Figures

November 4, 2007

$15.3 million

Mich.-based North Pointe Holdings Corp. signed an agreement for the sale of its Home Pointe Insurance Co. subsidiary, which comprises North Pointe’s Florida homeowners and dwelling fire operations, to American Capital Assurance Corp., a subsidiary of Safe Harbour Holdings LLC, a Florida-based insurance holding company. The purchase price is equal to Home Pointe’s current GAAP book value, approximately $15.3 million.

400

Traffic safety officials say 400 people have died on Minnesota roads in 2007. Last year, the state didn’t reach 400 traffic deaths until Nov. 13. Traffic safety officials say Minnesota is on pace this year to exceed last year’s total number of road deaths. At this rate, Minnesota is poised to exceed the 494 road deaths in 2006, the first year since 1945 that Minnesota road deaths totaled less than 500. The number of traffic fatalities in Minnesota has dropped consecutively the last three years.

$200 million

The Wisconsin Medical Society is planning to challenge lawmakers’ decision to transfer $200 million from a medical malpractice fund to help balance the budget. Lobbyist Mark Grapentine says the group has hired a lawyer who won a similar case against the state involving pension funds. He says a challenge will be filed shortly after Gov. Jim Doyle signs the budget into law. Doctors and hospitals pay premiums into the Patients’ Compensation Fund for medical malpractice insurance. The fund had $746 million in assets last year. Doyle and lawmakers say the fund has a surplus that can be used for health care programs. But the Legislature’s auditor says the transfer might be illegal and will put the fund on poor financial footing.

5.2 percent

The Indiana Department of Labor reported a 5.2 percent drop in the number of workplace injuries and illnesses in 2006 from the year before. The figures are compiled in a survey by the federal Bureau of Labor Statistics. The 5.2 percent drop reflected a decrease from about 117,400 injuries and illnesses in Indiana private industries in 2005 to 111,300 in 2006, despite an overall increase of 8,795 people working.

Topics Legislation Minnesota

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Insurance Journal Magazine November 5, 2007
November 5, 2007
Insurance Journal Magazine

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