AIG Shakes Confidence of Company Directors
September 18th, 2008
For many company directors across the region, the unfolding news about AIG and the subsequent rescue package from the US Federal Reserve will have caused real concern.
AIG is one of the UK’s major group life insurance providers and as such, provides protection for employees across the country. Had AIG gone under, then many businesses could have faced a black hole in their employee benefit commitments.
The situation with AIG is now significantly more stable. The rescue plan will see the Federal Reserve Bank of New York provide a two-year, $85 billion secured revolving credit facility. In return for providing this essential support, American taxpayers will receive a substantial ownership interest in the company.
Inevitably though, the news will mean that employee benefits are top of the agenda for many board meetings this week. Without question, if a company is prepared to invest in benefits for their staff, then that money needs to be effectively spent. If there are concerns then the best option is to review the schemes in place, and if necessary, switch providers.
In response to this latest bite from the Credit Crunch, Torquil Clark Employee Benefits are offering a free consultation meeting to companies who want to review their current employee benefit schemes, or want reassurance that their schemes are best placed. For more information or to book a meeting call Jas Randhawa on 01902 576707 or get in touch online.
Author: Jenny Challenor
September 18th, 2008
Category: Employee Benefits.
