Figures
$261 Billion The total amount of U.S. tort costs in 2005, according to the 2006 Update on U.S. Tort Cost Trends from the Tilling-hast business of Towers Perrin. The amount adds up to about $880 per person, $4 less per …
Top 10 Stories of the Year – South Central
It was difficult to get away from natural catastrophes in 2006, even though the year was relatively unscathed by those types of events. Back-to-back 2005 Hurricanes Katrina and Rita continued to wreak havoc on insurance markets in the South Central …
Miss. court: rental firm not liable if driver lies
Rental car companies are not liable for accidents that result from their unknowingly leasing a car to a motorist who lies about having a valid driver’s license, the Mississippi Supreme Court has ruled. The court, in a recent 5-4 decision, …
Top 10 Stories of the Year – Southeast
While Mother Nature was nicer to the Southeast and the insurance industry in 2006 than she was in 2005, her potential for destruction was never far from the minds of those living and rebuilding in the Southeast. Insurance remained a …
Declarations
Tort reform impact “It’s difficult to say whether tort reform measures have impacted this slow down in tort costs growth. We have yet to see what, if any, impact the class action reform legislation that was passed in February 2005 …
W.Va. report on Sago Mine blast leaves many questions unanswered
News Currents The families of the Sago Mine victims aren’t the only ones who want more answers from the state about what went wrong Jan. 2. The United Mine Workers says the state’s theory is “cockamamie” and begs either solid …
Sen. Lott pushes law on storm-totaled vehicles
Congress should protect car buyers from unsafe vehicles that were once totaled in Hurricane Katrina and other natural disasters, according to Sen. Trent Lott, R-Miss. Lott, joined at a news conference by Reps. Cliff Sterns, R-Fla., and Charlie Melancon, D-La., …
Editor’s Note: Down to mirth
Insurance is a serous business. It’s not easy finding humor in the insurance headlines. But in 2006, a few stories that brought a smile snuck through the disasters and dire warnings. No belly laughs, for sure, but a little relief …
Private equity market increasingly bullish on insurance and E&S
Historically, the insurance sector has not been high on the list of preferred investments for private equity markets, but since 2001 interest in insurance and reinsurance has been on the rise, not only with private equity firms, but also with …
Business Moves
The Hartford, West Virginia The Hartford Financial Services Group Inc. has entered the personal lines independent agency market in West Virginia. Products being offered in West Virginia through The Hartford’s independent agency channel include the company’s Dimensions auto and homeowners …
