Quotes from the Insurance Industry's Annual Executive Conference:
"The only country where we can't set our prices is the U.S.," said Liberty Mutual Chief Executive Ted Kelly. "This is the only country that won't let the market work. We get better return on capital in Venezuela."
"Air-conditioning made Florida, and now insurance could be its downfall," said Safeco Chief Executive Michael McGavick. The lack of control over pricing compelled McGavick to pull Safeco out of Florida. He deems Florida too expensive to insure without higher rates.