This article relates to the previous blog…
Reports have stated that the federal government is thinking about adding life, bond, and mortgage insurance companies to the list of recipients for bailout money, and property/casualty insurers do not want any part of the deal. The insurers are ready to decline any funds if the U.S. Treasury decides to make them available.
A survey by the American Insurance Association (AIA) shows that the majority of insurers represented by them do not agree with property/casualty insurers being on the bailout recipient list and will not participate if they do so.
The chairman of ACE Group and AIA, Evan Greenberg, stated that AIA members "believe that, as property/casualty insurance writers, they are well-capitalized and well-positioned to weather the current financial market crisis without the assistance of the CPP announced by Treasury.”
http://www.insurancejournal.com/news/national/2008/10/27/95021.htm
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment