It Figures

9.6%

The proposed average voluntary market decrease in workers’ compensation rates in North Carolina. Insurance Commissioner Wayne Goodwin has also received a filing requesting a a 1.3 percent increase in the assigned risk market. If approved, these loss cost rate adjustments would go into effect April 1, 2010, and employers could save more than $119 million total.

$132 Million

The amount budgeted by the U.S. Army Corps of Engineers for 15 post-Hurricane Katrina coastal recovery projects on the Mississippi Gulf Coast. The budget includes projects costing $30.5 million in Jackson County.

$10 Million

The amount awarded by a jury to a Tampa Bay doctor in a libel suit against Times Publishing Co., the parent company of the St. Petersburg Times. Times Publishing says it will appeal the verdict. The lawsuit was filed in 2005 over three articles the Times ran in December 2003. Kennedy’s suit claimed the articles implied the doctor engaged in corruption, theft and malfeasance, which damaged his reputation.

6% to 26%

The range of homeowners insurance rate increases granted State Farm, Alfa and Farmers in Alabama. They are three of the biggest writers of homeowners coverage in the state. The Alabama Department of Insurance has approved the rate increases and is also considering rates from the state’s third largest provider, Allstate.

$39.5 billion

The total insured losses (adjusted to 2008 dollars) from the 9/11 attack on Manhattan eight years ago. The 9/11 attacks produced the second largest loss in the history of insurance, falling just behind the claims losses left by Hurricane Katrina in 2005, according to the Insurance Information Institute. The losses included property, business interruption, aviation, workers’ compensation, life and liability insurance claim costs. About two thirds of these were paid for by reinsurers.