New NY insurance rules needed due to disagreements: official

Thu Nov 29, 2012 5:19pm EST

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(Reuters) - New York State implemented emergency regulations requiring insurance companies to adjust claims related to superstorm Sandy more quickly, after the industry was unable to agree on a voluntary program, an official with the administration of Gov. Andrew Cuomo said on Thursday.

The official, speaking on condition of anonymity, said a number of large insurers would not give the state a firm commitment to adjust claims as fast as regulators wanted.

(Reporting By Ben Berkowitz)


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.