Insurance Journal » Economy http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Wed, 20 Aug 2014 10:25:50 +0000 en-US hourly 1 http://wordpress.org/?v=3.9.2 Manufacturing Growth to Aid Midwest Economy http://www.insurancejournal.com/news/midwest/2013/10/02/307044.htm Wed, 02 Oct 2013 16:25:33 +0000 http://www.insurancejournal.com/?p=307044 A new survey of business leaders in nine Midwest and Plains states suggests that manufacturing growth will help fuel the regional economy through the end of the year, according to a report released on Oct. 1. The overall Mid-America Business …

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Survey: Michigan Businesses Confident About Growth http://www.insurancejournal.com/news/midwest/2013/06/17/295789.htm Mon, 17 Jun 2013 16:47:19 +0000 http://www.insurancejournal.com/?p=295789 The latest Michigan Future Business Index survey of small and midsize business leaders shows unequalled confidence in the state’s business economy and a rekindled desire to reinvest in their own future, according to Accident Fund Insurance Company of America. Business …

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Midwest, Plains Economy Still Growing Steadily: Survey http://www.insurancejournal.com/news/midwest/2013/06/04/294316.htm Tue, 04 Jun 2013 16:06:31 +0000 http://www.insurancejournal.com/?p=294316 A monthly survey of business leaders suggests the economy in nine Midwest and Plains states will continue growing steadily over the next few months. The overall economic index for the region declined slightly to 56.2 in May from April’s 56.8, …

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Study: Agriculture Plays Important Role in Utah Economy http://www.insurancejournal.com/news/west/2013/02/11/280810.htm Mon, 11 Feb 2013 16:16:11 +0000 http://www.insurancejournal.com/?p=280810 Agriculture continues to play an important role in Utah’s economy, according to a Utah State University study. The study found that when taking into account related industries such as food processing, agriculture contributed $17.5 billion to the state’s economy in …

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Big Quake Could Cause $30B Damage to Oregon http://www.insurancejournal.com/news/west/2013/02/06/280265.htm Wed, 06 Feb 2013 17:04:40 +0000 http://www.insurancejournal.com/?p=280265 A state commission says a magnitude 9 earthquake off the Oregon coast and tsunami could cause more than $30 billion damage to the state economy. Such a quake also could kill as many as 10,000 people in the state, but …

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Great Plains Cities Seize New Wave of Prosperity http://www.insurancejournal.com/news/midwest/2013/02/01/279690.htm Fri, 01 Feb 2013 16:01:41 +0000 http://www.insurancejournal.com/?p=279690 Take a look around: Life is pretty great in the Great Plains. So good that cities such as Sioux Falls and others in a region that stretches from the Dakotas to Texas are embarking on big building projects. While other …

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Texas’ Expected Surplus Won’t Lessen 2013 Budget Fight http://www.insurancejournal.com/news/southcentral/2013/01/02/275766.htm Wed, 02 Jan 2013 17:53:58 +0000 http://www.insurancejournal.com/?p=275766 Shortfall and sacrifice: that’s how the Texas Legislature two years ago defended gutting $5.4 billion from public education, laying off thousands of public workers with slashed spending and stripping Medicaid to the bone. The new budget s-word this time around? …

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Midwest Economic Index Rises Slightly http://www.insurancejournal.com/news/midwest/2012/12/04/272695.htm Tue, 04 Dec 2012 17:23:50 +0000 http://www.insurancejournal.com/?p=272695 A monthly economic index report suggests an economic slump will continue over the next three to six months for nine Midwest and Plains states. The Mid-America Business Conditions index rose slightly in November to a weak 48.0 from 46.5 in …

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EU Insurers’ Capital Charges May be Cut to Boost Loans http://www.insurancejournal.com/news/international/2012/09/28/264762.htm Fri, 28 Sep 2012 15:27:33 +0000 http://www.insurancejournal.com/?p=264762 Capital charges for insurers in the European Union could be cut to encourage lending for long-term projects and help boost the flagging economy, the bloc’s executive body said in a high profile policy shift. The European Commission has written to …

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WTO Cuts 2012 Global Trade Growth Forecast to 2.5% http://www.insurancejournal.com/news/international/2012/09/21/263879.htm Fri, 21 Sep 2012 10:14:31 +0000 http://www.insurancejournal.com/?p=263879 World trade will grow by a mere 2.5 percent this year, dragged down by Europe to less than half of the previous 20-year average, the World Trade Organization (WTO) said on Friday. The WTO cut its estimate from a 2012 …

