Figures

20%

The premium refund that The Medical Assurance Company of Mississippi is giving to its physician customers. According to Michael D. Houpt, MACM president, the malpractice insurance refund has been made possible almost entirely as a result of the significant reduction in incurred losses, a development he and others attributed to recent lawsuit reform legislation.

56%

The highest possible rate reduction to be afforded Pasco County, Fla., homeowners who opt not to buy sinkhole coverage, according to Citizens Property Insurance Corp. Under the proposal, homeowners throughout the state who wish to purchase the sinkhole coverage may still do so for an additional premium charge.

500

The number of new jobs possible as a result of Birmingham, Ala.-headquartered Infinity Property and Casualty Corp.’s decision to consolidate several operating units from around the country in Birmingham. The insurer has received incentive packages from the city of Birmingham, Jefferson County and the state of Alabama.

8.2%

The rate hike granted to two Allstate property insurance companies in Florida affecting roughly 400,000 customers. Allstate Floridian Insurance and Allstate Floridian Indemnity had originally requested rate increases of 22.5 percent and 33.2 percent, respectively, but state officials rejected those bids. The new rates are for new and renewal business as of Feb. 11. The two insurers last increased rates in October 2005.

$16 million

The amount a Miami-Dade jury awarded a woman in a medical malpractice case alleging that complications from an unnecessary operation left her brain damaged. Her attorneys argued that the surgery was unnecessary and that University of Miami neurosurgeon Jacques J. Morcos mishandled the operation. But Morcos said the tumor could have been deadly.

$1.8 million

The amount investors lost due to an alleged fraud scheme by a Smithville, Tenn., insurance broker who was arrested on 15 counts of wire fraud, according to officials. The federal grand jury indictment said B. Don James defrauded investors by telling them he would use their money to buy financed insurance premium contracts but never used the money for those purposes.

$9 million

The cost to West Virginia’s BrickStreet Mutual Insurance Co. of purchasing new office space at Charleston Town Center. BrickStreet said it will spend about $10 million to renovate the space. The firm will occupy about 86,000 square feet and lease the remaining 16,500 square feet to help offset costs.