Declarations

Trending Higher

“If economic pressures dampen pricing, or if catastrophes result in escalating losses owing to inflation, or if more dangerous strains of COVID-19 emerge, the combined ratio may trend higher.”

— Michelle Baurkot, director at AM Best, said in a statement, following the release of Best’s Market Segment Report, “P/C Industry Maintains Solid Capital Despite Increased Challenges in 2021,” which noted that factors such as catastrophe activity, secondary perils, increased loss costs, and more normalized losses in auto insurance will likely result in an industry combined ratio of 101.8 in 2021 compared to 98.8 in 2020.

California Department of Insurance

“The Department of Insurance has failed us in many ways over the past three years.”

— Assemblyman Marc Levine (D-Marin County) introduced a legislative package designed to restore ethics and transparency to a state agency that he said has been plagued by scandal.

Big Tech Under Fire

“This is yet another example of Big Tech’s deceitful business practices and it must stop.”

— Texas Attorney General Kevin Paxton, in a lawsuit against Facebook parent Meta, claims the company unlawfully collected biometric data on Texans for commercial purposes, without their informed consent. Paxton filed the lawsuit Feb. 14 in a state district court claiming Meta has been “storing millions of biometric identifiers” — identified as retina or iris scans, voice prints, or a record of hand and face geometry — contained in photos and videos people upload to its services, including Facebook and Instagram. Paxton earlier launched an investigation of Twitter over its ban of former President Donald Trump and filed several lawsuits against Google.

Flint Contractors On Trial

“The problems in Flint were not caused by the alleged failures of outside engineers.”

— Attorneys defending engineering contractors from Veolia North America and Lockwood, Andrews & Newman say the engineers were not responsible for lead-contaminated water in Flint, Michigan. A trial will determine if contractors bear liability for the lead-contaminated water crisis, which resulted in a $626 million settlement between Flint residents and the state of Michigan, Flint and two other parties. Corrosive water caused lead to leach from service lines serving homes, a disastrous result in the majority Black community.

Driver’s License Debate

“All the fears and the arguments and the objections have fallen short.”

— Rep. Carlos Gonzalez, a Springfield, Massachusetts, Democrat and son of immigrants, said of legislation approved by the Massachusetts House that would let immigrants in the country illegally obtain state driver’s licenses. The legislation was approved on a 120-36 vote, and if passed into law, Massachusetts would join 16 other states and the District of Columbia, which already have similar laws. Critics of the measure have argued that driver’s licenses are a privilege that should not be offered to those not in the country legally.

Surplus Lines in Florida

“This is going to provide an avenue for carriers in the state to open up a separate book of business, which is great, considering the state of the marketplace.”

— Hillary Cassel, an attorney with the Florida Policyholders Cooperative, said about the passage of House Bill 951, which would, for the first time, allow Florida-based surplus lines insurers to sell surplus policies in Florida.

Topics Florida Massachusetts