Wednesday, September 23, 2009

Lying Looters Large and Small: Insuring Profits

Now we start getting into the big numbers. Seven figure territory.

"Insurer must cover thefts from state

The state Appeals Court has ruled that an insurance company must pay the government for its remaining losses from a $9.4 million theft from the Treasury in the late 1990s. The theft remains the largest loss of state money in Massachusetts history. Attorney General Martha Coakley said Hanover Insurance Co. must pay the state $415,000, plus interest that will be determined by the Supreme Judicial Court (AP)."

You can't trust anyone, can you?

"Insurer posts smallest loss in a year" by Bloomberg News | July 30, 2009

NEW YORK - Hartford Financial Services Group, an insurer that took $3.4 billion in federal aid, posted its smallest loss in a year and beat analysts’ estimates as a stock market rally eased the cost of protecting savers from asset declines....

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