Northbrook, Ill.-based the Allstate Corp. recently announced that Patrick M. O’Brien will lead the combined entities of Allstate Motor Club (AMC) and Partnership Marketing Group (PMG) as president. He will also serve as assistant vice president in the Emerging Businesses …
American International Group Inc. (AIG) announced that it has signed a definitive agreement with the Federal Reserve Bank of New York for a two-year, $85 billion revolving credit facility. Interest will accrue at a rate based on 3-month LIBOR plus …
Architects of a $700 billion bailout plan urged U.S. lawmakers to act swiftly or face dire economic consequences as global stock markets fell for a second day on growing concern the rescue may be delayed. But financial markets got a …
The FBI is investigating Fannie Mae, Freddie Mac, Lehman Brothers Holdings Inc. and insurer American International Group Inc. and their senior executives for potential mortgage fraud, CNN reported on Tuesday. The FBI did not provide specifics but said the inquiries …
A researcher at the University of Iowa has found that tort reform laws do lower insurance premiums and save consumers money, though it depends on where the consumer lives. Ty Leverty, assistant professor of finance in the Tippie College of …
Wisconsin emergency management officials say a lack of communication during the 2008, February snow storm backup taught them how to better respond to this spring’s floods. The state Homeland Security Council issued a report recently criticizing the lack of a …
The Navigators Group Inc. announced that The Navigators Pro division of its principal underwriting agency subsidiary, Navigators Management Co., increased its capacity for directors and officers (D&O) liability insurance. In this heightened litigation environment and against the backdrop of recent …
Universal North America Insurance Co. will begin providing automobile insurance coverage in Arizona and Nevada this month, the company announced. The Universal family of insurance companies already provides homeowners insurance and other coverages to more than 140,000 residents in six …
California Gov. Arnold Schwarzenegger and legislative leaders have agreed to a 2008-09 budget that concludes a very difficult budget negotiation process, addressing the state’s $15.2 billion budget shortfall with a combination of cuts and increased revenues. With the passing of …
A Colorado legislative committee studying the wildfire threat in Colorado is proposing a requirement that all counties have wildfire preparedness plans. The committee also is looking to put $50 million over five years into wildfire mitigation efforts. State Sen. Mike …
