East News

Chubb Agrees to Defend Basketball Hall of Fame Against Unlawful Funding Claims

The Basketball Hall of Fame has succeeded in getting Chubb subsidiary Federal Insurance Co. to defend it in a case accusing the museum of unlawfully securing funds for renovations to its facility. Documents filed in the U.S. District Court for …

Prosecutors Oppose Release of Alleged Restoration Extortion Gang Leader

The alleged leader of a gangland extortion ring that took control of the New York City fire restoration industry can be heard on recordings threatening to kill competitors and ordering an attack on a rival firm’s employee, federal prosecutors say …

Beware of Foraging Bears in Hyperphagia Dealing With Acorn Shortage

Wildlife officials in Connecticut are warning residents against feeding bears particularly over the next few months as the animals step up their hunt for the extra food they will need before hibernating for the winter. According to the Connecticut Department …

New York Proposes Changes to Financial Services Cybersecurity Regulation

More small financial services businesses will be exempt, the rules will be tailored to reflect more diversity in businesses, and top executives of financial services firms will face heightened accountability under proposed changes to New York’s model financial services cybersecurity …

New Jersey Workers’ Compensation Rates to Drop 6.1% for 2023

New Jersey workers’ compensation and employer liability insurance rates will be cut an average 6.1% beginning January 1, 2023. The reduction is more than the 4.7% decrease that industry’s rating bureau had recommended. Insurance Commissioner Marlene Caride revised the figure …

Sandy Hook Families Urge Substantial Punitive Damages for Jones

A lawyer for Sandy Hook families said Monday that significant punitive damages need to be imposed on Alex Jones to deter him and other conspiracy theorists from continuing to tell their followers the 2012 Newtown shooting was a hoax, in …

Ambac Acquires New Jersey Commercial Auto MGU and Marine Broker

Financial services holding company Ambac Financial Group, Inc. announced that it has acquired majority stakes in both All Trans Risk Solutions, LLC and Capacity Marine Corp, both of Mahwah, New Jersey. All Trans is a managing general underwriter (MGU) specializing …

Brown & Brown Dealer Services Buys Connecticut Auto Dealer F&I Firm

Brown & Brown Dealer Services has acquired Finance Builders, a Canton, Connecticut firm providing finance and insurance (F&I) products and sales support to auto dealers in Connecticut and Massachusetts. The Finance Builders operations, owned by Donald Ellis, will become part …

World Insurance Acquires CDR Group in Connecticut

National insurance broker World Insurance Associates reports that it acquired CDR Insurance Group, Inc. of Waterbury, Connecticut on October 1, 2022. CDR was founded in 1992 by Rick Rice. The agency provides commercial and personal insurance products and services in …

Rochester Diocese $55M Sex Abuse Settlement Does Not Include Insurance Amount

The Roman Catholic Diocese of Rochester will pay $55 million to survivors of sexual abuse committed by clergy members under a settlement announced by Rochester Bishop Salvatore Matano last week. The $55 million from the upstate New York diocese, its …

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