Economy News

Congress Prepares to Tackle Global Warming Legislation

Potential presidential rivals Republican Sen. John McCain and Democratic Sen. Barack Obama are joining with newly independent Sen. Joe Lieberman on a plan they say would reduce global-warming gases by two-thirds over the next four decades. Their bill, being announced …

Vietnam Joins WTO

Nearly 32 years after Vietnam’s communists chased U.S. forces from their soil, the southeast Asian nation joined the capitalist club as the World Trade Organization’s 150th member on Thursday, signaling its emergence as one of the world’s fastest-growing economies. “Welcome, …

Swiss Re Global Risks 2007 Report Highlights Increasing Threats

Swiss Re’s newly issued “Global Risks 2007” report highlights “a growing disconnect between the power of global risks to cause major systemic disruption, and our ability to mitigate them.” The report – published by the World Economic Forum in cooperation …

Schwarzenegger Proposes Sweeping Plan to Cover Uninsured

California Governor is hoping to develop a plan to extend health care to 6.5 million uninsured Californians, but to do so, he will have to find common ground between groups that often are at odds. Union leaders quickly balked at …

IIAT’s Joe Vincent Management Seminar, Legislative Day set for Jan. 28-30

The Independent Insurance Agents of Texas will host its 44th Annual Joe Vincent Management Seminar and Big I Legislative Day in Austin Jan. 28-30. The three-day conference includes an industry preview and legislative update of 2007 issues and market changes, …

Workers’ Comp on Priority List for S.C. Legislature, Gov. Sanford

Education, health care and workers’ compensation insurance top legislators’ lists of things they’ll address when they return to Columbia on Tuesday for the 2007 legislative session. The first week includes some ceremony as Gov. Mark Sanford will be sworn in …

Insurers Build Record-High Surplus, Lower Non-Coastal Rates After Hurricane Respite

With elevated hurricane activity predicted over the next 15 to 20 years, insurers took advantage of last year’s respite to fix the roof while the sun was shining, setting aside billions to bolster the industry’s claims-paying capacity, according to the …

Enron’s legacies and directors’ and officers’ risk

Shortly after former Enron CEO Jeffrey Skilling’s Oct. 23, 2006, sentencing, the Enron Task Force said it was closing down, with its mission mostly complete. Yet did that event really signal an endpoint in the Enron criminal scandal? Perhaps it’s …

Insurance priorities for the U.S. Senate

Sen. Chris Dodd, D-Conn., is the incoming chairman of the Senate Committee on Banking, Housing and Urban Affairs, which has jurisdiction over flood and terrorism insurance, as well as over regulation of insurance, credit and other financial services markets. The …

Insurance priorities for the U.S. Senate

Sen. Chris Dodd, D-Conn., is the incoming chairman of the Senate Committee on Banking, Housing and Urban Affairs, which has jurisdiction over flood and terrorism insurance, as well as over regulation of insurance, credit and other financial services markets. The …