Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
HIP of N.Y. Completes ConnectiCare Buyout
Mar 10 2005 // HIP Health Plan of New York hs completed its acquisition of ConnectiCare Holding Company, Inc. HIP received regulatory approval for the acquisition from Massachusetts and previously from Connecticut and New York. The...
Ferrara Nominated to N.Y. Workers Comp Board
Mar 7 2005 // New York Governor George E. Pataki has nominated Nassau County Assemblywoman Donna Ferrara (R,C-Westbury) to serve as a Commissioner of the New York State Workers Compensation Board. Ferrara’s nomination is subject...
WSJ Report: Officials Probing AIG CEO Greenberg’s Role in Reinsurance Products
Mar 7 2005 // Federal and state investigators are looking into a deal between American International Group Inc. and Berkshire Hathaway Inc.’s General Reinsurance unit in part because of the alleged involvement of AIG’s...
N.Y. CREDIT RULES IRK INSURERS:
Mar 7 2005 // Insurance companies are concerned that new regulations adopted by the New York Insurance Department regarding the use of credit information for personal lines coverage could be more burdensome than necessary. The...
People & Places
Mar 7 2005 // Deneen Schmitt Deneen Schmitt and Jim Cottone are among two of the newest additions to the expanding Pittsburgh, Pa., operations of Willis Group Holdings. Schmitt has joined Willis from Aon to serve as a senior vice...
News from Worldcom, Enron and Spitzer Invades PLUS Symposium
Mar 7 2005 // News from Worldcom, Enron and Spitzer Invades PLUS Symposium Settlements that reach beyond insurance and into the pockets of firms’ former directors draw attention to the limits of insurance, professional liability...
Ripped from the Headlines: Law and Order in Today’s D&O
Mar 7 2005 // News from Worldcom, Enron and Spitzer Invades PLUS Symposium Settlements that reach beyond insurance and into the pockets of firms’ former directors draw attention to the limits of insurance, according to...
Contingency Commissions and the Future of California Agents & Brokers
Mar 7 2005 // How the Spitzer-led investigation against broker fees inspired solutions to California’s “problems” Over the past several months, there have been numerous explanations, press releases and position papers...
Ripped from the Headlines: Law & Order in Today’s D&O
Mar 7 2005 // News from Worldcom, Enron and Spitzer invades PLUS Symposium Settlements that reach beyond insurance and into the pockets of firms’ former directors draw attention to the limits of insurance, according to...
Aon Settles Corruption Probe with 3 States for $190 Million; Complaint Cites Involvement of Top Execs
Mar 4 2005 // New York Attorney General Eliot Spitzer and Acting New York State Insurance Superintendent Howard Mills, together with Connecticut Attorney General Richard Blumenthal, Illinois Attorney General Lisa Madigan and Illinois...
Aon Responds: Apologizes but Admits No Wrongoing; Notes No Criminal Charges Filed
Mar 4 2005 // Aon Corporation acknowledged the settlement it reached with officials in three states over investigations that questioned the large brokerage firm’s receipt of contingent commissions from insurers by apologizing for...
N.Y. Bill Seeks Fiduciary Duty on Producers, Permits Profit Sharing with Disclosure
Mar 2 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...
Municipal Workers Pension Plan Sues AIG to Alter Board Nominating Process
Feb 25 2005 // The American Federation of State, County and Municipal Employees Pension Plan has filed suit against American International Group (AIG) in U.S. District Court for the Southern District of New York seeking to alter the...
Insurers Concerned With ‘Burdensome’ N.Y. Credit Score Regulations
Feb 24 2005 // Insurance companies are concerned that new regulations adopted by the New York Insurance Department regarding the use of credit information for personal lines coverage could be more burdensome than necessary. The...
N.Y. Equity Firm Buys Insurance Auto Auctions
Feb 24 2005 // Insurance Auto Auctions, Inc. in Westchester, Ill. has signed an agreement to be acquired by affiliates of Kelso & Company, a New York based private equity investment firm. The aggregate value of the merger...
N.Y. Court Rules ‘No Pay, No Protection’ from Suits Under Workers’ Comp Law for Scofflaw Employers
Feb 24 2005 // New York State’s highest court has ruled that employers that fail to purchase workers compensation coverage cannot hide behind the workers’ compensation protection against being sued by employees. In reversing...
Another Marsh Exec Pleads Guilty to Bid Rigging in Spitzer Probe
Feb 24 2005 // New York Attorney General Eliot Spitzer said today that a former senior executive of Marsh, Inc. has pleaded guilty to criminal charges in connection with an ongoing investigation of fraud and bid rigging in the insurance...
Aon in Settlement Talks with N.Y., Conn. and Ill. Attorneys General
Feb 22 2005 // Giant insurance broker Aon is in talks with the attorneys general of Connecticut, New York and Illinois that could potentially lead to settlement of charges related to improper compensation and account placement...
Marsh & McLennan Faces Off with Insurance Journal Readers
Feb 21 2005 // The street has become a superhighway, far removed from the clubby atmosphere of Los Angeles’ Wilshire Blvd. or New York’s Pine Street. Anybody can now comment on the latest industry happenings over the...
WORKERS COMP FUND BROKE:
Feb 21 2005 // The fund that pays New York injured workers whose workers’ compensation carriers have gone belly up is itself nearly bankrupt, according to state officials. The New York Workers Compensation Security Fund has about...
