WHITE PLAINS, NY - January 24, 2011, Ross Buchmueller, president and CEO of Privilege Underwriters, Inc. (PUI), participated in the View from the Inside Looking Out,a CEO panel at the Insurance Information Institute's (III) 15th annual Property/Casualty Joint Industry Forum at New York's Waldorf-Astoria Hotel on January 11th.
In a panel moderated by Charles Chamness, president and CEO of the National Association for Mutual Insurance Companies (NAMIC), Buchmueller joined fellow industry thought leaders Jack C. Salzwedel, president and COO of American Family Insurance, Kristian P. Moor, president and CEO of Chartis, Inc., Liam E. McGee, Chairman, president and CEO of The Hartford Financial Services Group, Inc., and Anthony J. Kuczinski, President & CEO of Munich Re America, Inc. in a discussion of the industry's 2010 performance and results and the challenges insurers will face in 2011.
The panel specifically addressed the impact that the economy's downturn has had on the insurance industry. Participants pointed out that despite positive signs of growth, the industry is still feeling the aftermath of the recession, and stressed the importance of underwriting discipline in the coming year. Buchmueller, who represented one of the two mutual companies on the panel, praised homeowners for seeking smarter insurance solutions and attributed their behavior in part to the recession. Buchmueller also indicated that increased competition among carriers and brokers, as well as innovative, affordable coverages offered by new entrants like PURE to the market, are contributing factors to the shift in consumer attitude.
Click on the links below to access additional coverage of the Forum and to watch PUI president and CEO Ross Buchmueller discuss PURE's growth and expansion plans.
CEO: PURE Continues to Diversify, Now Active in 15 States
A.M. Best Media Archive
Underwriting, Expense Discipline Needed in 2011, say P/C CEOs
Joint Industry Forum Panel Concludes P/C Insurers Have Proven Resilient During Economic Downturn
Insurance Information Institute
PURE refers to Privilege Underwriters Reciprocal Exchange, a member insurer of the PURE Group of Insurance Companies. Licensed in 32 states, PURE provides coverage for high-value homes, automobiles, jewelry, art, personal liability and watercraft to successful individuals and families. PURE is a member-owned reciprocal insurer and is rated A- (Excellent) by A.M. Best. PURE is committed to helping its members reduce the price of insurance today while controlling the long-term cost of risk. PURE Risk Management LLC serves as the attorney-in-fact for PURE. For more information, visit www.pureinsurance.com.
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