Rep. Bean offers more details on insurance reform proposal
A proposal to create an Office of National Insurance is being fine-tuned, as its sponsors determine whether to make a federal charter optional or mandatory for insurers who are deemed “systematically...
View ArticleLiddy to step down at AIG; chairman, CEO posts to be split
Eight months after being selected to guide American International Group out of the financial fog, Edward M. Liddy can now see the light at the end of the tunnel. Edward Liddy The current chairman and...
View ArticleMortgage response proves public health option is wrong
One year ago Monday (Sept. 7) the federal government took over mortgage giants Fannie Mae and Freddie Mac because then-Treasury Secretary Henry Paulson – in what would become his mantra – argued that...
View ArticleAllstate boosts its Washington lobbying efforts on key issues
Allstate Insurance Co. is beefing up its presence in Washington, D.C., hoping to further education for members of Congress on regulatory issues it supports. Dean Pappas “Insurance is front and center...
View ArticleGreenberg says AIG itself, not his firm, to blame for employee exodus
A day after the New York Times claimed former AIG chief executive officer Maurice “Hank” Greenberg was steering talent to his new firm, Greenberg fired back, saying employee departures could have...
View ArticleHouse committee green lights federal insurance office
The House Financial Service Committee approved a bill creating a federal insurance office. The office, to be run by the U.S. Treasury Department, would provide information to Congress on insurance...
View ArticleHank Greenberg says AIG can shake off federal control and rise again
First, Eliot Spitzer painted a target on his back, says Hank Greenberg. Then, with the bailout of AIG, the fed hoped that it would be able to bring the company down. This, according to an interview...
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