National Drive Safely Work Week: Save Lives and Money

"Driving safely can prevent accidents and traffic tickets, which makes the road a safer place and can also keep your car insurance rates low." (2008-9-30)
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Vision Underwriting make two senior appointments

"Vision Underwriting Limited, a subsidiary of Liberty Mutual Insurance Europe Limited based in Cheltenham, has announced two senior appointments.
Taking up the job of liability manager is Rob Price, and Richard Trinder becomes the firm’s new commercial manager.
Both men will be directly responsible to Vision’s managing director, Chris Bilas.
Price will be tasked with handling complex risks, [...]" (2008-9-30)
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Endurance appoint new executive VP

"Bermuda-based insurer and reinsurer Endurance Specialty Holdings Ltd has announced the appointment of Joseph C. O’Donnell as executive VP.
O’Donnell will join the Professional Liability part of the firm, and brings to it a quarter of a century of industry experience.
The majority of his long career was spent with Chubb Specialty Insurance Company, which he spent [...]" (2008-9-30)
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Berkshire Hathaway reinsures AIG subsidiary

"Lexington Insurance Company, a subsidiary of AIG, has agreed terms with Berkshire Hathaway for reinsurance cover.
Berkshire Hathaway’s National Indemnity Company will provide contingent property reinsurance cover to Lexington’s Real Estate Portfolio, as well as to policies with limits of over $250 million, to policies with home/foreign exposure, and to the property sectors of the majority [...]" (2008-9-30)
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Looking on the Brightside, H1 profits up

"Brightside has announced its results for the first half of 2008, with turnover and operating profit both increasing on year.
Turnover for the six months ending 30th June 2008 at the insurance broking and financial services business was £15.6 million, up 39% compared to turnover of £11.2 million in the first six months of 2007.
Adjusted operating [...]" (2008-9-30)
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Deposit insurance and your savings

"Don't ask if your money is safeGIVEN that you should never shout a€œfirea€ in a crowded theatre, it was perhaps unwise of your correspondent to walk into his local branch of JPMorgan Chase and ask, a€œCould somebody please explain the deposit insurance rules to me? I want to know if my money will be alright if the bank goes bust.a€a€œCould you come with me, sir?a€ was the cashiera€™s urgent reply, leading me briskly out of the public area where the question might alarm other customers. Once in a private room, she visibly relaxed. She explained that before the past few days, nobody had asked about the deposit rules in yearsa€”in fact, the first time she was asked, she had to look them up. ..." (2008-9-30)
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Questor launches LifeStyle Excess Insurance

"Questor Insurance Services, the Internet broker, has launched LifeStyle-Excess Insurance.
The new policy aims to give reassurance to clients who may need to claims on policies with high excesses, by insuring the excess.
The cover is available across motor, home, travel, health and pet insurance.
According to Questor’s chief executive, Andrew Lawrence, the new product should allow consumers [...]" (2008-9-29)
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Heath Lambert bolsters Projects team

"Independent insurance broker Heath Lambert has announced a trio of new appointments to enhance its Projects team.
Hayley Bonello, Hollie Mitchell and Roland Brockman are all to become project analysts, which will enable the team’s ever growing client base to continue to enjoy a strong level of service.
Projects team head Pauline Goreham has stated that it [...]" (2008-9-29)
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Citi Buys Wachovia Banking Operations

"Citigroup assumed up to $42 billion potential losses on a $312 billion loan pool, and the Federal Deposit Insurance Corp. is responsible for losses beyond that.
" (2008-9-29)
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NFIP Extension

"On the eve of the expiry of the current National Flood Insurance Program (NFIP) a short-term extension of the federal program passed the Senate over the weekend. This means that authorization of the NFIP is extended until March when further action on long-term reform of the program is expected. Check out today’s online article at National Underwriter by Arthur D. Postal [...]" (2008-9-29)
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Bikesure insurance joins BeatThatQuote.com

