Declarations
“Agents’ jobs have gotten harder, and a larger portion of agents are proactively shopping ahead for clients. Insurers that want to keep earning agents’ business are finding ways to partner with them every step of the way.”
— Commented Stephen Crewdson, senior director of insurance business intelligence at J.D. Power, in a statement regarding a new study that found overall agent satisfaction with personal and commercial lines insurers has held strong despite a challenging underwriting environment. Commercial lines satisfaction has reached an all-time high, according to the J.D. Power 2024 U.S. Independent Agent Satisfaction Study.
“In the years following the onset of the COVID-19 pandemic, there were important changes in the labor market as well as shifts in the availability of medical services. These changes were likely important drivers of the trends in total costs per claim in Delaware.”
— Said Ramona Tanabe, president and CEO of Workers Compensation Research Institute (WCRI), announcing new WCRI research showing the average cost of workers’ compensation claims in Delaware, for cases with more than seven days of lost work, went up by 3% per year between 2019 and 2022.
“I used to feel like those were agencies to protect people, but I don’t feel like that anymore. … They need to come forth and do the right thing. They know these chemicals just don’t go away.”
— Ohio resident Krissy Ferguson told the Associated Press she isn’t living in her home because of concerns over chemicals released when a Norfolk Southern train derailed in February 2023 and a toxic cloud spewed over East Palestine, Ohio. Area residents say the way the Environmental Protection Agency has reported its test results since the derailment makes it hard for residents to know the full extent of contamination.
“The high level of engagement shows that Louisianans recognize the need to build more resiliently, but it also underscores how much work lies ahead. … Whether registrants were selected, their decision to participate will demonstrate to the legislature that we need to continue supporting the Louisiana Fortify Homes Program.”
— Louisiana Insurance Commissioner Tim Temple said the number of grants has doubled for the latest round of the Louisiana Fortify Homes Program due to the high volume of registrants. The number of grants increased from 300 to 600 after nearly 12,000 homeowners signed up for the lottery. Grants of up to $10,000 are available to upgrade roofs to the Fortified standard.
“I didn’t know it was possible for a place like Asheville to get something like this. … I was born and raised here and have been here for 42 years. I’ve never seen anything like this.”
— Chad McKinney, co-owner and principal agent at McKinney Insurance Services just south of downtown Asheville, North Carolina, said of the catastrophic damage wrought by Hurricane Helene to his hometown. Asheville insurance agents and their policyholders have been stunned by the extent of Helene’s damage so far inland. The hurricane dumped 14 inches of rain on the picturesque community and flooded hundreds of homes and businesses.
“While well-intentioned, SB 1047 does not take into account whether an AI system is deployed in high-risk environments, involves critical decision-making or the use of sensitive data. … Instead, the bill applies stringent standards to even the most basic functions — so long as a large system deploys it. I do not believe this is the best approach to protecting the public from real threats posed by the technology.”
— California Gov. Gavin Newsom said in a statement about his veto of a bill aimed at establishing safety measures for large artificial intelligence models.