Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
Insurance Mergers Complicated by Economy, Low Valuations, Hidden Risks
Nov 15 2010 // With organic growth difficult in the current economy and soft market, there could be an increase in insurance industry merger and acquisition activity over the next 12 to 18 months, according to mergers and acquisitions...
New York Man’s Faked Store Fall Caught on Tape
Nov 14 2010 // Authorities say a central New York convenience store’s surveillance cameras caught a man purposely pouring soda on the floor and then faking a fall so he could file an insurance claim against the business. State...
Starbucks Defeats New York Woman’s Tea Burn Lawsuit
Nov 14 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 has...
Regulators Tell New York Agents How to Reveal Their Commissions
Nov 14 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...
Feds Rap 2 Firms for Scaffold Collapse at New York College
Nov 14 2010 // Federal workplace safety officials say they’ve cited two contractors for the scaffolding collapse that injured six workers at a construction site last June at Binghamton University in New York. The Occupational...
Group: New York City Building Industry Still Slowing
Nov 14 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...
Bond Insurer Ambac Files for Bankruptcy
Nov 14 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 on Nov. 8. The filing cements Ambac’s decline from a company...
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...
