Declarations

Surplus Clarity

“Trial lawyers wanted many things and we agreed to most of them especially when they protect the consumer. We have seen no other interest opposing these bills.”

—Steve Finver, president, Florida Surplus Lines Association, who has been working with surplus lines, Lloyd’s and other property/casualty lobbyists in Tallahassee to guide legislation they hope will clarify the surplus lines industry’s regulatory status in the state. The bills also add some consumer protections and disclosure requirements urged by trial lawyers. Finver was hopeful that the legislation would pass both the House and Senate before the session ended on May 1. If not, he fears, surplus lines carriers might restrict their writings in the state.

Cynically Viewed

“Contributing to the current economic volatility have been ideologically driven initiatives not premised on fact or consumer protection. Financial institutions pushed for deregulation to promote ‘innovation’ while fundamental consumer protections, like solvency, were dismissed as obstacles to profit. With this in mind, the myth-laden pleas of an otherwise prudent Tom Wilson, CEO of Allstate, in search of federal regulatory relief should be viewed cynically.”

—Michael T. McRaith, Illinois Director of Insurance, responding to an opinion in the New York Times by Wilson advocating federal regulation.

Scary Firefighters

“When we get dressed up, we kind of look like Darth Vader. A lot of younger kids in a fire situation, they get scared, and they’ve been known to hide from fire.”

—Lt. Jack White of Fire Station No. 6 in Tuscaloosa explaining why many children are scared not only of fires, but of firefighters. He honored the bravery of fourth grader Asia Hill who put into practice what she learned a year ago in school after a grease fire started in her home. The 11 year-old escaped safely with her grandmother, her two older sisters and a baby sister she personally carried out of the house.

Topics Legislation Excess Surplus