National News for September 2008 Bermuda’s Argo Buys lllinois-Based Professional Liability Manager Insight President Bush Urges Congress to Act After Bailout Bill Failure Wachovia Insurance Services not Included in Citigroup Acquisition Equity Risk Partners Opens New York Office; Expands Nationwide Congress Extends National Flood Insurance Plan Until Next March House Rejects Wall Street Bailout in Surprise 228-205 Vote President Clinton Spotlights LeapFrog, First Microinsurance Firm President Bush: Bailout Helps Protect Economy from Breakdown Wall Street Bailout Bill Leaves Pricing Questions Wide Open House Republicans Offer Insurance Plan to Rescue Wall Street Lawmakers to Tackle Wall Street Bailout Plan Again Today U.S. Court Sides with Bank to Stop Mortgage Loan Class Action Former AIG CEO Greenberg Plans to Sell Some AIG Stock Study Shows Increase in Treatments per Workers’ Comp Claims Lexington Arranges Reinsurance from Berkshire for Property Policies State Regulators Blast Federal Regulation Advocates Over AIG Liberty Mutual Responds to S&P’s Rating Downgrade to ‘A-’ Biden Hits McCain Over ‘Bermuda Loophole’ for U.S. Insurers Atlanta-based Ebix Repurchases Shares of Its Common Stock Travelers Offers Enhancements for Boat Repairers Policy AIG Webcast: Investor Update, Oct. 3 Best to Hold Conference Today on Ike, AIG Rating, Other P/C Events Liberty Mutual Group Completes Safeco Acquisition U.S. P/C Insurers’ Net Income Falls More Than 50% in First Half 2008 Berkshire Hathaway’s Buffett Considering Purchase of AIG Assets Rating Roundup: Liberty/Safeco, CAPCO, Service Travelers, Chubb Stop AIG Surety Business: Marsh AIG Signs Definitive Agreement with Fed of New York for $85B Credit Facility Survey: Why Agents Choose Other Markets Paulson, Bernanke to Go Before Congress Today on Bailout Navigators Increases Directors & Officers Liability Capacity Study: Tort Reform Lowers Premiums, Sometimes FBI Probing Fannie, Freddie, Lehman, AIG for Potential Mortgage Fraud: CNN U.S. Bailout Faces Delays as Goldman Gets $5B Boost from Buffet Surety One Rolls Out Embezzlement Protection for Cafe Owners Insurance Producers Start to Move Business from AIG to Competitors U.S Treasury Secretary Calls AIG ‘a Hedge Fund’ With Little Oversight AIG CEO Liddy Expects Assets ‘For Sale’ List Next Week More to Come in Busy Atlantic Hurricane Season Venture Programs Names DeMarco Preferred Club Executive VP Goldman, Morgan Stanley Convert; AIG CEO Forfeits $22M Severance Credit Rating Agencies’ Cuts on AIG Signal Downgrades Ahead U.S. Financial Rescues Could Approach $2 Trillion AIG’s First Half Showed Slump House Bill Would Extend Flood Insurance Program 7 Months New AIG CEO Liddy: Insurer’s ‘Mess is Solvable’ Liberty Mutual Acquisition of Safeco to Close Sept. 22 Former SEC Head Donaldson Calls for Regulatory Overhaul Why Flood Policy Should Not Include Wind Coverage S&P to Hold Teleconference Today on Credit Crisis A.M. Best: AIG Ratings Remain Downgraded to ‘A’ and Under Review S&P Says AIG Ratings ”Developing;’ Short-Term Ratings Raised Hurricane Ike to Cost Insurers $7B to $12B, RMS Says in Revised Tally Property Insurer Affiliated FM Offers ‘Green’ Endorsement on All Risk Policy AIG Will Sell Assets, But at What Price? Fitch On AIG Rating Watch Revision AIG Board Accused of Mismanagement by Pension Fund AIG Elects Liddy as CEO Key Lawmaker Wants AIG Internal Documents on CEO, Board, Pay State Regulators: Insurer Groups Must ‘Stick to Facts’ on AIG Best Comments on Potential Impact of Hurricane Ike on P/C Industry AIG Woes Offer Double Benefit for Insurance Rivals The Hartford Names Three Execs to Senior Posts AIG Crisis Restarts Debate Over State vs. Federal Insurance Regulation U.S. Looks to Former Allstate CEO Liddy to Run AIG For AIG, $85 Billion Might Not be Enough S&P’s Analysis of Hurricane Season Finds Mounting Losses AIG Rescue at Hand: Government to Take 80% Stake in Exchange for $85 Billion Best Lowers Most of AIG’s Ratings to ‘A’ from ‘A+’ – Still ‘Under Review’ Federal Reserve Statement on $85 Billion AIG Loan Plan Credit Rating Downgrades Hurt AIG Efforts to Raise Cash AIG Statement on $85 Billion Federal Reserve Loan Greenberg Tells CNBC: Saving AIG is in ‘National Interest’ Feds: AIG Rescue