Wednesday, September 24, 2008
If youâ€™ve been wondering what the implications might be for insurers of the federal governmentâ€™s proposed $700 billion financial bailout plan, a report presented by I.I.I. president Dr. Robert Hartwig before the Excess/Surplus Lines Claims Association focuses on this very topic. Called â€œThe Financial Crisis & the P/C Insurance Industry: Challenges Amid the Economic Stormâ€, the report also includes a discussion of AIGâ€™s $85 billion loan from the Fed, detailing the structure of the agreement. Another section gives an overview of excess and surplus lines market trends.