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BodyShop Business Blog

$505 Billion?

Quote of the day from a story in the Kansas City Star on how the economic crisis may drive up car and home insurance rates because the Wall Street goings-on have negatively impacted insurance companies. The quote was from Robert Hartwig, chief economist for the Insurance Information Institute:

“People should not read into this that insurers are in trouble financially,” Hartwig said, pointing to statistics that showed that insurers had $505 billion to pay claims as of June 30.

I'll say.

 

 

 

Published Oct 22 2008, 12:13 PM by jstahl

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About the Author

Jason Stahl has 14 years of experience as an editor, the last two serving as editor of BodyShop Business. He currently serves as an advisor to the Paint, Body and Equipment Specialists Committee of the Automotive Aftermarket Industry Association and is a gold pin member of the Collision Industry Conference. Jason, who hails from Cleveland, Ohio, earned a bachelor of arts degree in English from John Carroll University in 1994 and started his career in journalism at a weekly newspaper, doing everything from delivering newspapers to selling advertising space to writing articles. In 1999, he broke into trade publishing with a five-year stint at Advanstar Communications. In his spare time, Jason enjoys playing golf and spending time with his two children.
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