Economy News

Agencies Shopping for Lowest E&O Rates Could Be Adding to Their Risk

No Agency Is Worth Sacrificing for the Cost of a Cafe Latte Each Day Independent insurance agents may be shopping their errors and omissions insurance coverage to seek the best rates. But what they are giving up in the quest …

Memo to Insurance Producers: Get Ready to Produce More in 2009

Although the economy is in serious trouble, nothing has changed. You still need to sell insurance. Whether it’s property and casualty, life or health, one task remains: closing sales. While you may know your products and have the right selling …

Memo to Insurance Producers: Get Ready to Produce More in 2009

Although the economy is in serious trouble, nothing has changed. You still need to sell insurance. Whether it’s property and casualty, life or health, one task remains: closing sales. While you may know your products and have the right selling …

Soft Market Challenges

Relationships, Recruiting, Training Key to Survival Soft market conditions could last for another nine months to five years, predict representatives from the agent, broker, carrier, reinsurance, and excess and surplus lines sectors of the insurance industry. “I anticipate that we …

Now is Not the Time for Insurance Industry Retreat

The word change has been largely embraced by the country this election season. As small business owners, the concept of change in our industry is something we have long been familiar with. Changes in the marketplace are undoubtedly one of …

Memo to Insurance Producers: Get Ready to Produce More in 2009

Although the economy is in serious trouble, nothing has changed. You still need to sell insurance. Whether it’s property and casualty, life or health, one task remains: closing sales. While you may know your products and have the right selling …

Euro Zone in Recession as World Leaders Head for Summit

Recession has struck much of Europe, data showed on Friday, confirming a widespread economic downturn that world leaders hope to tackle at a weekend summit in Washington. The worst financial crisis in 80 years has weakened the world’s major economies. …

Idaho Insurance Director Cautions Insurers on Use of Credit Scores

Idaho Department of Insurance Director Bill Deal is urging insurers to carefully review their use of credit related information in rating insurance policies. “In this difficult economy, the finances of many Idahoans are being affected through no fault of their …

ICC Head Urges G20 Leaders to ‘Take Bold Action’ to Stem Financial Crisis

Victor K. Fung, Chairman of the International Chamber of Commerce (ICC), has called on the leaders of the G20 nations to take bold and responsible actions to restore confidence in the world economy, including bringing the Doha Round to a …

California State Fund Files an 8.9 Percent Premium Increase for 2009

California’s State Compensation Insurance Fund announced it filed a Jan. 1, 2009 revision to its rating plan, which it anticipates will result in an average 8.9 percent increase in collectible premium. Premiums for individual employers will also vary based on …