Articles by Claire Ballentine and Laura Nahmias

Update: NYC’s Largest Cab Insurer Ordered to Explore Sale After Losses

New York’s insurance regulator ordered American Transit Insurance Co. to immediately find capital and explore a sale in a damning report laying out its severe financial condition. The report laid out dozens of potential financial improprieties and accounting problems at …

New York Regulator Orders Taxi Insurer to Weigh Sale After Losses

New York’s insurance regulator issued a damning report laying out the severely flawed financial condition of New York’s largest insurer of taxis and for-hire vehicles, as well as dozens of potential financial improprieties and accounting problems, warning that the consequences …

New York City’s Biggest Taxi Insurer Is Insolvent, Risking Transit Meltdown

In an unassuming white and blue office building in Freeport, a few miles into Nassau County, sits the headquarters of American Transit Insurance Co. The 52-year-old, family-owned firm is hardly a household name, but it’s vital to how New Yorkers …

Thief Steals $1.3 Million Watch. Now What?

An Azerbaijani tourist’s carefree Ibiza getaway came to an abrupt halt last week when a pickpocket reportedly stole his Richard Mille watch, one of the most expensive ever made. The 22-year-old’s watch, an RM 50-03 Tourbillon Split Seconds Chronograph Ultralight …

Insurers’ Firefighting Teams Move to Limit Damage from California Wildfires

California’s raging wildfires are so bad that American International Group Inc. and Chubb Ltd. are deploying teams of specialists and former firefighters to spray retardants on homes. The season may soon rank among the industry’s most costly. The latest blazes …