It Figures

41%

The Hartford Financial Services Group Inc. reported record third quarter 2006 net income had risen 41 percent over the same quarter in 2005. The group had net income of $758 million, or $2.39 per diluted share. The Hartford’s core earnings in the third quarter of 2006 were up 31 percent to $727 million, or $2.30 per diluted share. Property and casualty net income for the third quarter of 2006 was up 64 percent over the prior year to $381 million.

1,100

The number of Hurricane Katrina-related lawsuits filed against insurance companies in Federal court. Trial dates have been set for 145 Katrina-related insurance cases during 2007; a similar number could be scheduled for sometime later in 2007 and in 2008. The first trials start in January. Three courtrooms will be used for the cases. U.S. District Judge L.T. Senter Jr. will be joined in hearing the cases by other visiting judges from the 5th U.S. Circuit Court of Appeals, which includes Louisiana, Texas and Mississippi. Source: Associated Press

$705 Million

The amount in Oklahoma’s unemployment insurance trust fund, the highest level since 1997. The fund, which is used to pay unemployment benefits to workers who lose their jobs, had $705 million by June 30, according to the Oklahoma Employment Security Commission. Employers pay into the trust fund based on a ratio set by the Legislature. Fewer unemployment claims generally mean lower unemployment insurance tax rates for employers the next year. It also means there’s more money available for unemployment benefit checks. Mike Seney, senior vice president of operations with The State Chamber, said unemployment tax rates are a significant business expense. During the 2004 recession, businesses were paying up to $1,270 in unemployment insurance taxes annually for each employee. For 2007, maximum unemployment taxes for companies are capped at $765 per employee.

$8,864

The amount District Attorney Richard Gray, district attorney for Adair, Cherokee, Sequoyah and Wagoner Counties in Oklahoma is charged with embezzling from a drug task force safe. A Multicounty Grand Jury indictment unsealed recently in Oklahoma’s Cherokee County District Court accuses of embezzling money seized as evidence in drug investigations, state Attorney General Drew Edmondson said. The grand jury indicted Gray on one count of embezzlement. Edmondson said the indictment charges that in March 2004 Gray took the money, which was evidence in two separate seizures; the first totaling $2,330 and the second $6,534. Gray is not the first person to be indicted in the grand jury’s ongoing investigation of the district attorney’s office. Janet Bickel, former assistant district attorney, and Vyrl Keeter, office administrator, were indicted in January after the investigation discovered drug possession, tampering with evidence and a cover-up scheme. Both pleaded guilty to the charges.