‘Growth Opportunity’
“We view homeowners as a growth opportunity. … There’s just a few competitors out there that are wanting to write new business, and we want to take advantage of that opportunity. We feel good about where our pricing is.”
— Mario Rizzo, president of Allstate’s property-liability business, said during an earnings call. While Allstate sees opportunity in the homeowners market, the insurer won’t be looking for market share in Florida and California and will “continue to manage PML (probable maximum loss) and coastal exposure,” Rizzo said.
Jaywalking in the City
“Let’s be real, every New Yorker jaywalks. People are simply trying to get where they need to go. … Laws that penalize common behaviors for everyday movement shouldn’t exist, especially when they unfairly impact communities of color.”
— Council Member Mercedes Narcisse, a Brooklyn Democrat, said regarding a new law in New York City that permits pedestrians to cross a roadway at any point, including outside of a crosswalk. Narcisse noted that more than 90% of the jaywalking tickets issued last year went to Black and Latino people.
Pure Prairie Closure
“We know that our difficulties are causing real hardship for our growers and for others. … And for that we apologize without reservation.”
— Jon Austin, a spokesperson for Minnesota-based organic broiler chicken producer Pure Prairie, said in an email about the impact the company’s bankruptcy filing is having on farmers in Iowa, Minnesota and Wisconsin who are scrambling to feed their flocks after the struggling organic broiler chicken producer abruptly closed. Pure Prairie had provided farmers with chicks and feed to raise until the birds were ready to be prepared for sale.
Flood Insurance Woes
“This report confirms what Louisiana homeowners already know — the National Flood Insurance Program is broken. … This report clearly lays out why flood insurance premiums are out of control, but also why there is reason to hope.”
— Louisiana Senator Bill Cassidy said after releasing a report on the National Flood Insurance Program’s adoption of Risk Rating 2.0 that shows the average flood insurance cost rose in every state after Risk Rating 2.0 went into effect in October 2021. NFIP premiums in Louisiana have increased by 234% over the last three years, the report found.
Elegance of Cash
“There is an elegance to cash that allows individuals in these types of circumstances to resolve their unique needs, which are sure to be very different from the needs of their neighbors.”
— Said Laura Keen, a senior program manager at GiveDirectly, a disaster aid non-profit that is sending cash payments of $1,000 to some hurricane-impacted households in North Carolina and Florida. Keen said getting money into people’s hands fast can protect them from predatory lending and curb credit card debt. The organization uses a Google-developed artificial intelligence tool to identify areas with the most need.
Plastic Pollution Lawsuit
“Coke and Pepsi need to stop the deception and take responsibility for the plastic pollution problems your products are causing.”
— Los Angeles County Board of Supervisors Chair Lindsey Horvath said in a statement regarding the county’s lawsuit against beverage makers PepsiCo and Coca-Cola, accusing them of polluting the most populous U.S. county with plastic bottles and misleading the public about the environmental impact and recyclability of their containers. The suit seeks to require Pepsi and Coca-Cola to pay penalties for engaging in unfair and deceptive business practices.
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