It Figures

August 4, 2008

$475,000

Amount spent on state lobbyists in Massachusetts by Commerce Insurance Group in the first six months of 2008 – making it the largest single spender on lobbying in that time frame. The expenditures come as the state’s largest auto insurer adjusts to new regulations allowing competition in the car insurance market.

9

Minimum number of vacant homes targeted by arsonists in Sussex County, Delaware over the last two months. Chief Deputy State Fire Marshal Randall Lee says investigators have linked the nine fires, but aren’t sure if one or more arsonists are involved.

19%

The drop in sales in June for SUVs and pickups, while sales of compacts, sedans and other smaller, more fuel-efficient cars jumped 3 percent, according to Ward’s Automotive Group. The accelerating consumer shift from sport utility vehicles and pickups to more fuel-efficient cars should reduce rollover, but insurance and safety experts worry a lighter fleet also poses serious risks despite air bags, anti-collision systems and other advances.

$144,000

Fine paid to Connecticut officials by Vermont Mutual Insurance Co. for having 104 agents who were not appointed and 15 agents who were not licensed in the state, according to the insurance department. The department says Vermont Mutual agreed to review its practices.

$4.7 Billion

The amount Japan’s Tokio Marine Holdings, Inc. reported that it will pay for Philadelphia Consolidated, a U.S. property/casualty insurance company offering specialty commercial property and casualty insurance to targeted markets. It is considered the biggest acquisition of a U.S. company by a Japanese financial firm.

0.491

Blood alcohol level of a man arrested by Rhode Island police for drunk driving — the highest ever recorded in the state for someone who wasn’t dead. The legal limit is 0.08. A level of 0.30 is classified as stupor, 0.4 is comatose and 0.5 is considered fatal.

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Insurance Journal West August 4, 2008
August 4, 2008
Insurance Journal West Magazine

Agency Options: Networks, Financing, Staffing; Homeowners & Condos; Top Performing P/C Insurers: 2Q