Declarations

Declarations

Drive efficiencies

“This will result in greater transparency in the rate-making process, increased price competition and lower premiums for employers
because it will drive carriers to achieve greater efficiency. Fostering competition will also make the state more attractive to new insurers.”

— New York State Insurance Superintendent Eric Dinallo in recommending that workers’ compensation rates in the state should be determined by more competition among insurance carriers, instead of through the industry’s Compensation Insurance Rating Board (CIRB).

Individual insurers’ rates would still need state approval under his plan.

Mass. draft

“Unfortunately, the proposed regulations focus more on the word ‘managed’ than they do on the word ‘competition.’ Nevertheless, the
proposal represents progress. Rome wasn’t built in a day and reforming 30 years of over-regulation to bring more choices to Massachusetts consumers in auto insurance will not come overnight.”

— Frank O’Brien, vice president and regional manager for the Property Casualty Insurers Association of America, commenting on

Mass. Insurance Commissioner Nonnie Burnes’ initial draft of rules for deregulating auto insurance.

N.H. civil veto

“Injured victims should be compensated fairly, but not at the disproportionate expense of those bearing relatively minor fault.”

— The New Hampshire Gov. John Lynch upon vetoing a bill that would have restructured the way damages are decided in a civil lawsuit.

The House voted 254-65 to sustain the civil lawsuit bill veto.

No stay in R.I.

“The court believes that permitting an end run around the regulatory process, reducing the amount of the agreed penalty and withholding
from eligible policy-holders approximately $7 million, does not serve the public interest.”

— Rhode Island Superior Court Judge Michael Silverstein in denying an injunction that would have stalled workers’ compensation insurer

Beacon Mutual Insurance Co. from starting to comply with a consent order that calls for $2.5 million in fines and policyholder refunds of $7
million for years of mismanagement and questionable business and political dealings.

Charges dismissed

“We could not meet our burden of proof.”

— Mercer County Assistant Prosecutor Skylar Weissman after a New Jersey judge dismissed aggravated hazing charges against two Rider University officials in a case involving the drinking death of a fraternity pledge. The case was being watched by university officials around the country who were concerned about their own potential liability.

Topics Legislation