Economy News

From the Big Apple to the Corn State

From the executive office of the Greater New York Mutual Insurance Companies on Madison Avenue in the heart of New York City, Warren Heck, chairman and chief executive officer, can see Illinois. “It’s fantastic, unbelievable. I get very excited when …

Major Internet disruption would cost $250 billion in economic damages

New report urges CEOs to take action now to ensure continuity of their businesses should a meltdown occur A major disruption to the Internet would not only be detrimental to businesses, public institutions and citizens, but also would cost the …

From the Big Apple to the Corn State

From the executive office of the Greater New York Mutual Insurance Companies on Madison Avenue in the heart of New York City, Warren Heck, chairman and chief executive officer, can see Illinois. “It’s fantastic, unbelievable. I get very excited when …

Figures

$55.5 million The tally for disaster aid to Texas residents and businesses affected by June 16 – Aug. 3 severe storms, tornadoes and flooding comes to $55,541,143, according to state and federal officials. The aid comes from the U.S. Department …

News Currents

Major Internet disruption would cost $250 billion in economic damages New report urges CEOs to take action now to ensure continuity of their businesses should a meltdown occur A major disruption to the Internet would not only be detrimental to …

50 N.C. Businesses Affected, Gov. Declares Disaster Area

Gov. Mike Easley declared Spruce Pine, N.C. a state disaster area to help offset damages caused by a series of fires Aug. 4 and Aug. 5, making the town eligible for financial assistance. More than 50 businesses were significantly impacted …

Study Claims ‘Perverse’ Incentives Causing U.S. Disability Costs to Soar

The number of workers receiving disability in the U.S. is growing so rapidly that these benefits are now the fastest rising component of Social Security spending — growing at nearly twice the rate of retirement benefits, according to a new …

Report: Pandemic Overdue, Nations Not Prepared

A new report issued by Marsh and The Albright Group, two risk experts, warns that the catastrophic impacts of a long-lasting pandemic are not only likely to happen, but overdue. The study also states the impact of a pandemic is …

Climate ‘Stars’ Schwarzenegger, Gore Take Stage at U.N. Summit

“Arnie” and “Al,” Republican and Democrat, shared the world spotlight to press for climate action, adding a touch of star quality to the staid proceedings of a U.N. summit. The two headliners, California Gov. Arnold Schwarzenegger and former Vice President …

P/C Insurers’ Underwriting Results, Profitability Slip in First-Half 2007

The U.S. property/casualty insurance industry’s overall profitability as measured by its annualized rate of return on average policyholders’ surplus (or statutory net worth) slipped to 13.1 percent in first-half 2007 from 13.5 percent in first-half 2006 as underwriting results deteriorated. …