Economy News

Monte Carlo Hotel-Casino Fire Loss Estimated to be Near $100 Million

A fire that sent gamblers fleeing from the Monte Carlo hotel-casino on the Las Vegas Strip in January will cost close to $100 million in repairs and lost business, casino operator MGM Mirage Inc. said. The company has insurance, but …

Lloyd’s Applies for Brazil Re License

Lloyd’s plans to expand in Brazil and is in the process of making a formal application to be an admitted reinsurer in the country. Its first representative office will be in Rio de Janeiro. Lloyd’s Chairman, Lord Levene, noted the …

Pennsylvania Lowers Workers Comp Rates 10%

Pa. Gov. Edward G. Rendell announced a 10.22 percent average decrease in workers compensation insurance costs, a move that he said will result in $250 million in savings for employers in the state. The move follows December filings by the …

New Markets

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Home-Based Business Boom

The risks of remote workplaces Americans’ houses have increasingly become a hodgepodge between a home and an office. It’s believed that there are more people working out of their homes now than at any time in history. And experts say …

New Markets

The following markets were selected from the MyNewMarkets database of 25,000 coverages and programs. To find additional markets, or to submit markets, go to www.MyNewMarkets.com. Health Club Nuts & Bolts: Sports & Fitness Insurance is a national underwriting facility specializing …

It Figures

214 Million Some statistics from the Society of American Florists worth noting for Valentine’s Day: The estimated number of roses produced for Valentine’s Day in 2007 is 214 million. Valentine’s Day floral purchases by gender: 63 percent are made by …

Time to Invest Infrastructure

U.S. District Judge Stanwood Duval recently dismissed a lawsuit against the U.S. Corps of Engineers over levee failures in New Orleans following Hurricane Katrina in 2005. Duval ruled the Corps had immunity from the lawsuit, not because he didn’t believe …

Small Businesses May Need to Spend a Little to Cut Expenses

Uncertain economic times prompt many small business owners to look for ways to cut costs. There are obvious ones, like buying energy-efficient light bulbs and forgoing national brands for the store’s own label when buying office supplies. But many owners …

U.S. Bank Regulators See Moderate Risks from Bond Insurers

Turmoil in the bond insurance industry does pose a risk to banks and the broader markets, but the risk to the nation’s largest banks may only be modest, according to letters from federal and state financial regulators to a U.S. …