Declarations – East

Hard Market? Hardly

“It is worth noting in our opinion that in our experience, some insurers that were announcing rate increases on renewal business, are continuing to price new business very aggressively.”

—Markel Corp. Co-President Michael Crowley, commenting on P/C commercial market conditions, during Markel’s May 10 earnings call.

More Than Book Smart

“Being smart about your money can be just as important as being book smart.”

—Ken Kobylowski, acting commissioner for N.J. Department of Banking and Insurance, in his speech last month highlighting financial literacy to students at Perth Amboy High School.

Times Are Changing

“Technology is changing everything. Think about how fast things have changed over the last 14 years.”

—Independent Insurance Agents and Brokers of America Chairman Mike Donohoe, on challenges that agencies face in a rapidly changing business environment. He made his comments at the Big “I” conference in April.

Waiting for Supreme Court’s Decision

“The very constitutionality of the Affordable Care Act is cloaked in uncertainty.”

—N.J. Gov. Chris Christie, on why he vetoed legislation that would have begun to establish an online, state-run health care exchange in line with the federal Affordable Care Act.