The U.S. property/casualty insurance industry’s net income after taxes fell 9.3 percent to $28.3 billion in first-half 2006 from $31.2 billion in first-half 2005 as investment results deteriorated. Reflecting the decline in net income after taxes, the industry’s annualized rate …
Oregon will reduce the workers’ compensation “pure” premium rate by 2.1 percent for 2007, Governor Ted Kulongoski announced, maintaining Oregon’s streak of not raising the rate in 16 years. “No other state in the union has seen 16 consecutive years …
Insurers, agents and business groups called on Congress to create a permanent solution safeguarding the economy against future terrorist attacks at congressional hearing today, “Protecting Americans from Catastrophic Terrorism Risk,” held jointly by the House Committee on Financial Services Subcommittee …
Euler Hermes ACI, the US subsidiary of the Euler Hermes group, a global credit insurance provider, has issued its latest analysis of the global economy which concludes that although the IMF outlook remains positive, “negative factors loom.” Euler Hermes said, …
The National Council on Compensation Insurance filed a proposed 13.3 percent decrease in Florida workers compensation rates that will face a public hearing next month in Tallahassee. According to the Florida Office of Insurance Regulation, the proposed average statewide rate …
Employers are paying more attention to worker and workplace safety, which is helping states like Hawaii and Wyoming to reduce its workers’ compensation rates. Hawaii, Washington, Wyoming bringing down workers’ comp rates Hawaii, Washington and Wyoming proposed lowering workers’ compensation …
California associations, businesses oppose punitive damages bill The American Insurance Association (AIA), Civil Justice Association of California (CJAC), California Chamber of Commerce (CCC) and Association of California Insurance Companies (ACIC) have joined forces to oppose Senate Bill 832, which would …
The Texas Legislature’s Texas Joint Committee on Wind-storm Coverage and Budgetary Impact held a public hearing in Corpus Christi in late August, and two of the state’s agent associations–the Independent Insur-ance Agents of Texas (IIAT) and Texas Insurance Professionals (PIA …
One of the most serious problems facing the insurance industry today is the acute shortage of bright, college-educated young people entering the profession. Walk around any college campus and you’ll find that the brightest and best of our graduates are …
Credit memo “The order confirms the Florida Insurance Council’s position that the memorandum is itself a rule as defined in the Administrative Law Code of Florida, and as such, must be promulgated as a rule in order to be enforceable. …
