AIG Bailout Could Limit ‘Riskier’ Brownfield Redevelopment Deals
It’s been a roller coaster ride for the past several weeks as a substantial number of significant financial institutions have required federal assistance, including American International Group, Inc., the parent company of AIG Commercial Insurance. Developers are understandably nervous about AIG’s willingness to pay claims under existing environmental insurance policies and its appetite for risk going forward. So should you, as a developer, be worried? In a press release issued on September 16, AIG (AIG, Inc.’s subsidiaries including AIGCI and AIG Environmental and are legally distinct entities) said that it was indeed financially sound, and that AIGCI’s capital position had not been diminished by its parent’s financial problems. It said that it had a statutory surplus of almost $27 billion and that its invested assets exceeded $70 billion. The National Association of Insurance Commissioners and a number of individual state insurance commissioners likewise issued press releases assuring the public that…Log In to Read Full ArticleRelated articles
Breaking Ground: Heifer International
Ever thought of donating a llama or water buffalo to a third-world country in your loved one’s name for their next bithday? Welcome to gift-giving redefined, courtesy of Heifer International. Heifer HQ building surrounded by wetlands Founded by Dan West in 1944, Heifer International’s mission is to “Work with comm… Read more
Cutting-Edge Spotlight: David Lloyd
Guiding regional brownfield and land revitalization policies, crafting sustainability programs nation-wide, and reshaping the EPA´s grant application process, are all in a day´s work for the Brownfield and Land Revitalization arm of the United States Environmental Protection Agency (EPA), led by Director David R. Lloyd. No stranger to the EPA,… Read more
Editorial Board Picks
The Water Encyclopedia, Volumes 1-5 Edited by: Lehr, Jay; Keeley, Jack; Lehr, Janet © 2005 John Wiley & Sons With five, 1,000-page volumes of articles from over 350 water scientists across the globe, The Water Encyclopedia is the one of the most successful encyclopedias to date, according to publisher John Wiley… Read more
