Oklahoma Schools Destroyed by Tornado Lacked ‘Safe Rooms’
Connecticut Court Rules That Lawyers Can’t Be Sued for Fraud
Wage and Hour Claims Among Top Threats to U.S. Employers
Cyber Attacks On Banks More Serious Than Public Realizes
E&O Insights: Restaurant and Tavern Risks
CEA’s First CIO Reflects C-Suite Trend
Golf and Country Clubs Weather the Storm
Midwest AGs Go After Storm-Chasing Roofing CompaniesFree Newsletters
Sign up to receive insurance news alerts!Most Popular
Current Issue
Editors and Contributors
-
Andrea WellsAgency Compensation Playbook: 2013 Agency Salary Survey -
Andrew G. SimpsonHow Process Improvement Drives Agency Profitability -
Stephanie JonesThe Acquisition Cycle -
Don JerglerIndustry Predictions -
Chris BurandReasonable Compensation -
Andrea WellsPersonal Lines: How Technology is Changing the Way Agents Do Business
Isn’t this a typical federal action ? Fines should go to those who were harmed rather than to the feds who will spend the money elsewhere.
I don’t see why it’s unreasonable for the federal government to get 20% of the fines. The government has a deficit in part because it has bailed out and subsidized flood premiums for storm-prone states like Florida for years and because it also incurred costs pursuing BP and the clean-up in the aftermath of the BP spill. While the Gulf State suffered from the oil spill, they were not alone in forcing BP to pay up.
You are mixing in a completely different issue with the flood insurance. The flood program also paid losses in midlantic and eastern states too. The solution to the NFP issue you raise is to fix the NFP.
It is the job of the federal government to force BP to pay up. It’s not something gulf states should pay for as if the fed is some collection agent. If the gulf states get what they deserve from BP, they will get back in business and everyone benefits including increased tax revenues…to the fed.
Mary, you won’t get much agreement on this. But you’re not completely off base. When it’s convenient, people will chastise the Fed. Gov’t for getting involved and in other situations, those same people will wonder why the Fed. Gov’t hasn’t come to the rescue.
What a whinner. Every time we vote for some specific funding, the yahoo politicians adulterate it and use the $$ for whatever they want. Tough pucky senator.
Considering the Coast Guard had to respond and was such a leading factor in the clean up, it’s only right that 20% goes to offset that costs…. let the oil companies pool THEIR money into a fund to cover such costs in the future… oh, that’s right, republicans don’t think the oil industry should spend their money on anything other than buying their votes……oil companies lie, and republicans apologize to them… go figure!