Latest New York Headlines

California Leads Nation in Hybrid Ownership; Travelers Offers Discount

Oct 17 2006 // Travelers is now offering a 10 percent discount on auto insurance for California owners of Hybrid vehicles. According to the company, Californians registered 52,619 new hybrid vehicles in 2005. At a distant second, Florida...

N.Y. Commercial Realty Firm Forms Captive Insurer

Oct 10 2006 // SL Green Realty Corp., a major owner of commercial office properties in Manhattan, has formed Belmont Insurance Co., an insurance captive licensed in New York State. It was formed to insure a portion of SL Green’s...

Insurance Charity Foundation Opens in N.Y.; Plans National Expansion

Oct 10 2006 // A California organization seeking to be a collective voice for insurance industry philanthropy has launched a New York division, kicking off what it hopes will become a nationwide expansion. The Insurance Industry...

New Markets

Oct 9 2006 // Liability Long Term Care Facilities Nuts & Bolts: Houston, Texas-based London American Risk Specialists Inc. is offering CareSurance, a new liability insurance program designed to meet the needs of skilled, assisted...

Business Moves

Oct 9 2006 // Safeco moves to New York Stock Exchange, to Lay off 240 Seattle-based Safeco intends to list its common stock on the New York Stock Exchange (NYSE). Safeco anticipates the trading of its common stock to commence on the...

Soft Market, Globalization Spurs Need for Well-Educated D&O Underwriter

Oct 6 2006 // “Today it’s a tough time to be a director and officer, and that means it’s a tough time to be a D&O underwriter,” according to Doug Poetzsch, senior vice president, head of specialty claims for...

Delaware River States Agree to Joint Flood Control Study

Oct 5 2006 // Pennsylvania, New York, Delaware and New Jersey have agreed to share the costs of a $500,000 study to examine the effects of operational changes at major reservoirs throughout the entire Delaware River basin. The state...

N.Y. Man Pleads Guilty in N.J. Auto Theft Ring

Oct 5 2006 // A New York man has pleaded guilty for his leadership role in an auto theft and insurance fraud ring in New Jersey, according to New Jersey officials. New Jersey Attorney General Stuart Rabner and Criminal Justice Director...

Darwin Offers Mental Health Liability Program Through N.Y. Agency

Oct 5 2006 // Darwin Professional Underwriters, Inc., in Farmington, Conn., has expanded its partnership with New York-based American Professional Agency to provide a professional liability insurance program for mental health...

P/C Insurers’ Profitability Drops in First-Half of 2006

Oct 2 2006 // The U.S. property/casualty insurance industry’s net income after taxes fell 9.3 percent to $28.3 billion in first-half 2006 from $31.2 billion in first-half 2005 as investment results deteriorated. Reflecting the...

N.Y. Business Owner Caught Forging Insurance Certificate

Sep 29 2006 // A 54-year-old business owner pleaded guilty to issuing a false certificate of insurance claiming to have workers’ compensation insurance with the New York State Insurance Fund, according to the NYSIF. NYSIF said that...

N.Y. Sees Rise in Number of Health Insureds

Sep 29 2006 // New York was the only state to see a significant drop in its number of uninsured people even as their ranks grew nationally, a new report finds. The report by the union-backed Fiscal Policy Institute found the percent of...

Safeco Plans to List on the New York Stock Exchange

Sep 28 2006 // Seattle-based Safeco announced it intends to list its common stock on the New York Stock Exchange (NYSE). Safeco anticipates the trading of its common stock to commence on the NYSE on Nov. 30, 2006 under the new symbol...

N.Y. City to Adjust Reservoirs to Lessen Delaware River Flooding

Sep 27 2006 // New York City has agreed to periodically lower the water level in three of its upstate reservoirs in an attempt to ease flooding along the Delaware River, according to environmental officials. By leaving the reservoirs...

Industry to Congress: Permanent Solution to Terrorism Insurance Vital

Sep 27 2006 // Insurers, agents and business groups called on Congress to create a permanent solution safeguarding the economy against future terrorist attacks at congressional hearing today, “Protecting Americans from Catastrophic...

News Currents

Sep 25 2006 // Marsh & McLennan cutting 750 jobs Marsh & McLennan Cos. Inc., the world’s biggest insurance brokerage, said it will cut 750 jobs, consolidate some locations and revamp its information technology structure...

People and Places

Sep 25 2006 // Miami insurance agent Alex Soto has been inaugurated as the new president of the Independent Insurance Agents & Brokers of America (the Big “I”), with Robert E. Fulwider and C. Brett Nilsson assuming the...

People and Places

Sep 25 2006 // Miami insurance agent Alex Soto has been inaugurated as the new president of the Independent Insurance Agents & Brokers of America (the Big “I”), with Robert E. Fulwider assuming the office of...

Sep 25 2006 // People Miami insurance agent Alex Soto has been inaugurated as the new president of the Independent Insurance Agents & Brokers of America (the Big “I”), with Robert E. Fulwider assuming the office of...

Marsh & McLennan cutting 750 jobs

Sep 25 2006 // Marsh & McLennan Cos. Inc., the world’s biggest insurance brokerage, said it will cut 750 jobs, consolidate some locations and revamp its information technology structure to cut costs. Marsh & McLennan,...