Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
Reputed Mobster Pleads Guilty to Staged Accidents, Insurance Fraud Charges in New York
Aug 4 2004 // A reputed member of the Bonanno crime family pleaded guilty to running a major insurance scam, which used a corrupt medical clinic in Queens to file millions of dollars in bogus insurance claims. Joseph Fratta, who was...
Amid Heightened Security, Financial Firms Including Citigroup, AIG, MetLife and Pru Tend to Business
Aug 3 2004 // Police closed several streets in midtown Manhattan and banned trucks from bridges and tunnels leading to the city’s financial district Monday, Aug. 2, following a government warning that terrorists were planning to...
U.S. Places Financial Centers in N.Y., N.J. and D.C. on High Terror Alert
Aug 2 2004 // Homeland Security Secretary Tom Ridge announced that the government has “specific credible information” causing it to raise to the terrorism threat level to Code Orange for the financial services sector in New...
IIABA of N.Y. Backs Case for Reauthorization of TRIA
Jul 29 2004 // The Independent Insurance Agents & Brokers of New York Inc. has taken its case for reauthorizing the Terrorism Risk Insurance Act of 2002 before the end of the year to Capitol Hill. Three members of the Syracuse-based...
N.C. Commissioner Signs Race-Based Premium Settlements with Trio of Companies
Jul 29 2004 // North Carolina Insurance Commissioner Jim Long has signed three settlement agreements with companies that reportedly participated in discriminatory rating practices in North Carolina. The settlements with the companies,...
Sen. Schumer Targets N.Y. Car Insurance Fraud
Jul 23 2004 // Fraud and auto insurance scams are costing New York drivers millions in inflated insurance premiums, U.S. Senator Charles E. Schumer (D-N.Y.) warned. New York drivers pay the second highest car insurance rates in the...
N.Y. Surplus Lines Industry Worried Gov. Pataki Will Not Sign Minimum Premium Bill
Jul 20 2004 // The New York surplus lines industry is trying to convince the Pataki administration to allow a change in the premium financing of surplus lines accounts, a change that lawmakers have approved overwhelmingly, but the...
Sorrell Joins Lemac & Associates
Jul 20 2004 // Lemac & Associates Inc. announced that John D. Sorrell Jr., has joined its Los Angeles office as assistant vice president. Sorrell will be based in Lemac’s Los Angeles office and will be responsible for...
Insurers Warn Over N.Y. Workers’ Comp Rates
Jul 19 2004 // Following last week’s rejection of the industry’s request for a 29.3 percent hike in New York workers compensation rates, insurers have cautioned that the decision could eventually make it tougher for employers...
N.Y.’s Vicarious Liability Costly for Consumers and Auto Dealers
Jul 19 2004 // New York’s so-called vicarious liability law affecting car leasing firms costs consumers more than $130 million a year and has led to a 36 percent decline in the number of vehicles leased in New York each year,...
Brokers Urged to Avoid Surprises in Lawyers’ E&O
Jul 19 2004 // The news that the market for lawyers’ liability coverage is softening may not be surprising but the questions that today’s insurance underwriters ask about law firm accounts might be, attendees at a recent...
Chubb, National Grange, N.Y. Central Mutual and Sterling Top Performers in PIANY Annual Survey
Jul 19 2004 // Chubb Group, National Grange, New York Central Mutual and Sterling Insurance Co. ranked among the top performers out of 38 evaluated in the second annual company performance survey by the Professional Insurance Agents of...
Construction Defects Burning a Hole through the Residential Contractors Market
Jul 19 2004 // Whether real or imagined, the threat of construction defects litigation has burned through the residential contractors liability insurance market like a California wildfire. Over the past couple of years, contractors and...
N.Y. FAIR PLAN BACK IN BUSINESS:
Jul 19 2004 // After nearly nine weeks of being suspended, operations at the New York property insurance residual market are back. The suspension of the New York Property Insurance Underwriting Association, also known as the Fair Plan,...
N.Y. MED-MAL RATES UP 7%:
Jul 19 2004 // New York Superintendent of Insurance Gregory V. Serio announced that the majority of New York State’s 50,000 physicians will see a 7 percent rate increase in their medical malpractice insurance premiums for the...
Brokers Urged to Avoid Surprises in Lawyers’ E&O
Jul 19 2004 // The news that the market for lawyers’ liability coverage is softening may not be surprising, but the questions that today’s insurance underwriters ask about law firm accounts might be, as the attendees at a...
Decision on N.Y. Workers’ Comp Rates Due Today
Jul 15 2004 // New York workers compensation insurers should find out today whether they will be allowed to raise rates beginning in October. By law, the New York Insurance Department must issue a decision on rates by July 15. The...
N.Y. Rejects 29% Workers’ Comp Rate Increase
Jul 15 2004 // New York Superintendent of Insurance Gregory V. Serio today rejected the filing submitted by the New York Compensation Insurance Rating Board (CIRB) that sought an overall increase of 29.3 percent in workers’...
N.Y. Department to Hold Supplemental Public Hearing on Proposed Workers’ Comp Rate Hike
Jul 9 2004 // The New York State Insurance Department has scheduled a public hearing for Tuesday, July 13, to consider the application of the New York Compensation Insurance Rating Board for a workers’ compensation insurance...
Insurers Back N.Y. Surplus Lines Financing Change
Jul 8 2004 // A trade group for property casualty insurers is urging New York Governor George Pataki to sign a bill that would eliminate current limitations on premium financing for surplus lines transactions. “We strongly support...