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Commentary by Gordon Brown:* Europe Risks Going the Way of Japan http://www.insurancejournal.com/news/international/2012/09/14/263083.htm Fri, 14 Sep 2012 10:41:58 +0000 http://www.insurancejournal.com/?p=263083 The good news is that Europe is no longer going the way of Greece. The sad news is that it is threatening to go the way of Japan. After years of hesitation punctuated by panic, Europe has finally accepted the …

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Reinsurance Rendezvous Focuses on Euro Zone, Interest Rates, Capital http://www.insurancejournal.com/news/international/2012/09/10/262379.htm Mon, 10 Sep 2012 10:38:06 +0000 http://www.insurancejournal.com/?p=262379 For once there’s no natural catastrophe hanging over the annual Reinsurance Rendezvous in Monte Carlo (the 56th edition). Tropical storm Leslie missed Bermuda and Hurricane Michael is safely out in the Atlantic. But that doesn’t mean there are few concerns …

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Drought, Low Export Demand Sap Midwest Economy http://www.insurancejournal.com/news/midwest/2012/09/05/261737.htm Wed, 05 Sep 2012 15:44:28 +0000 http://www.insurancejournal.com/?p=261737 An August survey suggests that the continuing drought and lessening export demand for U.S. products are among the drains on the economy in nine Midwest and Plains states, according to a report released Tuesday. The Mid-America Business Conditions Index remained …

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Euro Zone Skirts Slump; Reprieve Seen Short-lived http://www.insurancejournal.com/news/international/2012/08/14/259240.htm Tue, 14 Aug 2012 12:23:31 +0000 http://www.insurancejournal.com/?p=259240 The euro zone economy narrowly skirted recession in the first half of the year, but austerity programs across the region and a debt crisis weighing ever more heavily on its periphery suggest the reprieve will be short-lived.     Gross domestic …

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India’s Basic Realities May Confound New Finance Minister’s Reform Agenda http://www.insurancejournal.com/news/international/2012/08/10/258954.htm Fri, 10 Aug 2012 10:11:02 +0000 http://www.insurancejournal.com/?p=258954 The return of a pro-market reformer to India’s finance ministry has cheered investors and contributed to a market rally, but Palaniappan Chidambaram will need both political deftness and some luck to tackle the problems dragging the economy down. Faced with …

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Survey: Small Business Optimism Drops, But Remains In Positive Territory http://www.insurancejournal.com/news/west/2012/08/08/258784.htm Wed, 08 Aug 2012 23:30:44 +0000 http://www.insurancejournal.com/?p=258784 The Wells Fargo/Gallup Small Business Index fell six points to positive 17 in a survey conducted in July that reflects on the third quarter, but one economist who worked on the poll is taking the positive view that following the …

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ECB Head Sends Strong Signal Bank Will Act to Protect Euro Zone http://www.insurancejournal.com/news/international/2012/07/26/257244.htm Thu, 26 Jul 2012 13:32:21 +0000 http://www.insurancejournal.com/?p=257244 European Central Bank President Mario Draghi pledged on Thursday to do whatever was necessary to protect the euro zone from collapse, sending a strong signal that inflated Spanish and Italian borrowing costs were in his sights. Fears about the euro …

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World Bank Head Warns No Region Immune to Europe Debt Crisis http://www.insurancejournal.com/news/international/2012/07/19/256233.htm Thu, 19 Jul 2012 10:27:22 +0000 http://www.insurancejournal.com/?p=256233 World Bank President Jim Yong Kim on Wednesday warned that most regions of the world will be hurt by the debt crisis enveloping the euro zone and said it was vital to protect the strong economic gains of the past …

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Geneva Association Survey Targets ‘Inappropriate Regulation,’ Economic Crisis http://www.insurancejournal.com/news/international/2012/07/18/256010.htm Wed, 18 Jul 2012 10:30:37 +0000 http://www.insurancejournal.com/?p=256010 A bulletin from the insurance think tank The Geneva Association notes that “leaders of the insurance industry have significant concerns about the effects of inappropriate regulation and the effects of the current economic crisis,” according to a survey it conducted. …

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IMF Cuts Global Growth Forecast as Emerging Economies Slow http://www.insurancejournal.com/news/international/2012/07/17/255891.htm Tue, 17 Jul 2012 10:14:47 +0000 http://www.insurancejournal.com/?p=255891 The International Monetary Fund has cut its forecast for global economic growth and warned that the outlook could dim further if policymakers in the euro zone do not act with enough force and speed to quell their region’s debt crisis. …

