Former U.S. Treasury Secretary Henry Paulson staunchly defended the decision to rescue troubled insurer American International Group Inc. in 2008 and said he and others involved acted properly. In testimony prepared for a hearing Wednesday of the U.S. House of …
Global business leaders warned Western governments on Wednesday that a populist crackdown on the financial industry could crimp a fragile recovery from the worst recession since the 1930s. The worried response to U.S. President Barack Obama’s plans to tax and …
Low-wage workers in Los Angeles experience more wage and labor violations than low-wage workers in Chicago and New York, a study by the UCLA’s Institute for Research on Labor and Employment found. The survey found that low-wage workers in Los …
California Gov. Arnold Schwarzenegger has submitted to the Legislature his proposed 2010-11 budget – calling for “greater reductions in nearly every aspect of state government than were necessary in 2009.” Among the proposed cuts is a decrease of $32.8 million …
Hundreds of levees around the United States protect vulnerable areas and tens of millions of people from potentially devastating floods. Yet hardly anyone gives them a second thought until one is breached. The most glaring example is the wreckage that …
Bills to ban the use of credit scoring, streamline the licensing of agents and brokers, and improve health care are all on Washington’s Office of the Insurance Commissioner’s (OIC) legislative agenda for 2010. Among the proposed changes: Credit scoring: The …
The recent recession and record unemployment rates have increased pressure on the workers’ compensation insurance system to help return injured employees back to work while effectively managing costs. That was one of the messages shared by presenters at the Workers …
State insurance fraud fighting bureaus are seeing a significant spike in fraud cases while trying to manage with lower budgets and staffing in the down economy of 2009. Cases increased in all 15 types of fraud schemes, state agencies said …
The tragedy in Haiti is a reminder of how fragile life can be in developing countries.Despite the massive loss of life and widespread destruction in and around the capital Port-au-Prince, vital rescue efforts have been hampered by a lack of …
Promoting Fear and Insurance in Troubled Times What do P/C producers really sell? Is it insurance policies, protection, or peace of mind? The answer is none of the above. What is actually sold is “fear reduction.” Insurance policies are simply …
