On October 7, 2009
Insurance CEOs Immune to Leaner Paychecks
U.S. unemployment is hovering around 10 percent, and those with jobs are working longer and harder to keep them. But there’s no shortage of cash for those at the top of the heap, particularly at insurance companies. Was it only January when the grumbling and hoopla surrounding bonuses for unworthy American International Group employees became a Congressional sideshow? Then AIG CEO Ed Liddy, who was paid only $1 a year, took the brunt of that abuse. Now times have changed. U.S. pay “czar” Kenneth Feinberg quietly approved new AIG CEO Robert Benmosche’s annual pay package of $10.5 million, a third higher than the $7 million previously reported in the media. Feinberg oversees pay packages for executive compensation of companies that…
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