Latest New York Headlines
All the headlines from our New York Topic Page, ordered by recency.
N.Y. Emergency Reg Requires Insurers to Expedite Claims Related to Civil Unrest
Jun 5 2020 // The New York State Department of Financial Services (DFS) has issued an emergency regulation requiring New York-regulated insurers to accelerate the claims process for businesses and individuals suffering damage as a...
Zaffino, AIG’s No. 2, Fights to Turn Around the House That Hank Greenberg Built
Jun 5 2020 // American International Group Inc.’s Peter Zaffino drew a clear line ahead of his jump to the insurer almost three years ago. “I didn’t want any advice,” Zaffino, AIG’s president, said in a...
Businesses Hurt First by Coronavirus Then by Looting Have New Insurance Questions
Jun 5 2020 // Al’s, a sporting-goods store tucked in Wilmington, Delaware’s small shopping district, opened during the Great Depression, weathered World War II and has been able to keep workers on the job during the...
More Americans Traveling Abroad Won’t Leave Home Without Insurance
Jun 4 2020 // In the new reality of COVID-19, some Americans may still be willing to travel abroad – but they’re going to make sure they’re insured up to the hilt. U.S. travel insurers are seeing a surge in demand for...
Did Debate Over Business Income Insurance Just Get More Complicated?
Jun 4 2020 // As the insurance industry faces litigation and questions over virus-related claim denials, it could soon be dealing with another business income hurdle due to the civil unrest that has taken place in many U.S. cities...
Amazon Sued Over Warehouses After N.Y. Worker Brings Coronavirus Home
Jun 4 2020 // Amazon.com Inc has been sued for allegedly fostering the spread of the coronavirus by mandating unsafe working conditions, causing at least one employee to contract COVID-19, bring it home, and see her cousin die. The...
Insurers Prepare for Claims as East States See Property Damage from Civil Unrest
Jun 4 2020 // Scenes that played out over the past few days in several East region states are serving as a stark reminder for the insurance industry of civil unrest that took place in New York and other U.S. states more than 50 years...
Chaos and Destruction as New York City Protest Turns Violent
Jun 1 2020 // An initially peaceful demonstration in New York City over the death of George Floyd, a black man killed by police in Minnesota, spiraled into chaos as night fell Friday, as protesters skirmished with police officers,...
Investors, Bondholders Sue Occidental Over Anadarko Merger
Jun 1 2020 // Occidental Petroleum Corp. has been sued by investors who claim they suffered billions of dollars of losses because the heavily indebted company concealed its inability to weather plunging oil prices, after paying $35.7...
Business Moves
Jun 1 2020 // National Altamont Capital, Topa Insurance The deal for Altamont Capital Partners to acquire Topa Insurance Group has been called off. Last August, Altamont Capital Partners signed an agreement to acquire Calabasas,...
NY Stock Exchange Partially Reopens Trading Floor; Traders, Staff Sign Liability Waivers
May 28 2020 // New York Governor Andrew Cuomo donned a face mask and rang the opening bell at the New York Stock Exchange on Tuesday, marking the partial reopening of the trading floor at 11 Wall Street, which had been shuttered since...
Lawmaker Details Federal Reinsurance for Pandemic Business Interruption, Event Losses
May 27 2020 // New York Congresswoman Carolyn Maloney has introduced the Pandemic Risk Insurance Act of 2020, a federal backstop for pandemic-related business interruption insurance modeled after the Terrorism Risk Insurance...
Three Members of $31.7M New York City Trip-And-Fall Scheme Sentenced to Prison
May 26 2020 // Three members of a $31.7 million trip-and-fall scheme to defraud New York City businesses and their insurance companies have been sentenced to prison. Bryan Duncan, Robert Locust and Ryan Rainford were sentenced by U.S....
Zurich North America Brings Apprenticeship Program to New York City
May 22 2020 // Zurich North America is expanding its professional apprenticeship program from its Chicagoland headquarters to its downtown New York City office this fall, with the Borough of Manhattan Community College (BMCC) as the...
New York Dusts Off 1918 Pandemic Playbook For Help in Making Subway Safer
May 21 2020 // As in 1918, New York may use staggered work hours to keep subway safe As New York City makes plans to reopen in the coming months, officials are dusting off the playbook from the 1918 flu pandemic, when businesses were...
Insurance Is Not A Company’s Primary Line of Defense in a Crisis
May 21 2020 // Imagine your company having a Halloween party: Employees show up wearing costumes mocking your customers, says the chief executive of a New York commercial insurance brokerage we recently interviewed. “Now imagine...
Maryland, Virginia, D.C. Intend to Sue EPA on Bay Pollution
May 20 2020 // Maryland, Virginia and the District of Columbia filed a notice of intent to sue the Environmental Protection Agency for failing to require two other states to implement plans to cut pollution in the Chesapeake Bay,...
Citi Appoints Haider to its Financial Institutions Group in New York
May 19 2020 // Citi has appointed Jawad Haider as North America head of insurance in its Financial Institutions Group, based in New York. He is starting at Citi effective immediately. Haider has more than 20 years of experience in...
People & Places
May 18 2020 // National Scott Kreuzer has been appointed as senior managing director, Americas, at Aspen Re, effective May 4, 2020. Kreuzer joins Aspen Re from Axis Reinsurance, where he has served as senior vice president and head of...
What to Expect in Workers’ Compensation Costs From COVID-19: NCCI
May 18 2020 // If only 10% of health care workers contract COVID-19 and all of their claims are deemed compensable, workers’ compensation loss costs for that sector could double or even triple in some states, according to an...
