If you don't already have a dart board with Edward Liddy's face on it maybe you should get one. Edward Liddy is the former CEO of Allstate Insurance and the current CEO of AIG. You know AIG from the television commercials and the fact they are most recently in the news for receiving bailout money to the tone of $50 Billion, some of you may even have them as your insurance provider.
On March 19th, Liddy sat in front of a congressional committee and explained why he feels $165 million of the federal bailout money should go to AIG employees as bonuses. Chairman Kanjorski questioned Liddy's priorities, pointing out Liddy's role and stance while at the helm of Allstate, Liddy's company denied contract insurance claims. Kanjorski asked why taxpayers should be forced to pay $165 million in bonuses to AIG employees on the basis of contract, when it appeared that Liddy had no problem denying insurance contract claims made against Allstate, his former company.
Liddy changed the way that Casualty insurance is done in the world. Edward Liddy completely redesigned how the Property and Casualty insurance company pays claims. Liddy implemented a plan to deny and otherwise underpay contract claims to Allstate policy holders. These plans and denials of your claims have secured over $350 million in salary and stock options for Mr. Liddy. To learn more about Mr. Liddy you can read the book, Good Hands to Boxing Gloves: How Allstate Changed Casualty Insurance in America.
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If you don't already have a dart board with Edward Liddy's face on it maybe you should get one. Edward Liddy is the former CEO of Allstate Insurance and the current CEO of AIG. You know AIG from the television commercials and the fact they are most recently in the news for receiving bailout money to the tone of $50 Billion, some of you may even have them as your insurance provider.
On March 19th, Liddy sat in front of a congressional committee and explained why he feels $165 million of the federal bailout money should go to AIG employees as bonuses. Chairman Kanjorski questioned Liddy's priorities, pointing out Liddy's role and stance while at the helm of Allstate, Liddy's company denied contract insurance claims. Kanjorski asked why taxpayers should be forced to pay $165 million in bonuses to AIG employees on the basis of contract, when it appeared that Liddy had no problem denying insurance contract claims made against Allstate, his former company.
Liddy changed the way that Casualty insurance is done in the world. Edward Liddy completely redesigned how the Property and Casualty insurance company pays claims. Liddy implemented a plan to deny and otherwise underpay contract claims to Allstate policy holders. These plans and denials of your claims have secured over $350 million in salary and stock options for Mr. Liddy. To learn more about Mr. Liddy you can read the book, Good Hands to Boxing Gloves: How Allstate Changed Casualty Insurance in America.
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