White House, top ally, feud over health goal
The White House and one of its top allies in the US Congress feuded Tuesday over a target date for enacting President Barack Obama’s historic but embattled health care reform bill this month. Obama spokesman Robert Gibbs stuck with his prediction that the House will vote on the sweeping legislation by March 18, when the president leaves for a week-long journey to Indonesia and Australia, calling it a “doable” time frame. “The information I gave out last week was based on conversations with staff that I had had here in the... Lire la suite
US insurance giant AIG has agreed to sell its Asian arm, AIA, to British insurer Prudential for around 35 billion dollars
US insurance giant AIG has agreed to sell its Asian arm, AIA, to British insurer Prudential for around 35 billion dollars (26 billion euros, 23 billion pounds), a source close to the deal said. American International Group (AIG), which received a huge taxpayer bailout to stave off collapse during the financial crisis, had been persuaded to let Prudential take over its Asian businesses, said the source late Sunday. The deal will transform Prudential into the world’s top non-Chinese insurer by market capitalisation, ahead of major competitors... Lire la suite
Motor insurance premiums to double for motorists speeders
Motorists convicted of speeding could see the cost of their motor insurance premiums almost double according to research by moneysupermarket.com, which also reveals the UK’s worst speeding culprits*. The price comparison site analysed almost three million motor insurance quotes over a year from motorists with driving convictions. It reveals boy racers in East Dunbartonshire, Scotland, are the worst offenders – with over half (54 per cent) of all the speeding convictions in the G62 postcode area belonging to the male drivers aged 17-21. Also... Lire la suite
Fraud costs UK £30 billion with £2 billion lost in insurance fraud
The National Fraud Authority (NFA) has released the UK’s first comprehensive fraud estimate which estimates that fraud costs the UK over £30 billion a year or £621 per adult. The public sector accounts for 58 per cent of the total figure, the private sector 31 per cent and fraud against individuals 12 per cent. The public sector amount represents a relatively small percentage when taken in context of the sector’s overall turnover. For example, within this figure tax fraud, the highest single area of fraud loss, estimated at £15.2... Lire la suite
Space insurers expected to generate more than $400 million in profit for 2009
Space insurers are expected to generate more than USD400 million in profit for 2009 provided there are no claims before the end of the year, according to Aon’s International Space Brokers, the largest specialist risk adviser in this sector. The space insurance market has been very profitable over the last five years and this will inevitably lead to more competitive premiums for satellite operators in the New Year as the capacity for space risks continues to increase. In 2009, more than USD800 million of premiums is expected to be paid for ‘all... Lire la suite
