(WisBusiness) FRI News Summary — 20 Feb. 2009

From WisBusiness.com …

— If state insurance industry officials are right, Gov. Jim Doyle’s budget bill could lead to a jump in insurance rates for individuals and businesses in Wisconsin.

One item Doyle is proposing would raise the minimum coverage requirement on auto insurance.

The president of the Wisconsin Insurance Alliance, Andy Franken, says raising caps would mean Wisconsin car insurance customers would see their rates jump by between 33 percent and 43 percent. Franken says the hardest hit ratepayers would be low- and middle-income families and individuals because they often purchase the minimum level of insurance. But he adds the change would impact all ratepayers.

In a separate proposal, Doyle proposes to alter what’s called the joint and several liability language in a way Franken says would impact small and large businesses across the state. The Wisconsin Civil Justice Council, which represents Wisconsin employers in civil litigation issues facing Wisconsin, dubbed the joint and several liability provision “budget stimulus for trial lawyers.”

But Madison attorney Keith Clifford downplayed both potential changes. He says the old minimums for auto insurance have been in place for nearly 30 years.

“The burden of costs of these cases has been shifted from liability to health insurance and BadgerCare and Medicaid,” Clifford said. The policy change “shifts the burden off health insurers and back onto liability insurance where it belongs.”

See more from the WisPolitics Budget Blog: http://blogs.wispolitics.com/budget

— Gov. Jim Doyle has proposed cutting the state’s film tax credit after it was revealed the state paid out $4.6 million in incentives to producers of the film “Public Enemies,” while realizing about $5 million from the production.

During a Thursday press conference, a reporter said he talked to a film producer who was planning to bring a $6 million production to the state, but won’t come if the credit is eliminated.

Asked if eliminating the credit is a good thing in light of the producer’s comments, Doyle deadpanned, “It probably saved us a lot of money.”

“Can anybody seriously justify that we should be laying out $4 million for one movie that comes here that doesn’t produce any long-term jobs for the state, where we end up paying portions of a director’s salary?” he asked. “You know, I’d like to see what that movie finally makes.”

But Lt. Gov. Barb Lawton, a proponent of the credits, said the Department of Commerce continues to misread the benefits of the program and said the move would essentially shut down a burgeoning film industry in Wisconsin. She said other studies have shown the Johnny Depp film included $18 million spent in Wisconsin, for example.

— Wisconsin AG J.B. Van Hollen announced a settlement with Countrywide Financial Corp. that he says will provide loan modification eligibility and over $41.1 million in other economic relief for Wisconsin borrowers.

The DOJ said the settlement followed an investigation into, among other things, the marketing practices of Countrywide. Wisconsin and other states investigating the company alleged that Countrywide misrepresented the quality and benefits of its products.

See more: http://www.wispolitics.com/index.iml?Article=149772

— Wisconsin residents currently receiving state or federal unemployment benefits will get an additional $25 in weekly unemployment compensation thanks to a provision in the federal stimulus bill just signed into law.

— Madison’s Edgewood College is now offering a Graduate Certificate Program in Urban and Rural Economic Development. The evening-only courses will begin Fall 2009.

Admission to the program requires an undergraduate degree (in any major) and interest in the field. The five-course program seeks to provide students with practical, hands-on experience on a broad range of economic development issues, including sustainability, entrepreneurship, comprehensive planning, community building, attracting capital, and marketing.

See details: http://wispolitics.com/index.iml?Article=149757

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REGISTER NOW: FOCUS ON MIDWEST ENERGY CONFERENCE II
Feb. 23, 2009 at Monona Terrace in Madison

Conference includes: U.S. Rep. Tammy Baldwin; Obama environmental adviser Howard Learner; Gary Mar, Alberta’s official representative to the United States; and David K. Owens, executive vice president of business operations at the Edison Electric Institute. For more information, see a recent press release: http://www.wispolitics.com/index.iml?Article=147100

For more information or to register, contact Jim Greer at 608-237-6296 or greer@wispolitics.com.

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