Economy News

Mass. Insurers, Businesses Balk at Plan to Hike Health Fee

Massachusetts insurers and business owners have one question for Gov. Deval Patrick: Why us? Patrick is looking to tap insurers, businesses and hospitals to help close a looming $130 million budget hole in the state’s landmark 2006 health insurance law, …

Medically Unfit Truck, Bus Drivers Still on U.S. Roads, Study Finds

Hundreds of thousands of tractor-trailer and bus drivers in the United States carry commercial driver’s licenses despite also qualifying for full federal disability payments, and some of those drivers have suffered seizures, heart attacks or unconscious spells, according to a …

Travelers Introduces First Electric Boat Discount

Travelers recently launched a “first” in the insurance industry with its premium discount of up to 10 percent for those owning electrically powered boats. Whether boaters are interested in a quieter boating experience, or if they are seeking environmentally friendly …

Credit Seen Drying Up for Main Street Small Businesses

As losses mount at American banks and the pain of the credit crisis spreads from housing and finance to the broader economy, many small companies complain it is increasingly difficult to obtain loans. Tighter credit could not only help to …

Commerce Insurance Tops Massachusetts’ Lobbyist-Spending List

Special interest groups trying to influence policy and legislation on Beacon Hill aren’t letting a poor economy slow them down, spending 13 percent more on lobbyists in the first six months of this year than the same period last year. …

Files for Unemployment Insurance Grow Amid Economic Slowdown

The number of newly laid-off people signing up for jobless benefits in the U.S. rose last week as companies keep work forces lean given the economy’s slowdown. The Labor Department reported new applications filed for unemployment insurance increased by a …

Bush Administration Highway Chief Nason Resigning in August

President Bush’s highway safety chief is resigning after leading the administration’s efforts on auto safety and vehicle fuel economy standards for two years, officials said. Nicole Nason, the administrator of the National Highway Traffic Safety Administration, told Transportation Secretary Mary …

Conning Research: Insurers’ Financials Strong Despite Price Deterioration

The financial condition of the property/casualty industry is strong; and, it should be able to withstand the current price deterioration, according to a new Property-Casualty Industry Forecast by Conning Research and Consulting. “The outlook for the next three years ­through …

House Subcommittee Moves Key Federal Insurance Regulation Bills

In a big week for insurance lobbyists, a key House subcommittee advanced three major insurance regulatory measures. The U.S. House Financial Services Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises marked up bills creating a federal office of insurance …

World Trade Organization Mediators Report Progress in Negotiations

World Trade Organization mediators in Geneva put the final touches to new negotiating texts on Thursday that will serve as the blueprint for an outline deal in the WTO’s long-running Doha round, trade officials said. The chairmen of talks in …