Having Agents On Board
To The Editor:
Regarding your May 12 editorial comment ("Who's Watching The Board?" on page 40), ignorance in insurance company boardrooms as outlined by Massachusetts regulators was most interesting, especially in view of CALPERS' fuss last year about an alleged conflict of interest presented by having agents on the board of Cincinnati Insurance Company.
Atlantic Mutual began a practice some years ago of having an agent serve a one-year term on their board of directors, specifically to bring the agents' perspective to the other members of the board. I was privileged to serve in that capacity for one year and (I was told) the members learned a great deal about how the company's products were distributed.
I couldn't agree more with Massachusetts Insurance Commissioner Julianne Bowler and less with CALPERS.
Philip Lieberman, CPCU, CLU
Lieberman Consulting Services
Caldwell, N.J.
Reproduced from National Underwriter Property & Casualty/Risk & Benefits Management Edition, June 30, 2003. Copyright 2003 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.
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