Search for: "AIG Casualty"
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17 Sep, 2008 3:58 pm
... to change laws, elect judges, run state wide referendums and pack the courts it takes money and lots of it. Enter AIG and all of the other
major ... are slowly revealed, are as follows: 1. Will the entire management team that presided over this debacle at AIG be fired with out
golden parachute buyouts financed by the American taxpayers money, or are we ... after 20 years of hearing that I wasn't good enough to do AIG
casualty business that AIG is now off MY approved list of companies. Karma is a bitch ...
14 Oct, 2008 2:45 pm
... $17.7 billion. Today's Insurance Journal contains an interview with John Q. Doyle, president and CEO of AIG Commercial Insurance. Among the
points in the interview: The agreement with the Fed was drafted with the intention of letting the insurance companies operate as ... in September 2008. AIG Commercial Insurance companies, to name just some, include AIG Casualty, American Home Assurance Company**, Commerce and Industry, Granite State, Illinois National, National Union Fire Insurance Company of ...
19 Sep, 2008 3:46 pm
... was heavily involved in providing credit default insurance, which was linked to subprime mortgages. As detailed in The Economist AIG
suffered a liquidity crisis this week when subprime losses mounted and it had to put up more collateral with ... loan within the two-year deadline. A committee of insurance
commissioners is being formed to oversee the sale of AIG's life and property/casualty lines. What
does this mean for the policyholders are claimants/plaintiffs currently doing business with AIG? ...
29 Sep, 2008 1:12 pm
... as well as structured settlement history. This blog post continues S2KM's coverage of AIG in the context of the current financial crisis
and how to grow the structured settlement market. S2KM's ... AIG pays a fine of $1.6 billion. 2007 - AIG sells more than $1.4 billion of the $5.9 billion annual U.S. structured settlement ... . Here is an excerpt from S2KM's blog report: "Supporting
Casualty Claims - Ismael Acevedo, Vice President of AIG's Structured Settlement Division delivered an
educational primer ...
17 Sep, 2008 1:45 am
... on an orderly basis. We expect that the proceeds of these sales will be sufficient to repay the loan in full and enable AIG's businesses to
continue as substantial participants in their respective markets. In return for providing this essential support, ... , institutional and individual customers through the most extensive
worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies
are leading providers of retirement services, financial services and asset ...
9 Oct, 2008 3:12 pm
... its core property and casualty insurance businesses, while entertaining the opportunity to sell several attractive businesses, including
possibly AIG American General. These sales will generate the funds needed to repay the outstanding debt taken from the Federal Reserve ... that
the loss of life markets would remove a substantial business purpose for a casualty company to retain a coordinated structured settlement
program such as AIG has run for the last 20 years. I think it was an important step ...
12 Mar 9:00 am
... brokers and risk managers alike. Management believes plans to ultimately spin off a portion of AIG's core franchise
property/casualty business should help to alleviate these concerns. In addition, a potential initial public ... across the organization, as
well as the adequacy of capital at the operating unit level, will need to be reflected in the rating evaluation of AIG's operating
subsidiaries. In addition, trends in operating performance and business profile are further considerations that are ...
17 Sep, 2008 4:10 pm
... $85 billion under the facility. The interests of taxpayers are protected by key terms of the loan. The loan is collateralized by all the assets of AIG, and of its primary non-regulated subsidiaries. These assets include the stock of substantially all of the regulated subsidiaries. The ... until a default
in 24 months] AIG isn't the first insurance company to go under; as the NCIGF points out, "Since 1976, there have been about 600 insolvencies
of property and casualty insurers." When an insurer goes ...
3 Oct, 2008 9:49 pm
... and thus stay as a powerful force in the settlement of a wide range of casualty lines of business. Additionally, it is entirely plausible
that any purchasor of American General or AIG Life would want to retain their structured settlement operations as it's highly profitable and a
big premium generator. What is in doubt is the future of the coordinated program that encourages AIG P&C companies to actively suggest
structured settlements to their claimants. Regardless of your feelings about ...
20 Sep, 2008 6:26 pm
... AIG now that the government has stepped in with their $85 billion bail out. The big questions for lawyers are, will AIG property casualty claims still be paid, should they fear not being able to settle claims during this takeover
and ... new business until the situation becomes more clear. Listen in to one of the best industry insider voices about how to handle your AIG
claim, structured settlement or litigation on a special edition of Speaking of Settlements. Also, if you wish to join Speaking of ...
