Victim or Victor?

Amid discussions of how insurers are weathering the financial crisis and economic downturn, a key message emanating from the 13th annual Property/Casualty Insurance Joint Industry forum is that the insurance industry is not doing enough to promote its contribution to society and the economy. The comments came during the experts panel View From the Outside Looking In. Sam Friedman, editor in chief of National Underwriter, noted that too often the industry allows itself to be victimized, letting its detractors dictate message rather than taking them to task. He gave the example of the media focus on the fewer than two percent of claims that were in dispute after Hurricane Katrina rather than the 98 percent of claims that were settled. Connecticut Insurance Commissioner Thomas Sullivan agreed that there is a need to better educate the media and others on insurance issues: an Insurance 101 if you will. Panel moderator Charles Chamness, president and CEO of the National Association of Mutual Insurance Companies (NAMIC) made the point that with all the other challenges facing the industry, it’s tough to fit in public relations as a priority. Do you agree with these comments and what do you think can be done to improve the industry’s reputation with the public? For more on this story, check out National Underwriter’s January 14 online article by Phil Gusman. For more on how insurers’ support of the economy goes far beyond their core function of helping to manage risk, check out the I.I.I. online publication A Firm Foundation.  

One thought on “Victim or Victor?”

  1. Interesting post, Claire. Now I’m curious about what people are finding to be the blind spots…are they clarifying terms/concepts? debunking myths? etc.?

    I’d also be curious to see if social media made its way into the how-can-we-fit-PR-in conversation.

Leave a Reply

Your email address will not be published. Required fields are marked *