Declarations

Declarations

– Tara Hutchison, spokeswoman for Alabama Gov. Bob Riley, after a judge dismissed most of a lawsuit in which an indicted insurance executive accused the governor and others of conspiring to drive him out of the insurance business. Montgomery Circuit Judge Truman Hobbs Jr. rejected John Goff’s claims against Riley and former Lt. Gov. Steve Windom. However, the judge said Goff could continue with one part of the lawsuit involving state Insurance Commissioner Walter Bell, a Riley appointee.

Medical Market

– West Virginia Insurance Commissioner Jane L. Cline, after approving West Virginia Mutual Insurance Co.’s request to repay $8 million on an outstanding balance of the $16 million surplus note it owes the state. Since the WVMIC’s establishment, medical liability rates have decreased 15 percent, according to Cline.

Pleasing Rulings

– Florida Insurance Commissioner Kevin McCarty, after officially adopting the ruling of an administrative law judge who rejected a 30.3 percent property insurance rate increase sought by Florida Farm Bureau.

Fortified Building

“The Beach Pool can charge less for coverage since the building is less likely to suffer damage in a storm. This is a long-term solution for coastal areas.”

– Carl Schneider, an insurance agent in Mobile, Ala. and board member with Alabama Independent Insurance Agents Association, regarding new discounts implemented to help coastal Alabama policyholders reduce their insurance premiums for windstorm coverage. The Alabama Insurance Underwriting Association (Beach Pool) discounts will apply to homes built to the Fortified…for safer living construction standard of the Institute for Business & Home Safety.

Topics Alabama