New York Insurance Department

• N.Y. Appellate Court Upholds Reg. 194

  By Arthur D. Postal  |  March 8, 2012

  A New York state appellate court panel today upheld a lower court decision dismissing an appeal by New York property and casualty insurance agents of a rule requiring agents to make greater discloser of their compensation.

• Lloyd’s Allowed to Post Reduced Collateral in N.Y.

  By Caroline McDonald, PropertyCasualty360.com  |  July 29, 2011

  Lloyd’s says it has received approval from the New York Insurance Department to post reduced collateral on reinsurance contracts.

• Alterra Can Enter N.Y. Market With Reduced Collateral

  By Chad Hemenway, PropertyCasualty360.com  |  July 8, 2011

  Alterra Capital Holdings Ltd. says reinsurance subsidiary Alterra Bermuda has been approved by the New York Insurance Department to post reduced collateral when doing business in the Empire State.

• MBIA Posts $1.1B 1Q Loss, An Improvement Over Last Year

  By Mark E. Ruquet, PropertyCasualty360.com  |  May 11, 2011

  MBIA narrowed its first-quarter net loss by more than $340 million as the company saw a steady decline in loss severity in its structured-finance obligations.

• Banks Say MBIA Undervalued Losses By As Much As $10B

  By Mark E. Ruquet, PropertyCasualty360.com  |  March 24, 2011

  A group of banks seeking to prevent guaranty insurer MBIA from splitting into two companies says the company underestimated its losses by as much as $10 billion to the New York Insurance Department.

• #8 Major Brokers Start Accepting Contingents Again--With One Exception

  By Mark E. Ruquet, PropertyCasualty360.com  |  December 20, 2010

  After five years of being subject to what some publicly argued was an unlevel playing field, state attorneys general relented, agreeing to lift the ban and allowing the three major insurance brokerage firms.

• Social Media Presents Both Risks, Opportunities

  By Howard Mills  |  October 18, 2010

  Ever heard of the Fujiwara effect? It's when two tropical cyclones come in such close proximity that they actually begin to orbit one another.

• Homeowners Market Moves Spark Confrontations With Trio Of Regulators

  By Chad Hemenway, PropertyCasualty360.com  |  October 4, 2010

  Homeowners insurance controversies have made headlines in Florida, Mississippi and New York of late, as insurers and regulators struggle to maintain a viable catastrophe coverage market, and in some cases butt heads over rates and exposure.

• MMC To Pay Ohio $4.75M To Settle Bid-Rigging Suit

  By Mark E. Ruquet, PropertyCasualty360.com  |  October 4, 2010

  Marsh & McLennan Companies has agreed to pay Ohio $4.75 million to settle an antitrust lawsuit.

• MMC To Pay Ohio $4.75M To Settle Bid-Rigging Antitrust Suit

  By Mark E. Ruquet, PropertyCasualty360.com  |  September 28, 2010

  Marsh & McLennan Companies agreed to pay Ohio $4.75 million to settle an antitrust lawsuit stemming from allegations that the company's insurance brokerage firm engaged in a bid-rigging and kickback scheme in return for lucrative contingent commissions.