Insurance News

Posts Tagged ‘Amid

Motorists unable to afford payments on pricey cars and gas-guzzling sport utility vehicles in this recession are turning to a time-tested financing solution: matches.

Insurance cheats are torching their vehicles in remote deserts. They’re pushing them off cliffs. They’re sinking them in lakes or ditching them in Mexico in the hopes of getting their policies to pay off, fraud investigators say.

Nationwide, suspicious vehicle fires Read the rest of this entry »

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NEW YORK (Reuters) – As hurricane season kicks off and the economic recession continues to take a toll on economies worldwide, reinsurers must make sure they are sitting on a bigger capital cushion, said executives at an insurance conference on Tuesday.

“This is the year you don’t bet the bank. You preserve capital,” said John Charman, chief executive of Bermuda-based insurer and reinsurer Axis Capital (AXS.N: Quote, Profile, Research, Read the rest of this entry »

NEW YORK (Reuters) – Hartford Financial Group (NYSE:HIG – News) posted its third straight net loss and said it plans to stop selling new policies in Japan and the United Kingdom, as the insurer reeled from the same weak financial markets that triggered a net loss at MetLife Inc (NYSE:MET – News).

Both posted results worse than analysts had expected, and their shares dropped after hours, with Hartford down 12 percent.

But Hartford Read the rest of this entry »