Car Insurance

American International Group, which has been bailed out by the US authorities, plans to remove AIG from the name of its US auto insurance unit, aigdirect.com, and rebrand it as 21st Century Insurance in Jan 2009. The auto unit also plans to cut 6.6% of its work force.

By Tom Incantalupo, Newsday, Herman Melville, N.Y.
Aug. 7–State regulators said yesterday they have ordered auto insurance companies to factor in a diminution in drive by New Yorkers because of high gasolene prices earlier requesting rate addition.
In response to the order, Geico, which collects about 20 percentage of the state’s $10 billion in annual auto insurance [...]