Economy News

The Life of a Health Insurance Broker – Post Health Reform

The last couple of years have been challenging for the national economy – the housing market decline, bank bailouts, tightening credit markets, and a volatile stock market have strained many businesses across varying industries. For the last year, in the …

D&O Coverage as a Partner in Crime (and Fidelity)

While high-profile crimes like Bernie Madoff’s $65 billion Ponzi scheme generate headlines, employees at companies across the county are committing smaller, low profile crimes every day. Many employee theft schemes — which typically go on for years — don’t make …

Survey: Midwest Economy Shows Modest Growth Trends

Business conditions in the Midwest are generally on an upward swing, according to a survey of supply managers and business leaders in the region. The Creighton Economic Forecasting Group, directed by Creighton University economics professor Ernie Goss, gauges business conditions …

Washington P/C Premiums Totaled $9.1 Billion in 2008

The insurance industry provides nearly 51,000 jobsi n Washington with about a $3.2 billion payroll, according to the Northwest Insurance Council and Insurance Information Institute. In their latest report, “A Firm Foundation: How Insurance Supports the Washington State Economy,” the …

Soft Market, Weak Economy Will Challenge Insurers, Brokers in 2010

The recession may be over, but recovery is not happening quickly enough for insurers and brokers. From unemployment rates hovering at about 10 percent to still rising business bankruptcies, the lingering effects of the recession continue to whittle away at …

Audit: Wisconsin Medical Malpractice Fund in Poor Shape

A fund that helps Wisconsin health care providers pay medical malpractice claims is in poor financial shape after lawmakers raided $200 million to balance the budget, auditors have warned. The Injured Patients and Families Compensation Fund also has been negatively …

Montgomery Offers Commercial Fleet Technology Service in Florida

Montgomery Insurance, a Liberty Mutual Group regional operation, is now providing Onboard Advisor for commercial fleets in Florida. Onboard Advisor is a fleet management solution that helps companies increase fleet safety and productivity, save on commercial auto insurance premiums, and …

Irish Financial Woes Dominate Discussion, Country’s #2 Insurer Taken Over

The European Insurance Forum, held in Dublin Monday and Tuesday, was dominated by the fiscal crisis that has hit Ireland particularly hard. Although the country’s insurance industry remains a bright spot in an otherwise fairly bleak landscape, even it is …

Insurance Agents: Get Ready for Green Building Exposures

An idyllic, pasture-like setting is not the only green image agribusiness owners would like the public to imagine when they picture their operations — they increasingly want to be known for their “green” environment-friendly buildings, too, according to Scott A. …

Should Florida Follow New York and Revive Its Surplus Lines Exchange?

New York regulators are pursuing a reincarnation of the New York Insurance Exchange, a Lloyd’s of London-style insurance market that lasted for several years the last time it was tried. New York Insurance Superintendent James Wrynn said the exchange would …