A hard market may not be arriving anytime soon, but several insurance executives at last week's S&P conference suggested that the industry is in good shape, even in the midst of a struggling economy, while others warned against complacency.
The Hartford Financial Services Group's longtime chair and chief executive officer, Ramani Ayer, will retire from the government-supported organization at year's end, his loss-riddled company announced last week.
While industry association members who have worked with the outgoing NY insurance superintendent point to his handling of the AIG meltdown and WTC coverage dispute as his major accomplishments, Eric Dinallo shifts much of the credit to the agency.
Insurers could face new transparency obligations as well as technological and regulatory challenges as they explore different methods of rating pay-how-you-drive and even pay-where-you-drive auto coverage, an industry executive warned.
A bill that would have banned credit scoring in Connecticut was altered and then died in the Senate at the end of a legislative session characterized as "challenging" by one insurance industry representative.
Ramani Ayer's retirement announcement means another one of the dwindling number of iconic insurance industry leaders is heading out the door, laments NU Editor In Chief Sam Friedman in his blog today at www.NUSamSoapBox.com.