Copyright: The Associated Press. All rights reserved. Source: Associated Press WASHINGTON_Wall Street executives said Wednesday they underestimated the severity of the 2008 financial crisis and apologized for risky behavior and poor decisions. They also defended their bonus and compensation practices to a skeptical commission investigating what caused the collapse. Americans are furious and “have... 

By Timothy F. Kirn December 11, 2009 A professor at the University of Illinois at Chicago says it would be feasible for insurance companies to offer divorce insurance. J. Christopher Westland, a professor of information and decision sciences, says he began sketching out the actuarial tables for such insurance as an exercise, prompted initially by watching a friend go through a messy divorce and its... 

By Rodd Zolkos What makes a company a great place to work? In the case of the 33 companies among Business Insurance’s 2009 Best Places to Work in Insurance, the answers go well beyond pay and benefits. The companies among this year’s 33 Best Places to Work in Insurance also earned high marks from their employees in areas such as leadership and planning, corporate culture and communications,... 

By Staff Reporter Co-payment, co-insurance and deductibles will be waived for the administration of the H1N1 vaccination. Humana has announced that the company will cover the administration cost of the H1N1 (swine flu) vaccine for all fully insured members including those members who have a benefit plan that excludes immunisation coverage. All co-payment, co-insurance and deductibles will be waived... 

A survey claims the 45% of young drivers named on their parents’ insurance policy could be driving without valid cover. The practice, known as fronting, usually involves a parent claiming to be the main driver and including the young person as another named driver. An insurance firm claims as many as a quarter of a million young drivers are doing this. They could be get up to 6 points on their... 

Following on from a recent research report concerning private equity investors’ views of the asset class in the current climate, Preqin has been talking to insurance companies to see how the financial crisis and economic downturn of the past 12 months have affected this type of institutional investor’s plans for, and expectations of, the private equity asset class. Given the extent and severity... 

By Roberto Ceniceros A year after the near-failure of American International Group Inc., risk managers say they have adjusted their insurance programs and increased their scrutiny of insurers’ financial position. In fact, they are looking beyond the insurer to scrutinize its parent company. Many say AIG’s fall was a wake-up call, forcing them to diversify their insurance programs by moving...