Public anger over the bailout of U.S. financial firms is understandable, but taxpayers should know that American International Group plans to repay the money, chief executive Edward Liddy said in an opinion piece published in The Washington Post Wednesday. “I …
American International Group CEO and Chairman Edward Liddy is among those scheduled to testify before a House subcomittee today on Capitol Hill. The hearing of the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises will be …
The Obama administration turned up the heat on AIG Tuesday over its employee bonuses, saying the embattled insurer will be forced to repay U.S. taxpayers before it gets another bailout of $30 billion. Treasury Secretary Timothy Geithner laid out the …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of Bermuda-based Montpelier Reinsurance Ltd. and Montpelier US Insurance Company (MUSIC), which is based in Oklahoma City. Best also affirmed …
Marsh has analyzed the possible effects of new European legislation designed to protect the environment. The broker points out that “businesses in the UK will now have to pay for any significant damage that they cause to the environment following …
Britain’s Financial Services Authority (FSA) will publish Wednesday a blueprint for a shake-up of global banking regulations aimed at preventing a recurrence of the financial crisis weighing down the world economy. The report, commissioned by British Prime Minister Gordon Brown …
Swiss Re has just released its latest sigma study, which details the toll of disasters that made 2008 “one of the worst years for catastrophe losses” according to the report. More than 240,500 people lost their lives, while the insurance …
Oregon’s 2008 Workers’ Compensation Premium Rate Ranking Study has been released, the Departmnet of Consumer and Business Services announced. The results suggest that Oregon employers in the voluntary market pay, on average, the 39th highest workers’ compensation premium rates in …
San Francisco-based Woodruff-Sawyer announced that James Lopiccolo has joined the firm in Southern California as vice president, corporate and executive protection practice. He will focus on management and professional liability for both public and private companies. Lopiccolo has 18 years …
The Arizona Supreme Court upheld a state law that lawmakers intended to weed out meritless medical malpractice lawsuits by tightening qualifications of expert witnesses. The ruling let stand a legislative move that an acting justice said intruded on the court’s …
