Economy News

Insurance Scoring Bill Fails to Pass in Montana

A Montana bill that would have banned an automobile insurer from refusing to insure or refusing to continue to insurance an individual, or varying rates or limiting the scope or amount of coverage or benefits available to an individual based …

WHO Raises Flu Threat Level, Warns Pandemic Imminent

The World Health Organization said Wednesday the world is at the brink of a pandemic, raising its threat level as the swine flu virus spread and killed the first person outside of Mexico, a toddler in Texas. “Influenza pandemics must …

Bad Economy Not Impacting Essential Insurance Coverages

Many Americans have taken steps to reduce personal insurance costs in response to the economic downturn, but a new industry study suggests that maintaining essential auto and homeowners coverage remains a priority for the most consumers. Twenty-eight percent of those …

Lloyd’s Report Links Climate Change to National Security Threats

While the economic crisis and the growing swine flu menace have become the biggest immediate concerns for countries around the world, climate change remains the greatest long term threat. Its impact will continue to be felt long after the economy …

World Battles to Curb Deadly Mexico Flu Strain

World governments and businesses announced new steps on Tuesday to try to slow the spread of a new strain of swine flu that has killed up to 149 people in Mexico and threatens to become a pandemic. The World Health …

California Commissioner Asks Workers’ Comp Board to Withdraw Rate Increase

At a rate hearing on Tuesday, April 28, California Insurance Commissioner Steve Poizner urged the Workers Compensation Insurance Rating Bureau (WCIRB) to withdraw its request for an increase in the workers’ compensation claims cost benchmark. WCIRB has requested a 23.7 …

Data Security Breaches Present Risks, Opportunities for Agents

Data security represents both a new market opportunity to sell insurance coverage and a new risk — especially for independent insurance agencies that may not be compliant with data security laws or have plans in place to protect their own …

Has Globalization Made the World More Catastrophe-Prone?

As the world grapples with the worst economic downturn in decades and the possibility of a flu pandemic, a growing body of research suggests the complexity of the modern global economy may make us more vulnerable than ever to catastrophe. …

China, Taiwan Sign Landmark Financial Services Agreements

Taiwan and China signed a series of landmark agreements on Sunday laying the groundwork for a flood of investment in financial services to flow across the Taiwan Strait for the first time in six decades. The agreements are the latest …

What Young Agents Value About Being Independent

Good things come to those who wait and work hard. Even in today’s challenging economic climate, young independent insurance agents remain hopeful and happy to be in a profession that allows them to work independently, be their own boss and …