Current Insurance News Today

Insurance chief says AIG bailout was unavoidable (Reuters via Yahoo! News)
Washington policy-makers had no choice but to rescue American International Group Inc after a dramatic investor crisis left the giant insurer starved for cash, New York insurance chief Eric Dinallo told lawmakers on Tuesday.

Tue, 07 Oct 2008 02:08:27 GMT

Turkish insurance demand may slow down-AK Sigorta (Reuters via Yahoo! Philippines News)
ISTANBUL, Oct 7 (Reuters) - The Turkish insurance sector may see a slowdown in demand in the near future due to the global financial crisis, the chairman of Turkish insurance group AK Sigorta told Reuters on Tuesday.

Tue, 07 Oct 2008 08:09:18 GMT

Taiwan doubles bank deposit insurance (Bangkok Post - Thailand's English news)
Taiwan's premier said Tuesday the island was doubling the amount of insurance it offers on bank accounts as it seeks to bolster consumer confidence in the wake of the world financial crisis.

Tue, 07 Oct 2008 09:01:42 GMT

FDIC chair: Higher insurance to boost confidence (AP via Yahoo! Finance)
The head of the FDIC says the new increase in federal deposit insurance limits will not solve all banking industry ills but will bolster public confidence in banks' safety. And she said a resolution was near in the legal tussle between Citigroup and Wells Fargo over which one will buy Wachovia.

Mon, 06 Oct 2008 19:30:22 GMT

Insurance giant AIG's role in market crisis probed (The Star)
WASHINGTON (AP) - The government's rescue of insurance giant American International Group Inc. last month is getting a critical eye from lawmakers examining the chain of events that forced a $700 billion bailout of the financial industry.

Tue, 07 Oct 2008 06:53:47 GMT