Declarations
“Despite recently favorable statutory underwriting results, the softer pricing of the past couple of years could ultimately dampen the financial performance of D&O insurers because the premium base to support future claims activity has diminished, even as risks are emerging and expanding.”
— AM Best commentary warning that recent softer pricing for directors and officers coverage could begin to affect insurers’ underwriting results. Renewal premiums for monoline D&O liability continued to fall during the first three months of 2025, particularly for companies involved in initial public offerings, special purpose acquisition companies, and de-SPAC companies.
“The notion that big government is going to be in anybody’s medicine box is not something that I think is reflective of where most Americans are at.”
— Joe Shields, managing director of Transparency-Rx, in response to Florida insurance regulators asking companies to hand over extensive amounts of data on people’s pharmacy claims, including personal information and prescription drug usage. The unusual move is raising privacy concerns.
“Con artists are evil and will stop at nothing to steal everything you have. We already know that they target older Iowans, but now it seems that they even hunt through obituaries to target widows. They convince these older women that they need help and then send their victims to crypto ATMs. And the crypto ATM companies take a cut of the profits. It’s not just wrong, it’s illegal. I’m fighting to get Iowans their money back and force the crypto ATM companies to make big changes.”
— Iowa Attorney General Brenna Bird commenting on recent lawsuits the state filed against Bitcoin Depot and CoinFlip, Iowa’s two largest cryptocurrency ATM operators.
“This type of crop insurance program is unique in that it was a bipartisan effort that originated in Delaware to help protect Delaware producers and our agriculture industry. This program is based upon a farmer’s choices in their risk management strategy and helping them select the right insurance plan for protecting their revenue.”
— Delaware Secretary of Agriculture Don Clifton explaining the state’s new insurance program, which promises to reduce premiums for 2025 crop insurance plans for producers who had an eligible plan in 2024.
“The beekeeping industry has been warning for almost 20 years that we’re going to pass a point of no return at some point. Bees are the backbone of agriculture. All things that make food delicious and nutritious come from honeybees.
— Blake Shook, a Texas beekeeper who co-founded a business that supports others in the bee business, noting the impact of the high number of bee deaths over the past year. Shook said the decrease in bees could impact the price of fruits, vegetables and other foods that rely on bee pollination for growth. Texas is one of the nation’s top beekeeping states.
“We have confidence in the fund.”
— Edison International CEO Pedro Pizarro speaking on the California Wildfire Fund, which allows the state’s utilities to recover some wildfire-related claims payments. The $21 billion fund has been largely untapped by investor-owned utilities like Southern California Edison and may shield Edison International’s balance sheet if equipment owned by the company’s electric utility is found to have caused a deadly Los Angeles fire in January.