The earthquake threat posed to Missouri by the New Madrid fault is profound and the state needs to upgrade its technology, insurance and disaster response accordingly, the Missouri Earthquake Insurance Task Force found. Gov. Matt Blunt and the Department of Insurance, Financial Institutions and Professional Registration released the task force report this week.
A government initiative to prevent Medicare from paying expenses normally covered by casualty insurers and self-insured employers could slow down liability-claim settlements and increase litigation, according to this article.
A former employee in the billing department of Cedars-Sinai hospital in Los Angeles has been accused of stealing personal information from more than 1,000 patients and using it to bilk insurance companies.
Chief executive Edward Liddy said American International Group's $450 million employee-retention program is a key component in repaying the $60 billion loan package from the U.S. government that the company received this year. The federal government received $150 billion of AIG's preferred stock to mitigate losses to banks that financed the company. Liddy is selling off AIG's retirement services, life insurance and plane-leasing unit in order to meet a target of repaying the loan in 2009.