Declarations

Sudden Break-Up

“We will not be closing any offices or exiting any markets. While we regret these employees’ decision, our focus continues to be on our clients and ensuring that any transition is seamless.”

—CRC Insurance Services CEO Tom Curtin, commenting to Insurance Journal about the sudden exodus of roughly 100 employees from the wholesale broker’s offices in Pennsylvania, Illinois and California. At press time, it was not clear what agency, or agencies, the former CRC employees fled to.

Trigger Happy

“Homeowners deserve certainty in the coverage provided by their insurance policies. The storms we experienced in March demonstrated vast inconsistencies among carriers and policies with regard to the triggers and deductibles in claims related to storms.”

—Peter Resnick of the Professional Insurance Agents of New York, before a discussion with N.Y. lawmakers on problems with coastal homeowners insurance in the state. Trade groups for agents are urging lawmakers to standardize policy triggers for hurricane deductibles.

Assessing the Impact

“This has got all the characteristics of a Category 5 hurricane.”

—Wes Tunnell, coastal ecology and oil spill expert at Texas A&M University-Corpus Christi, commenting on the parallels between the expected damage and impact from the recent oil spill that has spewed millions of gallons of oil into the Gulf Coast area, and a major hurricane.

Land of the Hands-free

“Stop the nanny state.”

—Maryland House of Delegates Member Michael Smigiel (R-Cecil), criticizing recently passed legislation that would require drivers to use a hands-free device while talking on a mobile phone. The measure overwhelmingly passed. Smigiel was one of 14 who voted against it, arguing that the state interferes too much with residents’ lives.

Topics Legislation