To say the past few years have been a challenge for mutualinsurers would be an understatement as they have dealt with analmost decade-long soft market, a prolonged economic downturn andrecord catastrophe claims in 2011.
"It's been a heck of a year," confesses Charles M. Chamness, thepresident and CEO of the National Association of Mutual InsuranceCos. (NAMIC).
As NAMIC gathers for its116th annual meeting in Indianapolis Sept. 18-21,Chamness says the combination of record winter storms, tornadoesand other extreme weather events this year have kept members busypaying claims. Add to that the onset of the hurricane season, andit has been a very trying year.
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