Economy News

Wash. Declares “Rate Holiday”

Washington Gov. Chris Gregoire announced that a partial “rate holiday” has been finalized by the Department of Labor and Industries, designed to save workers and employers about $315 million in workers’ compensation insurance premiums. According to L&I, beginning July 1, …

Ala. Gov. Pumps up Small Businesses

Gov. Bob Riley visited a Montgomery, Ala. dry cleaners on Monday to promote his plan that would provide a tax incentive for small businesses to offer health insurance for their employees. At Dry-Cleaning Express in Montgomery, Governor Riley discussed the …

Mayor Bloomberg joins call for TRIEA renewal

In urging renewal of the federal terrorism reinsurance program, New York City Mayor Michael Bloomberg noted that the city is doing its part. He reported that the N.Y. City police department has built counterterrorism operations that are responding to threats …

Tim Wagner, Nebraska, Director of Insurance

Director of Insurance L. Tim Wagner has spent close to 40 years in the insurance industry, the last nine as the appointed Nebraska regulator. He takes his role seriously and believes the insurance industry has a real impact on the …

Lessons learned from Katrina and beyond

The 2006 Atlantic hurricane season came and went with barely a blip — despite initial projections by some that there would be two to five major hurricanes that year. How could insurance industry predictions be so wrong? They weren’t, according …

Industry gears up for more federal terrorism insurance debates

News Currents Insurance industry advocates urged Congress yet again to continue with a federal government role in terrorism risk insurance and to examine long-term solutions before the current backstop legislation, the Terrorism Risk Insurance Extension Act (TRIEA) of 2005, expires …

Insurance exec: China offers lessons in globalization for U.S. and world

I am not going to talk about regulation, not yet. I will soon but it will not be today — real soon. I cannot wait.” Thus Maurice “Hank” Greenberg — target of Eliot Spitzer, prosecutors, competitors and rumor mills — …

Lessons learned from Katrina and beyond

The 2006 Atlantic hurricane season came and went with barely a blip — despite initial projections by some that there would be two to five major hurricanes that year. How could insurance industry predictions be so wrong? They weren’t, according …

Workers Compensation Bills Head to House Floor in Colo.

The Colorado House Business Affairs and Labor Committee has approved two workers’ compensation bills, one affecting employee’s choice of physician and another affecting firefighters.. House Bill 1176 would change the workers’ comp system to allow an injured employee to choose …

The Commissioners: Tim Wagner

Neb. Director sees industry as leading voice on global warming issue Director of Insurance L. Tim Wagner has spent close to 40 years in the insurance industry, the last nine as the appointed Nebraska regulator. He takes his role seriously …