Thumbs Up For FIO Leader “As Director of the FIO, it will be vitally important for [Michael McRaith] to bring this expertise to bear in helping assure that the U.S. and global insurance regulatory systems are both effective and efficient …
Dangerous Dams “Failure of one of these dams could result in loss of life or significant property damage.” —Peter Richardson, senior vice president of the Boston Society for Civil Engineers, commenting on legislation that would require Massachusetts to identify all …
Condo Concerns “I just want someone to shore up this place, so I don’t have to worry about my walls falling in on me.” —Tina Hehman, who is one of a group of condominium owners in northern Kentucky hoping Campbell …
Moved Over a Line “This is going to be a capital event, as well as an earnings event. We’ve moved over a line now. Before we were exhausting the natural catastrophe budget. Now we are probably going to encounter negative …
All About Money “It’s all about money; that’s all it is.” —John Gillooly, attorney for a Detroit-area youth football league after a court reinstated a lawsuit against the league by an injured cheerleader. The Michigan Court of Appeals reversed a …
Flood Insurance Reform “There is no question that the program is in dire need of reform. For many years, the NFIP has been — for lack of a better phrase — under water. In the near-term, important reforms to the …
Soft Ending “For commercial lines, what we’re seeing is we’re still seeing declines in premiums year-over-year, but what we’re looking at is a point and a half whereas a year ago we might have been seeing nine, 10 percent decline …
Many Insurers, Inadequate Prices “The urgings of Wall Street, pressures from the agency force and brokers, or simply a refusal by a testosterone-driven CEO to accept shrinking volumes has led too many insurers to write business at inadequate prices. ‘The …
Many Insurers, Inadequate Prices “The urgings of Wall Street, pressures from the agency force and brokers, or simply a refusal by a testosterone-driven CEO to accept shrinking volumes has led too many insurers to write business at inadequate prices. ‘The …
Heavy Rain “It was fast and furious, so that’s why people got slammed. The water came gushing. It’s the worst (flood) I’ve seen.” —Patricia Murphy, mayor of New Milford, Connecticut, where state officials had to haul a temporary bridge to …