25 Sep, 2008 3:20 pm
... your annuity contract for a lump sum; believing some is better than none if AIG goes bankrupt? Well take a breath and sit down. You need to
... holding company with numerous businesses. · Your insurance and annuity policies are written by AIG's insurance companies. Those companies
are financially strong and their assets ... and then exercise caution and patience. Tomorrow I'll print the list of Property & Casualty
Insurance Guaranty Associations. Originally posted at InjuryBoard by Steve Lombardi
2 Mar 6:15 am
... Commercial Insurance Group, Foreign General unit, and other property and casualty operations, is to be called AIU Holdings, Inc. AIU
Holdings, Inc. will assist AIG in preparing for the potential sale of a minority stake in the business, which ... based on the current level of
LIBOR and the current facility balance. Maintain availability of FRBNY credit facility: AIG will continue to have access to the FRBNY credit
facility. Following the repayment of the outstanding amount on the facility with the ...
16 Sep, 2008 2:22 am
... raise the additional funds it requires, it depends on the actual assets that are transferred, it depends on what further capital requirements AIG may have in this rapidly changing environment. The critical question of the sufficiency of policyholder protection in light of ... not greater) concern to
readers of this blog is the action this evening by A.M. Best's to downgrade AIG's property/casualty
insurance financial strength rating to A (Excellent) from A+ (Superior), about which refer here. UPDATE ...
17 Sep, 2008 3:58 pm
... but fears no evil, because he is the biggest and "baddest" giants in the valley. AIG has always been one of the companies by which all
others have been measured ... liquid assets to respond to demands. In Florida, AIG has 46 subsidiary companies that operate; 34 selling
property & Casualty insurance and 12 selling life ... become necessary, we will immediately intervene if we feel that any one of the
AIG companies operating in Florida will be unable to pay its claims and fulfill the promises made ...
6 Oct, 2008 2:34 am
... According to AIG's Chairman Edward Liddy, the proposed sale would allow AIG to re-focus "on our
traditional strengths in property and casualty underwriting" as well as AIG's foreign general
insurance businesses. Liddy also announced on ... risk although they continue to exhibit strong competitive positions, earnings, and capital levels. Despite continuing assurances from
AIG and state insurance regulators, the National Underwriter has reported that several banks have "temporarily suspended" sales of ...
29 Jan, 2008 4:40 am
... discovery needs. AIG Executive Liability, a division of the property-casualty insurance
subsidiaries of American International Group, Inc. (AIG), recently announced AIG eDiscovery
Solutions, a program of electronic discovery-related products and services to help ... and reduce overall electronic discovery costs during investigations or litigation," said Michael
W. Smith, President of AIG Financial Lines Claims. "We are pleased to work with Encore Legal Solutions to provide the most efficient and ...
26 Sep, 2008 1:00 pm
... by the states and is not subject to the same rigorous investment, accounting and capital adequacy standards as the state regulated insurance subsidiaries. AIG is an international insurance company of 11 Pennsylvania-based insurance subsidiaries which the Pennsylvania Insurance Department is the primary
regulator. They provide property and casualty coverage, accident and health coverage, financial products and risk ...
1 Oct, 2008 6:03 am
... to the completed acquistion of American General Life in August 2001, AIG was primarily a major consumer of structured settlement annuities
as part of the resolution of its casualty claims. Its structured annuity issuing companies, American International Life ... gained the
structured settlement medical underwriting expertise that it sorely needed. The annuity issuing components of AIG structured settlements
operation appear to maintain the largest dedicated staff of any structured annuity issuer. ...
14 Jan, 2008 10:23 pm
... pm ET New Approach Provides Unique e-Discovery Benefits to Insureds NEW YORK--(BUSINESS WIRE)--AIG Executive Liability, a division of the
property-casualty insurance subsidiaries of American International Group, Inc. (AIG), today announced
AIG ... community, are struggling with appropriate implementation of electronic data discovery requirements," said Michael W. Smith, President,
AIG Financial Lines Claims. "Our approach ensures that the e-discovery process is executed as efficiently as possible, ...
15 Sep, 2008 11:45 pm
... and an A-. AM Best reduced the ratings of the life/health and property/casualty subsidiaries of American International Group
(AIG) from A+(Superior) to A (Excellent). AIG's subsidiary American General Life Insurance Company,
one of two structured ... minimum A+ (Superior) or better is required by a judge, statute, or client guideline. It is important however to point out that AIG is not the first company to be downgraded to A and may not be the last. Some, like Prudential Insurance Company of America ...
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