December, 2007
NEEDHAM, Massachusetts?The subprime mortgage crisis has exposed the poor integration of risk management across organizations and is a harsh reminder that financial risks are globally interdependent, new research claims. Many financial institutions continue to view and manage risk in the...
NEW YORK (Reuters)?U.S. prosecutors plan to call Berkshire Hathaway Inc.'s Warren Buffett as a witness in a criminal trial of former officers of its General Re Corp. reinsurance unit, according to a court filing Monday. Four former General Re officers, including one-time Chief Executive Ronald...
NEW YORK?New York Gov. Eliot Spitzer and New York City Mayor Michael Bloomberg sent a letter Monday to congressional leaders asking them to include a so-called ?reset? provision in any legislation designed to extend the federal terrorism insurance backstop. The extension measure approved by the...
HOUSTON?The National Assn. of Insurance Commissioners? subgroup charged with modernizing U.S. reinsurance regulation voted Sunday to adopt a three-point framework for change. Several complex issues, including collateral requirements for non-U.S. reinsurers, were slated for further discussions....
DANA POINT, Calif. (Reuters)?Rating cuts for bond insurers and an increase in default notices for collateralized debt obligations are among main threats to stability in U.S. credit markets in 2008, UBS A.G., BlackRock Inc. and other analysts said Monday. "There is another domino out there to fall....
NEW YORK?The New York Department of Insurance has asked a unit of UnitedHealth Group Inc. to delay implementing a new policy that would require hospitals to provide notice within 24 hours of admitting a patient, but the insurer launched an amended policy on Monday. In a statement, New York...
