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February 11, 2009
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Treasury Plan Has No Bailout Money For Insurers

by National Underwriter - Feb 11,2009

WASHINGTON —Insurers will not be allowed to participate in the federal government’s bailout program for financial institutions, a top Treasury official said today. Only federally regulated financial institutions will be eligible for the various aid programs, according to the official, ... [full story]

AIG May Sell U.S. Auto-Insurance Business to Zurich

by Bloomberg.com - Feb 11,2009

 Feb. 11 (Bloomberg) -- American International Group Inc., the insurer divesting units to repay a government loan, is in talks to sell a U.S. auto business to Zurich Financial Services AG, said two people familiar with the situation. The sale of ... [full story]

U.S. Secretary of Transportation Mary E. Peters Announces New Data Showing Record Low Highway Fatalities

by NAMIC - Feb 11,2009

U.S. Transportation Secretary Mary E. Peters in December 2008 said the number of people killed in traffic crashes was expected to reach a new record low in 2008. Early projections showed an almost 10 percent drop in highway traffic deaths ... [full story]

N.Y. Insurers Object To $180 Million Assessment Increase

by National Underwriter - Feb 11,2009

A provision in New York Governor David Paterson’s Deficit Reduction Plan to increase assessments by $180 million on all insurers, and additional amounts for health insurers, has drawn criticism from a state insurance association. Ellen Melchionni, president of the New ... [full story]

P/C profits probably down for back-to-back years

by BusinessInsurance.com - Feb 11,2009

OLDWICK, N.J.—The U.S. property/casualty insurance industry’s profits for 2008 will drop nearly 80% to $14 billion, according to an estimate released Monday by A.M. Best Co. Inc. Slumping underwriting results and weak investment markets hindered U.S. property/casualty insurers to a ... [full story]

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