Tornado Strike “The next thing you know, the TV says a tornado hit… It’s the baddest I’ve seen.” —Bob Pashko, of West Springfield, Massachusetts commenting on the tornadoes that ravaged the Bay State earlier this month, and caused at least …
Reinsurance News “Significant loss activity and major cat model changes since last year’s renewals have impacted each reinsurer’s capital position and view of adequate pricing differently. The good news is that the reinsurance sector remains fully solvent, fully liquid and …
Rebuilding Begins “I have been clear from the beginning: We will rebuild Joplin.” —Missouri Gov. Jay Nixon on June 1 announced the start of debris removal in Joplin, Mo., following the devastating tornado that hit the city on May 22, …
The Final Straw? “It’s only a large U.S. event that can turn things around. The U.S. is the biggest insurance market with the biggest exposures.” —Amit Kumar, an analyst at Macquarie in New York. The insurance industry took another multi-billion …
The Final Straw? “It’s only a large U.S. event that can turn things around. The U.S. is the biggest insurance market with the biggest exposures.” —Amit Kumar, an analyst at Macquarie in New York. The insurance industry took another multi-billion …
Compromise on Lawsuits “You can be assured that you can go to the courthouse and not face the prospect of ruination by pursuing a constitutional right.” —Texas trial attorney Mike Gallagher comments on a compromise bill that he helped negotiate …
A Bomb on Every Floor “It truly was like a bomb went off almost on every floor.” —Gary Pulsipher, chief executive at St. John’s Regional Medical Center in Joplin, Mo., describes the damage caused to the nine-story hospital that was …
Don’t Think About “It’s come down from grandparents, great grandparents, and they never bothered to insure it. I think the general public finds insurance complex, confusing, something they don’t want to think about.” —Larry Cox, a University of Mississippi professor, …
Violent, Widespread “I’ve never seen anything this violent and this widespread.” —Alabama Insurance Commissioner Jim Ridling. Insurance Capacity “This is why people have insurance. The industry has the capacity and it shouldn’t have an impact on rates unless we see …
A Long Recovery “It’s a long drawn out process. … Some places will recover faster than others.” —Arkansas Gov. Mike Beebe said recovery in Arkansas from flooding that has shut down parts of the state will be long term with …
