Deteriorating economic conditions threaten a massive wave of corporate defaults. Corporate borrowers’ inability to fulfill debt obligations could prompt a bankruptcy filing surge and lead to lawsuits as creditors and shareholders seek to recoup their losses. These claims could present …
AIG American International Group is taking down the most prominent sign at its downtown Manhattan offices. According to a Reuters report, a spokesman said the company had decided to replace the large AIG sign — outside the entrance to its …
Overcome Fear, Uncertainty and Doubt in Agency Offices In a recession, it’s an easy decision to stop promoting your agency until the economy kicks back into gear. But is it the right one for your business? Marketing hibernation eliminates the …
World leaders clinched a $1.1 trillion deal on Thursday to combat the worst economic crisis since the Great Depression and said financial rules would be tightened to stop it happening again. U.S. President Barack Obama declared it a “turning point” …
Where President George W. Bush was known for his “cowboy diplomacy,” his successor, President Barack Obama wants to be known as a listener and a builder of bridges. Taking his first major foreign trip since becoming president in January, Obama …
New York Insurance Superintendent Eric Dinallo signed a cooperation agreement earlier this week with his counterpart in Macau, a move signaling the increasingly international approach to regulation for the country’s highest profile state commissioner. The agreement, signed Monday by António …
The failure of a century old earthen canal in northern Nevada that sent flood waters into hundreds of homes on a frigid night in January 2008 was only the beginning of a nightmare for a rural irrigation district. The flood …
Standard & Poor’s Ratings Services stated that its ratings on the core operating companies of Italy’s Generali Group (AA/Negative/–) are unaffected by the termination of the agreement relative to the joint venture Intesa Vita, which will not be renewed. “Alleanza …
Wall Street faces curbs on risk taking and the prospect of lower profits under sweeping U.S. proposals to prevent a repeat of the credit crisis. The Obama administration’s plan to rewrite financial rules, announced Thursday, would create a single regulator …
Kansas City, Mo.-based Westrope has added Joost Hol to its West Coast office in downtown Los Angeles. Joost is a property insurance professional who handled national and international property risks for AIG until 2007. After leaving AIG, he attended the …
