January 7, 2007
Shortly after former Enron CEO Jeffrey Skilling’s Oct. 23, 2006, sentencing, the Enron Task Force said it was closing down, with its mission mostly complete. Yet did that event really signal an endpoint in the Enron criminal scandal? Perhaps it’s …
January 7, 2007
Despite Katrina lessons, Congress keeps extending flood insurance The federal flood insurance program may be going broke after incurring $20 billion in debt from recent storms like Hurricane Katrina. But that hasn’t stopped politicians from trying to extend the taxpayer-subsidized …
January 7, 2007
News Currents Driven by a sharp decline in catastrophe losses from hurricanes and other natural disasters in 2006, the U.S. property/casualty industry posted a $24.4 billion net gain on underwriting through nine months. The net gain on underwriting through nine-months …
January 2, 2007
Romania and Bulgaria, two of Europe’s poorest countries, officially became members of the European Union on New Year’s Day, bringing the total to 27. Celebrations in Bucharest and Sofia greeted the two countries’ new status. The EU now numbers nearly …
January 2, 2007
Outgoing California Insurance Commissioner John Garamendi said “California is not prepared for the financial consequences of a major disaster” and more work needs to be done to improve the state’s workers’ compensation system. At his final Capitol news conference as …
December 29, 2006
Birmingham headquartered Infinity Property and Casualty Corp. announced the latest phase of its growth plan, which promises to benefit Alabama’s economy and create new jobs. Assisted by incentive packages from the city of Birmingham, Jefferson County and the state of …
December 28, 2006
The federal flood insurance program may be going broke after incurring $20 billion in debt from recent storms like Hurricane Katrina. But that hasn’t stopped politicians from trying to extend the taxpayer-subsidized coverage for some of the riskiest — and …
December 27, 2006
China Life Insurance Co. says it will set a price this week for an initial public offering on Chinese markets that could raise up to 28 billion yuan (US$3.6 billion; euro2.8 billion). The company would become the first Chinese insurer …
December 27, 2006
Driven by a sharp decline in catastrophe losses from hurricanes and other natural disasters in 2006, the U.S. property/casualty industry posted a $24.4 billion net gain on underwriting through nine months. The net gain on underwriting through nine-months 2006 stands …
December 25, 2006
From Maine to Virginia, agents and adjusters helped property owners dig out from damaging floods. High waters seemed to hit a new state every week. Meanwhile, these same agents had to worry about whether their income was at stake due …