Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
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...
Virginia Start-Up Hilb Group Acquires North Carolina, New York Agencies
Jul 14 2010 // The Hilb Group, a Virginia insurance brokerage launched in 2009 by the founder of what became one of the world’s largest brokerages along with his son, has added its first two partners as it begins building a...
Citigroup Loses Bid to Have Suit Over ‘Toxic’ Mortgages Dismissed
Jul 13 2010 // A Manhattan federal judge Monday rejected Citigroup Inc.’s bid to dismiss a class-action lawsuit by bondholders who said the bank misled them about its exposure to “toxic” mortgages. U.S. District Judge...
New York to Weigh Expanding Excess Lines Insurance List
Jul 8 2010 // New York Superintendent of Insurance James J. Wrynn said his agency will hold a public hearing on August 20 to explore the possibility of increasing insurance capacity in New York by easing access to unauthorized...
ACE Group Appoints Six New Global Client Executives
Jul 8 2010 // The ACE Group of insurance and reinsurance companies has announced the appointment of six additional global client executives in four countries: Jeff Carr and Shaun Edwards in London, Olivier Roussel in Paris, Wolfgang...
Latin Insurance Agent Groups Growing, Going Mainstream
Jul 7 2010 // A group of New York insurance agents has launched a new trade group for Latin insurance producers as well as brokers who serve the Hispanic community in the Northeast. LABA is not the first group geared toward insurance...
10 New York Students Among 58 InVEST Scholarship Winners
Jul 7 2010 // InVEST, the insurance industry’s career education program, has awarded $56,500 in scholarships to 58 college-bound students pursuing insurance-related degrees, including 10 students from New York. Patrick Moore,...
