Mississippi Gov. Haley Barbour has signed legislation to help control insurance costs for coastal property owners. Business supporters of the bill contend it will also serve as an economic stimulus. The bill appropriates a total of $40 million for the …
California Insurance Commissioner Steve Poizner announced that he will launch an effort to probe insurance company investments for ties to Iran and immediately direct California-based insurance companies to divest any direct holdings in the Iranian government. “State law prohibits California …
Hartford Financial Services Group Inc. said Friday it has taken $3.4 billion of federal bailout money, the maximum it was authorized to accept, to bolster capital in the wake of large investment losses. The Hartford, Connecticut-based company is one of …
One of the Nationwide Tour’s top events slashed its purse nearly in half because of a lack of sponsorships. This week’s Players Cup at Pete Dye Golf Course in West Virginia will award $600,000 in prize money, down from $1 …
More than 3,400 Americans will be injured or killed by a defective Chrysler or General Motors vehicle during the first year of the car makers’ bankruptcies, according to a report by a consumer safety advocacy group. The report predicts that …
The Group of North American Insurance Enterprises (GNAIE) has joined a new coalition of trade associations, representing all sectors of the economy and areas of the financial services arena, that will engage the Financial Accounting Standards Board (FASB) and the …
California Insurance Commissioner Steve Poizner said he is “troubled by the details of the proposal” to sell some assets of the state’s workers’ compensation insurance, State Compensation Insurance Fund (SCIF). Gov. Arnold Schwarzenegger in his 2009-10 May Revision General Fund …
California Gov. Arnold Schwarzenegger is proposing to sell a portion of the state workers’ compensation insurer State Compensation Insurance Fund for $1 billion, Rachel Cameron, deputy press secretary for the governor, confirmed. In his 2009-10 May Revision General Fund Proposals, …
AIU Holdings, the property/casualty division of insurer AIG and one of the world’s largest commercial insurers, has tapped Robert Schimek to be its first global chief financial officer, a role that includes preparing the company for a stake sale. AIU …
Warren Buffett said Wednesday that the U.S. economy has “no bounce” and will take time to recover, but there is no risk of deflation to push it further into despair. Speaking on CNBC television, the world’s second-richest person also praised …
