Earthquake in New Jersey “It felt like the whole room was shaking around us, and a loud explosion afterward.” —Bernardsville, N.J. police Sgt. John Remian, commenting on a minor earthquake last month that rattled homes in several areas of Somerset …
Scrubbing ‘Gotcha’ Clauses “Our goal is to scrub ‘gotcha’ clauses out of insurance contracts before they’re sold to Michigan consumers.” —Michigan Office of Financial and Insurance Regulation Commissioner Ken Ross is requiring insurance companies to submit to OFIR all new …
Tallahassee Kaleidoscope “It’s like a kaleidoscope. You think you see (the solution) one minute and the next minute it’s different.” —Rep. Bill Proctor, a St. Augustine Republican, speaking on the state’s troubled property insurance marketplace. Proctor is again sponsoring legislation …
No Truth to the Matter “This statement could not be further from the truth.” —Arkansas Insurance Commissioner Jay Bradford took issue with a company identifying itself as a nationwide provider of innovative and affordable health insurance solutions and suspended the …
Failed to Operate “The current system for assessing, determining, and applying windstorm mitigation discounts has failed to operate as intended and has contributed to problems in the residential property insurance marketplace.” —Florida’s Commission on Hurricane Loss Projection Methodology in its …
Community Fixture “He’s sort of a fixture for our community. I wish there were more like him.” —Hal Reese, a Calhoun City insurance agent who’s known Mississippi Judge Henry Lackey since childhood. Outside Mississippi’s 3rd Judicial District, Henry Lackey is …
Little Property Coverage “Haiti is the poorest country in the Western Hemisphere and poor countries tend to purchase very little property insurance coverage. The fact that there is very little information about Haiti’s private insurance market suggests that the market …
Frozen Florida “The reports we are getting tell us there is frozen fruit as well as twig and leaf damage out there now it may be days or weeks until we figure out whether there is long-term tree damage. All …
No Role in Non-Disclosure “We had no effective legal means to step in and prevent default (at AIG) … without helping this firm meet all its legal obligations.” —U.S. Treasury Secretary Timothy Geithner saying the bailout of insurer AIG was …
No Warren Buffett “The heart and soul of what insurance companies should be is underwriting companies. I mean, I tell people there’s only one Warren Buffett, and I’m not him.” —Fred Eppinger, CEO of Worcester, Mass.-based The Hanover Insurance Group, …
