The Story Behind AIG In 2008 ● Last Major Historical & Compliance Update: June 18, 2026 | Verified for Financial Regulatory & NY DFS Compliance Benchmarks Quick Answer: In September 2008, AIG collapsed due to its London-based Financial Products division (AIGFP) selling billions in unhedged Credit Default Swaps (CDS) backed by subprime mortgages without adequate…
Why Every Couple Needs Wedding Insurance for Peace of Mind Ah, weddings—the magical day where love conquers all, dreams come true, and, oh yeah, you spend more money than you did on your first car. The average U.S. wedding clocks in at a jaw-dropping $30,000, but if you’re tying the knot in New York or…
Insurance in the Face of Catastrophes Insurance can play a vital role in helping people and businesses recover from catastrophes. By providing financial protection against losses caused by natural disasters and other events, insurance can help people and businesses to rebuild their lives and livelihoods. Catastrophes can have a devastating impact on people and businesses.…
Insurance Policies for the World Trade Center The insurance policies for the World Trade Center buildings 1, 2, 4, and 5 had a total value of $3.55 billion. After the September 11 attacks, the owner of the buildings, Larry Silverstein, argued that he should be paid twice this amount ($7.1 billion) because the two airplane…
September 11th & Insurance: A Myriad of Claims It has been 22 years since we remember the horrendous attacks that happened in downtown Manhattan. Since then terrorism has become a major threat to the global economy, and it can also have a significant impact on the insurance industry. When a terrorist attack occurs, it can lead…
How to Insure a Home-Based Business. Running a home-based business can be a great way to be your own boss and have more flexibility in your schedule. However, it’s important to make sure you have the right coverage to protect your business and your assets. Homeowners insurance: Your homeowners policy may already cover some of…