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SATURDAY, NOVEMBER 21, 2009
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NEWS ABOUT: insurance companies

insurance companies stories: 34 news summaries

1 - 20 of 34 Stories | 1 2 Next >>

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 AIG's Benmosche: 
 I'm Not Quitting 

CEO is 'committed' to firm's employees

Nov 11, 09 3:00 PM CST
(Newser) - AIG CEO Robert Benmosche isn’t fed up with running a government-controlled insurance giant after all: Backing away from his threat to quit, Benmosche said today that he remains "totally committed” to the company. The CEO conceded, however, that he and the board “are indeed frustrated” with the... More »

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Wall Street • insurance companies • CEO • insurance • AIG • bailout • Robert Benmosche

analysis

Industry Report Distorts Health Reform Cost

Insurance firms' numbers blindside Baucus bill's backers

Oct 12, 09 2:50 PM CDT
(Newser) - A new report that says the Senate Finance Committee’s reform bill would raise private insurance premiums is riddled with troubling exceptions, writes Jonathan Cohn. The report, commissioned by America's Health Insurance Plans, estimates the costs of premiums over time if the bill is implemented, but it doesn’t take... More »

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health insurance • insurance companies • Senate Finance Committee • health insurance premiums • health care reform • Max Baucus • US Senate • America's Health Insurance Plans

(Newser) - Insurance companies are being hit from all sides on at least one issue—in industry jargon, it's called rescission. In the real world, it's when insurers cancel coverage because they say a customer has lied to them about a preexisting condition or some other issue. It's not clear how many... More »

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health insurance • insurance companies • application • health care reform • insurance fraud • rescission • pre-existing condition

OPINION

 Let's Make Health 
 Insurance Policies 
 Readable 

Legal mumbo-jumbo means patients can't tell what they're covered for

Aug 20, 09 8:31 AM CDT
(Newser) - There’s one important health care issue that’s generated little chatter: the oft-inscrutable language of insurance policies, writes Rhode Island health official John Cogan in the New York Times. Policies are penned at a grad-school level, which led his state to require, as of next year, that they be... More »

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health insurance • insurance companies • reading • health care reform

(Newser) - The SEC today simultaneously announced a complaint against former AIG chief Hank Greenberg and the resolution of the matter—a $15 million payment to settle the suit, the New York Times reports. Greenberg and a former AIG CFO were accused of “numerous improper accounting transactions” between 2000 and... More »

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insurance companies • accounting • AIG • Hank Greenberg • settlement • Federal government • Securities and Exchange Commission

Wall Street Rakes in $1B in Fees on AIG Breakup

Morgan Stanley set to pocket $250M in  'advisory services'

Aug 6, 09 7:18 AM CDT
(Newser) - The crumbling of AIG forced taxpayers to take on 80% of the company, but breaking the insurance giant up is turning out to be a bonanza for lawyers and banks. The Wall Street Journal calculates that firms will pull in $1 billion in fees from AIG and the Fed—one... More »

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insurance companies • Bank of America • Goldman Sachs • Morgan Stanley • IPO • AIG • fees • financial crisis • Wall Street bailout

(Newser) - AIG 's longtime CEO sold crucial assets in 2005 out of spite, the company's lawyers charged as they opened their civil suit against the ousted exec today in New York. “Hank Greenberg was mad. He was angry,” said a lawyer for the bailed-out mega-insurer. Greenberg was weeks away... More »

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insurance companies • lawyer • AIG • Hank Greenberg • civil trial • opening statement • Starr International

 Spending on 
 Health Care 
 Lobbying Up 41% 

Drug, insurance companies oppose public insurance

Jun 12, 09 11:45 AM CDT
(Newser) - As the health care debate heats up in Washington, insurance and drug companies are keeping their lobbyists busy. So far this year, those industries have increased their lobbyist spending by 41% as they fight a proposed public insurance plan, USA Today reports. That's $35 million in the first quarter for... More »

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Congress • insurance companies • Washington DC • Merck • drug companies • lobbying • lobbyists • health care reform • public insurance

 AIG Dodges 
 Insurance Claims 
 from Hudson Flight 

Insurer accused of using goodwill towards flight crew to dodge paying up

Jun 12, 09 1:22 AM CDT
(Newser) - Passengers from US Airways Flight 1549 are having a tough time getting its insurer, AIG, to cough up for claims, the New York Times reports. Aviation liability insurance requires a finding of negligence. But Capt. Chesley Sullenberger and his crew were universally acknowledged to have performed amazingly well in saving... More »

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insurance companies • US Airways • insurance • aviation • Hudson River • liability • Chesley Sullenberger • Flight 1549 • Hudson crash

 AIG Bailout 
 Has Failed: 
 Greenberg 

Government should focus on reducing stake, restructuring firm, former CEO says

Apr 2, 09 12:39 PM CDT
(Newser) - AIG’s former CEO told Congress today the bailout of the insurance firm has “failed” and that the government should restructure the company, the Wall Street Journal reports. At a House committee hearing, Hank Greenberg said he blamed his successors for the firm’s implosion: "I think they... More »

