Declarations

September 17, 2018

Solar Game-changer

“Swiss Re is guaranteeing the volume That’s game-changing.”

— Richard Matsui, KWh’s CEO, has high hopes for an insurance-like policy that will guarantee the production from solar projects that GCL New Energy Holdings Ltd. is building in Oregon. KWh Analytics, a San Francisco-based risk-management software company, structured the coverage for the 50-megawatt solar portfolio, and Swiss Re AG is backing the insurance.

Now’s the Time

“The time to prepare for hurricanes and other disasters is now.”

— Virginia Insurance Commissioner Scott A. White is reminding Virginians to act now to protect their property from loss during this Atlantic hurricane season, which began on June 1 and runs through Nov. 30.

A Most Significant Event

“It was one of the most significant events that we’ve experienced in my history here ….”

— Manhattan, Kan., city manager Ron Fehr described flooding that inundated the town during Labor Day weekend, causing more than 300 people to be evacuated. Nearly 9 inches of rain fell from Sunday night into Monday.

Katrina Homes Lawsuit

“Essentially, Make It Right, was making a lot of promises to come back and fix the homes that they initially sold these people and have failed to do so.”

— Attorney Ron Austin said he plans to sue actor Brad Pitt’s Make It Right foundation over the degradation of homes it built in New Orleans’ Lower Ninth Ward following Hurricane Katrina. Residents have reported sicknesses, headaches and infrastructural issues associated with their Make It Right homes. Sagging porches, mildewing wood and leaky roofs are among the problems reported.

Arena Name Change

“This decision symbolizes our pledge to making a difference in communities, building our brand locally and nationally, and ultimately growing State Farm.”

— State Farm Chairman and CEO Michael Tipsord on the carrier’s decision to acquire the naming rights to the stadium of the Atlanta Hawks hockey team. The Associated Press reported State Farm allegedly paid about $200 million for the name change.

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Insurance Journal West September 17, 2018
September 17, 2018
Insurance Journal West Magazine

Surplus Lines: Wholesale & Specialty Insurance Association Annual (formerly NAPSLO Annual); Market: Energy