Declarations

March 24, 2008

Long-Term Vision Needed

“The nation needs to develop a new long-term vision for its highway system that would include improving conditions and safety and reducing traffic congestion.”

—William M. Wilkins, executive director of TRIP, a national transportation research group. A study released by TRIP revealed that 23 percent of the nation’s major metropolitan roads – interstates, freeways and other critical local routes – have pavements in poor condition, which costs the average urban motorist $413 annually due to accelerated vehicle deterioration, additional maintenance needs and increased fuel consumption. New Orleans, Oklahoma City, Tulsa, Houston and San Antonio, are among the 20 large urban regions (500,000- plus population), with the greatest share of major roads and highways with pavements in poor condition, according to TRIP’s report, “Keep Both Hands on the Wheel: Metro Areas With the Roughest Rides and Strategies to Make Our Roads Smoother.” The report can be found online at www.tripnet.org/index.html.

The Last Behemoth?

“This probably is one of the last behemoth issues in the hurricane litigation.”

—Soren Gisleson, head of the insurance section at the Louisiana Association for Justice, formerly known as the Louisiana Trial Lawyers Association, commenting on conflicting rulings by federal judges in New Orleans and Lake Charles, La., concerning the amount of money homeowners can collect on damage from the 2005 hurricanes. Federal judges in New Orleans have ruled that the amount of money Hurricane Katrina victims can recover from their homeowners insurance policies is limited by the amount they received from the National Flood Insurance Program, the Associated Press reported. But federal judges in Lake Charles have ruled that Hurricane Rita victims can potentially collect the full value of both the flood and the wind policies, meaning that they could end up with payouts totaling more than the value of their homes. Only a few cases in state court have the potential to test the issue. Gisleson said he hopes the Louisiana Supreme Court will address the issue and resolve it.

Violated Obligations

“I have acted in a way that violated the obligations to my family and that violates my or any sense of right and wrong.

—New York Gov. Eliot Spitzer, in a public statement responded to a report by The New York Times that he had been a customer of a prostitution ring being investigated by FBI. He subsequently resigned his office. At press time Spitzer had not been charged. As New York attorney general he angered many on Wall Street and in the insurance industry by going after high-profile firms for alleged improper business practices.

Something’s Fishy

“It certainly has had some effect.”

—Jud Reis, spokesman for Gloucester, Mass.-based Gorton’s, following a voluntary recall made by the company after a Pennsylvania family found pills in the company’s fish fillets. The FDA suspects the food was tampered with. Gorton’s recalled about 1,000 cases of its 6 Crispy Battered Fish Fillets in 11 states, including Texas and Oklahoma.

Topics New York Louisiana Hurricane

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Insurance Journal Magazine March 24, 2008
March 24, 2008
Insurance Journal Magazine

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