Economy News

Top 10 Stories of the Year – Southeast

While Mother Nature was nicer to the Southeast and the insurance industry in 2006 than she was in 2005, her potential for destruction was never far from the minds of those living and rebuilding in the Southeast. Insurance remained a …

Declarations

No long-term negatives “Fortunately lawmakers did not pass legislation that will have negative long-term consequences for consumers and the insurance market.” — Greg LaCost, assistant vice president and regional manager for Property Casualty Insurers Association of America (PCI), commenting on …

Top 10 Stories of the Year – West

In the era when cowboys and gold panners roamed, the West was characterized as a wild yet adventurous place to live. Judging by 2006’s insurance industry headlines, those sentiments don’t seem to have changed. In the past year, agents and …

Editor’s Note: Down to mirth

Insurance is a serous business, with contingent commissions, credit scoring and natural disasters making news in 2006. It’s not easy finding humor in the headlines. Yet a few stories that brought a smile snuck through the disasters and dire warnings …

Professional liability in a financial world

What professional liability exposures do financial institutions face today? Have risks significantly changed since 2001? If so, why? Major events have had a direct impact on insurers, agents and the industry and have triggered lawsuits and, eventually settlements, changing how …

N.Y.-N.J. Ports Panel Urges Nationwide Cargo Standards, Security Czar

A port security task force this week urged that the nation adopt mandatory security standards for cargo and that the president appoint a port security czar to coordinate the federal agencies that oversee the nation’s 361 seaports. Shippers should also …

York Insurance Services Group Expands Transportation Unit Through York SLA Division

Parsippany, NJ: York Insurance Services Group, Inc. (“York” or “the Company”), a leading insurance services provider, announced today the creation of York Transportation and Logistics (“York T&L”) as a division of York Specialized Loss Adjusting (“York SLA”), York’s large/complex property …

State Preparations for Pandemic Flu Creative But Vary Widely

Trailers packed with cots and medical supplies are parked in secret locations around Colorado, ready for doctors to open makeshift hospitals in school gyms if a flu pandemic strikes. Parts of southeastern Washington are considering drive-thru flu shots during a …

Insurance Safety Group: Death Rates in Minicars More Than Double Rates in Other Cars

Driver death rates in minicars are higher than in any other vehicle category and more than double the death rates in midsize and large cars, a new study shows. For the first time, the Insurance Institute for Highway Safety has …

U.S. Needs Federal Data Security Law Now, Says Cybersecurity Group

A coalition of data security firms has renewed its call for Congress to protect personal information in cyberspace and help Americans trying to deal witht he risk on their own. The businesses warn that the decline in consumer confidence in …