Although we're still getting cold temperatures and snow in Chicago, daylight saving time and the calendar say it's spring.

And boy, do we need spring in the insurance industry. Our winter is a long-standing soft market exacerbated by a feeble economy, shackled to high energy prices, a credit crunch and a sagging housing market that some observers don't see getting any better until 2009.
The hallmark of survivors in this or any economy is how they turn challenges into advantages. And for the insurance industry, there are lots of challenges.
According to a new study by Ernst & Young, the top 10 risks for insurance are climate change, demographic shifts in core markets, catastrophic events, emerging markets, regulatory intervention, channel distribution, integration of technology with operations and strategy, securities markets, legal risk and geopolitical or macroeconomic shocks.
All bad news for the industry, right? Maybe not. Climate change is presenting a big growth opportunity to insurers and producers with foresight and creativity. Alternative energy businesses, carbon credits and other emerging markets are all great opportunities for the insurance industry.
And demographic changes mean creative insurance people will target the baby boomer generation differently, while shifting gears to attract younger customers and employees. (For a fascinating discussion of how to tap into the needs of Generation Y, visit www.agentandbroker.com and listen to AAB columnist Tom Baker's podcast.)
When I first started writing about insurance agents and brokers, agents worried about expenses, insurer and customer relationships, and how to transcend commodity selling. Guess what? These are still the issues.
Since then, our industry has not just surmounted such challenges, but turned them into advantages. Witness the growth of captives, programs and technology. In the 20 years since I've been watching, you've survived soft and hard markets, banks selling insurance, direct-writing ducks and cavemen, Robert Hunter, Ralph Nader, catastrophes, scandals, stock market crashes, restrictive regulation and struggles with insurers. You'll survive this, too.
This “Emperor” has no pants
We're running the risk of belaboring the obvious at this point, but in other news, Eliot Spitzer's involvement as “Client 9″ in Emperor's Club VIP, a high-priced international Internet prostitution ring, resulted in the New York governor's forced resignation.
Although some observers are speculating that The Spitz's downfall may have been engineered by the Bush administration, Hank Greenberg or Lord Voldemort, the truth appears to be mundane–the antics of a politician whose common sense was outstripped by the size of his hubris.
The irony here is the dichotomy between Spitzer's public persona as a crusader for business ethics and his behind-locked-doors activities, possibly on the taxpayers' dime (his spending on prostitutes over the years has been estimated at a whopping $80,000).
The Feds are now probing into whether Spitzer tapped into his campaign funds to pay for his R&R–which could open the door for even more digging into his financial records and possible criminal charges. In short, the Spitzer story may have more media staying power than the ongoing saga of Britney Spears. Stay tuned!
Where's George?
For those who don't already know, George Williams, American Agent & Broker's venerable editor, has permanently left the building after more than 26 years on the job. His retirement plans are to literally go fishing and spend a lot more time with his grandchildren. We wish him well in those ventures and envy his newfound leisure time (although the bets are in on how long it will be before he gets antsy and offers to write a column for us).
George and I first met back in the '80s, when we were both covering agent conventions–George as the editor of AAB, and I as a reporter on the agent/broker beat at Business Insurance. Over the years I've freelanced for brokers and insurers, specialized in public relations for a national insurance trade association, helmed the Midwest edition of another insurance publication and worked for the corporate communications division of a global insurer. George, meanwhile, stayed the course as editor of AAB, molding the magazine into the unique, recognized and respected brand it is today, known for its in-depth coverage of issues concerning the daily operations of insurance producers.
My job as the new editor of AAB is to build on this foundation to help bring George's baby into the future, focusing on fresh viewpoints, expanded coverage and a bigger presence in the field and especially on the Web.
With that in mind, we've launched what I hope will be our first annual reader survey, specifically focused on our editorial content. So far, almost 200 readers from 23 states have weighed in on all things AAB, including our regular columnists, most popular insurance issues, our Web site content and what industry events they regularly attend. Our goal is to determine what works and what doesn't, so we can provide you with the information you need, when and where you need it.
If you haven't already responded to the survey, please do. Or you can drop me an e-mail or give me a call-to voice your opinion on the magazine, sound off on a current issue or just say hello. George may have moved on, but his commitment to providing you with the most useful publication in the business remains.

Special Reports /

What's Going On: Soft market, weak economy? We will survive

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