Declarations

Opposed to Public Option

“The House passed a bill today that includes a government-run health insurance plan (public option) that would unfairly compete with the private insurance marketplace, limit consumer choice and increase the taxpayer burden.”

—Charles Symington, senior vice president of government affairs for the Independent Insurance Agents and Brokers of America, expressing the displeasure of IIABA leaders over the healthcare reform bill passed by the U.S. House of Representatives. The group is particularly opposed to the public option, but it also has trouble with the tax hikes, a requirement that small businesses offer insurance or pay a penalty, and a grant program to non-profits so they can provide health insurance counseling.

Encouraging Rate Trends

“Rate trends are encouraging across our portfolio. However, the recession has reduced exposures, putting downward pressure on premium volume.”

—Thomas F. Motamed, chairman and chief executive officer of CNA Financial Corp., explaining he was pleased with the performance of CNA’s specialty lines segment and will look to improve profitability in the standard lines segment. CNA Financial Corp.’s third quarter 2009 results included net operating income of $331 million and net income of $263 million along with a combined ratio for property/casualty operations of 101 percent.

Too Big

“We have to find a way of limiting firms from becoming too big to fail so they don’t capture the government.”

—Rep. Paul Kanjorski, chairman of the financial services subcommittee on capital markets, who said the government should have the authority to break up or reconstruct financial firms before they become “too big to fail.” He would introduce measure to prevent firms from becoming a threat to the wider economy.

Never a Good Thing

“It’s never a good thing when a fire department has to close up.”

—John Elstad, deputy fire marshal for central North Dakota. Small-town fire departments are closing across the Midwest, according to Lois Hartman, the retiring North Dakota Firefighters Association executive director. Merricourt, a town of less than five people about 50 miles south of Jamestown, is one of them. Blazes there now are fought by fire departments in Ellendale and Edgeley. Merricourt lost its fire department about three years ago because its fire chief retired and no one took over. The departments need more money and equipment and they have expansive service areas that continue to grow, Hartman said. These challenges result in longer response times, fewer volunteers and more areas at risk.