Category: Show on Homepage

In a regulatory filing late on Tuesday, American International Group (AIG), the recipient of a $152 billion federal rescue plan, disclosed it would pay roughly $3 million to several executives under deferred compensation plans that are being terminated.      AIG said last week that it would terminate plans totaling $503 million in deferred compensation because… Continue reading AIG to Pay About $3 Million in Deferred Compensation to Execs

Once was a time when California’s fire season began in August and ended by Christmas. Now the season is year-round, and the number of blazes across the state may double this year. Drought, heat, electrical storms and 60-year-old forest-management policies have all contributed to a threat of fire that exists every moment for residents of… Continue reading CA in the Era of ‘Mega’ Blazes

Observers are now describing the government’s effort to stabilize the financial system, including its centerpiece rescue mechanism, known as the TARP, as a “slush fund”, “banana republic”, and “Keystone Kops.”    Hatched hastily about two months ago, the TARP (Troubled Asset Relief Program) was conceived to stabilize financial markets and restore investor confidence. But now… Continue reading Confidence Eroding over TARP’s Unclear Goals

According to the 2008 Business Risk Survey conducted by the Chubb Group of Insurance Companies and the Women Presidents’ Organization (WPO), nearly three in five (58%) women business owners anticipate that their organizations’ revenues will grow in 2009, and nearly one-half (44%) do not expect difficulty in obtaining access to credit.    “It’s not surprising… Continue reading Women Business Owners Optimistic about Revenue Growth, Concerned over Liability Risk

Marsh, the world’s leading insurance broker and risk advisor, will hold a one-hour Webcast, Wednesday, Nov. 19 at 11 a.m. (EST), that will examine the impact of the challenging global economic conditions on risk finance options and the structure and content of risk management programs. Marsh’s Webcast, “Economic Strife: Implications for Risk Finance Decisions,” also… Continue reading Marsh to Examine Implications of Global Economic Strife for Risk Finance Decisions in Webcast November 19

In a report by insurance brokerage Lockton’s Fall 2008 Market Update, insurers now face an ominous set of facts as the industry enters the final months of 2008, changing market conditions.      According to the report, the financial signals that once pointed to a continued soft market now point to changing dynamics and the potential… Continue reading Lockton Update Sees a Hardening Market

In testimony today before the House Committee on Financial Services in Washington, D.C., D. Cameron Findlay, executive vice president and general counsel of Aon Corporation, urged the U.S. Department of Treasury to address a primary cause of the current U.S. liquidity problem – the hundreds of billions of dollars of illiquid assets that reside on… Continue reading Aon to Congress: Use Insurance Program to Address US Liquidity Problem

Clashing with lawmakers who want the funds to help beleaguered homeowners, Treasury Secretary Henry Paulson rejected using the government’s financial-rescue program as a “panacea” for economic difficulties.    “The rescue package was not intended to be an economic stimulus or an economic recovery package,” Paulson said in testimony to the House Financial Services Committee in… Continue reading Paulson Tells Congress Bail-Out Not Panacea for Economic Woes As Parties Clash Over Its Use

A Goldman Sachs spokesperson on Sunday reported that CEO Lloyd Blankfein and six other top executives at the bank will not be receiving cash or stock bonuses for 2008. The decision was made by the seven executives themselves, said spokesman Lucas Van Praag, and approved Sunday by the Wall Street firm’s compensation committee. The executives… Continue reading Bonuses, Compensation Packages Changing at Goldman, UBS

Evan Greenberg, Chairman of the American Insurance Association (AIA) and Chairman and Chief Executive Officer of ACE Limited, on Friday issued the following statement announcing that Governor Marc Racicot will leave his position, effective February 1, 2009, after having served more than three years as president and chief executive officer of the nation’s leading property-casualty… Continue reading Racicot Leaving AIA as CEO, Leigh Ann Pusey His Successor