The News Review:
- The Right Insurance Rules
- SeaBright Insurance Holdings Authorized to Begin Trading on New …
- New faces run for NC treasurer, insurance chief
- Keeping our eye on the ball: Defaulting home mortgages are the problem
The Right Insurance Rules
Washington Post, United States
Among the issues being debated, reportedly, is whether the Treasury should expand its rescue program to include insurance companies. And looking beyond the immediate situation, debate is brewing over whether the federal government or the states can do a better job of regulating insurance companies. Arguments over which jurisdiction should take the lead run the risk of obscuring the most important factor determining the efficacy of financial regulation. Today’s crisis proves that strong capital requirements are critical for safeguarding consumers and the financial system, whatever level of government oversees insurers. Even the most knowledgeable and assiduous regulators have limited capacity to halt irresponsible risk-taking and speculation.
SeaBright Insurance Holdings Authorized to Begin Trading on New …
WELT ONLINE, Germany
bwtextaligncenter {text-align: center}–>SeaBright Insurance Holdings, Inc. (Nasdaq:SEAB) today announced thatthe Company has been authorized by the NYSE to trade on the NYSE underthe ticker symbol “SBX. The Company will move from the NASDAQ Global Select Market (“NASDAQ”)to the NYSE and expects to begin trading on the NYSE on November 6,2008. The Company will continue to trade on the NASDAQ until that time. “SeaBright remains committed to providing itsshareholders with an efficient trading platform and is honored topartner with the New York Stock Exchange,”said John G.
Related: Schwab To Host Washington DC Area Trading Forum
New faces run for NC treasurer, insurance chief
Forbes, NY
“For many people, their pension is a portion of their retirement savings. They need to know what part their pension will play in” the entire picture, he said. Another state post where there will be a new face is insurance commissioner. Republican John Odom, Libertarian Mark McMains, and Democrat Wayne Goodwin are competing for outgoing Insurance Commissioner Jim Long’s seat. He decided to step down after 24 years. The main issue confronting the next commissioner will be preserving the plan North Carolina created to insure coastal property. The Insurance Underwriting Association was supposed to be a last resort for property owners who couldn’t afford private insurance.
Keeping our eye on the ball: Defaulting home mortgages are the problem
Seattle Post Intelligencer
That saddled increasing numbers of households with mortgages that exceeded the market worth of their houses, resulting in record defaults. The incongruity of the treatments extended the financial system got so bad that a key player in the triumvirate overseeing the government bailout and rescue efforts blew the whistle. Sheila Bair, chairwoman of the Federal Deposit Insurance Corp. , told The Wall Street Journal that the emphasis on helping institutions, necessary as it is, avoids the root problem. She stated that “it’s the borrowers defaulting. That is what’s causing the distress at the institution level. So why not tackle the borrower problem?”
In addition, the aid directed at the institutional level is problematic.