Reading the reminiscences of former Florida Insurance Commissioner Tom Gallagher's trials in the aftermath of Hurricane Andrew got me to thinking about what a hit the insurance industry took from that storm. I'm not talking about the financial hit, but the reputational hit.
In Chad Hemenway's exclusive story about Gallagher and other's experience that day and the days after, it is striking how Andrew epitomizes insurer's déjà vu reaction to catastrophe. They honor the claims, making the mandatory pronouncement about their sensitivity toward their client's fate and desire to make them whole.
What befuddled many an insurance customer is after a storm when some insurers leave them in the lurch as carriers abandon markets they find are no longer profitable in the aftermath of the disaster.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.