It Figures

$300,000

Amount members of the Independent Insurance Agents and Brokers of Washington have put toward the campaign to pass Washington voter initiative I-1082. The initiative would open up the state workers’ compensation insurance system to the private market. Currently, the workers’ compensation insurance system is operated by the state Department of Labor and Industries. “Our members believe the current system doesn’t serve customers well. L&I has a chance of becoming insolvent, and we believe customers will be better served by having choices. It’s the reason [independent agents and brokers are] in business to begin with,” said Daniel Holst, executive vice president for the association. At press time, polls showed a tie between voters in favor and opposed to the initiative, although 38 percent of voters reported being undecided.

7.7 million

Number of people who were expected to have participated in the Great California ShakeOut, an earthquake drill in which participants practice how to protect themselves from falling objects. The event, held on October 21 across many California cities, as well as a few cities in New Mexico and Arizona, was the country’s largest earthquake drill in history. The event was sponsored by the Earthquake Country Alliance, which is made up of the California Emergency Management Agency (Cal EMA), the Southern California Earthquake Center (SCEC), the U.S. Geological Survey (USGS), the California Earthquake Authority (CEA), the American Red Cross (ARC), the Federal Emergency Management Agency (FEMA), the California Department of Education, State Farm and many others.

$10 Million

Allstate has agreed to pay $10 million to 45 states in a regulatory settlement involving its use of claims handling software. New York State Insurance Superintendent James J. Wrynn said the agreement follows an 18-month targeted National Association of Insurance Commissioners (NAIC) multi-state market conduct examination of Allstate’s claims handling practices. The agreement calls for Allstate to change procedures and for state insurance departments to better train their examiners in insurers’ use of claims technology. The examination focused on Allstate’s use of claims handling software – particularly Colossus – which Allstate used to guide settlement offers for bodily injury claims after automobile accidents. The NAIC found that Allstate had failed to modify or “tune” the software in a uniform and consistent manner across its claims handling regions.