One of things the insurance industry hates most is uncertainty. We invest heavily in attempting to reduce uncertainty and replace it with predictability. The ability to accurately assess and predict risk with reasonable certainty is key to success in the insurance business.
Imagine the shock whenever attempts are made to predict what Congress will do. Natural disasters may be easier to predict. Congress often seems to specialize in creating uncertainty, especially regarding insurance issues. We've seen an example of this in the past year.
Earlier this year, most observers would have predicted that the Terrorism Risk Insurance Act (TRIA) would be renewed without difficulty long before its Dec. 31 expiration. Unfortunately, this hasn't happened.
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
© 2024 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.
