Less Than Stellar
The economy has been less than stellar lately. Well, duh! You might say. As this edition of Insurance Journal goes to press, it is days before Thanksgiving, a time to reflect and give thanks for the bounty of life. On …
Declarations
Taking Care “At the end of the day, we’re going to make sure everyone is taken care of.” —North Carolina Gov. Mike Easley upon touring Johnston and Wilson counties after a weekend tornado killed two people and damaged or destroyed …
What the 2008 Election Means for Independent Agents
With incoming President-elect Barack Obama and major increases in the U.S. House of Representatives and the Senate, the Democrats will now control both chambers of Congress and the White House. The changing of the political guard, coupled with the recent …
A Good Win in North Carolina for Experience
New Chief Plans a Blog, Statewide Agent Meetings and a Solution for Coastal Property Owners and Insurers On Nov. 4, Democrat Wayne Goodwin won election as North Carolina Insurance Commissioner with 52 percent of the vote, succeeding 24-year veteran Jim …
Madrid Zone Earthquake Study a Wake-Up Call for Tennessee, Other States
A new federal study of the New Madrid Seismic Zone predicts Tennessee would see the highest level of damage if there is a 7.7 magnitude earthquake. The study notes that the total economic impact of a series of NMSZ earthquakes …
D&O Insurance Marketplace Entering a Transitional Phase
As Credit Crisis Ripples Through Economy, Competitive Conditions Could Be Shifting The growing wave of subprime-related litigation is among the many side effects of the subprime mortgage meltdown. The litigation wave has changed, too, as the subprime crisis evolved during …
New Alabama Commissioner Ridling Looking at Coastal Options
Alabama Gov. Bob Riley’s new insurance commissioner said the administration is considering its options to help coastal property owners struggling with high premiums and lost coverage in the wake of hurricanes, including possible state assistance. Insurance Commissioner Jim Ridling, appointed …
Buyers Advised to Prepare Now for Hardening Markets as 2008 Winds Down
Pressures that could harden the property/casualty insurance market loom in the final weeks of 2008, says a report by the insurance broker Lockton. “In the first half of 2008 insurer profits declined 57 percent, the industry posted its worst first-half …
Florida Cigarette Case Could Affect Other Products, Warn Business Groups
A tobacco lawyer has asked the Florida Supreme Court to reverse a $545,000 product liability verdict because the smoker who won wasn’t required to prove the company could have made a safer cigarette. The case could affect what have been …
Florida Workers’ Compensation Insurers Seek 8.9% Rate Hike Due to Court Ruling
A Florida Supreme Court ruling has resulted in a request to raise workers compensation rates by 8.9 percent. The National Council on Compensation Insurance filed the request, citing last month’s ruling in which justices struck down a cap on fees …