Economy News

NetComp Opens Workers Comp Program to Agents in 5 States

NetComp Insurance, a newly-formed program manager based in Columbia, S.C., has opened its online program (www.netcompinsurance.com) for small to-mid size workers’ compensation business to all independent agents in Arkansas, Georgia, North Carolina, South Carolina and Texas. NetComp said it will …

Hurricane Alex Could Reach Land Today in Mexico, Texas

Hurricane Alex strengthened in the Gulf of Mexico early Wednesday and was expected to make landfall later in the day but skirt Mexican oil rigs and U.S. oil fields, alleviating concerns in crude markets. The first named storm of the …

Special Reuters Report: Oil Spill a Gusher for Lawyers; Litigation May Take Years

BP payout should far exceed what Exxon spent on Valdez The company’s $20 billion fund may not be enough Accountability may take years if not decades to assess Many federal laws allow civil, criminal liability From a legal perspective, BP’s …

Ohio Orders Health Insurer to Refund $6M to Policyholders

More than 45,000 Ohioans will receive a refund or credit from Community Insurance Co., also known as Anthem, according to Insurance Director Mary Jo Hudson. The Ohio Department of Insurance alleges that Anthem has been charging consumers rates for health …

Surplus Line Association of Wash. Administers Flood Insurance Program

Washington State Insurance Commissioner Mike Kreidler and more than two dozen insurance companies have launched a new program to help Green River Valley businesses struggling to find flood coverage. The “Washington Flood Market Assistance Plan” will act as a matchmaker, …

G20 Leaders Views on Economy, Budget Deficits, Bank Regulation, Yuan

World leaders agreed Sunday to take different paths for cutting budget deficits and making their banking systems safer, a reflection of the uneven and fragile economic recovery in many countries. The following are highlights from quotes by leaders and other …

President Obama Urges Changes In Stalled World Trade Talks

U.S. President Barack Obama Sunday called for significant changes to the long-delayed Doha round of world trade talks, telling Group of 20 leaders that offers on the table were inadequate. Obama, who spoke at a lunch with G20 leaders, emphasized …

How to Overcome the Hurdles of Hiring to Smaller ‘Big Cities’

Regardless of a high unemployment rate, top talent will always be in demand among insurance organizations. If your company is based in a smaller city, you may face obstacles such as a limited local talent pool and competition from major …

Lawmakers Agree on Historic Financial Industry Reforms

U.S. lawmakers hammered out a historic overhaul of financial regulations as dawn broke over the nation’s capital Friday, handing President Barack Obama a major domestic victory on the eve of a global summit devoted to financial reform. In a marathon …

FEMA: Arkansas, Other Delta States Need Time to Review Flood Map

After facing strong opposition during a public meeting in Arkansas, a top federal official wants to give cities and towns in the Mississippi Delta more time to review maps that outline where flood insurance would be required. Craig Fugate, administrator …