New York News

California Self-Insured Group Declared in Default

The Contractors Access Program of California (CAP), a self insured group, has been declared in default due to insufficient funding required for continued operation, California’s Department of Industrial Relations (DIR) Director John C. Duncan announced. Duncan said the default was …

Insurance Mergers Complicated by Economy, Low Valuations, Hidden Risks

With organic growth difficult in the current economy and soft market, there could be an increase in insurance industry merger and acquisition activity over the next 12 to 18 months, according to mergers and acquisitions experts. But the experts at …

New Markets

The following markets were selected from the MyNewMarkets database of 25,000 coverages and programs. To find additional markets, or to submit markets, go to www.MyNewMarkets.com. A-Side Directors & Officers Market Detail: Great American Insurance Group’s Executive Liability Division offers A-Side …

It Figures

$25 Million Amount to be paid by Exxon Mobil Corp as part of a settlement to clean up a decades-old oil spill in New York City. The settlement requires Exxon to conduct a comprehensive cleanup of its Greenpoint facility in …

People

Massachusetts agency Provider Insurance has hired Sharon Cardoso as personal lines account manager. She will be responsible for acquiring new clients and expanding existing client accounts in the personal lines division which includes managing auto, home and umbrella policies in …

Declarations

Drunk Driving Suit “It’s crazy that they have the ability to do this behind bars. Inmates have too many rights. They’re the ones who committed the crimes, not us. And we’re the ones who suffer more.” —Joanne Kenney, a Connecticut …

New York Eases Some Workers’ Compensation Policy Rules

New York has eased some workers’ compensation insurance requirements for out-of-state businesses that do only occasional, non-construction work in the Empire State. The rule change comes after years of lobbying by agents and their trade groups in the state. The …

Insurance Outsourcing Need Not Be a Foreign Concept

As more and more experienced insurance agency and carrier employees discover their retirement income isn’t what they thought it would be, many are happy to find work they can do from home to supplement their incomes. That’s where Sharon Emek …

New York Agents Lose Court Battle over Compensation Disclosure

New York agents failed to make their case that insurance regulators cannot require agents and brokers to disclose their commissions, a Supreme Court judge has ruled. That decision by Supreme Court Justice Richard M. Platkin ends for now a legal …

People

Aon Corp. reported that Andrew Appel, the firm’s chief operating officer, will be leaving the company at the end of the year. The company said there are no plans to fill the position upon Appel’s departure. Appel has held multiple …