It Figures

6 Hours

Global consumers spent more than six hours per month on social networks in March, more than twice the level a year earlier, according to The Nielsen Co. As more and more people join social networks, companies are increasingly aware that they also need to have a presence on these sites.

$272 Million

Anadarko Petroleum Corp., which owns 25 percent of the ruptured well in the Gulf of Mexico, has told BP Plc that, for now, it will not pay a $272 million bill from the British oil company to cover cleanup costs. Anadarko said the accident, which killed 11 people and caused the worst environmental disaster in U.S. history, “was preventable and the direct result of BP’s reckless decisions and action.” (Reuters)

9/30

The new temporary reauthorization deadline for the federal flood insurance program. The reauthorization of the National Flood Insurance Program (NFIP) is retroactive to June 1, the date the program was halted. NFIP was forced to halt operations three times this year because Congress could not agree on legislation in time to extend the program.

“It is alarming that the NFIP was allowed to remain expired for so long, causing so much confusion and potentially leaving desperate homeowners and small businesses unprotected for almost a month,” said Robert Rusbuldt, president and CEO for the Independent Insurance Agents and Brokers of America (the Big “I”).

Read more: https://www.insurancejournal.com/news/national/2010/07/01/111226.htm#ixzz0tXALDD6m