It Figures

$568 Million

Amount spent by New York City to settle damage claims in fiscal year 2008 – an amount that was about $10 million higher than the previous year. Property damage from two major storms helped drive the total number of new claims to 26,798, the second-highest number since 1999. The record for the number of new claims was set in 2007, which included more than 4,000 claims pinned to injuries that resulted from the Sept. 11 attacks.

$11 Million

Amount awarded to the family of a New Jersey man who died in 2005 after having his wisdom teeth removed. Francis Keller, 21, of Woodbridge, had a genetic condition that caused swelling as a reaction to trauma, which caused him to suffocate after the surgery. The oral surgeon and the dentist involved were both sued. The dentist was cleared of negligence. The award is believed to be the largest in New Jersey history for dental malpractice.

60%

The percentage of all property/casualty revenue written by independent agents in 2007, according to a new study by the Independent Insurance Agents and Brokers of America (IIABA). That trend mirrors previous years, although regional and national independent agency companies together wrote $800 million less in premium in 2007, compared with a $5 billion and $4 billion gain in P/C premium in 2006 and 2005. IIABA says independent agents and brokers continued to hold their overall market share in the P/C industry even with the reduced premium written.

10,000

Number of turkeys killed inside a central Pennsylvania barn this month. The fire engulfed a 300-foot-long barn in Adams Township, about 50 miles northwest of Harrisburg. The fire is not considered suspicious.

33%

Minimum percentage of workplace injuries to 65-or-older workers that are blamed on slips and falls, according to a new report by PMA Cos. As the average age of the workforce goes higher, insurers are increasingly looking at injury rates for older workers. In the case of a fall, it takes and older worker two to three times as long to recover. Another area of concern? Driving – death rates for work-related roadway crashes increase steadily beginning at around age 55.

Topics Agencies Property Casualty