It Figures

April 21, 2008

600

The number of earthquakes that have shaken the basin off the coast of central Oregon in early April. Scientists noted they are baffled by the “swarm” of quakes, because that is something that often happens before a volcanic eruption, but there are no volcanoes near Oregon. The largest of the quakes measured a magnitude of 5.4. Researchers from the National Oceanic and Atmospheric Administration and Oregon State University will be investigating the waters to try to determine their cause. (AP)

53%

Peak market share the California State Compensation Insurance Fund has had in the state workers’ compensation insurance market, according to President Janet Frank. However, Frank said that figure was an “aberration,” and the ideal market share for the insurer is in the 18 percent to 24 percent range.

150,000

Number of pages of documents Allstate made public of a report by consultant McKinsey & Co. on the company’s claims practices in the 1990s. Consumer advocate group Consumer Watchdog said the pages prove the company padded its profits and underpaid claims. However, Allstate said the documents, as analyzed by CW and others, were taken out of context. “Public criticisms by people with a vested interest in creating an inaccurate picture of the company’s claim practices have been based unfairly on only snippets from the documents taken out of context,” the company said. It noted that the documents were designed to help it more consistently and effectively evaluate claims.

Topics Oregon

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Insurance Journal West April 21, 2008
April 21, 2008
Insurance Journal West Magazine

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