Economy News

North Carolina Workplace Fatalities Rise as Economy Slows

Workplace deaths in North Carolina rose in 2008 after three years of declines, and officials worry that the nation’s sagging economy is partly to blame. Preliminary data provided by the North Carolina Department of Labor shows that there were 59 …

Texas Mutual Pays $3.2M Dividend – Its Largest – to Restaurant Group

Texas Mutual Insurance Company recently announced a $3,162,738 dividend to the Texas Restaurant Association (TRA) group discount program. This marks the largest dividend in Texas Mutual’s history. It was based largely on TRA’s favorable loss history. For TRA President Gerard …

Oregon Nursery Damage Put at $18 Million to $31 Million

Damage estimates to Oregon’s nursery stock industry from late December storms suffered by 160 growers in 12 counties range from $18 million to $31 million in a survey conducted by the Oregon Association of Nurseries. “It’s now clear that damage …

Estimating the Credit Crisis Insurance Losses

The arrival of the harder market could be delayed but could be even more disruptive when it arrives. On Nov. 5, 2008, the insurance information firm Advisen issued an updated forecast of insurance losses likely to arise from the credit …

Lifelines in the Storm: Pro-Policyholder Developments in 2008

In light of the enormous losses and cascading failures triggered by the financial crisis, companies across the full spectrum of U.S. industry will be looking to their insurance policies for loss mitigation. Fortunately, developments in several states bolstered policyholders’ ability …

Lifelines in the Storm: Pro-Policyholder Developments in 2008

In light of the enormous losses and cascading failures triggered by the financial crisis, companies across the full spectrum of U.S. industry will be looking to their insurance policies for loss mitigation. Fortunately, developments in several states bolstered policyholders’ ability …

Driven to Desperation, More Insureds Illegally Dumping Cars

The economic downturn is spurring anxious drivers to fraudulently dump unwanted vehicles for insurance money, according to research by the Coalition Against Insurance Fraud. Officials in nearly a dozen state and local jurisdictions around the U.S. report clear warning signs …

Declarations

Insufficient Warning “I think all three agencies have been irresponsible in not accurately warning citizens.” โ€”Stephen Smith, executive director for the Southern Alliance for Clean Energy, criticizing federal, state and Tennessee Valley Authority officials for their handling of safety concerns …

Estimating Insurance Losses From the Credit Crisis

On Nov. 5, 2008, the insurance information firm Advisen issued an updated forecast of insurance losses likely to arise from the credit crisis, estimating aggregate directors and officers (D&O), and errors and omissions (E&O) losses of $9.6 billion, up from …

Lifelines in the Storm: Pro-Policyholder Developments in 2008

In light of the enormous losses and cascading failures triggered by the financial crisis, companies across the United States will be looking to their insurance policies for loss mitigation. However, recent developments in several states bolstered policyholders’ ability to defeat …