It Figures

2.4%

The average hike in auto insurance rates in Georgia this year. That compares to an average 5 to 11 percent hike for homeowners insurance. Georgia Insurance Commissioner John Oxendine said that in other states rates have gone up by double digits.

$3 Billion

The annual economic impact of alcohol-related crime, traffic crashes, health care and other costs attributable to underage drinking in Florida. Alcohol-attributable violent crime was responsible for the greatest costs to society, while traffic crashes were next, according to Economic Costs of Underage Drinking in Florida, a study from the Florida Department of Children and Families.

$500,000

The amount the Florida Association of Insurance Agents (FAIA) donated to launch a new charitable project, the Good Works Fund. In addition to helping independent insurance agents through scholarships, the fund will provide financial assistance to Florida citizens in need of a helping hand, according to the group.

118

The number of fake insurance policies allegedly sold by employees of Alabama’s Starfish Insurance Agency without the owner’s knowledge. The agency owner, Pamela Wynonn Schoen, says she has spent $450,000 to repay the people who bought the bogus property coverage and is asking the state not to revoke her license or cut off her ability to earn an income so she can pay back more. The employees disappeared in September.

9.4%

The percentage drop per $1,000 in revenue in the total cost of risk paid by businesses in 2008 compared to 2007. The drop was largely attributable to lower average premiums in almost every line of business, according to the 2009 RIMS Benchmark Survey. The total cost of risk is the sum of insurance premiums, retained losses and risk management administrative costs.

$3.4 Billion

The amount in federal bailout money being taken by Hartford Financial Services Group Inc. to bolster capital after large losses on investments. The 199-year-old life and property insurer said taking part in the Troubled Asset Relief Program and selling some stocks are important steps in building financial strength and remaining well-capitalized.