Will AIG Bankruptcy Cancel E&O Policies?

[James H. Bushart]

It must be scary conducting business in a state with mandatory E&O and see AIG begging for handouts on Wall Street.

Do you have a back-up plan?

[Nick Gromicko]

Insurance companies have mandatory reserves to pay claims whether in bankrupcy or not, I believe.

[Brian E. Kelly]

Originally Posted by jbushart

It must be scary conducting business in a state with mandatory E&O and see AIG begging for handouts on Wall Street.

Do you have a back-up plan?

They don't really want to provide coverage anyway, I hope AIG goes under.

[whandley]

AIG is a giant conglomerate with business operations, dealings and assests across the global financial spectrum. The concern is that with their massive investment into the sub-prime portfolio markets has had a devestating negative impact on their cash flow, reserves and ability to function on a daily basis. If they fall, it will have a broad impact on the insurance and financial industries.

Here's a list of some of there holdings:

http://www.aigag.com/life/life.nsf/c...aigag_timeline

[James E. Braun, CMI]

I heard insurance companies are federally insured for up to $100,000. So do not get yourself sued for more than $100,000, if you do I guess you do not really need your house, car or belongings. It is just material things anyway.

[Joseph Burkeson, CMI]

If AIG should be declared bankrupt there will be much more to worry about then your E&O insurance, this will effectively remove credit from the banking system, the only home inspections you will be able to perform will be for one of McCain's new homes because he will be one of the few "Elitists" who will be able to pay cash.

This is just another ugly notch in an already tainted Bush legacy, GWB is beginning to make Herbert Hoover look like a brilliant president who understood the economics of his time.

[Michael Larson]

Originally Posted by jburkeson1

If AIG should be declared bankrupt there will be much more to worry about then your E&O insurance, this will effectively remove credit from the banking system, the only home inspections you will be able to perform will be for one of McCain's new homes because he will be one of the few "Elitists" who will be able to pay cash.

This is just another ugly notch in an already tainted Bush legacy, GWB is beginning to make Herbert Hoover look like a brilliant president who understood the economics of his time.

You need to pay more attention Joey.

This cannot be laid at the doorstep of Georg Bush with any credibility.

Not that you had much anyway.

[James H. Bushart]

Originally Posted by mlarson

You need to pay more attention Joey.

This cannot be laid at the doorstep of Georg Bush with any credibility.

Not that you had much anyway.

Mike....just out of curiosity.

What steps has the current president taken in these last eight years to divert or offset this calamity? I am not aware of any.

[Michael Larson]

Originally Posted by jbushart

Mike....just out of curiosity.

What steps has the current president taken in these last eight years to divert or offset this calamity? I am not aware of any.

Back at ya Jim.

What should Bush have done?

[Joseph Burkeson, CMI]

Originally Posted by mlarson

Back at ya Jim.

What should Bush have done?

I boldly say that Bush should not have pissed away the Bill Clinton budget surpluses on a failed revenge war in Iraq that will in the end cost billions of dollars that could have been spent on American failing infrastructure, and that is just a start Mikey.

[James H. Bushart]

Originally Posted by mlarson

Back at ya Jim.

What should Bush have done?

Then we both agree that he did nothing. Fine.

As the president of your home inspection business, Mike....on whom does the ultimate responsibility lie for the good things and bad things that happen to it?

[Michael Larson]

Originally Posted by jburkeson1

I boldly say that Bush should not have pissed away the Bill Clinton budget surpluses on a failed revenge war in Iraq that will in the end cost billions of dollars that could have been spent on American failing infrastructure, and that is just a start Mikey.

And prey tell oh wise one what does the war in Iraq have to do with the current banking and mortgage crisis and a very brief surplus of Billy's.

[Joseph Burkeson, CMI]

Originally Posted by mlarson

And prey tell oh wise one what does the war in Iraq have to do with the current banking and mortgage crisis and a very brief surplus of Billy's.

Even some one as pig-headed as you can connect the dots, just reach in your pocket or check your IRA account dipsh!t.

[Michael Larson]

Originally Posted by jburkeson1

Even some one as pig-headed as you can connect the dots, just reach in your pocket or check your IRA account dipsh!t.

Oh no, not the connecting the dots ploy!

You are disconnected from reality.