"UK-based motorcycle insurers Bikesure have signed up to join the panel of insurance companies on fast-growing price comparison site BeatThatQuote.com.
Motorbike riders looking for insurance will now be able to arrange a Bikesure policy at the website, whilst also making sure that they are getting the best deal possible.
A spokesperson for Bikesure said BeatThatQuote.com is a [...]" (2008-9-29)
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Swiss Re steers safely through financial storm

"European insurance giant Swiss Re has assured investors that its portfolio is secure despite the current worldwide financial turmoil.
The second largest reinsurer in the world announced on Thursday that it is on track to meet its targets, and that write-downs from the credit crunch have been lower than expected.
The company added that it will be [...]" (2008-9-29)
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European banks bail out Fortis for €11.2bn

"Fortis, the Belgian insurance and banking group, has received an €11.2 billion injection of cash from the governments of the Netherlands, Belgium, and Luxembourg.
The support became necessary over the weekend, after French bank, BNP Paribas, and Dutch financial firm, ING Groep, walked away from negotiations to acquire the business.
The three banks involved in the rescue [...]" (2008-9-29)
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Is My Car Insured if my Babysitter (Who's Not on My Policy) is Driving?

"Auto insurance is designed to follow the car, which means that the coverage you purchased for your vehicle will cover the car regardless of who's driving it." (2008-9-26)
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Young male driver premiums continue to rise

"Research from AA Insurance shows that young men are paying around twice as much for their car insurance as young women.
According to the study, premiums for newly qualified young male drivers have continued to rise, while for young women, they have declined.
For example, the average quote for a 17-year-old male driving a three-year-old [...]" (2008-9-26)
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Hybrids: 2009 and Beyond

"Exciting technology is on the horizon for hybrid cars. It could even help you save money and get lower car insurance quotes." (2008-9-25)
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Hiscox and Congregational enter strategic partnership

"International specialist insurer Hiscox and Congregational & General Insurance have agreed to embark upon a strategic partnership together.
The move will initially involve a co-insurance arrangement for Congregational’s household account.
As time goes by the agreement will progress and take on other products and services.
Congregational’s MD, Carlo Cavaliere, has commented on the deal, stating that the firm [...]" (2008-9-25)
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Challenges Amid the Economic Storm

"If you’ve been wondering what the implications might be for insurers of the federal government’s proposed $700 billion financial bailout plan, a report presented by I.I.I. president Dr. Robert Hartwig before the Excess/Surplus Lines Claims Association focuses on this very topic. Called “The Financial Crisis & the P/C Insurance Industry: Challenges Amid the Economic Storm”, [...]" (2008-9-24)
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Birth dates correlate with motor claims and convictions

"Motorists with unfortunate claims histories or licences peppered with points may not be wholly responsible for their track records.
According to a study by elephant.co.uk, the month in which people are born can have an impact on their performance as drivers.
The online insurance specialist has identified the motorists most likely to have an accident or driving [...]" (2008-9-24)
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NY Moves to Regulate CDS

"The unregulated $62 trillion credit default swap (CDS) market – the Achilles heel of the emerging financial crisis – yesterday was served notice by New York State that part of the sector will be subject to regulation for the first time by the state insurance department. Announcing the move, Governor Paterson urged the federal government [...]" (2008-9-23)
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Jardine Lloyd Thompson launches specialist Insurance for UK Football Agents

"Europe’s largest headquartered insurance broker; Jardine Lloyd Thompson have targeted Football Agents with its latest Financial Risks Insurance product.
At present FIFA regulations state that Professional Indemnity Insurance for a minimum limit of EUR 75,000 must be purchased by all FIFA licensed Football Agents.
JLTs specialist product provides competitive coverage for existing and new agents that [...]" (2008-9-23)
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Lockton appoints private equity SVP in San Francisco

"Lockton has announced the addition of Robert Irvin to its San Francisco office in the capacity of senior vice president within the Private Equity and Corporate Acquisitions Practice.
Irvin will bolster Lockton’s expertise in the field of transaction-related insurance, and he will play a role in expanding the firm’s presence in the San Francisco Bay area.
During [...]" (2008-9-23)
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Why Are Hybrid Cars Cheaper to Insure?

