Risk Management

As the current economic turmoil leads to an escalation of lawsuits against directors and officers, one expert is warning that a new variety of D&O liability claims may be created related to government bailout efforts.

There is no evidence AIG is engaged in predatory pricing of its property-casualty business, the U.S. Government Accountability Office and Pennsylvania's insurance commissioner told Congress last week.

AIG struggled to respond to a firestorm of criticism last week, generated by a brouhaha over retention bonuses and other payments.

The NAIC moved forward on a pair of controversial issues last week, voting to revisit the use of consumer credit information to determine insurance rates, as well as approving a modified survey to assess climate risks facing carriers.

American International Group appears oblivious to the fact that as the poster child for the bailout generation, doing business as usual undermines public support for its rescue and threatens its long-term future.

There is now a large combine of states investigating the details of American International Group bonus compensation for executives, a spokesman for the New Jersey State Attorney General's Office said yesterday.

Newly proposed House legislation to end the insurance industry's anti-trust exemption has been attacked by two insurer trade group who call it a "punitive bill hinging on a false premise."

There is now a large combine of states investigating the details of American International Group bonus compensation for executives, a spokesman for the New Jersey State Attorney General's Office said yesterday.