It Figures

1,000

The number of losing policies that West Virginia workers’ compensation writer BrickStreet Insurance plans to drop in 2009. The insurer calls these contracts the worst of the worst as they brought in $66 million in claims against only about $16 million in premiums.

$42 Million

The amount Massey Energy agreed to pay in civil and criminal penalties stemming from a fire that killed two miners at a southern West Virginia coal mine in January 2006.

$16 Billion

The amount of collateralized debt obligations that American International Group purchased in an effort to reduce its exposure to insurance guarantees written against the instruments. AIG had written insurance-like contracts, called credit default swaps, to protect investors against default of the CDOs. By purchasing the CDOs, AIG has eliminated the need for insurance contracts against their default.

2%

The delinquency rate for insurance premiums out of all bills consumers pay, according to a survey by eCommerce Services for Online Resources. That was the lowest delinquency rate among all bills. The survey also found insurance bills were the second priority for consumer to pay, trailing only the mortgage bill in importance.

3

The number of days that the Port Gibson, Mississippi Police Department was closed after its workers’ compensation policy lapsed. because officials failed to make the $6,898 quarterly payment on time. Police employees actually worked two months without coverage but no one was injured on the job during that time.

$225 Million

The settlement amount won by a former NASCAR official who filed a racial discrimination and sexual harassment lawsuit against NASCAR, avoiding what was expected to be a years-long court battle between the two sides.

50%

The unprecedented escalation in the number of subprime-related legal filings during just the first nine months of 2008 according to Navigant Consulting, Inc.