Flood insurers accused by Hurricane Sandy victims in New York of using falsified engineering reports must turn over the drafts to policyholders, a three-judge panel ruled.

Flood insurers accused by Hurricane Sandy victims in New York of using falsified engineering reports must turn over the drafts to policyholders, a three-judge panel ruled.

A Travelers unit was sued by two New York homeowners who accused it of using a doctored engineering report to reject much of their claim for flood damage from Hurricane Sandy, making it the third insurer to face such allegations.

A Hartford Financial Services Group Inc. unit was accused by a lawyer representing Hurricane Sandy victims of using a falsified damage report to dodge paying homeowner claims, the second insurer blamed in the last month for such a practice.

Wright National Flood Insurance and U.S. Forensic, an engineering firm, were sued by New York homeowners who claim the companies conspired to manipulate reports and avoid paying for damages from Hurricane Sandy in 2012.

The failure in 2008 of AIG would have caused mass panic on a global scale, testified Timothy Geithner, the head of the Federal Reserve Bank of New York at the time.

Travelers Cos. must pay more than $500 million to victims of asbestos-related diseases under settlement proposal first approved by a judge in 2004, a federal appeals court in New York ruled.

Data breaches in the state more than tripled from 2006 to 2013, resulting in the exposure of 22.8 million personal records, according to a report released today by New York Attorney General Eric Schneiderman.