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November 2011
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AIG makes $972 million TARP repayment to U.S. Treasury

by Reuters - Nov 01,2011

NEW YORK (Reuters)—The U.S. Treasury Department received a $972 million repayment from American International Group Inc., funded by proceeds from the sale of AIG'S American Life Insurance Co. subsidiary last November, Treasury said Tuesday. Treasury said its remaining investment ... [full story]

Northeastern Snowstorm Weighs on Insurers

by Fox News.com - Nov 01,2011

The U.S. insurance industry, already bruised by one of the most devastating weather years in history, appears to have suffered another blow from Saturday's unprecedented northeastern snowstorm. Early data from some of the country's largest insurers suggests the hit ... [full story]

Citizens Insurance directed to think small

by UPI.com - Nov 02,2011

TALLAHASSEE, Fla., Nov. 2 (UPI) -- Florida Gov. Rick Scott said the state-backed Citizens Property Insurance Corp. is running a program that is designed to fail. The complaint does not have to do with Citizens being in trouble, specifically, ... [full story]

Lawyer Opposing Health Law Is Familiar Face to the Justices

by The New York Times - Nov 02,2011

WASHINGTON — It would be hard for any lawyer to fathom a more riveting caseload than the one Paul D. Clement carried during his seven years in President George W. Bush’s Justice Department. As solicitor general for three years ... [full story]

80 employers, groups object to proposed PBGC premium hike

by BusinessInsurance.com - Nov 03,2011

WASHINGTON—Raising premiums that employers with defined benefit plans pay the Pension Benefit Guaranty Corp. would cost jobs and be counterproductive in the long run, more than 80 major employers, consultants and trade associations said in a letter to federal lawmakers. ... [full story]

Nor'easter Caused Up To $750M In Insured Damage In Connecticut, According To Early Estimate

by Hartford Courant - Nov 03,2011

Connecticut suffered $500 million to $750 million in insured damage during last weekend's nor'easter, according to an early estimate provided by the Connecticut Insurance Department. That's 20 to 25 percent of the total insurance-covered damage of $1 billion to ... [full story]

AAA: Fatal motor vehicle crash costs $6 million

by USATODAY.com - Nov 06,2011

The emotional toll for Americans who lose a friend or loved one in a motor vehicle crash has a steep financial counterpart — an average $6 million per fatal accident, according to auto club AAA. In a new report ... [full story]

Property/casualty insurance pricing stable going into 2012

by BusinessInsurance.com - Nov 06,2011

Most property/casualty insurance lines of business will experience fairly stable pricing into the new year, according to a report released Thursday by Willis Group Holdings P.L.C. The annual report, “Marketplace Realities: Solid Footing and a Foundation for Growth,” noted ... [full story]

Workers comp gets smarter with new tools

by BusinessInsurance.com - Nov 07,2011

A new generation of predictive modeling tools is rolling out in the workers compensation market, which experts say could make claims adjustment and management more of a science. Modeling has been available in workers comp for years, but insiders ... [full story]

Farm-state lawmakers pushing new farm subsidy

by AP Associated Press - Nov 07,2011

WASHINGTON (AP) — Corn and soybean farmers are pushing for — and Congress is moving to create — a whole new subsidy that could maintain farm incomes at a nearly four-decade high should prices fall or crops be destroyed by ... [full story]

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