The next challenge for this business could come from just about anywhere, but property-casualty insurers will respond to it and adapt just as the industry always has, NAPSLO's newest board member confidently predicts.
David Leonard, who was recently named by the National Association of Professional Surplus Lines Offices Ltd. to fill an open spot on its board of directors, has seen industry challenges come and go during the course of his 29-year career.
"We thought the millennium bug was going to be a big problem. Then we faced addressing terrorism exposures, and then [Hurricanes] Katrina and Rita showed us what the real cost of catastrophes can be. But the industry has responded to each challenge–given just a little time to let their imagination and technical ability work, and [for] capital to recover," he said.
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