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April Brings in Fewer Job Losses than Expected

A better-than-expected showing materialized in April in which employers cut far fewer jobs than in recent months and the unemployment rate dropped to 5 percent.    For the fourth month in a row, the economy lost jobs, the Labor Department reported Friday.But in April the losses totaled 20,000, an improvement from the 81,000 reductions in… Continue reading April Brings in Fewer Job Losses than Expected

NY Appeals Court Upholds Verdict: Port Authority Liable for Damages in 1993 Terrorist Attack

According to the New York appeals court, which is affirming a jury’s verdict, the Port Authority of New York and New Jersey is liable for damages from the 1993 terrorist bombing at the World Trade Center that killed six people and wounded about 1,000 others.    The Port Authority was warned about the WTC’s vulnerability… Continue reading NY Appeals Court Upholds Verdict: Port Authority Liable for Damages in 1993 Terrorist Attack

Troubled Housing Market Slows Down Home Depot’s US Plans

The world’s biggest home-improvement retailer Home Depot Inc. announced today that it has put the brakes on opening nearly 50 U.S. stores, some that have been in the pipeline for more than 10 years, and will close 15 under-performing stores as it cuts capital spending to improve returns. The closings will eliminate or move 1,300… Continue reading Troubled Housing Market Slows Down Home Depot’s US Plans

As Hurricane Season Nears, FEMA Urges Americans to Prepare, Have Flood Insurance

Hurricane season begins June 1, and officials of the Federal Emergency Management Agency (FEMA) are stepping up awareness from now, urging Americans to prepare their homes and businesses for the heightened flood risks associated with hurricanes and tropical storms.     In the past, the consequences of seasonal flooding as a result of hurricanes have… Continue reading As Hurricane Season Nears, FEMA Urges Americans to Prepare, Have Flood Insurance

NAIC Commends NCSL’s Commitment for Ongoing State-based Regulation

The National Association of Insurance Commissioners (NAIC) recognizes the National Conference of State Legislatures (NCSL) for their commitment to state-based insurance regulation and important consumer-protection measures.    At their Spring Forum, NCSL members approved adoption of the Resolution in Opposition to S. 40/H.R. 3200 – the National Insurance Act of 2007. The resolution opposes the… Continue reading NAIC Commends NCSL’s Commitment for Ongoing State-based Regulation

Allstate to Comply with CA Regulator, Will Cut Auto Rates

Allstate Corp will lower auto rates by 15.9 percent by May 12th, the deadline set in compliance with an order by the state’s insurance regulator that the carrier had previously challenged.     “Yes, we are complying with the reduction and we expect to have it in advance of the May 12 deadline,” said Peter… Continue reading Allstate to Comply with CA Regulator, Will Cut Auto Rates

CIGNA Posts Significant Drop in First-Quarter Profits

Philadelphia-based health carrier Cigna Corp. posted an 80 percent drop in first-quarter profits due to softness in its core health care unit and hefty charges in its annuities business.    The company earned $58 million, or 21 cents per share, in the quarter, compared with $289 million, or 98 cents, in the quarter a year… Continue reading CIGNA Posts Significant Drop in First-Quarter Profits

VA Tornado Damage Could Reach More than $20 Million

Three tornadoes touched down in central and southeastern Virginia on Monday, injuring at least 200 people throughout the Commonwealth. By Tuesday night, preliminary damage estimates in the city of Suffolk, where the tornadoes ripped through, topped $20 million for the city after assessing 342 properties.     The twister, a category EF-3 with winds reaching… Continue reading VA Tornado Damage Could Reach More than $20 Million