Financial Schools Reviews

Australian insurance major QBE Insurance Group is seeking to allay investor fears over its exposure to the BP oil spill disaster, and reiterated the point that it has significant re-insurance cover, which would be more than adequate to cover large claims.

QBE’s stock price has taken a battering over the last month or so, and has lost 15 per cent since the start of April, in large part because investor fears over the size of its exposure to the disaster in the Gulf of Mexico.

On Thursday, the insurer released a statement saying that the market update it released at the end of April provided specific details on large individual risk and catastrophe claims. T

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In an ailing economy, it’s common to see a jump in scams as con artists try to separate the desperate from their hard-earned money. In our current downturn, confusion over health care reform and high unemployment are providing rich ground for scammers peddling a fast-growing crop of fake health plans.In 2009, regulators in 37 states told the nonprofit Coalition Against Insurance Fraud that, while fraud of all sorts is increasing, health insurance scams are the fastest-growing. “The increase in bogus health insurance was ‘much higher’ than in any other category,” says a coalition report. The Federal Trade Commission also is investigating the problem.

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SINGAPORE, May 30 /PRNewswire-Asia/ — Sembcorp Industries (Sembcorp) today (30 May 2010 – USA / 31 May 2010 – Singapore) announces that following the commencement of its wholly owned subsidiary Sembcorp Utilities’ tender offer for all of the issued and outstanding common shares of Cascal N.V. (Cascal) on May 21, 2010, Biwater Investments Limited, the majority stockholder of Cascal, has tendered its 17,868,543 shares of Cascal in the tender offer in accordance with the previously disclosed tender offer and stockholder support agreement. Full Article…

Banc-assurance group Suncorp-Metway is returning the residential mortgage backed securities market, in a further sign of growing confidence, pricing a $1 billion issue, after investor demand forced the company to double the size the original issue from $500 million.

It is a tale worthy of an airport-kiosk thriller.

The mother-in-law of a nationally known executive is found dead in her bathtub. She is fully clothed from an evening out at a martini bar, high heels still on her feet. The authorities rule she accidentally drowned.

Months later, her family learns that the last person to see the woman alive — a local businessman half her age — had a $15 million insurance policy on her life, payable to his company. The scenario is playing out in real life in a civil lawsuit in federal court in Indianapolis. The mother-in-law, Germaine “Suzy” Tomlinson, died in September 2008 at age 74.

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