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No Let Up in Gloom for Europe’s Biggest Economies http://www.insurancejournal.com/news/international/2012/07/05/254500.htm Thu, 05 Jul 2012 09:10:19 +0000 http://www.insurancejournal.com/?p=254500 All of Europe’s biggest economies are in recession or heading there and there is little sign things will improve soon, surveys showed on Wednesday, backing a growing view that the region’s major central banks are poised to ease policy this …

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Irish ‘Yes’ Vote Assures Continued Support; Euro Zone Crisis Still Weighs http://www.insurancejournal.com/news/international/2012/06/05/250059.htm Tue, 05 Jun 2012 10:44:40 +0000 http://www.insurancejournal.com/?p=250059 Ireland held a referendum on Thursday, May 31 – a straight yes or no vote on whether the country would write the “Stability Treaty,” the austerity measures agreed to last fall by the 17 euro zone countries, into law. It …

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Tackling Euro Zone Crisis is Top Priority for G8 Leaders http://www.insurancejournal.com/news/international/2012/05/18/248124.htm Fri, 18 May 2012 10:55:46 +0000 http://www.insurancejournal.com/?p=248124 Leaders of major industrial economies meet this weekend to try to tackle a full-blown crisis in Europe where fears are growing that Greece could leave the euro zone bloc, threatening the future of the common currency. President Barack Obama, the …

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Geneva Association Reminds Federal Reserve Insurers Aren’t Banks http://www.insurancejournal.com/news/international/2012/05/02/245858.htm Wed, 02 May 2012 10:16:58 +0000 http://www.insurancejournal.com/?p=245858 The Swiss-based insurance think tank Geneva Association has followed up on its recent report as to whether or not some insurers should be considered as G-SIFI’s (globally systemic important financial institutions). The Association has sent a letter to the Federal …

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Reuters Columnist James Saft on Europe’s Credit Crunch; Bank Capital http://www.insurancejournal.com/news/international/2012/05/02/245849.htm Wed, 02 May 2012 09:24:26 +0000 http://www.insurancejournal.com/?p=245849 Europe looks to be entering a credit crunch, with loans harder to get and those that are made coming on tougher terms. Strikingly, banks are being tight despite falling demand for credit, pointing to a nasty interaction between the economy, …

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Drought Takes Toll on Texas’ Urban Forest http://www.insurancejournal.com/news/southcentral/2012/02/15/235598.htm Wed, 15 Feb 2012 18:00:09 +0000 http://www.insurancejournal.com/?p=235598 An estimated 5.6 million trees that once shaded homes, streets and parks in communities across Texas now are dead as a result of last year’s unrelenting drought, the Texas Forest Service says. The economic cost resulting from the loss is …

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World Economic Forum Warns Economic, Social Turmoil Risk Globalization Gains http://www.insurancejournal.com/news/international/2012/01/11/230698.htm Wed, 11 Jan 2012 13:35:16 +0000 http://www.insurancejournal.com/?p=230698 The latest report from the World Economic Forum highlights the “world’s vulnerability to further economic shocks and social upheavals.” Together they “risk undermining the progress that globalization has brought,” the report warns. The seventh edition of the Global Risks 2012 …

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Michigan Unlikely to Restore Lost Jobs for Decades http://www.insurancejournal.com/news/midwest/2012/01/09/230422.htm Mon, 09 Jan 2012 15:53:03 +0000 http://www.insurancejournal.com/?p=230422 State budget director John Nixon likes getting together with fellow budget directors these days because it gives him a chance to brag about Michigan. After a decade of ongoing deficits, “we’re in a position now where we’re not in crisis …

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Willis Re Reports Jan. 1 Renewals Focus on Nat Cat Data http://www.insurancejournal.com/news/international/2011/12/30/229147.htm Fri, 30 Dec 2011 13:09:16 +0000 http://www.insurancejournal.com/?p=229147 An analysis from Willis Re, the reinsurance broking arm of Willis Group Holdings, notes that the majority of this year’s catastrophe losses arose “from un-modeled or inadequately modeled perils or territories.” As a result reinsurers “are being more forceful in …

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IMF’s Lagarde Warns No Country is Immune from Rising Risk http://www.insurancejournal.com/news/international/2011/12/16/227752.htm Fri, 16 Dec 2011 11:08:59 +0000 http://www.insurancejournal.com/?p=227752 The world economic outlook is “quite gloomy” and will require action by all countries, starting with those in Europe, to head off an escalating crisis that carries risks of a global depression, the head of the International Monetary Fund said …

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