Posted by Andy Gregory on Thu, Feb 26, 2009 @ 09:10 AM
I sat down this morning over coffee with a combination of the Boston Globe and FOX 25 News. The bad news continues to come; In the fourth quarter, AIG lost $60 Billion , The Hartford lost $806 Million, and CNA lost $336 million. Business Insurance reported today that federal authorities are meeting with AIG execs to devise a "controlled" breakup of AIG into three separate entities. Depending on opinions, I think it's safe to assume that at best, we have no idea how that's going to turn out. I know I've said it before, but I'll say it again; the hard market is coming, and you had better be prepared for it. Premiums, terms and conditions, capacity, insurer ratings, you name it.