Former CNA Chief Financial Officer Robert Deutsch knows that if you rush in where angels fear to tread you better not be a fool. That is why the chief executive officer of the recently formed Ironshore Insurance Ltd. said that all of the most sophisticated catastrophe models in the world don't mean a thing without the true gut of an underwriter.
"The key obviously is in your risk selection," Mr. Deutsch said during a recent interview with National Underwriter. "The models can help supplement your task, but they are just one piece of the underwriting equation. They don't replace sound judgment."
Backed by $1 billion in capital and a brokerage sponsor--New York-based Integro Ltd.--the new Bermuda-based insurer has been formed to write U.S. property-catastrophe risk.
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