North Carolina News

Workers’ comp market ‘guarded’ at the moment, expert says

Singer Bob Dylan’s song, “The Times, They Are a Changin,’” was cited as a cautionary reminder by Steve Klingel, NCCI Holdings Inc.’s president and CEO, as he gave a positive report on 2005 results for the workers’ compensation industry during …

Rising legal, medical costs and speedy payments mark region’s WC systems

While medical and litigation expenses are causing workers compensation insurers’ costs to creep up in the Northeast, there are some positive signs amid the claims trends for insurers and injured workers in several key states. Average total costs per workers’ …

June 5 Funeral Services in Miami, Fla. for Phil C. Gallagher, 79

Phil C. Gallagher, a long-time Florida insurance agent, litigation consultant and expert witness passed away peacefully in Miami June 1. Gallagher, 79, was surrounded by his family at the time of his death. Phil was a well-known insurance industry veteran, …

Virginia Trucker Honored for Logging 6 Million Accident-Free Miles

It was a bitter cold night in New York city some 40 years ago. Trucker Robert C. Wrenn pulled his rig to a halt at a red light and suddenly, there was a sharp rap on the metal door next …

N.C. Commissioner Gives Hurricane Preparation Tips

Spring storm season is upon us and with hurricane season beginning June 1, Insurance Commissioner Jim Long urges North Carolinians to be prepared for any storms that may come toward his state. “No matter where in North Carolina you live, …

Study: 18 Million Americans May Be Unfit for Roads

Results from the second annual GMAC Insurance National Drivers Test suggest licensed Americans lack basic driving knowledge and exhibit alarming behaviors on the road. The study revealed that one in eleven drivers–nearly 18 million people–would fail a state drivers test. …

Pa. Workers’ Comp Claims Costs Below Median But Growing Steadily

Average total costs per workers’ compensation claim in Pennsylvania showed steady growth, increasing more than 8 percent for claims evaluated in mid 2004 with 12 months’ maturity, according to a new report by the Cambridge, Mass-based Workers Compensation Research Institute …

States Promise Quicker Insurance Product Approvals Under New System

State regulators have reached a milestone in their efforts to streamline product regulation, with a centralized approval system for certain life and financial products on the verge of becoming reality. After three years of lobbying, the required number of states …

Cohen, DeCarlo, Henderson Elected to CIAB Board

Robert L. Cohen, chairman and CEO of The IMA Financial Group, Inc., in Denver, Colo.; M. Steven DeCarlo, president and CEO of American Wholesale Insurance Group of Charlotte, N.C.; and Jim W. Henderson, president and chief operating officer of Brown …

Crist Reaches $609,000 Settlement from Hurricane Price Gouging

A settlement has been reached with a North Carolina-based company, resolving price gouging allegations stemming from the 2004 hurricane season, according to Florida Attorney General Charlie Crist. Southeastern Restoration, Inc., also known as Afterdisaster, will pay more than $19,500 in …