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Watch out, there`s PPI about
People arranging a personal loan over the telephone or internet should watch out as they may unknowingly buy expensive payment protection insurance. So claims Which? Magazine. When the consumer a
moneyextra.com

UPDATE 1-AIG to halt merger between Japan units due to sale
TOKYO, Dec 24 (Reuters) - U.S. insurer American InternationalGroup said on Wednesday that it would halt the mergerbetween its two Japanese life insurers, AIG Star Life Insuranceand AIG Edison Life Insurance.
Reuters

Lathrop & Gage names Ramirez to lead health care practice
Lathrop & Gage LC named partner Andy Ramirez as the chairman of its health care practice, one of the firm’s most active.
bizjournals

The validity of the policy lasts a year from the date of buying the cover.
The mass hysteria generated by the 26/11 Mumbai terror attacks has resulted in insurance companies being inundated with enquiries regarding terrorism covers. At present, terror victims can file claims under personal accident and home insurance covers offered by general insurance companies.
homeinsurancepower.com

AIG says to halt merger process of Japan units
TOKYO, Dec 24 (Reuters) - U.S. insurer American InternationalGroup said on Wednesday that it would halt the mergerprocess for its two Japanese life insurers, AIG Star LifeInsurance and AIG Edison Life Insurance.
Reuters

AIG courts buyers of Philippine unit - FT
SINGAPORE, Dec 24 (Reuters) - American International Group has sent detailed information on its PhilippineAmerican Life and General Insurance Co (Philamlife) topotential buyers, moving a step closer to the sale of its localunit, the Financial Times reported on Wednesday.
Reuters

When insurance product distribution goes online - Businessday Online
Online product  distribution is  gradually permeating the Nigerian insurance business, with new innovations by companies to reach out to the mass market. With the successful conclusion of the industry recapitalisation and consolidation, companies ...
Feed Digest

Local content: FG approves 'consortium bidding' to boost oil, gas ... - Businessday Online
To ensure effective take-off of the local content policy in oil and gas insurance, government has approved "consortium bidding" for indigenous insurance companies. This will enable operators muster the required financial capacity needed to play ...
Feed Digest

US economy shrinks following bad news
Figures from the US Commerce Department have revealed today that the US economy contracted at its fastest pace in the July to September period, since the aftermath of the 9/11 terrorist attacks 7 years ago. Gross Domestic Product (GDP), which is used as a measure of economic health, fell by 0.5% in the third quarter, [...]
Telegraph

AIG`s $150B bailout is just a start
Within insurance giant American International Group, but known to only a few people, is something irreverently called the 'kill list.' It was created by AIG's controller, David Herzog, on Tuesday, Sept. 16, the wild day when the company plunged toward bankruptcy only to be bailed out instead by the U.S. government. Very late that night, Herzog, then 48 and an AIG employee for nine years, sat in the company's New York City headquarters, brooding about the day's events. Robert Willumstad, CEO for only three months, had learned from the Federal Reserve that he was out, on the theory no doubt that the government can't extend an $85 billion credit line to a company and leave things in the hands of existing management. The AIG board had been told that the new CEO was to be Edward Liddy, who had decades before overseen a Sears Roebuck restructuring and then become head of a Sears spin-off, Allstate Insurance. More important to the crisis at hand, Liddy's career had made him a business friend
CNN

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