It Figures

April 5, 2010

$30.8 Million

The dividend announced by Kentucky’s major workers’ compensation insurance carrier after several weeks of political pressure. Earlier this month, Gov. Steve Beshear asked the insurer to consider returning some of its $147 million surplus as a premium reduction or dividend. Now Kentucky Employers’ Mutual Insurance (KEMI) has approved a total dividend of $30.8 million which it said will affect more than 73,000 employers. The dividend plan must be reviewed by the Kentucky Department of Insurance.

$1,350

The annual cost to North Carolina’s big-city motorists for their troubles from pot holes, longer waits in traffic and perilous roads, according to TRIP, a national transportation group. The figure represents lost time and gasoline costs sitting in traffic, car repairs and accidents where roadway design likely contributed to a wreck.

$19.2 Million

The award a Tennessee jury approved for a 62-year old woman who sued after surgery for a broken leg left her partially paralyzed. The jury also returned a $3 million verdict for her husband.

$999,248

The award to Mississippi from the federal government to pay for smoke alarms in homes. Commissioner of Insurance and State Fire Marshal Mike Chaney said the grant will be sued to purchase up to an additional 58,000 smoke alarms for low income families, senior citizens, families with children under 14 and persons with disabilities.

4

Mobile, Alabama’s new fire protection rating from ISO, a downgrade that is likely to boost insurance premiums for homeowners just outside the city limits. Fire-Rescue Chief Steve Dean said the biggest change should be in the jurisdiction that extends up to 3 miles outside the city where the rating dropped to a 5, and to a 9 or 10 in more remote sections. The best ratings are lower ratings on ISO’s 1-10 scale.

$26.6 Million

The amount that a Florida jury ordered R.J. Reynolds and Philip Morris to pay to the widow of a longtime smoker who died of lung cancer, the latest verdict against cigarette makers in the “Engle progeny” lawsuits. Philip Morris said it would appeal.

Topics Kentucky

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Insurance Journal Magazine April 5, 2010
April 5, 2010
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