Economy News

Report: South Dakota Lost 1,400 Construction Jobs

A national trade organization estimates the number of lost construction jobs in South Dakota at 1,400 during a year in which a weak economy and tight credit slowed developers and builders. The 6 percent drop in South Dakota jobs, from …

California Reports 25% Jump in Auto Fraud Cases Linked to Arson

In the year 2008, there was a 25 percent increase in suspected vehicle arson fraud in California, according to the state. Commissioner Steve Pointer said that recently compiled statistics show that scam artists may be committing more automobile insurance fraud …

Managing Producers: How to Set Sales Goals and Monitor Performance

Sales management is vitally important to the growth and survival of an agency. However, as important as it is, sales management does not have to be a full-time job in most firms. Often the task falls to an owner or …

What Employers Need in Employment Practices Liability Insurance Today

Over the past 10 years, the number of employees filing individual discrimination charges against their employers has increased by 20 percent, resulting in $274.4 million in monetary benefits paid out in 2008, according to the Equal Employment Opportunity Commission (EEOC). …

How the Economy Is Altering Architect/Engineering Insurance Buying

Architects and engineering (A/E) firms, construction professionals and the insurance carriers that serve them are facing unique challenges in this turbulent economic environment. SmartRisk surveyed professional liability insurance carriers to find out how these providers are managing their own risk …

What to Watch Now in the World of D&O

Due to constantly evolving financial and litigation environments, the issues that are most critical in the world of directors’ and officers’ liability insurance vary significantly over time. This overview addresses the most significant concerns of current interest for D&O insurance …

Forecast: Still Soft

Analysts Forecast Healthy Q3 Reports from Insurers promised the headline on Insurance Journal Oct.22. Reuters was reporting that third-quarter earnings reports from insurers would look a lot better than they did a year ago A recovering stock market and only …

Florida Approves 6.8% Workers’ Compensation Rate Cut

Florida Insurance Commissioner Kevin McCarty has given the green light to an overall statewide average workers’ compensation rate decrease of 6.8 percent. The decrease, which was proposed by the industry’s National Council on Compensation Insurance (NCCI), goes into effect beginning …

A Soft Landing

This soft market is likely to linger into the New Year. Analysts Forecast Healthy Q3 Reports from Insurers” promised the headline on Insurance Journal‘s Web site, www.insurancejournal.com, on Oct.22. Reuters reported that third-quarter earnings reports from insurers would look a …

The MacGyver Approach to Starting an Insurance Business

Quick Tips on How to Preserve Your Seed Cash Back in the 1980s, a popular television show named MacGyver gave rise to a whole new term. MacGyver’s ability to extricate himself from life-or-death situations by making something out of practically …