Insurer and consumer had a war of words on Nov. 15, 2007, at the National Underwriter Company's first two-day virtual conference and expo. Billed to be a “Battle of the Bobs,” the debate featured J. Robert Hunter, insurance director of the Consumer Federation of America, and Robert P. Hartwig, president of the Insurance Information Institute (I.I.I.).
Unfortunately, this Iconoclast wasn't there to throw a match on the kindling to get a good roaring fire going. Had he been, given his “Grade-C” attitude about insurance (crotchety, cranky, crabby, and cantankerous), he probably would have rooted for the consumer Bob. After all, he has taken on the I.I.I. and their statistics before.
Now what could a consumer advocate find to complain about in the insurance industry? Surely we're not as bad as that terrible financial industry that got in too deep over sub-prime lending habits and triggered a financial hissy. Or are we? According to National Underwriter, P&C, the insurance industry may have been backing some of those loans, and might be in for its own hissy fit. At the very least, it will take a hit from all the director and officer claims that will result.
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