Jay Fishman, chairman and CEO of Travelers, buys his homeowners insurance from a rival carrier! He said so during a speech in New York last week on catastrophe risk at NU's annual Executive Conference for the Property-Casualty Industry. Am I the only one who thinks that's a little weird?
As reported by our managing editor, Susanne Sclafane, Mr. Fishman revealed that he isn't covered by his own company while relating a personal story about the high cost of insurance for homeowners in Florida–using the example of a house owned by his now deceased mother-in-law.
Its not written by Travelers,” he noted. “I dont have insurance by Travelers from a conflict perspective. I just think that its not right for me to be insured by my own company.
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