Both leaders of the U.S. Senate Banking Committee Tuesday expressed reservations about the federal government intervening to help insurer American International Group Inc. Connecticut Democratic Sen. Christopher Dodd, chairman of the financial market oversight panel, said he is generally “skeptical” …
State insurance officials from Pennsylvania and New York, where troubled American International Group’s insurance subsidiaries have a an estimated $120 billion in assets, are offering to assist AIG in raising much-needed cash by swapping its insurance subsidiaries’ liquid assets for …
American International Group Inc. shares sank 48 percent on a report that regulators might take control of the giant insurer, though a U.S. government source said federal agencies do not have legal authority to put AIG into a conservatorship. Bloomberg …
Denver-based Van Gilder Insurance Corp. has announced the creation of a new business unit to meet the risk management needs of the healthcare industry. The new unit will be called the Healthcare Specialty Business Practice, and it will serve hospitals, …
A company led by Hank Greenberg, a former chief executive of American International Group, may try to take over the insurer in a proxy fight or tender offer, according to a regulatory filing. Greenberg’s company, C.V. Starr, said in a …
Financially sound unaccredited reinsurance companies can now conduct business in Florida without having to post 100 percent collateral. The Florida Office of Insurance Regulation announced that the Florida Cabinet, in its capacity as the Financial Services Commission, approved the rule …
The Ohio Department of Insurance is advising residents to move quickly to check for storm damage to homes and vehicles. Insurance Director Mary Jo Hudson says if your property was hurt by high winds on Sept. 14, take notes and …
American International Group Inc. shares plummeted after the insurer’s credit ratings were cut, heightening concerns it might file for bankruptcy and further upset the global financial system. In late-morning trading, AIG shares were down $2.29, or 48.1 percent, at $2.47 …
The American Institute for CPCU honored 757 new graduates of the Chartered Property Casualty Underwriter (CPCU program at the 2008 CPCU conferment ceremony in Philadelphia, Pa., the birthplace of the CPCU designation. The 2008 class brings the number of CPCU …
More than 48 hours after Hurricane Ike swamped the U.S. Gulf Coast and forced hundreds of thousands of people from their homes, rescuers flew for the first time Monday into areas cut off by the storm, evacuating survivors and finding …
