Day: October 2, 2008

The Hartford to Bankruptcy? Harry Reid Welcome to Slabbed.

To our readers who also post with us on Yahoo ALL I’ll theorize that Gator is a Harry Reid Yahoo screen name. 😆

Ummm Harry, insurers are getting killed today on the street thanks to your comments. If you aren’t the Gator Senator, certainly you are now on his Christmas card list eh?

Shares of insurers mostly fell Thursday amid overall market uneasiness about the economy and whether the financial bailout package will be able to help the economy avoid a recession. The remarks also came a day after Senate majority leader Harry Reid said a major insurer is on the verge of going bankrupt, but analysts generally said that was not moving the financial sector or the overall market.

During a press conference Wednesday, Reid, a Democrat from Nevada, did not disclose the name of the insurer, but said it was brought up by another senator during recent meetings. Continue reading “The Hartford to Bankruptcy? Harry Reid Welcome to Slabbed.”

Mississippi dreaming while North Carolina has nightmare

shop around…That’s what it is all about. – great advice from Commissioner Chaney reported in the Sun Herald’s story on the legislative hearing our House Insurance Committee held on the Coast earlier his week.

While Chaney had to have been dreaming when he told members of the Mississippi Legislature a shopping trip was the way to solve the insurance problem, lawmakers in North Carolina were discussing a nightmare – examining whether the insurance industry is prepared financially to handle a monster hurricane and billions of dollars in claims.

A closer look at the Mississippi story suggests a disconnect of similar distance here.

The state House Insurance Committee on Tuesday night heard from South Mississippi homeowners who said they want more regulation of companies selling policies here.

Homeowners from across the Coast participated in a public hearing on the issue at the Mississippi Coast Coliseum and Convention Center on Tuesday. The meeting included representatives of the insurance industry and local elected officials… Continue reading “Mississippi dreaming while North Carolina has nightmare”