John Degnan News

New Jersey Governor Chris Christie said on Tuesday he has tapped former state Attorney General John Degnan to chair the board of the embattled Port Authority of New York and New Jersey. The board's former chairman, David Samson, resigned in March amid reports that federal prosecutors in Manhattan were looking into a potential conflict of interest between Samson's role as chairman and his private law firm. The bi-state authority has come under intense scrutiny since the so-called Bridgegate scandal erupted early this year…

The Senate Committee on Banking, Housing, and Urban Affairs conducted an oversight hearing on the terrorism risk insurance program. The Honorable Brian Roseboro, Under Secretary for Domestic Finance of the Treasury Department, testified about implementation of the program. He acknowledged that there has been little “up take” of terrorism insurance, but declined to speculate on the reason. Mr. Richard Hillman, General Accounting Office (GAO), testified that significant progress has been made in the implementation of the Terrorism Risk Insurance Act (TRIA), but that Treasury still has numerous tasks unfinished. Mr. John Degnan, The Chubb Corporation, recommended that the TRIA be extended for two additional years. Mr.

International cargo volumes in the Port of New York and New Jersey hit record levels in 2005, New Jersey Governor Jon S. Corzine, Port Authority Chairman Anthony R. Coscia and Port Authority Vice Chairman Charles A. Gargano said today as they revealed new port security initiatives, including a public-private task force and a demonstration of technology to enhance security at the East Coast’s largest seaport. Containerized cargo volumes in the Port of New York and New Jersey rose 7.6 percent in 2005 to a new record high, continuing to exceed the authority’s projected cargo growth levels. The dollar value of all cargo moving through the port exceeded $132 billion for the first time, up 15.6 percent from 2004.