Shows & Panels
- The 2014 Big Picture on Cyber Security
- AFCEA Answers
- Ask the CIO
- Building the Hybrid Cloud
- Connected Government: How to Build and Procure Network Services for the Future
- Continuing Diagnostics and Mitigation: Discussion of Progress and Next Steps
- Federal Executive Forum
- Federal Tech Talk
- The Future of Government Data Centers
- The Future of IT: How CIOs Can Enable the Service-Oriented Enterprise
- The Intersection: Where Technology Meets Transformation
- Maximizing ROI Through Data Center Consolidation
- Mitigating Insider Threats in Virtual & Cloud Environments
- Modern Mission Critical Series
- Moving to the Cloud. What's the best approach for me
- Navigating Tough Choices in Government Cloud Computing
- The New Generation of Database
- Satellite Communications: Acquiring SATCOM in Tight Times
- Targeting Advanced Threats: Proven Methods from Detection through Remediation
- Transformative Technology: Desktop Virtualization in Government
- The Truth About IT Opex and Software Defined Networking
- Value of Health IT
- Air Traffic Management Transformation Report
- Cloud First Report
- General Dynamics IT Enterprise Center
- Gov Cloud Minute
- Government in Technology Series
- Homeland Security Cybersecurity Market Report
- National Cybersecurity Awareness Month
- Technology Insights
- The Cyber Security Report
- The Next Generation Cyber Security Experts
Shows & Panels
AIG expects $1.3B in losses related to hurricane
Friday - 12/7/2012, 5:40pm EST
NEW YORK (AP) - AIG estimates it will take $1.3 billion in losses related to Superstorm Sandy, more than other major insurance companies have reported so far.
New York-based American International Group Inc. said Friday it will contribute about $1 billion to its U.S. property casualty insurance units to help offset the losses, which are after taxes and include reinsurance recoveries. The company says AIG Property Casualty has paid $2.4 billion in dividends to AIG in 2012.
The losses will be included in the company's fourth-quarter results.
On Wednesday, Travelers Cos. Inc. estimated $650 million in losses from the storm after taxes and reinsurance recoveries. Allstate Corp. estimated last week that it had $1.08 billion in catastrophe losses during October, mostly from damage to homes and autos from Sandy.
The federal government has distributed about $2 billion in aid to the 11 states that were hit by the storm, which made landfall on Oct. 29. On Wednesday, Federal Emergency Management Agency Director Craig Fugate told the House Transportation Committee that the government's disaster relief fund had about $4.8 billion remaining, enough to fund recovery efforts through early Spring.
New York, New Jersey and Connecticut have appealed for more aid immediately, seeking another $83 billion.
AIG shares rose 87 cents, or 2.6 percent, to $34.13 Friday. They gave back 68 cents to $33.45 in aftermarket trading.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)