Declarations

Flood Watch

“It is alarming that the NFIP (National Flood Insurance Program) was allowed to expire, causing so much confusion and potentially leaving desperate homeowners and small businesses unprotected for more than two weeks. The Big ‘I’ is greatly concerned that these short expiration periods, coupled with the uncertainty of temporary extensions, will negatively impact the market.”

—Robert Rusbuldt, president and CEO of The Independent Insurance Agents & Brokers of America, noting that his association is concerned that Congress extended the program for a brief period again. Congress failed to extend the NFIP before leaving for recess in March, resulting in the program’s expiration on March 28. This was the second lapse in flood insurance coverage this year. The NFIP also expired on Feb. 28, 2010, but Congress did not reauthorize the program until March 2.(Reuters)

Toyota’s Tactics

“Toyota takes its legal obligations seriously and strives to maintain the highest professional and ethical standards, in connection with litigation and otherwise. We are confident we have acted appropriately with respect to product liability litigation.”

—The automaker disputes statements by Rep. Edolphus Towns of New York, chairman of the House Oversight and Government Reform Committee, accusing the company of deception. The results of an Associated Press investigation indicated that Toyota has routinely engaged in questionable, evasive and deceptive legal tactics when sued, frequently claiming it does not have information it is required to turn over and sometimes even ignoring court orders to produce key documents. Toyota, however, said it plays by the rules when defending itself.(AP)