Economy News

Oklahoma Halts Plan to Use Cameras to Snag Uninsured

Oklahoma is suspending a plan to use highway traffic cameras to identify uninsured motorists that it had hoped would add some $50 million to the state’s coffers in its first year. The project was put on hold because there is …

Willis Launches PatentWize to Help Manage Intellectual Property Risk

Willis Group Holdings is partnering with Innography to launch Willis PatentWize, an enterprise-wide business intelligence solution that is part of Willis’ overall plan to help companies better manage their intellectual property (IP) risks. Willis said it will offer a comprehensive …

State Auto Reports Net Loss of $26.2M in Q2 2010

State Auto Financial Corp. has reported a second quarter 2010 net loss of $26.2 million versus a net loss of $3.2 million for the second quarter of 2009. State Auto’s combined ratio for the quarter was 115.2 versus 110.6 for …

August 25th 2010 Lunch Discussion: Workers’ Compensation in a Changing Environment and a Challenging Economy

San Diego – The Insurance Brokers & Agents of San Diego along with the Insurance Industry Charitable Foundation of San Diego will be hosting a lunch discussion on August 25th, 2010 with guest speaker Jan Frank, President and COO of …

Midwest Economy: North Dakota Tops Region in Job Growth

The Institute for Supply Management, formerly the Purchasing Management Association, began formally surveying its membership in 1931 to gauge business conditions. The Creighton Economic Forecasting Group uses the same methodology as the national survey to consult supply managers and business …

Ascinsure: Retailer-Owned Wholesale Broker Rebrands in a Down Market

Trust us. That, in a nutshell, is the underlying message behind a new rebranding campaign for Ascinsure Specialty Risk, the wholesale broker subsidiary of Pittsburgh-based retail brokerage Allied Insurance Brokers. The rebranding includes a name change (it’s pronounced, “uh SIN …

China’s Economy Set to Pass Japan’s as World’s Second Biggest

China is set to overtake Japan as the world’s second-largest economy in a resurgence that is changing everything from the global balance of military and financial power to how cars are designed. By some measures it has already moved to …

2010: A Revolutionary Year for Truckers Insurance

The year 2010 might be considered revolutionary, as it is ushering in more changes for those who provide insurance for truckers than the industry has seen in a decade. Motor carriers, defined as anyone who uses a vehicle that has …

Wisconsin Supreme Court Sides with Physicians in Med Mal Trust Fund Fight

The Wisconsin Supreme Court has ruled that the state’s taking of $200 million from the Wisconsin’s Injured Patients and Families Compensation Fund (IPFCF) to help balance the general budget was unconstitutional. The state must now pay back the full amount …

Upside of the Downside: P/C Brokers Serve Distressed Property Market

The vacant and distressed property segment has been a beacon of light for insurers and brokers as the economy has forced the closure of businesses and halted construction projects, resulting in a number of vacant buildings across the country. The …