Hartford, Prudential Among Life Insurers Approved for Treasury Funds
At least four U.S. insurers won approval on Thursday to raise billions of dollars through the government’s bank bailout plan, the U.S. Treasury Department said. Hartford Financial , the No. 4 U.S. insurer and beset by worries about capital, got …
Insurance Exchange, Mandate, Public Option Among Democrats’ Health Ideas
House Democrats are looking at big health care changes, including federal aid to help families earning up to $88,000 pay for insurance and a requirement that all must carry coverage. A document obtained by The Associated Press shows the plan …
Obama Opposes Expanding Flood Insurance Program to Cover Wind Damage
The Obama Administration has come out in opposition to expanding the federal flood insurance program by letting it add coverage for wind damage. The administration said it opposes the expansion because it would further burden the debt-ridden flood program and …
AIG Leaders Grilled on Bailout Repay at Congressional Hearing
American International Group Inc. CEO Ed Liddy met some harsh criticism at a congressional hearing on Wednesday as lawmakers demanded answers on the taxpayer bailout of the giant insurer. Rep. Dennis Kucinich wagged his finger at Liddy, who was brought …
Mild Solar Storm Season Predicted But Major Damage Still Possible
Although its peak is still four years away, a new active period of Earth-threatening solar storms will be the weakest since 1928, predicts an international panel of experts. Despite the prediction, Earth is still vulnerable to a severe solar storm, …
SEC Chief Backs ‘Systemic Risk Council’ Idea
The head of the Securities and Exchange Commission said Friday she favors a new proposal for federal regulators sharing oversight of companies that pose financial risks to the U.S. economy. SEC Chairman Mary Schapiro said she’s “inclined toward” the idea …
Obama to Propose Changes to Taxes on Estates, Punitive Damages
The Obama administration on Monday will propose raising nearly $60 billion over 10 years through changes to the estate tax law and closing certain domestic tax loopholes, an administration official said. Funds raised will go to beef up a health …
SEC Eyes Changes in Reporting of CEO Pay, Risk Management Practices
The Securities and Exchange Commission is considering changing a formula that critics say often allows public companies to low-ball in regulatory filings just how much top executives are paid. At issue is how companies report in a summary compensation table …
U.S. Weighs Government Health Plan to Compete With Private Insurers
U.S. Health and Human Services Secretary Kathleen Sebelius Wednesday said a proposed government health insurance plan backed by President Barack Obama would compete with private insurers rather than lead to a socialized system as Republicans claim. In her first appearance …
