Economy News

Ready, Set – OK

As this issue of Insurance Journal South Central Edition went to press, Oklahoma officials were set to award $250 million in contracts for much needed road and bridge improvements in that state. The money is part of the $465 million …

Gramm’s Test

There is a new reality. Gramm-Leach Bliley has helped bring about the biggest economic collapse since the Great Depression. Remember the good old days when customers knew their bankers and property owners knew who held their mortgages and the economy …

Liaisons Highlight Consumer Insurance Concerns

Consumer Advocates Focus on How Insurers Treat Insureds in Difficult Economic, Credit Climate Insurance agents, brokers and regulators should be aware that when it comes to insurance, consumers are concerned with such issues as the use of credit scores in …

Minimizing Recruitment Risks

Avoiding Costly — And Unnecessary — Hiring Mistakes in a Down Economy With layoffs, downsizing and stressed-out employees, it is more important than ever for employers to fully grasp the legal aspects of hiring, managing and terminating workers. Hiring new …

G20 Seals $1.1 Trillion Deal

World leaders clinched a $1.1 trillion deal on Thursday to combat the worst economic crisis since the Great Depression and said financial rules would be tightened to stop it happening again. U.S. President Barack Obama declared it a “turning point” …

Obama Plays Up Role as Consensus Builder at G20

Where President George W. Bush was known for his “cowboy diplomacy,” his successor, President Barack Obama wants to be known as a listener and a builder of bridges. Taking his first major foreign trip since becoming president in January, Obama …

International Chamber of Commerce Welcomes G20 Support on Trade

The Washington, D.C.-based International Chamber of Commerce has issued a statement welcoming the “G20 support for Doha Round and pledge to fight protectionism.” However the ICC chided the conference participants for their “lack of support for strong monitoring system on …

ACE Launches New Homeowners Coverage for High Net Worth Families

ACE Private Risk Services, part of the ACE Group of Cos., unveiled a new homeowners policy designed to meet the needs of high net worth customers. The new policy, which will be offered through independent agents and brokers, allows families …

Oregon Delays Raise for Worker Compensation Chief

The five-member board of the Oregon-owned worker compensation insurance company has delayed a decision on a raise to its chief, Brenda Rocklin. The Oregonian reported that she will receive a $290,000 base salary to manage SAIF Corp. She got a …

Key U.S. Senators Agree on Patent Litigation Reform

Leaders of the U.S. Senate Judiciary Committee said Wednesday they had reached agreement on key elements of a bill to revise U.S. patent law. One of the changes would require judges hearing patent infringement cases to play a gatekeeper role …