CEO Corner

A look back at 2008

There has been a tectonic rupture in the world's economy. The financial world as we knew it one year ago no longer exists. We are encountering a volatile combination of significant economic, regulatory and political headwinds.

Just like in politics, where the old tried-and-true ways of raising money and getting elected no longer apply, the old ways of doing business or thinking about policy are no longer sufficient to ensure success.

We must remember that we are facing interest groups who will challenge our assertions. It is difficult for the everyday consumer, the media and policymakers to cut through the fog of competing messages, and we are challenged by those who simply don't understand our industry. We will need to find fresh, clear and compelling ways to communicate to this important group.

PCI SmartBrief will answer the need for accurate reporting of property casualty happenings. Spread the word about PCI SmartBrief to keep abreast of significant developments in 2009. Encourage your colleagues to sign up for the brief at PCI's Web site, www.pciaa.net and visit our site daily for association news.

Sincerely,

David Sampson

President and Chief Executive Officer

Best of 2008

• Liberty Mutual now fifth-largest P&C insurer (9/22)

• AIG doesn't intend to sell U.S. commercial lines (9/18)

• Insurers scramble against downturn (10/9)

• True/False test may help detect personal injury fraud, experts say (3/5)

• Court blocks order suspending Allstate in Florida (1/18)

• Commissioners clarify AIG situation (10/1)

• Losses, damage from massive Hurricane Ike expected to be enormous (9/11)

• Filling the insurance industry's "talent gap" (6/2)

• Insurer wants to bundle wind, flood coverage in homeowners policies (6/25)

• Big P&C companies looking to take over small, profitable ones (9/1)

Your Favorite SmartQuotes

In any moment of decision the best thing you can do is the right thing, the next best thing is the wrong thing, and the worst thing you can do is nothing."

--Theodore Roosevelt,
26th president of the U.S.

When one door closes, another opens; but we often look so long and so regretfully upon the closed door that we do not see the one which has opened."

--Alexander Graham Bell,
American inventor

You must be the change you wish to see in the world."

--Mahatma Gandhi,
Indian political leader

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