent gap in regulators’ responses to the...
Insurance Year in Review: East Edition
Dec 23 2010 // The touchy subject of agents’ commissions dominated headlines in 2010 — particularly in New York where regulators unveiled new rules that will force agents to reveal to clients how much they are paid. That...
SPECIAL REUTERS REPORT: Inside AIG’s Tortuous Turnaround
Dec 22 2010 // During a rainstorm in Washington in early 2009, amid the furor over Wall Street’s post-bailout bonuses, an American International Group employee pulled out an umbrella that had the insurer’s name on...
New York Suit Accuses Ernst & Young of Hiding Lehman Troubles
Dec 22 2010 // Accounting firm Ernst & Young was sued by New York prosecutors over allegations it helped to hide Lehman Brothers’ financial problems, in the first major government legal action stemming from the Wall Street...
New York May Sue Accountant Over Lehman Collapse
Dec 21 2010 // A possible civil fraud case against Ernst & Young LLC over its role in the collapse of Lehman Brothers could be the biggest government attack on an accounting firm since the collapse of Arthur Andersen over the Enron...
U.S. Treasury’s AIG Fix-It Man Ready for Next Assignment
Dec 21 2010 // Jim Millstein is no stranger to troubled companies. With a long career as a bankruptcy lawyer and former head of Lazard Ltd’s restructuring practice, he’s done his share of turnarounds. But nothing prepared him...
New York Says Village Endangered Workers Before Deaths
Dec 20 2010 // The state says a New York City suburb endangered two employees who suffocated in a manhole by not providing proper training or equipment. The village of Tarrytown was issued four violations of safety laws. Two were...
Federal Tax Case Leads to Workers’ Comp Fraud Charges in New York
Dec 15 2010 // A federal tax fraud case against a Bronx tax preparer touched off a workers’ comp fraud case against the woman who is now charged with wrongly collecting over $135,000 in benefits, officials said. Rosa Rivera has...
XL Makes New Appointments to Construction Practice
Dec 14 2010 // Insurer XL has made eight new appointments to its North American Construction team. Gregory P. McKiernan will serve as senior vice president of Construction Primary Casualty, based in New York. He most recently served as...
Insurance, Sports Pros Gather at Tri-State Charitable Foundation Dinner
Dec 9 2010 // More than 800 insurance professionals from the tri-state area and two All-Star athletes channeled their competitive energies last night to raise $1.1 million for charities. The New York division of the Insurance Industry...
Brown & Brown Acquires Ladd’s Agency
Dec 9 2010 // Insurance broker Brown & Brown has acquired the assets of Ladd’s Agency, an Upstate New York-based insurance agency owned by Alliance Financial Corp. Ladd’s, with annual revenue of roughly $1.4 million, has...
New York Prosecutor Faces $75M Defamation Suit
Dec 8 2010 // An upstate New York prosecutor who charged a Florida pharmacy in 2007 with selling anabolic steroids to pro athletes and entertainers is being sued for $75 million by the pharmacists, who claim defamation and false arrest...
Ex-Superintendent Dinallo Joins New York Law Firm
Dec 6 2010 // Eric Dinallo, former superintendent of the New York Insurance Department, is joining the law firm Debevoise & Plimpton as a partner. Dinallo, who lost the state democratic primary nomination for attorney general...
People
Dec 5 2010 // Massachusetts agency Provider Insurance has hired Sharon Cardoso as personal lines account manager. She will be responsible for acquiring new clients and expanding existing client accounts in the personal lines division...
New York Agents Lose Court Battle over Compensation Disclosure
Dec 5 2010 // New York agents failed to make their case that insurance regulators cannot require agents and brokers to disclose their commissions, a Supreme Court judge has ruled. That decision by Supreme Court Justice Richard M....
New York Eases Some Workers’ Compensation Policy Rules
Dec 5 2010 // New York has eased some workers’ compensation insurance requirements for out-of-state businesses that do only occasional, non-construction work in the Empire State. The rule change comes after years of lobbying by...
People
Dec 5 2010 // Aon Corp. reported that Andrew Appel, the firm’s chief operating officer, will be leaving the company at the end of the year. The company said there are no plans to fill the position upon Appel’s...
New York Plans to Reduce Red Tape in Insurance Filings
Dec 3 2010 // The New York Insurance Department said it implement recommendations aimed at streamlining and improving the process for insurers to file their rates and forms with regulators. The recommendation comes from a new report by...
