While it is rare for the property-casualty insurance industry tomount a united front on almost any controversy, conflict within thebusiness was particularly harsh this year on a number of majorpublic policy debates.Lets start with the split over a long-termresponse to catastrophe threats.
After back-to-back years of record hurricane losses, Allstatehelped launch a high-profile campaign--ProtectingAmerica.org--withthe goal of establishing a national safety net of some sort.
"There's a lot more agreement within the industry than peoplethink," according to Tom Wilson, president and chief operatingofficer of Allstate Corp. He cited consensus on the need forimproved building codes that are vigorously enforced, as well as anend to rate suppression so that the price of insurance accuratelyreflects the risk being taken.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
