6/30/2023 0 Comments Expected writedown![]() ![]() Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Merrill Lynch ( MER, Fortune 500) shares finished 3 percent higher in Thursday trade on the New York Stock Exchange. In December the company announced it had received at least $4.4 billion from Singapore's state-run Temasek Holdings. This would not be the first time Merrill looked to outside investors for help. Sources told the Times that the company was in talks with overseas investors in Asia and the Middle East as well as American private equity firms in an effort to raise $4 billion. Merrill is expected to post a steep fourth-quarter loss when it posts results next Thursday, due largely to bad bets made on mortgage investments.Īs a result of the deep loss, the nation's largest broker is looking to raise additional capital from an outside investor, the newspaper said, citing people who had been briefed on the matter. The hit is bigger than the $12 billion writedown many Wall Street analysts are expecting, the report said. Please contact your Autoplan broker to discuss your options.NEW YORK () - Merrill Lynch is expected to report a bigger-than-expected $15 billion writedown when it reports quarterly results next week, according to a report in The New York Times. When your vehicle is not repairable, you need to either cancel your insurance policy or transfer your insurance policy to another vehicle. If there are extenuating circumstances, you may wish to discuss owner retention with a material damage estimator.Ĭancelling or transferring your insurance If the claim was for a collision and you're not responsible, the deductible may be reimbursed or waived.Īs a general rule, we don't allow you to keep your vehicle if it's not economical to repair. You may still need to pay the deductible that applies to your coverage. If your vehicle is determined to be not repairable, Vehicle features (including options, trim levels and packages).Vehicle condition (interior, exterior, tires and features).The criteria used to determine market value includes the vehicle's: They review advertisements from online sources as well as dealer quotes, where appropriate. Mitchell researches the market area to find comparable vehicles either sold or listed for sale. ![]() To help with determining the vehicle's value, we use Mitchell International, a third-party company. Sign up for direct deposit to receive payments more quickly. You'll need to sign a Vehicle Ownership Transfer Agreement (if you haven't already) and will then receive a payment based on the vehicle's determined value. In this case, an ICBC estimator will contact you to discuss the assessment and next steps. To do so, the estimator assesses the damages, estimates the repair costs and then calculates the vehicle's value at the time of the incident, while considering salvage value.Ī vehicle is considered not repairable when repairing it would cost more than the vehicle's value at the time of the incident - what your vehicle would have sold for just before the damage happened. Signing and submitting the agreement at the beginning helps us process your claim more quickly.Īfter you submit your claim, an estimator determines whether the vehicle is economical to repair. When you make a claim, we might ask you to sign a Vehicle Ownership Transfer Agreement if it's likely your vehicle won't be repairable. What happens when your vehicle isn't repairable When this happens, we pay you an amount based on its value at the time of the incident. We call this a total loss (you might also hear it called a write-off). Sometimes, it may not be economical to repair a vehicle. If your vehicle is not repairable ![]()
0 Comments
Leave a Reply. |