Live Insurance News

Two-tier insurance company capital standards proposed by Fed

June 6, 2016June 4, 2016 Marc

Insurance company capital standards business financial skyscrapers

The concept is to treat exceptionally large firms differently from others within the industry. The Federal Reserve proposed new insurance company capital standards as a part of a two tiered system that had already been expected for the industry and that is expected to provide significant protection for the American economy. Within this system, major insurers are going to have different capital requirements applied to them. Prudential Financial Inc. and American International Group Inc. will both have different insurance company capital standards applied to them due to their size and…

AIG crowdfunding insurance will be among the company’s next offerings

May 27, 2016May 25, 2016 Julie Campbell

AIG Insurance company CEO - Building in Manhattan

In order to assuage the concerns of investors, this coverage will help to protect them from being ripped off by startups. The American International Group has now unveiled a new form of coverage and this AIG crowdfunding insurance is meant to provide a unique protection not to startups that are attempting to raise money, but actually to the investors who want to take a chance on them but who are afraid of being scammed or losing their investments. The New York based insurance company is now gearing up for the…

Bill Cosby turns to insurance coverage to pay the bill for defamation suits

March 18, 2016March 16, 2016 H. Cutner

The costs associated with defending himself in court are piling up and a home policy will likely pay for much of it. When defending oneself in court in several sexual assault and defamation cases, the legal bill can rapidly rise and Bill Cosby is using his homeowners insurance coverage to help him to pay for these expenses. This method of footing the bill for legal fees has come to quite a surprise to many though it is not necessarily uncommon. That said, Cosby has been facing lawsuits across three states…

New mortgage insurance unit spin-off is added to AIG’s current goals

January 26, 2016January 24, 2016 H. Cutner

American International Group has made the decision to look into a spin-off of that branch of its business. American International Group (AIG) is now in the midst of the pursuit of a spin-off of its existing mortgage insurance business, according to several reports based on sources who are familiar with the matter. This new strategy from the insurance company could come at precisely the time that goes up against Carl Icahn. Despite the attempts that the company is seeking to make to spin-off its mortgage insurance business – which made…

Bill Cosby’s insurance company may be required to foot his bill

November 16, 2015November 15, 2015 Julie Campbell

A court has now ruled that the insurer will be required to pay for the celebrity if he loses his sexual assault case. Although this year has certainly not been the best one Bill Cosby has ever lived, particularly in terms of the sexual assault allegations that have been placed against him, a recent court ruling has given him a potential financial break as his insurance company will be required to pay for him if he is found to have been guilty of these atrocities. In the sexual assault case…

The Bill Cosby lawsuit filed by AIG is “draining” the celebrity’s resources

September 21, 2015September 19, 2015 Julie Campbell

The entertainer’s lawyers have stated that financial drains are decreasing his ability to successfully defend himself. The lawsuit that was filed by American International Group (AIG) against Bill Cosby has been considerably “draining” on the resources of the celebrity, who is now saying (by way of his lawyers) that this is seriously cutting into his ability to present a successful defense for himself against the allegations of sexual abuse. The reason is that Cosby is currently being required to defend himself simultaneously against several suits. Lawyers representing Bill Cosby told…

AIG makes insurance news with new high end clothing coverage

September 9, 2015September 6, 2015 Julie Campbell

The insurer is releasing a new product to help to boost its business from high net worth personal lines customers. American International Group (AIG) has revealed its latest insurance news that the latest component of its strategy to increase its appeal to high net worth personal lines policyholders, it will be releasing coverage for high end designer clothing. This will provide people with an insurance policy that goes above and beyond the standard homeowners coverage. More specifically, the insurance news is about the “wearable collections coverage”, which provides additional coverage…