"Hybrid cars aren't just cheaper to drive. Research shows that hybrid car owners tend to fall into the lower-risk category, which gives insurance companies the chance to offer them a lower insurance premium." (2008-9-19)
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AXA Insurance gives contracts to seven legal firms

"Seven legal services firms have been granted three year contracts by AXA Insurance after the conclusion of a review lasting six months.
AXA Insurance claims will be provided with a comprehensive range of legal services by the seven firms from 1 October, when the contracts begin.
Areas such as property and personal injury as well as other [...]" (2008-9-22)
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PPI successful claim rate a miserable 11%

"Which? is cautioning consumers against taking out payment protection insurance (PPI) in the current economic climate.
Spokeswoman for the consumer group, Lucy Widenka, says that some sales practices for PPI, already identified by the Financial Services Authority as unsound, coupled with the economic downturn, mean that independent advice should be taken when purchasing PPI.
Ms Widenka [...]" (2008-9-22)
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Charity Walk

"Insurance Information Institute (I.I.I.) colleagues, family and friends joined together to raise funds and to participate in last Sunday’s Susan G Komen New York City Race for the Cure 5K walk/run. First held in 1991, the race is now one of the largest in New York City and this year more than 25,000 took to the route in [...]" (2008-9-19)
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Moneysupermarket.com appoints acting MD for Insurance and Home

"Moneysupermarket.com, the leading price comparison website, has announced the appointment of Andy Leadbetter to the post of acting managing director for Insurance and Home Services.
Prior to working for the site, he was employed by insurer Swiftcover as an IT project manager.
Leadbetter first joined the firm in October of last year, when he assumed the [...]" (2008-9-19)
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Swift to develop e-transactions industry standard

"The world’s major insurance companies are working together to reduce their carbon footprint by agreeing upon an industry standard for paperless transactions.
Interbank co-operative Swift has been appointed to develop an electronic platform for transmissions between insurers, brokers and reinsurers.
Major players in the insurance industry, including Swiss Re, Munich Re, Scor, Benfield, Aon and Willis, have [...]" (2008-9-19)
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Marsh appoints UK Commercial Practice chief

"Insurance broker and risk advisor Marsh has named Julie Page as head of the firm’s UK Commercial Practice.
The Practice caters to the small and medium-sized enterprise (SME) sector within the UK.
She succeeds Chris Wallace, and will be responsible to Marsh UK’s chief operating officer, Ian Clarke.
Page has held a range of senior positions within Marsh [...]" (2008-9-18)
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Insurers calculate exposure to Lehman Brothers and AIG

"As insurance companies take stock after the collapse of Lehman Brothers and the last minute rescue of AIG, estimates of exposures are emerging.
Friends Provident calculates that its exposure to Lehman Brothers is around £18 million but the life and pensions provider expects any loss to fall well short of this amount when taxes and recoveries [...]" (2008-9-18)
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Hurricane Cost for Energy Insurers

"Marine and energy underwriters from around the world gathered in Vancouver this week for the annual conference of the International Union of Marine Insurance (IUMI). In the wake of Hurricanes Gustav and Ike there was much to talk about. A September 15 article in Lloyd’s List by James Brewer put preliminary estimates of losses to [...]" (2008-9-18)
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Swiss Re reveals $178m AIG exposure

"Swiss Re has declared its exposure to struggling US insurance firm American International Group as $178 million (£100 million), whilst its exposure to the failed Lehman Brothers bank is $45 million (£25 million).
AIG, the primary insurer of Lehman Brothers, was this week rescued from the verge of bankruptcy by an $85 billion loan from the [...]" (2008-9-18)
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IAIS Gathering

