A report from Standard & Poor’s Ratings Services’ Paris office – “Global Financial Institutions Eye Another Wave Of Write-Downs As U.S. Housing Woes Spread -” forecasts that global financial institutions “will face more securities write-downs combined with rising loan losses …
AIG’s insurance companies are financially sound, with substantially more in assets than they need to pay all valid present and projected claims, New York Insurance Superintendent Eric Dinallo said. Dinallo also announced he would issue notices to insurance companies, agents …
New York state Attorney General Andrew Cuomo said he has issued subpoenas as part of “an aggressive and expeditious” probe into reports of unusually high levels of disability benefits paid to Long Island Rail Road retirees. Cuomo said he had …
Gov. Marc Racicot, president of the American Insurance Association (AIA) sent a letter to U.S. Secretary of Homeland Security Michael Chertoff assuring him that the insurance industry is fully engaged in the recovery from Hurricane Ike. Racicot indicated Chertoff had …
Entergy Corp., parent of utility companies that serve a four-state area walloped by hurricanes Gustav and Ike, said it expects damage from Gustav alone to be up to $600 million. Just how much more Ike tacked on to the bill …
Three businesses were destroyed in a fast-moving fire in a western Kentucky industrial area. The Paducah Sun reports there were no injuries in the blaze that started on Sept. 18 at More Power Diesel in Reidland about 2 p.m. CDT. …
The cost to Hawaii businesses for workers’ compensation premiums may be cut for the sixth straight year as officials say workplaces have become safer. The National Council on Compensation Insurance has filed a request with the state Insurance Division for …
In the wake of the deadly train collision in Los Angeles, California’s U.S. senators are questioning a federal law that sets a $200 million limit on damage payouts to victims of a train crash. With 25 dead and more than …
Sandi Quezada of Chino Hills, Calif. recalled an applicant suffering from back pain who became pregnant. The client filed a claim on the grounds the anti-inflammatory agent in her pain medication neutralized her birth control, resulting in the pregnancy. She …
A landowner is suing AT&T over a telecommunications cable on his property in a case a lawyer says might throw wide open the issue of cables buried in North Dakota road ditches. The lawsuit against AT&T Corp. and AT&T Communications-East …