No Spiked Recovery
“This is my fourth cycle and it’s the first one that I’ve seen that is actually going the way this one is going.”
—Arthur J. Gallagher’s CEO J. Patrick Gallagher on how unusual today’s commercial insurance rate environment feels. Rates are continuing to firm but without a spiked recovery seen in past cycles. The current environment is much better for clients, he noted at the Sept. 5 Keefe Bruyette & Woods Conference in N.Y.
Lacking Clear Direction
“We still lack clear direction, and the flexibility promised us has not materialized.”
—Pennsylvania Insurance Commissioner Michael Consedine on how the federal government is failing to issue numerous regulations regarding operations of key components of the Affordable Care Act, like health insurance exchanges. He offered his remarks at a Sept. 12 Congressional hearing.
GEICO’s Safe Phone Zones
“We all want to let drivers know about the safe phone zones in Virginia.”
—Joe Thomas, GEICO’s regional vice president, on the insurer’s deal with the Virginia Dept. of Transportation to sponsor “safe phone zones” at 43 Interstate rest stops. They will provide rest areas where drivers can park and safely use their mobile phones.
Taking Care of 9/11 First Responders
“It marks an important step in the effort to provide needed treatment and care to 9/11 responders and survivors.”
—Dr. John Howard, administrator of WTC Health Program, on the government’s decision that 70,000 first responders to 9/11 attacks will get free monitoring and treatment for some 50 forms of cancer.
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