These are historic times. The country and the world are learning the hard way how intertwined the insurance industry is with the global economy. A respected private insurer — American International Group — called too big to fail had to …
Swiss Re announced a partnership with Zurich-based CelsiusPro to offer weather risk transfer solutions to European companies. Swiss Re said it would “provide the risk capacity and expertise to support CelsiusPro’s online platform. The partnership allows companies to enter into …
Banks in Texas, particularly those in the Houston metropolitan area and rural areas of the state, continue to perform better than banks across the rest of the nation, reported Sheshunoff & Co. Investment Banking, a merger and acquisitions valuation advisory …
The House of Representatives voted 263-171 to pass a $700 billion Wall Street rescue bill and sent it to President Bush, who signed it into law this afternoon. The Senate passed the measure earlier this week. The House had defeated …
Shockwaves from the global credit crisis spread on Thursday, threatening industry and jobs worldwide and putting pressure on the U.S. Congress to finish up a $700 billion bailout of the U.S. financial sector. The fate of the rescue plan, passed …
Leaders in the U.S. Congress have deployed their best weapon for winning passage of a $700 billion financial industry bailout just weeks before the elections, attaching tax cuts to an otherwise bitter pill. The Senate aims to vote at some …
Legal malpractice claims related to real estate are up approximately four percentage points according to the just-released American Bar Association study of legal malpractice claims for 2004-2007 compared to the previous study covering 2000-2003. As real estate values have fallen …
The financial crisis gripping the United States has senior finance executives more likely to be concerned about their firms’ risk management practices (72%) than they are about such issues as accessing both long-term debt financing (65%) and short-term financing (61%), …
The U.S. property/casualty insurance industry’s net income after taxes fell 57.4 percent to $13.9 billion in first-half 2008 from $32.7 billion in first-half 2007. The insurance industry’s overall profitability as measured by its annualized rate of return on average policyholders’ …
President Bush Tuesday said the U.S. economy was depending on decisive action from the government on a financial bailout plan or the economic damage could be “painful and lasting.” “I assure our citizens and citizens around the world that this …