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insurance companies • insurance • AIG • Hank Greenberg • bailout • financial crisis • Wall Street bailout

(Newser) - AIG chief Edward Liddy has the not-so-distinct pleasure of testifying before Congress tomorrow just as rage at his company is reaching a full-throated roar. The House and Senate seem to be in a race to see who can recover the $165 million in bonuses faster, the Hill reports. If AIG... More »

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Wall Street • insurance companies • AIG • bonuses • bailout • Edward Liddy

 Report: US Gets 
 Less Health for More $$$ 

Other nations in better health despite spending less

Mar 12, 09 11:34 AM CDT
(AP) - If the global economy were a 100-yard dash, the US would start 23 yards behind its competitors because its health care costs too much—about $2.4 trillion a year—and delivers too little, says a report out today. The authors and leading CEOs say the US funnels away resources... More »

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health care costs • insurance companies • United States • universal health care • health care reform • President Obama

(Newser) - If you want to understand the phrase “too big to fail,” look no further than AIG, the Los Angeles Times reports. With $1.1 trillion at the end of 2007, operations in 130 countries and 74 million customers, AIG is so entrenched in the global financial system that... More »

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health insurance • insurance companies • AIG • bailout • life insurance • airlines • financial crisis • TARP

 AIG Posts Record Loss, 
 Gets 4th Lifeline of $30B 

Insurer loses $62 billion in Q4 and may break up

Mar 2, 09 6:23 AM CST
(Newser) - AIG posted a quarterly loss of $62 billion today—the largest in American history—following news that Washington will provide an additional $30 billion in cash to the insurer and loosen the terms on previous loans. The Treasury and Fed have now intervened four times to prop up AIG, reports... More »

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insurance companies • Federal Reserve • AIG • Treasury Department • financial crisis • Timothy Geithner

Back-Room Consensus: Require Health Insurance for All

Kennedy leads meetings with industry

Feb 20, 09 11:55 AM CST
(Newser) - A series of unprecedented back-room meetings among the biggest players in health care is close to a consensus: Any new legislation will require that every American have insurance, the New York Times reports. The next part, of course, is trickier: figuring out how to enforce it, how to make it... More »

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health care • health insurance • insurance companies • business • Ted Kennedy • health care industry • Medicaid • labor unions • health care reform

 Ledger's Insurer 
 Settles With 
 Daughter 

Attorneys wanted $10M, but company wanted to look into suicide possibilities

Jan 29, 09 4:03 PM CST
(Newser) - Heath Ledger’s insurance company has agreed to pay at least part of the late actor’s $10 million policy to his daughter, Matilda. Ledger’s lawyers reached an out-of-court settlement with ReliaStar Life Insurance, which had balked at paying because of suspicions his 2008 overdose death was a suicide,... More »

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insurance companies • overdose • Heath Ledger • actor • Matilda Rose Ledger

MARKETS

 Dow Falls 105 on Banks, Tech 

Jobs and housing data also dismal

Jan 22, 09 3:23 PM CST
(Newser) - Poor economic data and turmoil in the banking and tech sectors pushed stocks lower today, MarketWatch reports. Bank of America fell 13.3% after CEO Ken Lewis dismissed John Thain amid mounting losses in the wake of BoA’s merger with Merrill Lynch. The Dow closed down 105.30 at... More »

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insurance companies • eBay • Bank of America • Dow Jones • Royal Bank of Scotland • Nokia • Nasdaq • S&P 500

 Insurers Buy Troubled S&Ls 
 in Ploy for Bailout Cash 

Crisis has insurance titans desperate for capital

Nov 17, 08 4:21 PM CST
(Newser) - Four huge insurers are in the process of buying small, troubled S&Ls in order to qualify for a chunk of the Treasury’s bailout cash, Bloomberg reports. Genworth Financial, Lincoln National, Hartford Financial Services, and Aegon NV have set their sights on US banks cited for “unsafe and... More »

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insurance companies • credit crisis • bailout • banks • Troubled Asset Relief Program • financial crisis • savings and loan

Bailout Expands to Include Big Insurers

Feds look beyond AIG and banking industry
to MetLife, others

Oct 25, 08 10:33 AM CDT
(Newser) - The Treasury’s bailout is moving beyond banks to include major insurance firms hurt by bad investments, the Washington Post reports. Companies such as MetLife, the Hartford, and Prudential hope to be covered in the plan, under which the government would provide money in exchange for ownership stakes. Big insurers... More »

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insurance companies • AIG • Treasury Department • bailout • insurance industry • financial crisis

AIG Agrees to Freeze Executive Bonuses 

NY takes tough action to limit payouts to curNewser Newsroom 1.15.0rent, former bigwigs

Oct 22, 08 4:55 PM CDT
(Newser) - AIG will suspend bonus payments to its executives after getting pressure from New York Attorney General Andrew Cuomo. The ailing insurance firm, which recently got billions of dollars in loans from the Federal Reserve, also will stop $19 million in payments to a former CEO fired in June. Cuomo said... More »

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insurance companies • executive compensation • insurance • AIG • bonuses • bailout • financial crisis • Wall Street bailout

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