Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
Workers’ Compensation Fees Would Cost New York Drivers, Insurers Warn
Nov 10 2010 // Proposed 30 percent increases in what medical providers in New York are paid for treating workers’ compensation injuries could have unintended consequences for the state’s motorists, an industry group has...
Bond Insurer Ambac Files for Bankruptcy
Nov 9 2010 // Ambac Financial Group Inc., which was the second-largest U.S. bond insurer before suffering huge losses on risky mortgages, filed for Chapter 11 bankruptcy Monday. The filing cements Ambac’s decline from a company...
Regulators Tell New York Agents How to Reveal Their Commissions
Nov 9 2010 // New York regulators have finalized guidelines for how agents and brokers are to reveal to clients their commissions, but at least one trade group says any changes to the rules thus far have been...
Ratings Roundup: Erie Group, Waco Fire & Casualty, Maya Assurance
Nov 9 2010 // A.M. Best Co. has commented that the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Erie Insurance Group and its members are unchanged following the...
Lawsuit Charges Room at New York’s Waldorf had Bedbugs
Nov 8 2010 // A Michigan couple has filed a lawsuit claiming their room at New York’s Waldorf-Astoria hotel was infested with bedbugs. Christine and David Drabicki charged in the lawsuit filed Thursday that they unwittingly...
Republicans Gain Control in State Houses
Nov 4 2010 // Republicans were not only victorious in the U.S. House but also in state houses across the country. Tuesday night’s GOP power will give the party its largest number of seats in state legislatures since the Great...
Starbucks Defeats New York Woman’s Tea Burn Lawsuit
Nov 3 2010 // A Manhattan woman has failed to persuade a U.S. appeals court that Starbucks Corp should be held liable for severe burns she suffered after spilling tea served in a double cup. The 2nd U.S. Circuit Court of Appeals upheld...
New York Woman Sues Waldorf Astoria over Bedbugs
Nov 1 2010 // A Long Island woman claims her one night at the Waldorf Astoria hotel has cost her $13,000 because her room was infested with bedbugs that came home with her. Susanne Igneri filed a lawsuit against the upscale Manhattan...
New York Man Sues Bumble Bee Tuna Alleging Mercury Poisoning
Nov 1 2010 // A suburban New York City man has filed a lawsuit that claims he got mercury poisoning from eating 10 cans of tuna a week. Lee Porrazzo, of White Plains, filed the suit against Bumble Bee Foods. He’s asking for...
New York Panel Hears Homeowners Reform Proposals
Nov 1 2010 // New York insurance regulators proposed a series of tweaks to the state’s coastal homeowners insurance market last month, but acknowledged it will probably be months before the state panel tasked with evaluating the...
Ex-AIG CEO Found Liable in 1 of 2 Reinsurance Transactions
Nov 1 2010 // A New York judge held former American International Group Inc. CEO Maurice “Hank” Greenberg liable for damages on a reinsurance transaction that state Attorney General Andrew Cuomo said helped the insurer hide...
Ex-Marsh Executives, Convictions Tossed, Sue for Bonuses
Oct 28 2010 // Two former Marsh & McLennan Cos. executives, whose criminal convictions in an insurance bid-rigging scheme were thrown out, sued their former employer, accusing it of depriving them of stock bonuses and severance. In a...
ACE to Acquire New York Life’s Operations in Hong Kong and Korea
Oct 27 2010 // ACE Limited announced that it has signed a definitive agreement to acquire New York Life’s Hong Kong and Korea life insurance operations for approximately $425 million in cash. ACE said the deal would expand its life...
Group: New York City Building Industry Still Slowing
Oct 27 2010 // A business group says the economic downturn is still having an effect on New York City’s construction industry — a key driver for commercial insurance spending in the region. The New York Building Congress says...
Nationwide Tops List of Least-Complained About Insurers in New York
Oct 26 2010 // Insurer Nationwide is the least-complained about personal auto insurer in New York’s $10 billion auto insurance market, according to newly released ranking of 167 companies by the state’s Insurance...
AIG CEO Benmosche Battling Cancer
Oct 26 2010 // American International Group Inc. Chief Executive Robert Benmosche appears to be taking on one of the toughest battles of his life in his inimitable scrappy style. AIG said Monday that its 66-year-old CEO had cancer and...
Ex-AIG CEO Found Liable in 1 of 2 Reinsurance Transactions
Oct 25 2010 // A New York judge held former American International Group Inc. Chief Executive Maurice “Hank” Greenberg liable for damages on a reinsurance transaction that state Attorney General Andrew Cuomo said helped the...
New York AG Sues FedEx Over Independent Contractor Classifications
Oct 25 2010 // New York Attorney General Andrew Cuomo is suing Federal Express’ ground package delivery unit, alleging its classification of drivers as independent contractors illegally deprives them of legal protections workers...
Judge Bars New York City From Hiring New Firefighters
Oct 21 2010 // A federal judge has barred New York City from hiring new firefighters after criticizing its handling of a discrimination lawsuit against the fire department. Judge Nicholas Garaufis (GEHR’-ah-fuhs) said Tuesday his...
New York to Hold Lawyers Accountable on Foreclosures
Oct 21 2010 // The chief judge of New York’s courts has implemented a new rule requiring every lawyer handling a foreclosure to sign a form verifying that all paperwork in the case is accurate. The move comes amid an uproar over...
