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Delta Lloyd, consumer organizations agree on unit-linked insurance compensation
Aviva, a provider of life and pension products, has announced that its Dutch business, Delta Lloyd Group, and the Verliespolis and Woekerpolis Claim Foundations have reached an agreement on a financial compensation arrangement for unit-linked insurance policyholders.
The agreement represents a considerable improvement for customers on the recommendation made by the Financial Services Ombudsman in March 2008. It simultaneously constitutes the mediation result of an earlier case that Verliespolis had taken to the Ombudsman against Delta Lloyd.
The foundations jointly represent some 200,000 policyholders. The VEB (Association of Stockholders), the VEH (Homeowners' Association) and the Financial Services Ombudsman support the result achieved after months of negotiations...
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AFR Insurance Delegation Salutes Idaho Officials for Assistance in Expansion
 As the American Farmers and Ranchers Insurance Company expands into 24 western states, President and CEO Ray L. Wulf, AFR Executives and Members of the AFR Board of Directors met Idaho Governor Butch Otter and Idaho Department of Insurance Director Bill Deal to express their appreciation during the week of August 18th...
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AIG Asks Fed for $40 Billion in Aid
New York — The New York Times is reporting that American International Group (AIG) is seeking a $40 billion bridge loan from the Federal Reserve, as it faces a potential downgrade from credit ratings agencies that could spell its doom, a person briefed on the matter said Sunday night.
Ratings agencies threatened to downgrade the insurer’s credit rating by Monday morning, allowing counterparties to withdraw capital from their contracts with the company. One person close to the firm said that if such an event occurred, AIG may survive for only 48 hours to 72 hours.
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