"Amid the financial markets turmoil of recent months and developments at certain multinational insurers, the annual conference of the International Association of Insurance Supervisors (IAIS) which will take place in Budapest from October 14 through 17 is likely to see some lively discussions. We note that this year’s conference is focused on the general topic “Insurance [...]" (2008-9-17)
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Supporting the Economy

"Given current concerns about the state of the economy, it’s a good time to review the myriad ways in which both property/casualty and life insurance contribute to state, local and national economies. The 2008 edition of the I.I.I. online publication “A Firm Foundation” shows how insurers’ support of the economy goes far beyond their core [...]" (2008-9-16)
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Ike Claims

"As initial loss estimates following Hurricane Ike start to come in, it’s worth thinking about the insurance coverage issues that might arise in the weeks and months ahead. Attorney Randy J. Maniloff of law firm White and Williams has done just that in an article titled Hurricane Ike – First Impressions on the Impending Insurance [...]" (2008-9-15)
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Subprime Impact

"Insurance executives expect subprime and other credit issues to continue to have a significantly negative impact on the industry’s financial performance in 2009. According to a survey conducted by KPMG, 82 percent of 375 executives attending its 20th annual Insurance Industry Conference expect the credit crisis to have a significantly or extremely negative impact on [...]" (2008-9-12)
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Ike on Texas

"While it’s too early to know the precise location of Hurricane Ike upon landfall, it’s clear that Texas looks to be facing a major storm by the weekend. The Texas Windstorm Insurance Association (TWIA) is the state’s insurer of last resort, providing wind and hail insurance for Texas Gulf coast residential and commercial property owners [...]" (2008-9-11)
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Reinsurance Round-Up

"Reinsurance executives gathered in Monte Carlo this week for the sector’s annual September Rendezvous coinciding with the publication of several commentaries on the state of the reinsurance market. Among them, Swiss Re noted that reinsurers are facing a more challenging environment amid continuing soft market conditions, stock market turbulence and an active hurricane season. Disciplined [...]" (2008-9-10)
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I Have a Babysitter Who Drives My Car with the Kids. Should I Put My Babysitter on My Auto Insurance Policy?

"Auto insurance is designed to follow the car, which means that the coverage you purchased for your vehicle will cover the car regardless of who's driving it." (2008-9-5)
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7 Quick & Easy Financial Rules of Thumb

"When it comes to personal finance, there's a lot to learn. But there are also some shortcuts that can come in handy when you're figuring out stuff like how expensive a house to buy, or how much life insurance to get." (2008-9-5)
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How Do I Make an Inventory List for My Homeowners Insurance?

"Burglary. Fire. A hurricane. Hopefully your home never falls victim to a disaster like these. But if it does, your insurance company will need information on exactly what was lost." (2008-8-29)
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Is My Car Insured if a Friend or Family Member (Not on my Policy) is Driving?

"Auto insurance is designed to follow the car, which means that the coverage you purchased for your vehicle will cover the car regardless of who's driving it." (2008-8-15)
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Can I lower my auto insurance premiums by upgrading my vehicle's safety equipment?

"A lot goes into calculating your car insurance premium: your driving record, your age, the car you drive, where you live, and other things." (2008-8-15)
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Are my Car Electronics and Other Add-Ons Covered by Auto Insurance?

"After-market modifications, equipment, and accessories aren't automatically protected by a standard auto insurance policy. We offer options that can shield your investments." (2008-7-25)
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Will My Car Insurance Rates Go Up When I Have a Baby?

"New parents realize pretty fast exactly how expensive parenthood can be. The good news is, car insurance won't put the squeeze on your family's budget." (2008-7-25)
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I'm Moving to a New Location. Will That Affect My Auto Insurance?

"In most cases, a change in location will mean a change in your auto insurance premium. It's one of the most significant factors that determine the rate you pay." (2008-7-11)
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Should I Wait Until My Auto Insurance Policy Expires to Switch Policies? What if I'd Like to Switch Companies?

