Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
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...
Business Moves
Jul 19 2010 // First Mercury, Valiant Michigan-based First Mercury Insurance Co. is acquiring New York-based Valiant Insurance Group Inc. in a transaction valued at approximately $55 million. The transaction is expected to close in the...
Business Moves
Jul 19 2010 // NetComp NetComp Insurance, a newly-formed program manager based in Columbia, S.C., has opened its online program (www.netcompinsurance.com) for small to-mid size workers’ compensation business to all independent...
Country Sees Growing Power of Hispanic Agents and Customers
Jul 19 2010 // Latin Agents Group Launches in New York The growth of the country’s Hispanic population is a hot topic among demographers and marketers – including insurance producers and brokers. As of 2008, the last year for...
Ex-Marsh Executives’ Bid-Rigging Convictions Tossed on New Evidence
Jul 19 2010 // A New York judge has thrown out the convictions of two former Marsh & McLennan Cos. executives for their roles in an insurance bid-rigging scheme that led to an $850 million settlement with the state. The defendants...
New York Weighs Easing Excess Lines Rules
Jul 19 2010 // New York Superintendent of Insurance James J. Wrynn said his agency will hold a public hearing next month to explore the possibility of increasing insurance capacity in New York by easing access to non-standard market...
NYMAGIC’s Ratings ‘Unchanged’ Says Best by ProSight Acquisition
Jul 16 2010 // A.M. Best Co. has commented that the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of New York Marine Group and its members and the ICR of...
