Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
Greenberg, AIG and Starr Consent to Court Order Protecting Documents Sought in Investigation
Apr 8 2005 // The Securities and Exchange Commission said it has obtained a protective order against Maurice R. Greenberg, C.V. Starr & Company Inc. and American International Group Inc., in the United States District Court for the...
Minn. AG, Willis Group Resolve Investigation; N.Y. Also Reports Agreement
Apr 8 2005 // Minnesota Attorney General Mike Hatch and Willis Group Holdings Ltd. Chairman and CEO Joe Plumeri on Friday announced an agreement relating to Willis’ insurance brokerage practices. Under the agreement, Willis will...
S&P: Willis Group Holdings Ltd. Ratings Removed from CreditWatch and Affirmed; Outlook Negative
Apr 8 2005 // Standard & Poor’s Rating Services said Friday that it affirmed its ratings on Willis Group Holdings Ltd., including the ‘BBB-‘ counterparty credit rating, and removed them from CreditWatch, where...
Fla. Agent Charged for Grand Theft; Accused of Not Forwarding Premium
Apr 4 2005 // An Ormond Beach, Fla. man has been accused of not forwarding insurance premiums to his underwriter and charged with grand theft after a New York insurance agent reported the incident to the Flagler Beach Police...
Commentary: The Inevitable Hour
Apr 4 2005 // Bidding Farewell to AIG’s Legendary Hank Greenberg In America, nothing fails like success, wrote novelist Budd Schulberg. That thought, among others, was on my mind as reports swirled around that Hank Greenberg,...
Agents Beware: Due Diligence is Now Required
Apr 4 2005 // Transactions between retail agents and brokers they place business through just became more labor intensive. I recently testified as an expert in a federal case involving a reputable agency’s failure to conduct...
Agents Beware: Due Diligence is Now Required on Brokers
Apr 4 2005 // Transactions between retail agents and brokers they place business through just became more labor intensive. I recently testified as an expert in a federal case involving a reputable agency’s failure to conduct...
Spitzer’s Complaint Outlines Aon’s Personal Lines Deals with Insurers
Apr 4 2005 // The recent $190 million settlement between the world’s second largest insurance broker, Aon, and officials in three states sheds light on how, as New York Attorney General Eliot Spitzer and other public officials...
AIG Halts Removal of Documents in Bermuda; CEO Sullivan Sends Letter to Shareholders
Apr 3 2005 // American International Group has reiterated its intention to cooperate with all investigations and acknowledged it had to stop efforts to remove documents from its Bermuda building, in a letter to shareholders. “AIG...
N.Y. Court Upholds No-Fault Regulation Letting Insurers Deny Payments to Fraudulent Medical Firms
Apr 1 2005 // The New York Court of Appeals has upheld the right of an insurance company to refuse to reimburse fraudulently incorporated medical providers for no-fault auto insurance claims even when the medical care provided is...
N.Y. Toughens Reporting on Finite Reinsurance
Mar 30 2005 // The New York State Insurance Department has decided it will require insurers’ chief executive officers to verify that any finite reinsurance contracts their companies have are correctly reported. The CEOs will be...
Copy of AIG Chairman Greenberg’s Retirement Letter
Mar 29 2005 // The Board of Directors of American International Group, Inc. (AIG) confirmed that it has received a letter from David Boies on behalf of its Chairman M. R. Greenberg, indicating his intent to retire from his position as...
N.Y. Raises Age for Mandatory Child Booster Seats
Mar 29 2005 // As of March 27, all children in New York state ages 4, 5 and 6 in automobiles are required to be restrained in approved car booster seats. New York Assemblyman Jack McEneny and Sen. Dean Skelos, who sponsored the...
N.Y.’s Mills Vows to Fight for TRIA Renewal
Mar 24 2005 // Howard Mills, acting New York superintendent of Insurance, promised a group of local agents, brokers and insurance company representatives he would stress the need to extend the Terrorism Risk Insurance Act beyond the end...
N.Y. Court Denies Workers’ Compensation Survivor Benefits for Same-Sex Partner
Mar 23 2005 // A New York man who sought workers’ compensation benefits after his same-sex partner of more than 20 years was killed in an airplane crash has been denied his claim. The Appellate Division of the Supreme Court of the...
Spitzer’s Complaint Outlines Aon’s Personal Lines Deals with Insurers
Mar 21 2005 // The recent $190 million settlement between the world’s second largest insurance broker, Aon, and officials in three states sheds light on how, as New York Attorney General Eliot Spitzer and other public officials...
Agents Beware: Due Diligence is Now Required on Brokers
Mar 21 2005 // Transactions between retail agents and brokers they place business through just became more labor intensive. I recently testified as an expert in a federal case involving a reputable agency’s failure to conduct...
Main Street Matters
Mar 21 2005 // New York is one of the worst; New Jersey is also poor; Virginia remains among the best; Massachusetts and Maryland are looking better and better; Connecticut is holding steady, while Pennsylvania has some catching up to...
FERRY CRASH PROBE FAULTS CITY:
Mar 21 2005 // A federal safety board sharply criticized New York City and the Coast Guard in the 2003 Staten Island Ferry crash that killed 11 passengers, saying tougher medical screening of ferry captains and safer operating procedures...
N.Y. BILL IMPOSES FIDUCIARY DUTY:
Mar 21 2005 // Assemblyman Ryan Scott Karben (D/I-Rockland), a majority member of the New York State Assembly’s Insurance Committee, has introduced a legislative package on agent and broker compensation that would require...
