Articles by Ben Berkowitz

S&P Cuts Rating on Buffett’s Berkshire Holding Company But Not Insurance Units

Warren Buffett’s Berkshire Hathaway Inc. had its credit rating cut one notch by Standard & Poor’s, which cited a new methodology for evaluating insurers and Berkshire’s dependence on its insurance business for dividend income. The rating was cut to “AA” …

Boston Marathon Bomb Victims May Turn to BAA Insurance, Central Fund for Compensation

Victims of the Boston Marathon bombings will eventually win some kind of compensation, but it is far too early to know how much money there will be, whether private donors or insurers will provide most of it, and how long …

Bond Insurer MBIA Wins Dismissal of Bank Claim Over Restructuring

MBIA Inc. on Monday won the dismissal of a lawsuit by Bank of America Corp. and Societe Generale SA challenging its 2009 restructuring, sending the bond insurer’s shares up 24 percent. New York Supreme Court Justice Barbara Kapnick said Eric …

AIG Decides Not to Join Bailout Lawsuit Against Government

The board of American International Group Inc. decided on Wednesday not to join a lawsuit against the U.S. government over the terms of the company’s bailout, following two days of fevered backlash from Congress and the public over the prospect. …

AIG Board Meets on Possible Bailout Lawsuit vs. Government

The board of American International Group Inc. met on Wednesday to consider a lawsuit against the U.S. government over the terms of the company’s bailout, a discussion directors defended as their responsibility but one that critics condemned as the height …

AIG Says It Has Obligation to Consider Bailout Lawsuit; Critics Pounce

American International Group Inc., the insurer rescued by the U.S. government in 2008, said on Tuesday it is considering joining a lawsuit that claims the bailout terms were unfair, drawing angry condemnation from lawmakers. A leading congressional Democrat called criticism …

AIG’s $4.8 Billion Sale of Aircraft Unit to Chinese Group Faces U.S. Security Review

American International Group Inc. is to sell nearly all of ILFC , the world’s second-largest airplane leasing business, to a Chinese consortium for up to $4.8 billion, giving the fastest growing aviation market easier and cheaper access to planes. Chinese …

UPDATE: Chinese Group to Buy AIG’s Plane Leasing Unit for up to $4.8 Billion

American International Group has agreed to sell nearly all of ILFC , the world’s second-largest airplane leasing business, to a Chinese consortium for up to $4.8 billion, giving the fastest growing aviation market easier and cheaper access to planes. Chinese …

Superstorm Sandy Will Test Federal Flood Insurance Program

Superstorm Sandy is threatening to drag the U.S. government’s debt-ridden flood insurance program back into the political crosshairs just months after Congress attempted to put the controversial program on a sound financial footing. It is unclear if claims from Sandy, …

Post-Sandy Snowstorm Causes New Damage, Complicates Business Insurance

Businesses in New York and New Jersey that were preparing insurance claims for losses from Superstorm Sandy now have a second headache: how to deal with new losses from an early winter snow storm. The snow and wind from the …