Eating papaya and drinking coffee, we relaxed on the terrace in front of the Royal Hawaiian Hotel on Waikiki Beach. It was hard to believe we were getting ready to listen to straight talk about some of the most disastrous events in our industry and in our lifetimes.
But the Opening General Session of the IIAA’s InfoXchange was not about doom-and-gloom. Unlike last year, it was also not about dot-com mania and the battle for market share. This year, it was about pride in our profession and a reaffirmation of our strength as an industry.
Although attendance was down somewhat due to the events of the past months, more than 1,200 agents and brokers were still on hand to reevaluate their place in a changing political landscape.
Most of all, we just needed to talk. To tell our stories: where we were, who we knew, how it was affecting our business. Then, we needed to ask questions: what does this mean? how much will it cost? what do I do now? Finally, we needed to listen: to fellow agents, to industry executives, to motivational speakers, to political pundits.
The consensus was clear: as an industry, we have our work cut out for us in the coming year. The development of the federal reinsurance plan, one of the most pressing issues right now, will dominate the industry for months to come. Policy language and exclusions must be sorted out and losses measured. Billions of dollars worth of claims must be paid, and promptly.
“In contrast to the events of Sept. 11, our professional challenges can seem trivial, our activities insignificant,” IIAA Outgoing President Bill Hofmann told attendees. “But I assure you, that is not the case. If anything, the need for a strong insurance market has been laid bare in the aftermath of this furious attack. The role we all play in supporting our nation’s economy and its citizens has been revealed. Now the world knows what we already know: that our industry is strong, that it is compassionate, and that it is prepared.”
Tom Ahart, newly sworn in as the leader of the Big “I,” echoed that theme. “Your association has never been stronger, and our goals have never been clearer. As your president, I am committed to securing your future, and I have no doubt we will succeed.”
And with a little impromptu Hawaiian dancing onstage at the Closing Night Party, Ahart showed that despite the pressures, he is not afraid to have a good time. That’s the attitude and the confidence we need to get through the work that must be done in this next year.
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