Northeastern Insurance files Chapter 15 in NY over sex abuse claim surge
Bermuda-based Northeastern Insurance seeks Chapter 15 protection in New York after 55 sex abuse claims under NY’s Child Victims Act exceed its assets
🇺🇸 New York Insurance News
New York fines 8 auto insurers $19 mn over cybersecurity violations, data breaches
New York DFS fined eight auto insurers and agencies $19 mn for weak cybersecurity controls that exposed personal data through online quoting systems
New York Life Insurance to unify asset management arms into $785 bn global platform
New York Life will merge its general account and third-party asset units in 2026, creating a $785bn global platform spanning public and private markets
New York Court dismisses lawsuit against social media over Buffalo Mass Shooting
A New York appellate court ruled that social media companies cannot be sued for their alleged role in the 2022 racially motivated mass shooting at a Buffalo grocery store
New York court ordered Millennia Assurance to deposit $4.75 mn
New York court ordered Millennia Assurance Inc. to deposit $4.75 mn in collateral into a trust account after siding with New York Marine and General Insurance
New York Convention overrides Louisiana arbitration ban in insurance disputes
The U.S. Second Circuit Court of Appeals reversed its earlier decision, ruling that arbitration clauses established under the New York Convention
New York Court confirms Rhode Island law applies in Zurich insurance dispute over $8.6mn claim
The New York Supreme Court Appellate Division upheld a lower court’s decision confirming that the applicable law in an insurance dispute
New York attorney general sues Allstate over National General’s cybersecurity failures
Allstate Corp. is being sued by the New York attorney general, who claims its subsidiary, National General Holdings Corp., failed to protect consumer data
New York allows stand-alone business interruption insurance without physical loss
New York passed a law permitting stand-alone business interruption insurance policies that cover closures even without direct physical loss
New York’s 2026 budget proposes Insurance Reforms for for-hire vehicles
New York’s 2026 fiscal year budget includes proposed legislative changes aimed at improving insurance coverage for for-hire vehicles
New York passes law standardizing hurricane windstorm definitions and deductibles
New York has enacted a law to standardize definitions for hurricane windstorms, aiming to create consistency in deductibles and how triggering events are determined
UnitedHealthcare Insurance Company CEO Brian Thompson fatally shot in New York City
In New York City, on Manhattan, the CEO of UnitedHealthcare, a leading American health insurance company, was fatally shot. Brian Thompson sustained a fatal gunshot
Insurtech Foxquilt launched digital insurance products in New York
Insurtech Foxquilt, digital MGA specializing in embedded insurance technology for small businesses, has launched of its digital insurance products in New York
American Transit Insurance, New York’s insurer of taxi cabs, is insolvent by $665 mn
The American Transit Insurance Co., New York’s largest insurer of taxi cabs, is insolvent by approximately $665 mn and must consider all options for recapitalization
NY’s financial regulator wants crypto companies to be more transparent
New York’s financial regulator wants cryptocurrency companies regulated in the state to be more transparent about how they list and delist crypto coins
NY blockchain consortium R3 laid off over 20% of its workforce
The New York-based blockchain consortium R3, backed by investors including Bank of America and Intel, has laid off over 20% of its workforce
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Coinbase, one of the most prominent crypto trading platforms in the US, just rolled out a new capability: decentralized exchange trading done in-app
NFTs have a lot of potential in the metaverse. They provide a way to represent ownership of assets, create scarcity, and monetize content
As insurers worldwide look for ways to modernize operations and enhance client experiences, blockchain offers a compelling solution to long-standing challenges
Multiple indicators suggest the beginning of another “crypto winter,” driven by sharp negative sentiment following the introduction of global tariffs and the risk of further escalation