PC360 brings our readers the top quotes from major industryplayers for the week of April 30. Industry leaders comment ontopics ranging from a new multi-industry push for a National FloodInsurance Program extension, to the state of pricing in theindustry, to consumer shopping habits.

|

|

Allstate Chief Executive Officer Thomas J.Wilson explaining that the company's controversial agency-consolidation plan announced about a year ago–an effortto create larger, more-efficient agencies–does not necessarily meanthat the company is trying to rid itself of smaller agencies:

|

“[Allstate is] seeking to have all agents be more successful;[it's] not like we're trying to get rid of a certain class [ofagencies].”

|

|

J. Patrick Gallagher, chairman, president andchief executive officer of Arthur J. Gallagher, talking about thehigh amount of health-benefits business AJG is seeing due tothe new health-care law, as smaller benefits agencies are unable tokeep up with new compliance requirements:

|

“I've never seen such a selling environment. That business is onfire and continues to be.”

|

|

Matt Gannon, assistant vice president of federalaffairs for the National Association of Mutual Insurance Companies,discussing the upcoming “Flood the Hill” effort, which involves 13 tradegroups across multiple industries that will push for Senate passageof a National Flood Insurance Program extension starting May 7:

|

“Flood-insurance reform is closer to becoming law than it everhas been before. 'Flood the Hill' will hopefully get us over thegoal line.”

|

|

Daniel S. Glaser, group president and chiefoperating officer of Marsh & McLennan Companies, discussing thecurrent insurance-pricing environment:

|

“From a pricing standpoint, it's not a headwind, but I wouldn'tcall it a tailwind either. You have to look at what geographyyou're talking about and what line of business you're talkingabout. It's very segmented, and since we participate across all ofthose segments, its muted from our perspective.”

|

|

Jeremy Bowler, senior director of the globalinsurance practice at J.D. Power and Associates, noting decreased auto-insurance shopping among consumers despiteincreased insurer-advertising spending:

|

“The industry spent $5.7 billion on advertising and allowancesin 2011, but this increased spend does not appear to have generateda commensurate increase in market churn.”

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.