Word: aig
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...against the price gouging that often occurs after disasters. And, notes Mogil, anyone with a home worth more than $500,000 should look at a guaranteed-replacement-cost policy that pays to rebuild no matter how high costs go. Only a few companies--including Chubb, Fireman's Fund and AIG--offer such policies, but not in all states...
Unfortunately, most business customers don't know how to determine their own security risk. "They just wing it, largely," Vatis said. Companies such as AIG and Chubb offer cyberinsurance, but the industry lacks the actuarial data it has for traditional lines. Large companies can't just redesign products with more deeply embedded security features, because customers don't take well to mandates to completely trash their old systems for new ones. "It would be considerably easier if I were allowed to start from the ground, build a secure system and deploy," said Aucsmith. Until that happens, the data we entrust...
Lander and the institute faculty will develop its research priorities, but will ultimately report to an executive committee consisting of Summers, MIT President Charles M. Vest and Eli Broad, who is currently chair of financial services giant AIG SunAmerica...
...Broad donation is not an endowment: it is earmarked to directly fund research over the next decade. It is also unusual in that Eli Broad—chair of financial service giant AIG SunAmerica and a noted philanthropist who helped fund the Gehry-designed Walt Disney Concert Hall in downtown Los Angeles—has no prior connection to MIT or Harvard...
...service where it's available, according to the Profit Sharing/401(k) Council of America, a nonprofit group that promotes saving. "People just don't have the confidence to push forward without a real person walking them through it," says Richard Lindsey, a senior vice president at insurer AIG Valic. The firm is close to announcing that it will start providing financial planners to the faculty at Duke University later this year...