What hasn't changed is our mission–to keep buyers, sellers and intermediaries on top of the news and trends shaping their markets and professions, while putting developments into context with commentary such as this.

Also unshakable are NU's two most important assets–our editorial independence and integrity. We still call 'em as we see 'em. If we dont tell you the truth–good and bad–who will?

However, as I celebrate my silver anniversary at NU, I readily acknowledge that the industry we cover has certainly changed considerably–mostly for the better.

When I started here, insurance was a pretty sleepy business. Agents sold policies and little else. Insurer and reinsurer product lines were relatively limited and uncomplicated. Risk managers, if they were called that at all, were really just commercial insurance buyers–more often than not wholly dependent on their brokers to make the right choices for their coverage needs.

But that moribund industry was roused over the years by a series of harsh wakeup calls, and has never been the same since. Among the biggest changes on my watch:

Independent agents are no longer the policy peddlers I covered as a beat reporter, with most at least talking the talk of risk management. A growing number actually run a full-service, consultative brokerage business, where cost-of-risk trumps the price of coverage.

Buyers continue to evolve into more sophisticated enterprise risk managers and chief risk officers, tackling much trickier exposures and routinely tapping the alternative markets, often running their own in-house insurance operations.

Bermuda has grown way beyond its initial, exotic, captive haven status to become one of the most important and innovative markets in the world. It rivals London, which has seen its own dramatic reformation–with corporate capital, rather than individual investors, ruling the roost at Lloyd's.

Unfortunately, some things haven't changed enough, or at all. State regulation remains haphazard, with Uncle Sam always threatening to get directly involved, but never actually taking the plunge. And while the industry is increasingly tech-driven, it remains a Tower of Babel in many respects, with communication standards always frustratingly just out of reach.

However, I am very grateful that one factor hasn't changed at all–the loyalty and support of our readers. Ultimately, this is your news outlet–whether in print or on our Web site, whichever you prefer–and it's a privilege to write and edit for your benefit every day. Keep reading, and never hesitate to let me know how we can continue improving over my next 25 years here.