Suffering Is No Excuse For Denying Claims: Gen Re Exec
Although U.S. reinsurers are still recovering from the effects of business they wrote in the 1990s, the fact that theyre suffering does not give them a reason to delay the payment of claims, one reinsurance executive said recently.
Joseph Brandon, chief executive officer of General Re Corp., part of Omaha, Neb.-based Berkshire Hathaway Inc., offered an industry insider's view of the rough-and-tumble environment in the U.S. reinsurance market of the past few years during the Standard & Poors insurance conference last month.
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