Economy News

Dream Agents

We Insurance Journal writers are fortunate in that we get to speak with a lot of good folks from company CEOs and agency principals to state regulators and experienced underwriters. They come in all accents, ages and attitudes. Most of …

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 …

Systematic Sales Strategy Should Be Priority No. 2 for Agency Managers

In this hard economy coupled with the soft market, most agencies expect sales and revenues to go down. Even the best performers feel the downward trend in premiums. According to Juan Andrade, executive vice-president for sales and distribution at The …

Start-Up Stories: How New Agencies Are Competing

Crop of New Agencies Is Defying the Hard Economy and Soft Market The independent insurance agency system is enjoying a resurgence. For years, the number of agencies nationwide declined, but that trend has halted. There were 37,500 agencies in 2008 …

Systematic Sales Strategy Should Be Priority No. 2 for Agency Managers

In this hard economy coupled with the soft market, most agencies expect sales and revenues to go down. Even the best performers feel the downward trend in premiums. According to Juan Andrade, executive vice-president for sales and distribution at The …

5 Risk Management Challenges for Public Entities in Today’s Economy

Local governments increased their commitment to risk management over the past decade, as they met the challenges posed by several major natural disaster and terrorism events. Better local government loss prevention, crisis management and risk communication resulted. We now face …

Auto Deaths Decline in 40 States; Less Driving, More Seat Belt Use Cited

Automobile fatalities declined in 40 states in 2008, according to a survey of state highway safety agencies, an early sign that traffic deaths could dip to their lowest levels in four decades. The Governors Highway Safety Association, which represents state …

U.S. Lawmakers Vow More Food Safety Funds As Peanut Recalls Set Record

Lawmakers vowed this week to press for stronger food safety laws and more money for inspections as the list of recalled peanut products surpassed 1,000 in an ongoing national salmonella outbreak. “There is an openness to putting together the strongest …

Washington Considers Pay-As-You-Drive Insurance

Washington is the lastest state that is considering implementing pay-as-you-drive legislation, in which drivers would pay insurance premiums based in part on the miles driven per year. Senate Bill 5708, sponsored by Sen. Tracey Eide, D-Federal Way, provides that any …

New York City Announces New Construction Safety Measures

New York City set more than 40 new rules for the struggling construction industry to make high-risk sites safer and correct problems such as those that led to two deadly crane collapses last year. The Department of Buildings said it …