NU Online News Service, June 7, 2:20 p.m. EDT
NEW YORK—While one insurance executive says the current market cycle has been "very unique and different" because its bottom coincides with an economic downturn, another executive says the same human factors of "fear and greed" are driving insurers' behavior.
Speaking at the Standard & Poor's 2011 Insurance Conference Frederick H. Eppinger, president and CEO of The Hanover Insurance Group, mentioned the cycle's timing with respect to the economic downturn, and also said insurers have more insight into profitability today than they did during previous cycles. "Whether they use [the new information] or not is another story," he says, but he adds that people are smarter about profit today.
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