"Whether you've changed employers and now have access to less expensive auto insurance coverage, or you're simply unhappy with your current auto insurance provider, switching policies—or carriers—is simpler than you might think." (2008-6-27)
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Medicare: The Basics

"Medicare is low-cost health insurance for people who are 65 or older, or who have certain disabilities or end-stage renal disease." (2008-6-27)
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First-Time Auto Insurance Buyer's Guide

"If you've never had an auto insurance policy before—don't worry. It isn't as complicated as it seems." (2008-6-6)
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Insuring a Teen Driver in a Single-Parent Household

"Whether you're single, divorced, or married, your new teen driver will need insurance coverage as soon as they're licensed" (2008-5-30)
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What Happens During the Claims Process?

"Whether you've been in a fender-bender or a major accident, filing an auto insurance claim with Allstate is easy." (2008-5-23)
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Clarifying the Confusion: A Few Common Auto Insurance Misconceptions

"Know what you have before you need it: a quick review of your auto insurance policy will remind you what's covered, and what's not." (2008-5-16)
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My Child just turned 16 and Now Has a Driver's License. How Will this Affect my Policy?

"First and foremost, if you carry an active auto insurance policy, your teen driver should be added to that policy as soon as she or he gets a valid driver's license." (2008-5-16)
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What Exactly Affects my Insurance Scores? And why does my Credit History Matter to Insurance Companies?

"Your insurance score is a snapshot of how safe or risky you are to insure, and most insurance companies use it to help figure out your premium." (2008-5-2)
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I'm Moving Out of my Parents' House. What do I Need to Know about Car Insurance?

"Auto insurance is as necessary as the gas in your tank. And armed with the right information, you can stay within the law, while also staying within your budget." (2008-5-2)
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What Happens if I Have a Blow-Out or Flat Tire?

"Your tire, as well as any towing fees, may be covered by your Allstate auto insurance policy if you've got Towing and Labor coverage." (2008-5-2)
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Does My Policy Cover the Cost of a Rental Car if My Car is in the Shop?

"Many people assume that rental car coverage is part of any auto insurance policy. But the truth is it's rarely automatically included." (2008-4-18)
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Basic Auto Insurance Information for New Drivers

"If you're a new driver or have never had auto insurance before, you may have questions about your policy." (2008-3-29)
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Will Tickets Have an Impact on my Premiums?

"Your driving record says a lot about you, its your resume for the road. Its also one of the first things that any insurance company will evaluate when considering you as a customer." (2008-3-21)
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Buying Your First Car? Here's What You Need to Know

"You made some important choices about your new car. Now you need to make some equally important choices about your auto insurance. If you want the right coverage, without paying too much, here are some things to think about." (2008-3-15)
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I Know I Need Auto Insurance, But Where Do I Start?

"Researching auto insurance can seem a bit daunting. We can help you shop smartly by clarifying some of the basics and offering valuable insights." (2008-3-7)
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Do I Really Need Auto Insurance?

"If you own or lease a car, auto insurance is as necessary as the fuel in your gas tank." (2008-2-29)
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The financial crisis and the election: The politics of despair

"Wall Street’s meltdown readjusts the race in unexpected waysWITH an investment bank failing, an insurance giant needing a bail-out, the Dow tumbling and panic gripping Wall Street, Barack Obama spoke graciously about his opponent. “I certainly don’t fault Senator [John] McCain for these problems,” he said. He also refrained from blaming him for global warming and Hurricane Ike. But he did fault Mr McCain for his economic philosophy, “a philosophy that says even common-sense regulations are unnecessary and unwise, and one that says we should just stick our heads in the sand and ignore economic problems until they spiral into crises.”Both candidates doubtless wish to tackle the crisis. But they cannot, since neither will be in charge until January and the crisis must be tackled immediately. So each is trying to sound as if he would knock some sense into Wall Street, while tut-tutting that the other fellow supported the policies that got America into this mess in the first place. ..." (2008-9-18)
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Look Before You Peep: A Leafer's Guide

