Declarations – East

A Checklist for Students

“While homeowners insurance coverage for some valuables does travel with the student, policies may limit coverage for a student’s off-premises belongings. It is important to learn your policy’s specific coverages.”

—Pennsylvania Insurance Commissioner Michael Consedine on the importance of checking insurance needs for college students as fall semester begins.

Booming Industry

“In 2009 when I started the captive bureau, we had 38 captive insurers. At the end of 2011 there were 338 captive risk bearing entities that generated nearly $1 billion of insurance premium.”

—Delaware Insurance Commissioner Karen Weldin Stewart on her state’s captive insurance industry. She said Delaware is now in the top five of U.S. captive domiciles and one of the top 15 in the world.

Volunteer or Employee?

“Here we go back to the basic legal definition of consideration. Consideration is a benefit conferred as an inducement to a commitment.”

—Carmine Taglialatella, a N.J. workers’ compensation judge, in his recent ruling that a thrift store volunteer cannot be considered as an employee. A 50 percent store discount for volunteers doesn’t qualify as sufficient financial consideration to meet the definition of employee, he ruled.

Alterra vs. NFL

“The controversy is of sufficient immediacy to justify the issuance of a declaratory judgment.”

—Alterra American Insurance in its Aug. 13 complaint filed with N.Y. Supreme Court. The insurer argues it is not obligated to defend or indemnify its insured — the National Football League and NFL Properties — against concussion-related lawsuits brought by ex-NFL players and their families. Alterra is one of scores of insurers in dispute with NFL.