Declarations

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A Lot to Be Proud of

“We have a lot to be proud of as an industry in the way we performed in 2011. We weathered the financial storm that came together both in terms of the economy and the extraordinary loss year.”

鈥擫ori Dickerson Fouch茅, CEO of Fireman’s Fund, speaking at the Insurance Information Institute’s Property/Casualty Joint Industry Forum, held in New York on Jan. 10. She was among the CEO panelists who spoke about the challenges the insurers faced in 2011.

No Duplicate Paperwork

“The law is clear that FIO must first seek any information it needs from a public source or from another regulator, including the states. Only if the information is unavailable from either of those sources does FIO then directly ask an insurer for information.”

鈥擬ichael McRaith, director of the Federal Insurance Office, speaking at the I.I.I. Property/Casualty Joint Industry Forum. He tried to allay concerns that his office might duplicate state regulations or increase the paperwork burden on the insurers.

Testing for Radon

“Radon is present at elevated levels in about one of every five homes in Connecticut.”

鈥擠r. Jewel Mullen, commissioner at the Connecticut Department of Public Health, on the dangers of radon. Radon is responsible for more than 21,000 lung cancer deaths each year in the country. Dr. Mullen said all Connecticut homes should be tested for radon.

‘Broken No-Fault System’

“The no-fault system is being exploited and responsible citizens are the victims. Without the support of lawmakers, incidents of fraud will continue to increase. We need to work together to fix the broken no-fault system.”

鈥擪rista Conte, spokesperson for Allstate’s New York office, on the need to change the state’s no-fault system. Allstate and other insurers are pushing for a comprehensive reform of the no-fault system in New York State.

Topics New York Connecticut

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