Responding to the federal government’s bail-out of AIG, California Insurance Commissioner Steve Poizner issued the following statement, noting the two dozen companies under the AIG corporate umbrella that are licensed to sell insurance in California. “I have made monitoring the …
Hawaii Pacific University has instituted a graduate program in insurance and risk management. According to Hawaii Insurance Commissioner J.P. Schmidt, “HPU’s graduate insurance program is the first in the West. Many corporations, as well as insurance companies, have an increasing …
A.M. Best Co. has reported that all financial strength ratings (FSR) and issuer credit ratings (ICR) of American International Group, Inc. (AIG) and its subsidiaries are unchanged from the downgrades it issued earlier this week. The “under review with negative …
American International Group, Inc. (AIG) announced that its board of directors has elected Edward M. Liddy as chairman and CEO. Liddy, 62, succeeds Robert B. Willumstad. Stephen F. Bollenbach, who was named lead independent director in June 2008, continues in …
Standard & Poor’s Ratings Services has lowered its long-term counterparty credit rating and insurer financial strength rating on AIG General Insurance (Taiwan) Co. Ltd. (AIG Taiwan), to ‘A’ from ‘A+’. S&P also placed the ratings on CreditWatch with negative implications. …
California Insurance Commissioner Steve Poizner, a wealthy Silicon Valley entrepreneur with a centrist political style, took an initial step toward seeking the Republican nomination for governor in 2010. Poizner filed papers with the secretary of state’s office to form an …
In response to consumer inquiries about insurance companies owned by the troubled financial conglomerate, American International Group (AIG), Washington Insurance Commissioner Mike Kreidler issued the following statement to policyholders: “Many policyholders have expressed concerns in light of the recent news …
Hawaii’s Department of Commerce and Consumer Affairs’ (DCCA) Insurance Division announced that the National Council on Compensation Insurance (NCCI) has filed a request for a decrease of 11.6 percent in the workers’ compensation loss costs. The filing would affect premiums …
Both Arkansas Insurance Commissioner Julie Benafield Bowman and Louisiana Commissioner of Insurance Jim Donelon have issued statements seeking to reassure policyholders in the wake of the federal takeover of insurance giant American International Group (AIG). Bowman said she joined with …
On Sept. 17, Fitch Ratings revised its Rating Watch on American International Group Inc. (AIG) and its subsidiaries to Evolving from Negative following the announcement that its board has approved a transaction under which the Federal Reserve Bank of New …