Beleaguered U.S. insurance giant American International Group may allow the U.S. government to take control of certain assets should the sale of stakes in various units fail to produce attractive offers, according to a source close to the matter. Another …
Reno, Nev.-based Employers Holdings Inc. reported net income for the fourth quarter of 2008 of $15.9 million compared with $31.8 million in the fourth quarter of 2007. Net income includes amortization of the deferred reinsurance gain related to the loss …
The U.S. Senate Banking Committee has scheduled a hearing on March 5 to examine government aid to insurer American International Group Inc, a source familiar with the hearing said Wednesday. Federal Reserve Board Vice Chairman Donald Kohn is among several …
A key figure in allegations that former House Speaker Ray Sansom misused his previous office as the chamber’s budget chairman has resigned from the board that oversees a state-created insurance company. Confirmation of Jay Odom’s resignation came as a grand …
The Alabama House has passed a bill that adds additional restrictions for some teenage drivers. The House voted 80-10 for the bill that requires some 16 and 17-year-old drivers to have a restricted license. The bill now goes to the …
The state Supreme Court rejected labor union challenges Tuesday to a 2005 law that limited the ability of some injured Missourians to get benefits under the state’s workers’ compensation system. Business groups praised the court decision as a victory, though …
In one of her first moves as Homeland Security secretary, Janet Napolitano has ordered a fresh review of hurricane recovery efforts in the gulf coast 31/2 years after two killer hurricanes swept ashore. In testimony prepared for a congressional hearing, …
Officials of cities along the Red River are preparing for the worst while they await an updated spring flood forecast Friday. Wilkin County, Minn., engineer Tom Richels says the county has lined up pumps and sandbags. He expects conditions similar …
American International Group and U.S. authorities are in advanced discussions over a radical restructuring that would split the insurer into at least three government-controlled divisions in an attempt to keep it afloat, the Financial Times reported on its website, citing …
Conover Insurance of Pasco, Wash., has promoted Steve Hook to vice president in the company’s commercial insurance division. Hook joined Conover Insurance in April 2001 as an account executive in the Commercial Insurance division and primarily concentrates his efforts serving …
