Declarations

An Increasing Problem

“This is increasingly becoming a problem on our lakes and waterways, and it was important that the Legislature step forward with a strong response.”

—Oklahoma Sen. Bill Brown, author of Senate Bill 902, which lowers the legal blood alcohol concentration limit for the offense of boating under the influence from 0.10 percent to 0.08 percent. The measure passed on the final day of the 2009 legislative session. “Operating watercraft under the influence of alcohol is just as dangerous as operating a car or truck, and there’s no reason the legal blood concentration limit should be any higher,” Brown said.

A Successful Model

“It is imperative that we preserve and build upon the successful model of our national state-based regulatory system. … The American people want more financial stability, not less. Reform proposals must ensure consumers have accountable and local regulators who can provide continued stability despite these challenging economic times. As a state regulator, my department works hard every day to make sure that insurers honor their promises to Louisiana policyholders.”

—Louisiana Insurance Commissioner Jim Donelon, who recently visited members of Congress to highlight the positives of the state-based insurance regulatory system. Donelon and other state insurance commissioners met with lawmakers in Washington considering regulatory reform to convey the message that the state-based insurance regulatory system has been a constant in an otherwise erratic economic climate.

Returning to Historical Strengths

“The best way to deliver long-term value to our shareholders is to return to our historical strengths as a U.S.-centric insurance company.”

—Ramani Ayer, CEO of Hartford Financial Services Group Inc. In a memo to employees, Ayer ended speculation that the company plans to sell its U.S. property/casualty and life businesses. After being approved to tap into $3.4 billion of federal bailout funds, the company announced it will hang on to those businesses. The Hartford has been struggling with the falling value of its investments, losing $1.21 billion in the first quarter, its third straight quarterly loss, and dropping $2.75 billion in 2008. In the memo, Ayer said the company “will move forward with both property and casualty and life businesses.”

Topics Legislation