Airline insurance for Malaysian Airline could be affected by hurt reputation

Malaysian Airlines - airline insurance news

The missing Flight 370 aircraft may lead to serious struggles in the struggling carrier’s future. When it comes to airline insurance on a broad scale, the costs have been steadily dropping over the years as problems have become decreasingly common and crashes of any major sort have simply not been happening. Malaysian Airline System could be facing its own coverage issues following the disappearance of its plane. Flight 370 was carrying 239 people when it disappeared along its path from Kuala Lampur, Malaysia, to Beijing China. This type of situation,…

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S&P downgrades Californian insurers while Commissioner Jones insists the companies are financially sound

Rating agency Standard & Poor’s seems to be in the grips of a downgrading frenzy as the agency downgrades the credit ratings of five of California largest insurance companies. The move comes on the heels of the agency’s downgrading of the federal government’s credit rating, which sparked controversy throughout the country and drove many businesses to re-evaluate their place in the commercial market. S&P downgrade of the state’s insurers could have major implications for the industry, but Insurance Commissioner Dave Jones says that there should be no doubt about the…

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S&P’s downgrade could impact the nation’s insurance industry

Recently, Standard & Poor’s (S&P), a major financial research and analysis company based in the U.S., downgraded the U.S. government debt. The firm now classifies the nation’s finances as having a “negative” outlook. S&P’s actions have spurred the nation’s insurance and finance companies to take another look at their practices and portfolios, keen to spot any compliance violations spawned from the downgrade. The search for such violations has been slow going so far, as the U.S.’ long-term ratings have never before been downgraded. The downgrade has left many major insurance…

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