NMSU Business Outlook: July 2012

New Mexico Consumers Pay Higher Auto Insurance Rates as a Result of Court Decisions

Al Berryman, New Mexico State University, Tim Query, New Mexico State University

The uninsured motorist part of an auto policy provides coverage for damages caused by a motorist who is both uninsured and legally liable to the person insured. Consumers in New Mexico pay some of the highest rates in the country due to high costs as a result of several court cases. These decisions include allowing “stacking” the limits of each insured vehicle, requiring punitive damages, not requiring physical contact with a vehicle (phantom vehicle) to be shown, and retroactively changed the rules for selecting policy limits. Recent court cases concerning uninsured motorists have increased rates for New Mexico drivers.

Complete Article: New Mexico Consumers Pay Higher Auto Insurance Rates as a Result of Court Decisions

Impressions of the Cuban Economy

Chris Erickson, New Mexico State University

Cuba is a country that few Americans have visited. Under embargo by the United States government since October 1960, Cuba has become something of a forbidden fruit. Family reunification and travel for academic research are two common exceptions to travel restrictions imposed on Cuba. As a result of the latter, I was able to travel to Cuba on a faculty exchange between June 18 and June 28 to study the Cuban economy. During my visit, I met extensively with faculty at the University of Havana and at the Center for the Study of the United States. I also talked with many private individuals. Much of my trip was restricted to Havana, but I saw a great deal of that city both in organized government-run tours and traveling independently. This is an idiosyncratic summary of my impressions of Cuba and the Cuban economy.

Complete Article: Impressions of the Cuban Economy

Talking Points

Christopher A. Erickson

Las Cruces continues to bump along at the edge of a full-blown recovery. The data are very mixed, with the household survey reporting employment growth of 1.1 percent but the establishment survey (which measures the number of jobs) showing a decline of 0.6 percent.

Complete Article: Talking Points

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