Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
Judge Allows Lawsuits Against Bank of America Executives Over Merrill Deal
Aug 30 2010 // A Manhattan federal judge refused to dismiss shareholder lawsuits against Bank of America Corp and various executives and directors over the purchase of Merrill Lynch & Co. during the 2008 financial crisis and...
Manulife, Ace among Bidders for NY Life Asia – Sources
Aug 27 2010 // Canadian insurer Manulife Financial Corp and Switzerland’s Ace Ltd are among bidders for New York Life Insurance Co’s Hong Kong, Taiwan and South Korean assets, sources said, in a deal valued between $800...
BP Settlements May Shield Top Defendants, New York Times Reports
Aug 20 2010 // Those seeking a settlement from the BP $20 billion compensation fund may have to waive their rights to sue all major defendants involved with the Gulf of Mexico oil spill, not just BP, the New York Times reported on...
New York to License Self-Storers, Open Up Car Rental Coverage
Aug 18 2010 // Self-storage company operators in New York will be allowed to obtain insurance licenses to sell contents coverage to their clients, under a law signed by Gov. David Paterson. The law allows the state’s Department of...
New York City to Get Hundreds of Countdown Clock Crosswalks
Aug 18 2010 // From Park Avenue to Queens Boulevard, some 1,500 New York City intersections are getting countdown crosswalk signals to help millions of pedestrians know how much time they have to cross streets. Mayor Michael Bloomberg...
Cuomo and New York Regulators Respond to Producer Comp Lawsuit
Aug 16 2010 // In a series of court filings, the New York Attorney General’s Office and State Insurance Department argue that new rules requiring agents to disclose their pay to clients are needed to penetrate a “cloak of...
2010 Education & Training Directory
Aug 16 2010 // Insurance Journal is pleased to publish the 2010 Education and Training Directory. This exclusive resource directory has been designed to help independent agents and brokers find educational and training opportunities to...
Arson Blamed for Fire at New York Elementary School
Aug 12 2010 // New York arson investigators have determined that a blaze at a Long Island elementary school was intentionally set. Police say witnesses reported hearing a loud explosion and saw several people running from the George...
New York Uses Technology in DMV to Snag Thieves, Hit Man
Aug 12 2010 // New York’s face-recognition technology has led to 100 arrests over six months, ranging from people trying to defraud insurance companies to a mob hit man who sought a new identity a day after he was released from...
Spain $1 Billion Lawsuit Over Sunk Tanker Dismissed
Aug 5 2010 // A U.S. federal judge dismissed Tuesday Spain’s $1 billion lawsuit against an organization that declared seaworthy a tanker whose 2002 sinking created one of the world’s biggest oil spills. U.S. District Judge...
New York Raises Property Damage Threshold for Insurance Surcharges
Aug 3 2010 // Good news for New York drivers: They can now damage their cars a little bit more before an insurer can surcharge their policies, thanks to a law change signed this weekend by Governor David Paterson. The law raises to...
New York City Settles 50-Bullet Cop Lawsuit for $7M
Jul 30 2010 // The city of New York has agreed to pay more than $7 million to settle a civil lawsuit stemming from the fatal 50-bullet police shooting of an unarmed man on his wedding day. The settlement filed in Brooklyn federal court...
MetLife, Pru Facing Probe Over Soldiers’ Death Benefits
Jul 30 2010 // New York’s attorney general has subpoenaed MetLife Inc. and Prudential Financial Inc. as part of a probe into whether life insurers are defrauding families of deceased military personnel by siphoning off millions of...
Foremost Insurance Group Launches Auto Program in New York
Jul 29 2010 // Foremost announces their DISTINCTCHOICE auto program in New York. Foremost’s new auto program is designed with increased limits, deductible options and important coverages for drivers. The DistinctChoice auto program...
Agency Employee Charged with Stealing $22K from New York Agency
Jul 28 2010 // The owner of a Woodside, New York insurance brokerage has been arrested for allegedly stealing $22,300 in commissions from an insurance agency that fired her. New York fraud investigators said Gohar Parunakyan, 40, of...
U.S. Indicts 3 for Alleged Municipal Bid-Rigging
Jul 28 2010 // The U.S. Justice Department Tuesday indicted three former financial services executives as part of a wide-ranging probe into fraud and manipulation of prices for municipal bond derivatives. The 12-count indictment, filed...
Tornado Damages 18 Condos in Western New York
Jul 26 2010 // A tornado tore through western New York on Saturday, ripping the roof off a condominium and damaging 17 others and causing widespread power outages. The National Weather Service said the twister touched down in Mayville in...
New York Reopens Probe of AIG’s Cassano
Jul 26 2010 // New York State Attorney General Andrew Cuomo reopened his investigation into former American International Group Inc. executive Joseph Cassano after U.S. authorities ended their own probes, Bloomberg reported, citing a...
New York Approves Increase in Workers’ Comp Loss Costs
Jul 21 2010 // New York insurance regulators have approved a 7.7 percent hike in workers’ compensation loss costs — an increase that will go into effect in October. The New York Compensation Insurance Rating Bureau (NYCIRB),...
Queens Contractor Arrested for Workers’ Comp Fraud
Jul 20 2010 // The New York State Insurance Fund said a Queens contractor who allegedly defrauded the workers’ comp insurer of more than $150,000 in uncollected premium has been arrested. Queens contractor on grand larceny and...
