It Figures

18.4%
The workers’ compensation loss costs increase approved for businesses in South Carolina effective Dec. 1, 2006. An administrative judge reduced the 33 percent increase recommended by the National Council on Compensation Insurance.

43%
The top percentage rate reduction available under a proposal by Citizens Property Insurance Corp. for Florida policyholders in the most sinkhole prone counties who opt out of buying coverage for sinkhole related claims next year. Citizens President Bob Ricker said estimates show rates in Pasco County would decline as much as 43 percent and 32 percent in Hernando County on policies excluding sinkhole coverage. Citizens has about 180,000 policies in a five-county area on Florida’s West Coast prone to sinkhole claims, primarily in Pasco and Hernando counties.

35% and 15.2%
The average percent insurance rate decreases for Monroe County homes and mobile homes agreed to by Florida Insurance Commissioner Kevin McCarty and Citizens Property Insurance Corp. The rate cut is mandated for one year and is meant to compensate policyholders who were previously charged an excess rate. No refunds will be made. The new rates in Monroe County will become effective for new and renewal business as of Jan. 1, 2007.

$100 Million
The total amount of the reduction in unemployment insurance taxes being implemented in Georgia that will affect most of the state’s 200,000 employers. The tax cut will begin in January.

25
The maximum number of workers a Tennessee business can have if it wants to participate in first phase of the state’s new Cover Tennessee health insurance program. Only workers employed by participating small businesses — those with no more than 25 workers, at least half of whom earn less than $41,000 per year — will be eligible when the program gets under way next year.

In 2008, the program will be opened to people working at ineligible businesses or at those companies choosing not to participate.

$25,000
The premium for insurance on four vehicles donated to Alabama’s Elmore County schools by Hyundai Corp. that caused the system to return the cars.

Elmore and Autauga County schools returned nine free cars because they could not afford the insurance the car manufacturer required. Hyundai, which operates an assembly plant in Montgomery, donated 26 cars to school systems in central Alabama in April for use in driver’s education classes. Autauga schools said the system could not afford the insurance that Hyundai required.