Declarations – South Central

A Broken System

“Our system is broken — it requires a major overhaul to ‘fix’ it. Reform efforts of the past have fallen short of their intended goal. I believe all options need to be considered, including the change to an administrative system and the allowance of opt-out products from the current system, if the employer believes that to be in his/her best interest.”

—Ed McGrath, chairman of the Independent Insurance Agents of Oklahoma. The group is taking a wait-and-see approach on the 31 workers’ compensation reform bills filed in the state Legislature.

Wants Money Back

“Lance Armstrong cheated to win all of his Tour De France victories. He has admitted as much on national TV.”

—Robert Hamman, SCA Promotions president and CEO. SCA paid out $12 million in bonuses to cyclist Lance Armstrong for his Tour de France victories in 2002, 2003 and 2004. Because Armstrong has since been stripped of all Tour de France titles due to his use of performance enhancing drugs, SCA wants its money back, with interest.

Terrorism Coverage

“TRIA and its successor programs have worked at little to no taxpayer expense and continue to make terrorism coverage widely available.”

—Leigh Ann Pusey, president and CEO of the American Insurance Association (AIA), which supports an extension of the Terrorism Risk Insurance Program Reauthorization Act of 2007 (TRIPRA). The Terrorism Risk Insurance Act (TRIA) was first passed in 2002.

Totally Confident

“I am totally confident … that we can readily find places for their policyholders with other companies looking for business in our homeowner’s market.”

—Louisiana Insurance Commissioner Jim Donelon comments on the decision by Farmers Insurance Exchange to drop 23,000 homeowner and 7,000 auto policies in his state. The company cited substantial losses as a major reason for pulling out of the homeowners market. It will retain more than 100,000 policies in Louisiana under three other brand names.