When An Insurance Company Goes Bust
American International Group (AIG), the nation's largest insurer, teetered on the verge of collapse until the federal government rushed in with an $85 billion bailout package. That initial package, however, has proved insufficient to stabilize AIG, so the government has responded with a new $150 billion financial rescue package for the faltering company.
Although not as dramatic as the turmoil facing AIG, other major insurers have begun reporting significant losses, in...
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