There are only a few times in history when we have been witness to a true revolution, a moment when the old order is upturned and a new path is tread.
That is what has happened in Egypt. There have been uprisings before throughout that region, usually army generals rising against the current regime and taking power for themselves in the name of the people, but leaving the people powerless and forgotten.
If you listen carefully, you will hear a number of movements at play in the Mideast this week.
One is the rise of the average citizen, driven by youth, in both Tunis and Egypt, against oppressive dictatorships that have robbed people of their future.
The second is a bond that has been formed between the Army and the people in Egypt. In the past, generals led revolts, sweeping away the government and telling people how the government would be fixed. No one could hold them accountable, and the replacement turned out no better.
The people led the movement in Egypt and the Army appears to be listening. But as some have observed, it is still early in the process. The military, as one insurance broker put it, "might get comfortable" in its new place and not want to return to the barracks.
Third, the people are talking and taking ownership of their future, something missing from the past. No charismatic leader or group of demagogues rose up to control the formation of the government. This was, in the most basic of democratic processes, a grass roots movement.
Fourth, unique for the Middle East, what has happened in both Tunis and Egypt is free of religious zealousness. The people speak about their future and the desire to make a better life for themselves and their children. As has been pointed out on a number of times, this was a peaceful movement, except for the police and thugs trying to undermine the movement with violence.
Unlike the typical form of protest many in the West have come to expect, no one walked into the crowd with a suicide vest aiming to kill and maim scores of people in the name of martyrdom.
Watching the images that played out on television and the Internet, the most striking thing I see today is people standing around arguing and debating. They speak with passion. They speak loudly. They are occasionally boisterous. But they are speaking their minds, something pent-up within them for many for years, if not generations.
While my impressions of the region are coming through the filter of television and reporter's and pundit's accounts of what they see, I feel this is a moment to be savored. Not in a jingoistic way, but as a fan of the triumph of the human spirit over despots.
However, wary times remain in this region, and for the insurance industry, that means keeping a watchful eye now and in the future. The region appears to be in growing turmoil as the revolution spreads. That does not necessarily make for an atmosphere good for many businesses.
In interviews, brokers have said that while there may be claims, indications are that losses are minimal. There is still concern, however, that any new venture in Egypt, and probably elsewhere in the region, would run up against insurer's trepidations about writing risks in the Middle East in such an unstable time.
Caution is an underwriter's best friend, along with a dose of skepticism and understanding of the risk. Right now, probably the biggest liability underwriters face if asked to place a policy in the Mideast, is in understanding the political currents. After all, if the Central Intelligence Agency can't get it right, can insurers expect to do any better?
As this region roils, the one thing that property and casualty insurers cannot do is walk away from where democracy truly takes root. From a business perspective, in a free and democratic society, where capitalism is truly unleashed, the market potential can be enormous.
I would suggest, however, that there is another reason for insurers and brokers to remain active participants in the region. For those who promote the concept of giving back to their community, and are lucky enough to enjoy the benefits of democracy, it is incumbent upon them to help nurture a fledgling, freedom-loving society.
This should be done, not only because it is the right thing to do, but also because in a society whose history stretches back for centuries, memory can be long toward those who turn their back on the region.
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