Wildfire Lessons “I’ll be very honest about it – we haven’t come up with anything different we could do.” —Fire Chief Garry Alderman, who heads the fire and rescue agency for wildfire-prone Horry County, South Carolina. He won’t alter his …
Hiring Hit “The more qualified the individual was the less interest they expressed in the Hartford top job.” —Bob MacDonald, former CEO of Allianz Life of North America and self-described financial services contrarian, criticizing the failure of the Hartford Financial …
Mud Flows After Fires “After the smoke has cleared from any wildfire, there is still the potential for catastrophic damage and losses to homes and neighborhoods when winter storms come. Most homeowners policies do not provide coverage for damage that …
Poorly Rated “It was disappointing not to hear the rating agencies offer more reflection on their failures.” —Illinois Insurance Commissioner Michael McRaith, addressing fellow state regulators during their annual September meeting. Commissioners and federal lawmakers say they want to rein …
No Government Handouts “Property/casualty insurers have not asked for government handouts, and our industry is stable and continuing to provide critical services to local economies and their communities.” —J. Douglas Robinson, chairman and chief executive officer of Utica, N.Y.-based Utica …
Cancellation Notice “The association’s leadership did not make the unprecedented decision to cancel this year’s Annual Convention and Young Agents Conference lightly. Like so many other West Virginia businesses of all sizes, our association’s membership and their ability to support …
20% The percentage of U.S. drivers who admit they have read or sent a text message while behind the wheel, even though nearly all of the respondents considered such action unacceptable, according to an AAA survey. $500 Million Georgia Insurance …
They Could Have Been Fixed “The people could have fixed their homes if they had money. But they (state officials) are so scared that somebody’s going to get a dime they shouldn’t have gotten, nobody gets anything for three years.” …
Real Stuff “When the bubble burst, however, those risky mortgages defaulted in record numbers and investors were left holding worthless securities, unable to sell them. Subsequently, the agencies downgraded the credit ratings of $1.9 trillion in residential mortgage backed securities, …
Stability on Main Street “Property/casualty insurers have not asked for government handouts, and our industry is stable and continuing to provide critical services to local economies and their communities.” —J. Douglas Robinson, CEO of Utica, N.Y.-based Utica National Insurance Group, …
