SEC Eases Capital Rules for Insurers

[NVMojo]

Today: October 04, 2005 at 12:26:21 PDT

WASHINGTON (AP) - The Securities and Exchange Commission is easing rules for insurance companies to raise capital, responding to concern that the billions of dollars of losses from Katrina and Rita could make it harder for the insurers to pay victims' claims.

The SEC announced the move Tuesday, saying it would among other things allow publicly traded insurance companies to submit reduced paperwork for registering new issues of stock with the agency.

more...

http://www.lasvegassun.com/sunbin/stories/invest-corp/2005/oct/04/100403171.html

[jobycom]

1. Oh good. Let's undo everything we did to prevent another Great Depression

just as the conditions for another Great Depression are aligning. Damn, we are run by idiots.

[NVMojo]

4. they are using everything to dismantle this country, even mother nature

[gratuitous]

2. Phew! The poor, beleaguered insurance companies breathe a sigh of relief

But if you lost your job, your home, and your everything in Katrina or Rita, you'd better not fall behind on your financial obligations, you peon.

[Ksec]

3. Naturally.......

big surprise there...

[yellowcanine]

5. Oh THAT'S a real good idea. Reduce the equity requirements so that

a big disaster will bankrupt the insurance companies. How does that help the insured or the taxpayers?

[Selteri]

6. This is the worst thing they coudl do - Having been in the industry

I can only say that there is nothing worse that they could do than to undermine those rules so completely as what they have chosen to do.