Declarations

Frank Talk

“Once (Dodd-Frank) is fully implemented — I think it will be in another year — it is much harder for people to get rid of, because I think it will be popular. The easiest chance you get to strangle something is in the early stages.”

—U.S. Representative Barney Frank, countering speculation that his departure next year from Congress after serving 30 years will undermine the Wall Street reform law he sponsored.

Local Is Better

“I believe insurance is local and local regulation is preferable.”

—Arkansas Insurance Commissioner Jay Bradford, expressing disappointment that legislative opposition to an Arkansas-run health benefits exchange has quashed the state’s efforts to meet federal requirements for implementing its own exchange.

UnWise Florida Contract

“What I’m telling people is if you want to call yourself an independent agent, this particular contract challenges that.”

—Jeff Grady, president, Florida Insurance Association of Insurance Agents, on the agency contract being offered by Homeowners Choice on business it is assuming from HomeWise.

Odd Year

“It was another very odd year.”

—Dr. Jeff Masters, Weather Underground’s director of meteorology, assessing the 2011 hurricane season.

Write Your Own

“The National Flood Insurance Program write your own (WYO) insurance companies have been woefully slow in processing flood insurance claims. We need focused, intense and prompt follow up, not lollygagging-insurance-company-business-as-usual.”

—U.S. Senator Charles Schumer (D-N.Y.), urging New York’s flood insurance providers to speed up processing of claims from tropical storms Irene and Lee.

No Conclusion

“We are unable to conclude … Plaintiffs are clearly ‘likely’ to succeed on their assertion that Indiana’s tort claims damages caps violate the federal Constitution.”

—U.S. District Judge Sarah Evans Barker, certifying Indiana State Fair stage collapse victims as class in a challenge to the state’s $5 million cap on liability.

Topics USA