Declarations
Extended Stay “I’ve talked to the board and said that if I stay healthy — and I’m still hopeful — I would like to stay on for another year.” —AIG CEO Robert Benmosche on his plan to extend his stay …
Declarations
No Single Answer “Distracted driving is a serious problem and in our increasingly mobile world, it is becoming the norm. As we have seen with other motor safety issues such as seatbelt use and drunk driving, there is no single …
Declarations
Frank Talk “Once (Dodd-Frank) is fully implemented — I think it will be in another year — it is much harder for people to get rid of, because I think it will be popular. The easiest chance you get to …
Declarations
Political Pressure “I’m the first to acknowledge that it is time for us to contract and there is political pressure for us to contract.” —Carlos Lacasa, chairman of Florida’s Citizens Property Insurance Corp. and a former state legislator from Miami. …
Declarations
No Flood Lapse “We are pleased that Congress was able to avert another lapse in the flood program.” —Tom Litjen, vice president of federal government relations for Property Casualty Insurers Association of America (PCI), following Congress’ approval of yet another …
Declarations
China “If China opens the market, I don’t expect to see a big impact in the short term. It takes time for foreign insurers to steal market share from big players like PICC or Ping An.” —Zeng Sufen, an analyst …
Declarations
Massachusetts Models “Untested and unsupported forecast models should not be used to justify rates that are excessive. Hurricane models have a significant impact on the premiums paid by all Massachusetts homeowners who could have paid millions in excessive rates as …
Declarations
A Rebounding Market “This reduction in market share of Citizens is a great indicator that the homeowners insurance market as well as the commercial property insurance market in Louisiana is rebounding from the severe hit we suffered as a result …
Declarations
Cash Problem “This has become a big problem that we can no longer ignore.” —Ashley Mayer, from Florida’s insurance consumer advocate’s office, telling lawmakers that the use of check cashing companies to facilitate fraud in the construction industry has become …
Declarations
Overblown Uncertainty “Greece has the economy of somewhere like Alabama. I think the high degree of uncertainty coming out of Europe is overblown.” —Insurance Information Institute President and Chief Economist Robert Hartwig. During his talk at the annual Professional Liability …
