Economy News

It Figures

5.4% The average decrease the Automobile Club of Southern California customers will receive for auto insurance policies beginning on April 1, 2009. The company announced it would be implementing a $101 million rate reduction for insurance policyholders in California. The …

Top 5 Insurance Issues for Farmers in a Soft Economy

Review Exposures, Values and Maximize Insurance Value to Ensure Satisfied Farm Customers Thanks in part to commodity prices that are still higher than average and, thankfully, less volatile than in 2008, the agricultural economy has not yet felt the same …

Hope, Straight Talk and Despair Amid the Ruins

Obama to the Rescue; Hartwig on the Banks; Davos Devotees Duck Blame for instigating the current economic mess starts with the banks. Munich Re’s recent webinar gave Dr. Robert P. Hartwig, president of the Insurance Information Institute, a chance to …

Retail Marine Business Meet Darwinism in 2009 – The Strong Do Survive

5 Possible Solutions to Today’s Challenging Times The year 2009 has begun and our nation’s business communities have their backs against the wall. No segment of the economy is without its worries and perils. Daily the mass populous decides how …

Budget-Friendly Ideas to Retain Your Top Performers

Career Development, Mentors and Flexible Schedules Help Keep A-Level Talent The current economy is causing many changes within the employment marketplace. Increased employee concerns and lowered morale are just a few reasons organizations should place greater focus on their retention …

Operational Efficiency Should Be Priority No. 3 for Agency Managers

Managing an independent insurance agency in the current hard economy and soft market requires agents to set priorities. In the Jan. 28, 2009, issue of Insurance Journal, Juan Andrade, executive vice-president for sales and distribution at The Hartford, identified customer …

Eye on Boats and Marinas

Marine Broker Shares Views on the Current State of the Market The marina and boat industry is a natural fit for John Harvey, founder and president of Voyager Insurance Services in Frisco, Texas. Harvey has been in the insurance business …

Swimming Downstream: How a Regional Insurer Buy Others Through Demutualization

Donegal Group’s Strategy Has Helped It Grow From Writing in 1 State to 19 in 20 Years Even in a good economy, mutual insurers face challenges trying to raise the capital they need to grow since they don’t have any …

Immigrants’ Advocate Protests South Carolina Workers’ Comp Limits

South Carolina legislators are pushing a bill to cut workers’ compensation benefits for illegal immigrants in an effort to strengthen what’s already one of the nation’s toughest laws aimed at keeping those workers off state payrolls. This week a Senate …

Ohio to Crack Down on Employee Misclassification

Ohio Attorney General Richard Cordray has announced that state agencies are collaborating to combat the misclassification of workers. Employee misclassification is part of an “underground economy” in which an employer improperly classifies individuals as independent contractors or pays them “off …