Geithner says taxpayers could lose money from federal bailout of AIG

U.S. Treasury Secretary Timothy Geithner told a congressional oversight group June 22 that the federal bailout of American International Group in 2008 could cost the U.S. taxpayers money.  Read Story

Ritter takes reins from Brady at Cumberland Insurance Group

Paul J. Ritter was named the new president and CEO of The Cumberland Insurance Group, replacing Robert P. Brady, who retired after 33 years of service to the company.  Read Story

Virginia insurance regulators have given Casualty Reciprocal Exchange until July 2 to explain why it should not have its license to operate in the state revoked.  Read Story

The Association of California Insurance Companies is urging lawmakers to oppose A.B. 2593, introduced in February by Assemblyman Steve Bradford, D-Inglewood. The legislation, which is scheduled to be heard by ...  Read →  Read Story

The deceptive marketing tactics used to sell equity-indexed annuities have been well-documented. In case you haven’t heard of these annuities, they’re a complex financial product that promises ...  Read →  Read Story

U.S. regulators are cracking down on stranger-originated life insurance scams in which policy holders sell their insurance to investors.

The race for the GOP nomination for California’s insurance commissioner has tightened to just 230 votes a week after the state primary election.

Michigan’s insurance commissioner has requested more information from Blue Cross Blue Shield of Michigan about a pending rate hike averaging 15% for 189,000 people 18-to-64 years of age who buy their own insurance, the Free Press reported.  Read Story

NAIC schedules July hearings in D.C. on federal health care reform

The organization representing state insurance commissioners has scheduled a two-day hearing in July in Washington, D.C., to discuss issues resulting from the passage of federal health care reform legislation earlier this year.  Read Story

Here’s a quiz for you: What manmade object on Earth can you see from outer space? No, it’s not the Great Wall of China, despite the persistent and incorrect urban legend. It’s the lawyers lined up at the courthouse trying to file Chinese drywall suits, especially after the $2.5 million verdict on June 18 in that mildewed judicial hellhole we all know and love as Florida.  Read Story