Declarations

Diminishing Choices

“At a time when insurance rates have stabilized and at a time of economic uncertainty for many people, this bill would have further diminished affordable choices for Floridians and would have eventually dumped more policies into the state-run insurance program Citizens.”

—Florida Property and Casualty Association of domestic insurers applauding Gov. Charlie Crist’s veto of a bill (HB 1171) that would have deregulated rates for large, well-capitalized property insurers but not smaller domestic carriers.

No Txt at WhlTITLE

“This msg 2 u was composed while I was behind my desk, not behind the wheel. Hope u r not driving now.”

—North Carolina Gov. Beverly Perdue’s office announcing in a text message that her state has become the fourteenth state to pass a ban on texting while driving. The ban takes effect Dec. 1.

Holding Tight

“Most customers would prefer to hold tight to their current provider, which they already know, rather than risk trying a new provider, particularly amid negative coverage surrounding a number of insurance providers recently.”

—Jeremy Bowler, of the insurance practice at J.D. Power and Associates, on his firm’s study showing that fewer insurance customers are shopping for another insurance provider —28 percent, compared to 36 percent in 2008. Across the industry, 90 percent of auto insurance customers are staying with their current provider, according to the J.D. Power and Associates 2009 Insurance Shopping Study.

Accidental Revenue

“Car accidents should not be a revenue opportunity. Local government budgets will no longer be balanced on the backs of automobile accident victims.”

—William Stander, regional manager for the Property Casualty Insurers Association of America, after Florida Gov. Charlie Crist signed into law legislation (SB 2282) blocking local governments from billing motorists so-called “crash taxes” for emergency response services at the scene of an automobile accident. The law will become effective on July 1.

Shifting Sands

“This is shifting the cost of insurance coverage from coastal residents to the remainder of the state.”

—David Marlett, chairman of Appalachian State University’s Department of Finance, Banking, and Insurance, commenting on legislation (HB 1305) to address the funding shortfall of the North Carolina Beach Plan. The bill would cap insurers’ liability at $1.2 billion and allow insurance premiums to rise by up 10 percent on every residential and commercial property to pay the Beach Plan’s claims after a massive hurricane or tough storm season.