It's been a rough couple of months for our industry, to put itmildly. Spitzer's crusade, compounded by Maurice Greenberg'sresignation from AIG (to say nothing of the dismissals of AIG'sHoward Smith and Christian Milton), have all combined to seriouslytarnish the overall integrity quotient of the insuranceindustry.
As we move forward into “recovery,” it's best to remember thatinsureds only interact with their insurers on two occasions. Thefirst is when they take out a policy and must fork over a heftypremium; the second, when they have to make a claim.
As a result of all the recent developments, those insureds areincreasingly skeptical when making policy purchases. And forfirst-time buyers who have not yet established a rapport with anagent, suspicions reign supreme.
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