It was a serious year, with major stories covering investigations, hurricanes, floods, mergers, court rulings, reform legislation, elections and more. The torrent of news on the insurance industry reminded us how important this industry is and gave us a lot to talk about.
As is the case every year, there were winners and losers to talk about in 2004. Losers included Marsh, Greenberg, Rowland, McGreevey, Benson, Pawtucket Mutual, Providence Washington, Carroll County Mutual, Security Indemnity, FEMA, drunk drivers and New York workers’ compensation.
Winners included Spitzer, Cherkasky, Csiszar, Blumenthal, Silverstein, Codey, Rell, Lynch, Denn, Bowler, Koken, Bakke, Serio, Drive, claims adjusters, fraud fighters and New Jersey and Massachusetts auto insurance.
AIG, Aon, St. Paul Travelers, OneBeacon, The Hartford, Atlantic Mutual, Harleysville, Commerce, Willis, Insurbanc, Brown & Brown, USI and SIAA were all in the news, although a few might have preferred to stay out. Also Grau, Clark, Rusbuldt, Cogswell, Redmer, Iuppa, Reilly, Mancini, Romney, Ehrlich, Pataki, Rendell, Oxley, Irons, McConaghy and others saw their names in print and html a few times.
As if the big news on those big firms and people weren’t enough to keep us talking, there was also the news about the Lloyd’s underwriter who created a policy covering the loss of a male model’s chest hair.
It was an historic year and not just because of Hurricanes Charlie and Eliot. The glass-and-steel pavilion housing the Liberty Bell in Philadelphia was readied for its move to the insurance industry’s American College on its campus in Bryn Mawr.
No industry is better at throwing about capital letters. Just when we were getting accustomed to GLB and TRIA, this year brought us MAIP, MSA and PSA–but the best new acronym by a landslide was SMART.
Believing that such an important industry should also be fun, two firms launched www.insuranceisfun.com, featuring insurance jokes and insurance gift products, whatever those are. Their slogans include: “Kiss me, I’m all risk” and “Adjusters live in denial.”
Then there was the story behind the stories, big and small. In addition to reporting the news in 2004, Insurance Journal made some news of its own. IJ expanded to five regional editions in print, beefed up its Web site and its already immensely popular e-mail newsletter, broadcast dozens of video interviews, added several key professionals to its staff, and rededicated itself to being the best source for insurance news.
Come 2005 and the years ahead, Insurance Journal will continue to improve, report on all the insurance stories, and give you something to talk about.
Best Wishes for a Happy, Healthy and Prosperous New Year!
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