Needed Because of Broad Reach Auto Insurers Fail to Catch Most New Shoppers: J.D. Power 757 Graduates Receive CPCU Designation; Total Now Near 65,000 CNBC Reports Federal Government May Loan AIG Funds Greenberg’s C.V. Starr May Try to Take Over Struggling AIG Update: AIG Cash Crisis Mounts; Greenberg Explores Buyout; Conservatorship Reportedly Eyed States May Help AIG; Also Assure Policyholders Claims Will be Paid Democratic, Republican Senate Banking Leaders Cool to AIG Loan S&P Puts AIG’s Ratings On CreditWatch Negative For Independent Agents, Carriers’ Claims Service is Top Performance Measure AIG Shares Plummet as Investors Await Rescue Plan Francavilla to Direct Program Development for AmWins Bank Insurance Brokerage Earnings Break Highest Mid-Year Level Assurant Offers ID Theft Protection for Financial Institutions New York Federal Reserve Hosting Meetings on AIG, Says Official AIG Gets New York Governor’s Help in Accessing $20 Billion AIG Employees on Edge as Once-Safe Company in Turmoil AIG Facing Liquidity Crisis, Seeks $40 Billion Loan from Federal Reserve Four Former AIG Execs Including Greenberg Settle Shareholder Suit Integro’s Egan Resigns; Garvey Assumes Roles as CEO Improved Practice Exams for CPCU, Other Courses Now Offered Online U.S. Subprime Lawsuits Outpace S&L Cases, Study Finds Ferocious Hurricane Ike in Gulf of Mexico, Headed for Texas Wholesaler NIF Adds New Market for Property Risks in 14 States Rating Roundup: Response Group Insurance Execs See Significant Sub-Prime Impact on 2009 Results AIG Loses Its Position as Industry Leader by Market Value Surplus Lines Brokers’ Group Launches Awareness Campaign Westrope Expands Capabilities for Life Sciences Industry InsurBanc Offers Financing for Agencies in Catastrophe Areas States Should Raise Driving Age, Says Insurance Safety Group AIG Shares Plummet on Fresh Mortgage Market Concerns Reinsurers Seeking Sidecars to Ride Out Next Big Storm Hanover Adds Employer Liability Insurance to Small Business Policy Spiro Is Elected CFO of Chubb Travelers Unveils Sting Trailer to Combat Cargo Theft Gustav Could Cost Insurers $8B, Says Swiss Re A.D. Carlton Rolls Out New Market for Artisan Contractors in Ill., Texas Online Broker Upgrades Car Crash Safety Ratings Tool Speer to Lead National Alliance Business Development Team AIG Cos. Introduces Global Supply Chain Distruption Coverage Prosecutors Allege AIG Scheme Cost Investors $1 Billion LIU Launches Global Crisis Risk Management Initiative Report: Credit, Housing Market Woes Slam Mortgage Insurance Industry Crump Launches Exclusive Liability Program for Subcontractor Risks Marsh & McLennan Appoints Ashford Minn. GOP Convention Officials Bought Liability Coverage in First Time Deal GOP Platform Calls for Natural Disaster Insurance Reform Colorado Forecasters Call for Four Hurricanes in September Hurricane Ike Strengthens Rapidly; Hanna Expected to Hit U.S. Saturday Ratings Roundup: Am Farm/Ranch, Great Northwest, Business Alliance PPIB Offers Tattoo, MediSpa, Tanning and Yoga Programs OSHA Offers Gustav Recovery Help Swett & Crawford Offers Hospital Threat and Child Abduction Insurance Wholesaler CRC Insurance Acquires Competitor Southern Risk of S.C. Hudson Insurance Takes Over CropUSA Agency Report: Claims Associated with Violence in the Workplace on Decline Unitrin to Acquire Auto Insurer Direct Response Corp. for $220M S&P, Best: Gustav’s Impact Minimal – But Storm Losses are Cumulative Hallmark Financial Services Acquires Heath Group Report: Highly Satisfied Customers Have Higher Auto Renewal Rates Gustav Insurance Losses Significant but ‘Manageable,’ Less than Katrina’s Hanna Becomes Hurricane Then Stalls; Heads for Georgia, South Carolina U.S. Reinsurers Report Deteriorating Combined Ratio; Decline in Surplus Gustav Impact Limited But Losses from Moderate Catastrophes Add Up Venture Launches Resort Program Conning Research: Niche Focus Spells Success in D&O Market Goodbye Gustav…Hello Hanna, Ike and Josephine National Insurance Crime Bureau President, CEO Bryant Retiring Today Hilb Rogal & Hobbs Acquires San Diego’s G.A. Pearson Insurance Analyst Sees Gustav Insured Loss Coming In Below Early Estimates National News Archives
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