U.S. Sen. Lindsey Graham says South Carolina farmers who have been battling drought conditions are now eligible for low-interest loans after federal agriculture officials declared disaster areas throughout the state. Graham announced on Sept. 15 that the U.S. Department of …
The American Insurance Association says three measures on the way to California Gov. Arnold Schwarzenegger’s desk should be vetoed because they will increase employers’ costs for workers’ compensation, weaken the utilization review process and bring uncertainty back to the system. …
Florida-backed Citizens Property Insurance Corp. will host a series of policyholder forums in Miami-Dade, Broward and Palm Beach Counties from Sept. 23-25. “Citizens proactively seeks input from our policyholders through these forums,” said Paul Palumbo, Citizens’ senior vice president of …
Insurers are not allowed to bring equitable subrogation actions premised on professional negligence against attorneys, the Colorado Court of Appeals has ruled. According to State Farm Fire and Casualty Co., as subrogee of Running Bear Homeowners Association v. Robert G. …
The government rescue of insurer American International Group Inc was necessary, in contrast to Lehman Brothers, because the insurer has extensive ties to other firms and retail products, senior Fed staff said on Tuesday. Financial markets were more prepared for …
On Sept. 16 at 11:25 p.m. EDT, the board of directors of American International Group Inc. issued the following statement in response to the announcement by the Federal Reserve Board that the Federal Reserve Bank of New York will provide …
State Farm Fire & Casualty Co. paid $250,000 to settle a lawsuit brought by a Biloxi, Miss. couple over damage to their home from Hurricane Katrina in 2005. Terms of the settlement were not disclosed Sept. 15 in U.S. District …
On Sept. 16 at 9:00 PM EDT, the Federal Reserve issued the following statement on AIG: The Federal Reserve Board on Tuesday, with the full support of the Treasury Department, authorized the Federal Reserve Bank of New York to lend …
An $85 billion government rescue of insurer American International Group Inc. looked increasingly likely Tuesday to stave off a bankruptcy that would have thrown world markets back into turmoil. The Federal Reserve will extend AIG $85 billion in exchange for …
