Changing Weather Patterns
“We have, during the last four years in a row, really seen extreme weather away from the coasts. We’ve seen it in areas that historically haven’t got that much attention, from a modeling perspective.”
—Robert Hartwig, president of the Insurance Information Institute, speaking during an interview with the National Public Radio last month. Weather-related catastrophes caused some $35 billion in insured damages in the U.S. last year.
Eyeing Overseas Markets
“We expect Liberty to have a much higher growth in markets overseas, and relatively slow growth here in the U.S., but it would amount to about the same in premium dollars.”
—David Long, CEO of Liberty Mutual, speaking at Insurance Information Institute’s P/C Insurance Joint Industry Forums last month. He said that in the next five years, Liberty Mutual expects half of all new premium dollars to come from emerging markets.
Looking for Health Care
“Because more and more companies are converting retirement benefits, too many in the boomer generation are left in the precarious position of finding alternative health insurance coverage.”
—Delaware Insurance Commissioner Karen Weldin Stewart, on baby boomers who are considering early retirement. Stewart said many new retirees will need to look for alternative health insurance until they reach the age of 65 when they are eligible for Medicare.
Paying Back Taxpayers
“I want to make sure AIG pays back the American taxpayers with a profit.”
—Robert Benmosche, CEO of AIG, during his recent interview with CNBC. He said repaying the federal bailout money remains one of his top priorities.
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