Fuel Economy or Safety? “More people may be looking at small pickups because of rising gas prices. Unfortunately, they won’t find many that afford state-of-the-art crash protection. Most earn dismal ratings for protecting people in side crashes, and all but …
Contingency Plans “The insurance marketplace has been distorted by the growth of contingent commissions coupled with a lack of transparency among most producers.” —Steve McGill, chairman and chief executive officer of Aon Risk Services, in testimony before New York regulators …
Buckle Up “There is an obvious correlation between safety belt use and the fatality rate.” —Illinois State Police Director Larry G. Trent comments on the announcement on July 15 that the number of motorists and front seat passengers who buckle …
Stepping Up and Out “The boards of directors of these companies are basically having to step up and be more anticipatory, and take steps to show their shareholders and show regulators that they mean business, and that they want to …
Picking Up Non-Renewals “I feel confident that the people on the Gulf Coast that have been canceled by State Farm will be able to buy insurance from Allstate and Nationwide and others that I have not announced.” —Mississippi Insurance Commissioner …
Reaching the Peak “This is probably it. … I think we’re probably reaching the peak of rates now.” —Louisiana Citizens Property Insurance Corp. CEO John Wortman, comments in an Associated Press report on double-digit homeowners rate increases proposed by Citizens …
Putting the Brakes on Teens “The impact of a teen crash extends beyond the emotional tragedies and physical injury at the crash scene, with costs that can extend to employers, families, the government and society overall.” —Jack Peet, community safety …
Asbestos Ruling “We hold that the Act cannot constitutionally be so applied and return the cases to the trial court for consistent proceedings.” —The Florida Fourth District Court of Appeal ruled, stating that the Florida Asbestos and Silica Compensation Fairness …
He’s No Devil “They say I’m the devil and I’ve been bought off. It’s absolutely not true.” —Oklahoma Rep. Ron Peterson, R-Broken Arrow, a former independent insurance agent, announcing he won’t run for his state representative’s post again. Peterson came …
Insurance Industry Move “Shortly after September 11, it became very clear to me that the federal government lacks the expertise it needs on insurance policy. Our experiences after Hurricane Katrina and the ongoing problems in the bond insurance marketplace have …
