2007 was a rather staid year for the P&C industry, all things considered. Yes we had floods, windstorms, a few tornados, and those terrible California wildfires, but the other big nemesis, the reviled hurricane, did not ravage any Southeast coastal areas, as happened in 2004-05. (Yes, we had damage in some Mexican territories, but they were lightly populated and were not a major concern for the U.S. insurance industry.) That's not to say the industry is not facing challenges. There are a number of issues that we must be aware of as we go into 2008:
Boomer retirements are looming. As these experienced professionals in the adjustment arena move out of the active workforce, what are we doing to replace and train those who are stepping in to take over?
Workers' comp losses are diminishing, thanks to efforts by leading insurance states with legislative clout, like Florida, Texas, New York, New Jersey, and California. Other states, heretofore less vocal (like Illinois) are sure to pick up the banner.
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
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
