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President’s Message
At this writing, consumer confidence is being reported as rebounding this month, from a one-year low, on hopes that an improving economy will continue to create jobs. Earlier this month, the U.S. Labor Department reported that employers added 162,000 jobs in March, the most in three years. Nevertheless, unemployment stayed at a near 26-year high of 9.7% nationally. And, the National Bureau of Economic Research, the official savant of U.S business cycles, reports that although “most indicators have turned up,” it’s too early to declare an end to the deep recession that began in December 2007.
Confidence, recovery, the predictions that go along with them, and our industry outlook for this year were the basis for many discussions at our NAPSLO Mid-Year Leadership Forum held last month in Arizona. Our attendance reached nearly 550 people – a demonstrable increase over last year and a testimony to the revised format and agenda.
How firms adjust was one of themes of the meeting, including the Executive Session panel discussion featuring Neal Abernathy of Swett & Crawford, E.G. Lassiter of the RSUI Group, John Latham of Markel Corporation and Matthew Power of Lexington Insurance Company. The session was standing room only and was as-advertised – big-picture observations peppered with real-time illustrations. For those who missed the session you can watch it on the NAPSLO website.
We also held our first Town Hall meeting. NAPSLO’s pre-eminent position as the spokesleader for wholesale lines distribution and surplus lines products was acknowledged; along with reports from the Committee Chairs about the objectives and achievements relating to their bodies of work.
On the Washington, D.C. front, we’ll again meet with Federal legislators later this month to make a final push for getting successful surplus lines reform language included in bills approved by the House of Representatives and recently by the Senate Banking Committee. Admittedly, there are many issues that compete for the time and attention of the Legislative Branch of our government. Our Legislative Day – providing live faces and voices to our message -- reinforces the day-to-day representative work attended to by Maria Berthoud and her staff at B & D Consulting.
As always, please contact me, any member of our Board, or the NAPSLO staff should you have any questions or need for industry assistance. |
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