Insurance Jobs Fall for 12th Straight Month
Posted by: incur on: November 12, 2009
While many experts are bullish about the insurance industry shaking off the effects of the economic crisis in the coming year, the reality for insurance workers isn’t as rosy in the here and now. The U.S. Bureau of Labor Statistics (BLS) announced Friday that the U.S. insurance industry lost 3,400 jobs in October, which is the 12th consecutive month of losses, according to seasonally adjusted data.
Last month, industry payrolls were 2.244 Read the rest of this entry »
House Republicans Offer Health Overhaul Plan
Posted by: incur on: November 6, 2009
House Republicans unveiled their health reform proposal Tuesday night.
Their alternative health care bill “would reward states for reducing the number of uninsured, limit damages in medical malpractice lawsuits and allow small businesses to band together and buy insurance exempt from most state regulation,” The New York Times reports. “In its opening section, the Republican bill, which has no chance of passing, promises to lower health Read the rest of this entry »
Collision Repair Costs Found to Increase In Third Quarter
Posted by: incur on: November 6, 2009
The average vehicle crash damage repair on an adjusted basis increased $164 in the third quarter, according to an electronic processing provider for the collision industry.
San Diego-based Mitchell International said in the third quarter average gross appraisal value for comprehensive coverage estimates processed through company servers was $2,468 compared to $2,356 in the same period for 2008.
Applying a development factor of 2.1 Read the rest of this entry »
U.S. property/casualty capitalization declines
Posted by: incur on: November 6, 2009
OLDWICK, N.J.—Although the U.S. property/casualty insurance industry’s risk-adjusted capitalization declined 17 percentage points in 2008, the industry remains adequately capitalized to support its asset, credit and underwriting risks, according to a new A.M. Best report.
The Oldwick, N.J.-based ratings agency attributed the capital decline to the compound effects of the financial crisis, the fourth-highest year on record for U.S. catastrophe-related Read the rest of this entry »
Single-vehicle crashes cause most Del. road deaths
Posted by: incur on: November 6, 2009
Drivers who think other motorists pose the biggest hazard might want to think again — and pay more attention.
Single-car crashes cause most of the deaths on Delaware roads, and the large majority are blamed on distracted drivers, the AAA Mid-Atlantic mototists’ group reported today.
Its analysis of newly released National Highway Traffic Safety Administration data on roadway statistics also shows such deaths are on the rise. Single-vehicle Read the rest of this entry »
Insurers fighting claims over Chinese drywall
Posted by: incur on: November 4, 2009
While commercial and homeowner insurers are determining how to handle the financial headache they allege some Chinese drywall is causing, claims and costs continue to mount.
Several small private insurance companies have filed pre-emptive declaratory judgment motions in Florida state courts, saying they are not obligated to cover damages caused by the tainted drywall based on exclusions in their policies. While no large commercial insurers Read the rest of this entry »
Climate meeting portends change
Posted by: incur on: November 4, 2009
COPENHAGEN, Denmark?High hopes may be dimming for a global agreement to reduce greenhouse gas emissions at the U.N. Climate Change Conference in Copenhagen, Denmark, but risk managers and insurers do expect changes to come from the historic meeting in December.
World leaders are debating whether to try to forge a treaty at the Dec. 7-18 conference to replace the Kyoto Protocol, which was signed in 1997 and went into effect in 2005. It Read the rest of this entry »
Congress Encouraged to Protect Working Families and Flexible Spending Accounts in New Advertising Campaign
Posted by: incur on: November 3, 2009
WASHINGTON, Oct. 27 /PRNewswire-USNewswire/ — Save Flexible Spending Plans in partnership with the United Food and Commercial Workers International Union (UFCW) launched a new advertising campaign today encouraging Congress to honor President Obama’s pledge not to raise taxes on middle-class Americans by preserving, rather than restricting, the use of flexible spending accounts (FSAs) in health care reform legislation. The ads further promote Read the rest of this entry »
C.V. Starr Statement About Departures of A.I.G. Employees
Posted by: incur on: November 3, 2009
NEW YORK, Oct. 27 /PRNewswire/ — There have been a number of recent reports about an exodus of employees from A.I.G., and the role of C.V. Starr & Co., Inc. Over the last year, we understand that a number of AIG’s 100,000 employees have left A.I.G. to join the company’s direct competitors in the global property and casualty and life insurance businesses. Only thirteen of those employees have joined C.V. Starr & Co., Inc., which was formed in Read the rest of this entry »
Lock out drunken driving
Posted by: incur on: October 28, 2009
All Baltimore mourned the death of a 20-year-old Johns Hopkins University student recently struck and killed by a truck witnesses saw driven erratically earlier in the day. The sadness is likely to turn to outrage at the news that police have charged a man with a long history of drunken-driving convictions in the incident. The death of Miriam Frankl need not be in vain if it spurs lawmakers to make it far more difficult for intoxicated drivers Read the rest of this entry »
