AIG Chief Resigns

June 16, 2008

MSN Money is reporting on the resignation of AIG Chief Martin Sullivan in the wake of the mortgage meltdown. Here’s an excerpt:

Another Wall Street executive bites the dust because of the subprime-mortgage market mess. Martin Sullivan is stepping down as chief executive officer at American International Group (AIG, news, msgs) amid intense shareholder pressure. Big shareholders — including billionaire investor Eli Broad and Legg Mason (LM, news, msgs) fund manager Bill Miller — had written letters to AIG’s board of directors, pushing the company to make changes to its leadership. Shares of AIG, a Dow stock, fell 43 cents, or 1.3%, to $33.75 in midday trading.

Click here to read the entire article.

Insurance Rates Moderate

June 16, 2008

According to an article in the Courier Journal, Kentucky and Indiana residents are likely to face lower insurance premiums this year.  Auto insurance rates in Kentucky and Indiana are expected to fall for a second year, and homeowners rates are due to rise only slightly, if at all, after years of steeper climbs.

To read the entire article, click here.

The Court of Appeals has posted its minutes for June 13th, here.  Unfortunately, the links to the reported cases still will not work.  As soon as I can get some information on those cases dealing with tort and insurance law, I’ll post it.