While the extensive Citi Bike user agreement has a lot of small print, detailing important things like overdue charges and optimal weather conditions, it fails to mention insurance. That’s because the Citi Bike program doesn’t offer any, not even as an option.
Without insurance, Citi Bikers are responsible for all damages incurred while using the Read More
A Matter of Policy
Gov. Andrew Cuomo inserted himself into a potential tug-of-war between insurance companies and policy holders yesterday, declaring that insurers should not trigger hurricane deductibles for damages incurred during the storm that rocked New York this week.
If invoked, hurricane deductibles would prove costly for New York’s homeowners, with the deductibles typically ranging from 1 to Read More
Andrew Cuomo has an ambitious agenda ahead of him. He wants to change the culture of Albany, get the state’s finances in order, restore New York to its former greatness, reform pensions and benefits, talk sense to pork-hungry state legislators and, who knows, perhaps position himself for greater things to come.
That’s a pretty impressive Read More
Julian Assange has a cache of super sensitive documents that he has threatened to release if any harm should come to him.
Today, reports Daily Intel’s Nitasha Tiku, Assange told British reporters that these files include, “504 US embassy cables on one broadcasting organization and there are cables on Murdoch and News Corp.” Read More
Absolute Return -- To Hell
With fish and birds (sort of) mysteriously dying and 2012 a mere 358 days away, insurance companies are ratcheting up their bets that the end-times are upon us. The New York Times‘ Azam Ahmed reports that “catastrophe bonds,” securities that respond when disasters like hurricanes and earthquakes strike, are Read More
Sir Allen Stanford, alleged head of a $7 billion Ponzi scheme, will not be allowed to use a $100 million insurance policy to pay for his defense against the charges, Bloomberg reports.
A Houston federal judge said that Stanford probably laundered money, and (this is a little surprising) he should have told his Read More
Tomorrow at 8 a.m., the U.S. Treasury Department will auction off more than 52 million warrants to purchase shares in Hartford Financial Group. Treasury had gotten the warrants, which give the bearer an option to buy Hartford shares for $9.79 a share. The warrants are in the money; Hartford shares are currently at $22.83 in Read More
In a move that could significantly trim the enormous tab it owes the government, AIG has applied with the Hong Kong Stock Exchange to register its AIA life-insurance unit for an IPO, according to Reuters.
The IPO could bring in something like $15 billion for the former Wall Street titan and current poster Read More
Insurance specialist law firm Hargraves McConnell & Costigan has jumped from the Graybar Building at 420 Lexington Avenue to 230 Park Avenue, signing a 10-year lease for 10,000 square feet. Landlord Monday Properties will build out the space as part of the deal, and the firm will relocate in the fall.
Matthew McBride of CB Read More