NEW YORK— Ongoing quarreling over the budget in Washington is causing anxiety in the insurance industry—much more concern, it would seem, than the industry's ability to handle random weather events.
The current stalemate is causing an “incredible pent-up demand,” says Liam E. McGee, CEO of The Hartford, at the 17th annual Property/Casualty Joint Industry Forum at the Waldorf-Astoria in New York on Jan. 15.
“It is so frustrating to me, hearing from customers,” McGee adds. A survey Hartford did of small and mid-sized businesses shows that pessimism toward Washington has doubled in six months, he adds.
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