Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
AIG Forms Specialty Excess Unit to Handle C.V. Starr, Other Business
Feb 27 2006 // The AIG Companies have formed AIG Specialty Excess, an umbrella and excess casualty underwriting unit that the company says will concentrate on insuring specialty and difficult-to-place classes of business including...
Capsized N.Y. Tour Boat’s Insurance Broker Focus of 3-State Probe
Feb 26 2006 // Regulators in three states are investigating whether companies in London and Miami sold a fraudulent insurance policy to the owner of a tour boat that capsized on a New York lake and killed 20 elderly tourists, a Detroit...
N.Y. Looks to Return $150 Million in Unclaimed Insurance, Bank Funds
Feb 26 2006 // New Yorkers this fiscal year are expected to recover about $150 million from lost bank accounts, insurance policies and other funds, state Comptroller Alan Hevesi said last week. The abandoned funds include old bank...
Futures Trading Begins on Snowfall Index for Boston, N.Y. City
Feb 26 2006 // Trading on snowfall futures has begun. Chicago Mercantile Exchange, which bills itself as the world’s largest and most diverse financial exchange, began Feb. 26 listing and trading snowfall futures and options on...
Insurers Ready to Testify That N.Y. Homeowners Market is Healthy
Feb 23 2006 // The New York homeowners insurance market is stable, according to the Property Casualty Insurers Association of America. Kristina Baldwin, PCI’s regional manager, will testify to that effect Monday before a hearing of...
Retailers challenge benefit mandates in Md., N.Y.
Feb 20 2006 // A group of retailers has filed suits challenging laws in Maryland and New York that were enacted to pressure employers to spend a minimum amount on their employees’ health benefits. The Retail Industry Leaders...
N.Y. Senator Schumer criticizes Allstate’s metro-area retreat
Feb 20 2006 // New York State’s largest provider of homeowners insurance should reconsider its decision to stop writing new policies in the metropolitan area over concerns about hurricane damage, according to Sen. Charles...
Record $1.6 billion deal ends litigation, creates ‘new path’ for giant AIG
Feb 20 2006 // State and federal regulators on Feb. 9 announced agreements that resolve litigation and investigations of securities fraud, account steering, bid-rigging, improper accounting and under-reporting of workers’...
News Currents
Feb 19 2006 // Record $1.6 billion deal ends litigation, creates ‘new path’ for giant AIG State and federal regulators on Feb. 9 announced agreements that resolve litigation and investigations of securities fraud, account...
AIG affirms ban against contingency compensation; N.Y. insurance chief Mills disagrees with Spitzer
Feb 19 2006 // Producers should no longer expect contingent commissions from American International Group, according to the settlement with New York Attorney General Spitzer and what the company says is its own global policy...
Former Gen Re, AIG Execs Plead Not Guilty to Reinsurance Fraud Charges
Feb 17 2006 // As a federal probe into the insurance industry widens, four former top executives of giants General Re and American International Group are pleading not guilty to fraud and conspiracy charges. The Justice Department has...
AIG Severs Ties with C.V. Starr; Expands Own Global Energy Unit
Feb 17 2006 // American International Group, Inc. announced Friday that its AIG Companies terminated the agency relationship with Starr Technical Risks Agency, Inc. and its subsidiaries (Starr Tech), insurance agencies owned by C.V....
R.I.’s Beacon Review to be Headed by Former N.Y. City Mayor Giuilani’s Firm
Feb 16 2006 // Former Rhode Island Governor Lincoln C. Almond, who heads a review committee named by The Beacon Mutual Insurance Company, announced that Giuliani Safety & Security, a management consulting firm headed by former New...
N.Y. Worker Injured in Fall From Platform Gets $2.3 Million
Feb 16 2006 // A jury awarded $2.3 million to a Staten Island, N.Y. man who fell from a faulty work platform and broke a kneecap and wrist almost nine years ago, his lawyer said. The Manhattan state Supreme Court jury found this week...
N.Y. Fraud Bureau Touts Record Year
Feb 16 2006 // New York saw more than 750 insurance fraud-related arrests in 2005 as a result of stepped-up law enforcement alliances with federal, state and local officials, according to the state’s insurance fraud report. New...
N.Y. Regulator Balked at Spitzer Deal Ending AIG Contingent Pay
Feb 15 2006 // Producers should no longer expect contingent commissions from American International Group, according to the recent settlement with New York Attorney General Spitzer and what the company says is its own global policy...
N.Y. Sets Agenda for Public Hearing on Homeowners Insurance Market
Feb 13 2006 // New York Superintendent of Insurance Howard Mills released the agenda for a public hearing on the state’s current homeowners’ insurance marketplace that is scheduled for Monday, Feb. 27. The public hearing will...
N.Y. Jury Tosses Family’s Claim That Thrown Shrimp Led to Death
Feb 13 2006 // A jury in Mineola, N.Y. took two hours to reject a widow’s claim that her husband’s death resulted from an injury he suffered while ducking a piece of flying shrimp at a Japanese steakhouse. The family of Jerry...
Retailers File Suits Against ‘Fair Share’ Mandates in Md., N.Y. Courts
Feb 8 2006 // A group of retailers has filed suits challenging laws in Maryland and New York that were enacted to pressure employers to spend a minimum amount oin employees’ health benefits. The Retail Industry Leaders Association...
Agent Group Garners N.Y. Award for ‘Lunch ‘n’ Learn’ Seminars
Feb 8 2006 // ˜The Professional Insurance Agents of New York State, New Jersey, Connecticut and New Hampshire has received an Association Excellence Award in Education for its Lunch ‘n’ Learn multimedia Web teleconference...
