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Posts Tagged ‘Billion

Atlanta, Georgia (CNN) — Motor vehicle accidents don’t just impact the people involved, they also impact the economy, to the tune of just under $100 billion for medical care and injury-related productivity losses in the United States each year, according to a study released by the Centers for Disease Control and Prevention on Wednesday. That includes $3.6 billion annually toward injuries to children.

On average, each licensed driver in the Read the rest of this entry »

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WASHINGTON — The first warning sign was a house in Humble.

Between 1977 and 1995, the National Flood Insurance Program paid out $806,591 for repeated storm damage to a suburban Houston home that was valued at $114,480. If you think the math doesn’t add up, you’re not the only one.

The federal government’s program to protect coastal residents from nature’s devastation has coughed up more than $8 billion over the past 15 years for more Read the rest of this entry »

The Obama administration on Monday will propose raising nearly $60 billion over 10 years through changes to the estate tax law and closing certain domestic tax loopholes, an administration official said.

Funds raised will go to beef up a health care reserve fund, a $634 billion pot of money President Barack Obama wants to use to revamp the health care system and expand insurance to tens of millions of Americans who lack it.

The White Read the rest of this entry »

With the prospect of nearly $2 billion in professional liability claim payments looming from the litigation fallout of a Ponzi scheme orchestrated by Bernard Madoff, directors and officers insurers were eager to pinpoint potential sources of exposure during a recent industry gathering.

?It?s certainly going to have an impact on [insurers?] underwriting procedures,? said Stephen Mildenhall, head of Aon Benfield’s Actuarial and Enterprise Read the rest of this entry »

U.S. property/casualty insurers are expected to pay homeowners and businesses $25.2 billion for 2008 property losses from 37 catastrophes ? the fourth highest cost in a decade and the highest frequency in a decade, according to preliminary analysis by ISO?s Property Claim Services Unit.

PCS estimates that insurers paid 3.9 million claims for damage in 40 states resulting from 2008?s 37 catastrophes. More than 2.7 million personal Read the rest of this entry »