"Leaf-peeping, leafing, fall foliage tours... whatever you call it, it's an enjoyable way to spend fall days." (2008-9-17)
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AIG, an insurance giant, is bailed-out by America's government

"America’s government comes to the rescue of a giant insurance company AMERICAN finance has a new, if reluctant, kingpin: the government. In a dramatic move on the evening of Tuesday September 16th the Federal Reserve agreed to provide American International Group with a loan of $85 billion to help it stave off bankruptcy. In return, either the Fed or Treasury will take effective control of the company, which until recently was an icon of private-sector capitalism. In the space of nine days, the government has found itself having to take charge of both the country’s largest insurer and its two giant mortgage agencies, Fannie Mae and Freddie Mac. The move comes two days after Lehman Brothers, a big investment bank, filed for bankruptcy after being denied federal help, and Merrill Lynch, another Wall Street giant, fled into the arms of Bank of America for fear of being swept away by the hurricane battering global financial markets.As well as writing general-insurance policies all over the world, AIG plunged disastrously into the market for derivatives linked to housing and credit. Its exposure to the murky credit-default swaps market alone is a notional $441 billion, enormous by anyone’s standards. As the market value of these derivatives fell, the firm found itself strapped for capital, and was forced last weekend to approach the Fed, cap in hand. The central bank initially demurred, instead nudging JPMorgan Chase and Goldman Sachs to try to help AIG raise the money from private sources, such as other banks, private-equity firms and sovereign-wealth funds. Those efforts failed, however, and AIG’s predicament worsened on Monday when the big rating agencies downgraded its debt, forcing it to post more than $13 billion of extra collateral with trading partners. At that point officials performed a U-turn and began negotiating an emergency rescue. ..." (2008-9-17)
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Insurance.com's Tips for Hurricane Homeowners and Car Insurance Claims

"Making a hurricane claim on your homeowners or car insurance doesn't have to be hard." (2008-9-12)
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Hurricane Season: Protect Yourself and Your Car

"Hurricane preparation means more than getting comprehensive car insurance. Personal safety and protection are paramount." (2008-9-10)
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Car Insurance for Hurricane Season

"Car insurance may not be your top priority during a hurricane, but preparing now can save you time and trouble later." (2008-8-29)
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Economics focus: Capital ideas

"Can banks use a “capital insurance” scheme to dampen future crises? REELING from billions of dollars of loan losses, banks have started to sell assets and rein in lending to keep their capital from eroding. This may be individually rational, but collectively it is imposing a vicious cycle of tightening credit, weakening growth, and further loan losses on the world economy. Small wonder that, once they get through this mess, many central bankers want to raise capital requirements—at least during good times. Had banks been forced to hold more capital, the boom might have been more constrained, and there would be less of a bust. This sounds sensible. It may also be deeply flawed, according to a provocative new paper* presented at the Federal Reserve Bank of Kansas City’s annual economic conference in Jackson Hole, Wyoming. Compelling banks to hold more capital—typically, equity—goes against shareholders’ interests, because it results in a lower return on equity. This ultimately hurts economic growth because capital is diverted from projects that might have higher returns. In addition, worthy borrowers are denied loans. It may also be counterproductive, by encouraging banks to game the system. ..." (2008-8-28)
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Back to School Driving

"Back to school driving may not make you think of car insurance quotes, but it should make you think about safety." (2008-8-18)
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Second Quarter 2008 Car Insurance Rate Report

"Car insurance rates continued to increase during the second quarter of 2008 according to Insurance.com’s latest report." (2008-7-17)
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Pinching Pennies? Don't Drop Car Insurance

"Driving without car insurance is a serious offense, and your rates could rise if you’re caught without insurance." (2008-5-13)
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