Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
N.Y. Insurers Caution Lawmakers Over Reaction to Broker Probes As Albany Prepares for Assembly Hearing
Dec 2 2004 // The New York Insurance Association (NYIA) cautioned state lawmakers in Albany against “a knee-jerk public policy reaction” to allegations of improper business practices by brokers, agents and insurers that...
Study Finds Medical Costs Driving Up Auto Injury Claims
Nov 30 2004 // A new study by the Insurance Research Council (IRC) finds that claimed losses for auto injuries have escalated at vastly different rates across four states with no-fault auto insurance regulations. From 1997 to 2002, the...
Calafiore Elected President of Greater N.Y. Brokers
Nov 29 2004 // The Council of Insurance Brokers of Greater New York inaugurated its youngest president to date — Anthony S. Calafiore, president, Apex Brokerage Co. Inc. — at its 27th annual Dinner Dance. CIBGNY also honored Terry M....
MBIA Provides Additional Information on Subpoenas
Nov 24 2004 // New York- based financial guarantee insurer MBIA, Inc. has issued a follow-up bulletin concerning the subpoenas it recently received from the Securities and Exchange Commission and the New York Attorney General’s...
PIANY’s MetroRAP 2005 Education Designed for Downstate Insurance Professionals
Nov 24 2004 // The Professional Insurance Agents of New York State Inc. will feature two continuing education courses during its annual Metropolitan Regional Awareness Program, Thursday, Jan. 20, 2005, at the New York Marriott Brooklyn,...
N.Y. Superintendent Calls for Auto Rate Reassessment as Fraud-Fighting Successes Drop Insurers’ Losses
Nov 23 2004 // New York Superintendent of Insurance Gregory Serio on Tuesday announced the commencement of an immediate and broad-based review of auto insurance rates for private passenger vehicles in New York State. Insurance companies...
N.Y. Hearing on Marsh Rescheduled for Jan. 18
Nov 22 2004 // A public hearing on Marsh & McLennan Companies Inc. that was scheduled by the New York Department of insurance for Tuesday, Nov. 23, 2004 has been adjourned to Tuesday, Jan. 18, 2005. The hearing was moved due to the...
Fruitful Season: Buyers Keep Picking Off Agencies
Nov 22 2004 // Insurance agencies continued to be picked off at a healthy clip throughout 2004 but experts believe buyers will still be hungry in the new year. Several reports indicate that 2004 announced deals should exceed the number...
N.Y. UNVEILS HOLOCAUST AWARDS:
Nov 22 2004 // New York Governor George E. Pataki revealed that $2.3 million in offers have been made to Holocaust survivors and their heirs for insurance policies held with companies that were either liquidated or nationalized after...
N.Y. CRACKS FRAUD RING:
Nov 22 2004 // New York officials are hailing the arrest of 24 individuals alleged to have been involved in an auto insurance fraud operation they say has ties to organized crime. New York City Police Commissioner Raymond W. Kelly, Kings...
Study: Half of Compensation to 9/11 Victims Came from Insurance
Nov 22 2004 // Insurance companies played the largest role in compensating people and businesses hurt by the Sept. 11 attacks, paying slightly more than half of the $38.1 billion in benefits, according to a recent study. The results...
Multi-State, $120M Agreement with UnumProvident Requires Reassessing Claims Back to 1997
Nov 18 2004 // A multi-state settlement with UnumProvident Corp. over its disputed handling of disability claims would cost the firm more than $120 million to comply and require it to review more than seven years of claims. It also calls...
Pair of Zurich Underwriters Plead Guilty
Nov 16 2004 // New York Attorney General Eliot Spitzer said Tuesday that two employees from a third insurance company- Zurich American Insurance Company (Zurich) – have pleaded guilty to criminal charges in connection with a bid...
N.Y. AG Suggests Off-Shore Insurers, Rating Organizations, Insurer Investments Next Targets
Nov 16 2004 // New York Attorney General Eliot Spitzer signaled today he believes investigations of the insurance industry have only “scratched the surface” thus far of questionable activities and that additional probes are...
Spitzer Sues Universal Life Resources over Broker Pay
Nov 15 2004 // A California-based company that brokers life, accident and disability policies for leading U.S. companies pocketed millions of dollars a year in hidden payments from insurers and from charges on clients’ unsuspecting...
Collins Adds Poeton to N.Y. Office
Nov 11 2004 // John B. Collins Associates Inc., a reinsurance intermediary, announced that Tim Poeton has joined the firm as a vice president in their New York office. In his new role, Poeton will be responsible for establishing new...
The Hartford Releases Pair of Employees From Los Angeles Office as New York AG’s Investigation Continues
Nov 11 2004 // As the investigation into alleged bid-rigging in the insurance industry goes on, The Hartford announced on Thursday that a pair of its employees have been dismissed after the company concluded that they were not fully...
Fla. Investigation: Brown & Brown Says It Carefully Monitors Brokers
Nov 10 2004 // Brown & Brown Inc. is confident that twin investigations of the insurance industry by Florida officials will reveal no wrongdoing by the Daytona Beach-based company or its brokers, its president says. Jim Henderson,...
N.Y. Cracks Alleged Auto Salvage Fraud Ring
Nov 10 2004 // New York officials are hailing the arrest of 24 individuals alleged to have been involved in an auto insurance fraud operation they say has ties to organized crime. New York City Police Commissioner Raymond W. Kelly, Kings...
Insurance Paid $20 Billion, More Than Half of Total Compensation to 9/11 Victims, Rand Study Finds
Nov 9 2004 // Victims of the Sept. 11, 2001 terrorist attacks — both individuals killed or seriously injured and individuals and businesses impacted by the strikes — have received at least $38.1 billion in compensation, with...
