Everything in our industry is challenging

But it's important to explore the questions to find those answers we can. No. Does that mean we have all the answers? We have a responsibility to our policyholders, our shareholders and to our employees to make sure we are up-to-date on the issues that affect them and that we investigate and discuss public policy issues. The CEO Roundtable's main function is to look at public policy issues. I am the vice chairman of the CEO Roundtable, which is comprised of executives of the top fifteen insurance companies in the United States. In fact, there are a number of institutes that do unique research on particular issues. There are a lot of resources available to help executives, including insurance publications and insurance associations. But there are so many moving parts in the insurance industry that it sometimes becomes challenging to manage all the variables. We, as individuals, like to have some degree of certainty so we can make decisions.

The most frustrating part, obviously, is trying to predict what may happen in a rapidly changing legislative, regulatory and judicial environment. If you don't, another company will get the business and you won't, and/or it will impact what you will pay in claims because you may not be collecting enough premiums to pay for them. You have to spot the newest trends before they hit the marketplace. It is a dynamic industry, and you can't be asleep at the switch.