Declarations

Shopping Date

“We don’t have a specific date set for that at this time.”

—Florida Gov. Rick Scott’s press secretary when asked if and when the state planned to restore an insurance department Web site that gave consumers an online tool to compare costs for homeowners insurance. The Web site was quietly taken down this spring.

Cybermedicine

“In many ways cybersecurity is similar to 19th century medicine – a growing field dealing with real threats with lots of self-taught practitioners only some of whom know what they are doing.”

—A Center for Strategic & International Studies white paper.

Captives in Tennessee

“Participation in a captive can be effective risk management for virtually any company.”

—Burr & Forman, LLP, partner Kevin M. Doherty, who helped draft Tennessee’s new captive insurance bill that was signed into law last month by Gov. Bill Haslam.

Worse to Come

“While there were some positive developments that bode well, there have also been some negative developments that suggest insurers’ results will get worse.”

—Michael R. Murray, ISO’s assistant vice president for financial analysis, commenting on Q1 underwriting losses for p/c insurers and suggesting more losses are likely in Q2.

Shelby on Flood

“We know that most people that need flood insurance do not have it. We must explore ways to change that. We can have the best flood insurance program in the world, but it will do little good if people do not participate. Although the flood program expires in a few months, I am confident that the Committee can successfully work together to, once again, pass bipartisan legislation.”

—U.S. Senator Richard Shelby, R.-Ala., ranking Republican on the Senate Committee on Banking, Housing and Urban Affairs, speaking on flood insurance legislation.