Traditionally focused on insuring municipal deals, bond
insurers got into trouble after they ventured into structured
products to boost returns.
Massive delinquencies on U.S. subprime mortgages battered
the credit quality of these products, increasing the capital
that bond insurers need to maintain their crucial “AAA”
ratings.
As bond insurers’ ratings are downgraded, so are ratings on
much of the debt […]
NEW YORK, March 26 (Reuters) - A coalition of
environmentalists, consumer advocates and insurers has formed
to oppose proposed legislation that would expand a federal
flood insurance scheme.
The measure would add coverage for wind damage, which the
coalition says could prove costly for taxpayers and send the
wrong message about developing environmentally-sensitive,
catastrophe-prone areas.
Proponents of revamping the federal […]
Property group City Pacific (CIY.AX: Quote, Profile, Research) said yesterday that
there was no threat to A$1.1 billion in loans its First
Mortgage Fund had extended to property developments. “We’ve
never had issues with loans being repaid,’ said managing
director Phil Sullivan. He also dismissed concern over a
Victorian Government termination notice to City Pacific’s
Martha Cove development on the […]
At a time when classic drama on TV is defined by the elimination round on Survivor, it’s a pleasant surprise to see ABC turn over three hours of prime-time real estate on Monday to A Raisin in the Sun, Lorraine Hansberry’s groundbreaking play about alcoholism, bitterness, class, racism and almost everything else that gets in […]
A day after New York’s attorney general took aim at UnitedHealth Group’s health-care reimbursement procedures, the ultimate financial implications for the nation’s largest insurer were yet to come into focus.
But there is little doubt that Andrew Cuomo’s probe has handed company executives a significant distraction and a bit of a black eye.
Although some analysts believe […]
MGIC shares shed 11% on report of huge loss
Shares of MGIC Investment Corp. dropped 11 percent, after the Milwaukee-based mortgage insurance company said that it lost $1.47 billion in the fourth quarter, believed to be the largest quarterly loss by a public company in Wisconsin. MGIC, which has been battered by the collapse of the […]
Q Can I stop getting all those catalogs and credit card offers in the mail?
A You can reduce them by registering with Direct Marketing Association to have your name removed from their mailing lists. To do that:
%26bull; Register online at www.dmachoice.org. Click on Remove My Name From Those Lists in the left-side menu. Although […]
The office of Andrew Cuomo, attorney general for the state of New York, has been the source of a number of major consumer and civil investigations in recent years, including:
%26bull; 2002 - 2003: An investigation of Wall Street investment firms resulted in a $1.4 billion settlement by 10 firms accused of conflict of interest in […]
Led by New York Attorney General Andrew Cuomo, a phalanx of interests charged Minnetonka-based UnitedHealth and its Ingenix division with denying millions of dollars in claims for millions of Americans when they use doctors outside of their insurer’s network.
Cuomo said Wednesday that he plans to sue UnitedHealth, launch an industrywide investigation into billing procedures and […]
Health care remains a top voter concern. Here’s some help on candidates’ stated positions:
Q Will all Americans be covered by health insurance?
Clinton: Yes. Huckabee, McCain, Obama: No.
Clinton would mandate that all individuals have health insurance. She has not specified how this would be enforced. Obama proposes a stepped approach starting with a mandate to cover […]