Latest News in Home Insurance – March 16, 2009
Insurance Scam Targets Detroiters – WXYZ
16 Mar 2009 at 4:50pm
There is a warning out about the Fender Bender Insurance Company. State officials say the company is a fake, and any papers and certificates drivers are getting from Fender Bender are phony as well. A house on Chelsea was listed as the Fender Bender …
Taxpayers unlikely to be fully repaid in AIG mess – Associated Press
16 Mar 2009 at 9:29pm
Pressure is mounting on the government to revise its bailout of AIG to ensure that taxpayers are repaid as much as possible of the $170 billion lent to the troubled insurer. Experts warn we shouldn’t expect to get much back. The problem stems from …
Asian Stocks Gain for Third Day on Policy Optimism; HSBC Rises – Bloomberg
16 Mar 2009 at 9:36pm
March 17 (Bloomberg) — Asian stocks gained for a third day, the longest winning streak in seven weeks, as Australia’s central bank signaled it may cut interest rates and Standard Chartered Plc reported a “strong” start to 2009. Woolworths Ltd …
Argues recession may help business – Nassau Guardian
16 Mar 2009 at 9:08pm
This country’s newest insurance brokerage firm is identifying recession and the consumer’s increased need to shop around as likely drivers of business. “Insurance is a still a necessity,” Dashwell Flowers, head of the newly-minted Assured Financial …
Obama berates AIG and vows to try to block bonuses – Associated Press
16 Mar 2009 at 9:29pm
WASHINGTON (AP) — Joining a wave of public anger, President Barack Obama blistered insurance giant AIG for “recklessness and greed” Monday and pledged to try to block it from handing its executives $165 million in bonuses after taking billions in …
State official accuses Boca Raton insurer of using unlicensed agents – Fort L…
16 Mar 2009 at 5:04pm
People’s Trust Insurance, a property insurer based in Boca Raton, faces suspension for allegedly using unlicensed agents. Chief Financial Officer Alex Sink said today that her office’s investigation of the insurer found that the company committed …
We’ve Got Company – Wall Street Journal
16 Mar 2009 at 4:50pm
The Washington Post reports that the new president has undertaken a sharp break from his predecessor’s foreign policy. Oh wait, actually that overstates the case. The policy is the same, but the semantics are new: The Obama administration [Friday …
Detroit councilman Kenyatta, candidate for mayor, defaults on mortgage – Detr…
16 Mar 2009 at 9:58pm
DETROIT — Kwame Kenyatta, a city councilman and newly announced mayoral candidate, and his wife have handed the bank the keys to their North Rosedale Park house and walked away from the mortgage. Kenyatta spent part of Monday cleaning the empty …
A.M. Best Comments on the Ratings of Eastern Alliance Insurance Group … – …
9 Mar 2009 at 12:55pm
OLDWICK, N.J.–( BUSINESS WIRE )– A.M. Best Co. has commented that the ratings and positive outlook of Eastern Alliance Insurance Group (EAIG) and its members are unchanged following the recent announcement by EAIG’s holding company, Eastern …
Public sector general insurers hold on to market share – Sify
16 Mar 2009 at 9:22pm
As in February 2009, the four insurers collectively held a market share of 59.4 per cent, only marginally lower from the 60 per cent share held during the same period last year. The public sector had been losing market share to the private insurers …
