Archive for September, 2008

Statement by Federal Reserve on AIG

Monday, September 29th, 2008

Interesting press release today from the Federal Reserve Bank of New York concerning their transaction involving AIG: We understand the importance of keeping AIG’s regulated subsidiaries which include its insurance companies well capitalized, and will continue to work with their regulators. Policyholders across the entire AIG family should take comfort from the fact that AIG […]

Tropical Storm Kyle

Saturday, September 27th, 2008

Tropical Storm Kyle is forecasted to turn into a category 1 hurricane sometime today but doesn’t look to be much of a problem for major cities on the east coast. Still if you are traveling to or through the New England area in the next day or two it could cause some travel delays or […]

NAIC News Release – AIG Insurance

Friday, September 19th, 2008

With all of the news about AIG I thought the following article would be of interest: NAIC News Release, September 16, 2008 – “We have a very strong message for consumers: If you have a policy with an AIG insurance company, they are solvent and have the capability to pay claims. Our job is to […]

What if my insurance company goes bankrupt?

Tuesday, September 16th, 2008

In the past several days we’ve all heard about the crisis going on with AIG and their recent attempts to raise capital to forestall a decrease in their credit ratings. We have heard that bankruptcy is one option that AIG’s management might have no recourse but to use. That raises the question of: What happens […]

Does the Pre-Existing Condition Exclusion Only Apply to Family Members Who are Traveling?

Friday, September 12th, 2008

No – it applies to all Immediate Family Members, travel companions and their Immediate Family Members- whether they are traveling or not. This is an important detail to pay attention to because most travelers think that the pre-existing condition exclusion only applies to them – the ones going on the trip. If you are concerned […]