A View from the Press Box

There is a phrase in journalism called “burying the lead,” meaning you fail to put the most important part of the news story right up in the first paragraph. When reporters do this, it’s just poor or lazy writing. But when sources are guilty of this sin in their press releases, it’s called “spin”–putting the best face on bad news. That’s the case with the latest industry-wide financial results reported by ISO and PCI. (more…)

While it was an honor to meet Prince Andrew, Duke of York, it was a thrill to shake hands and speak with Capt. Chesley Sullenberger after he received the Lloyd’s Gold Medal for Saving Life last night during the London market’s annual New York City all-star dinner. (“Sully” is to the left, Prince Andrew in the center, and Lord Peter Levene, Lloyd’s chair, to the right.)  (more…)

There is a knee-jerk reaction among proponents of a single-payer system for health insurance who keep mindlessly reciting the mantra, Medicare For All! The problem is that even though Medicare is one of the most popular government programs–a veritable sacred cow politically–the fact is expansion of the plan to cover all Americans would never work. If you doubt me, do the math. (more…)

There is something unseemly about the face-off in U.S. District Court between Maurice “Hank” Greenberg and AIG, the company he led for so many years, over billions in stock supposedly set aside as incentive compensation for employees. In a sense, this is the final battle in an ugly divorce–one I am not certain the indomitable Mr. G can win. (more…)

There was noise out of the White House today that President Barack Obama may be open to curbing medical malpractice lawsuits by offering some sort of liability shield to help get doctors on board his health care reform bandwagon. Given the fact that Democrats are so closely tied to the trial lawyers lobby, I’ll believe that when I see it. (more…)

Hillary Clinton must be pulling her hair out and John McCain is probably banging his head against the wall after seeing their unpopular positions on health care reform co-opted by President Barack Obama, who scored big political points against both of them on this critical issue during last year’s campaign, only to end up adopting their respective approaches. (more…)

Richard Kerr, CEO of MarketScout, is a shameless tease! In commenting on his firm’s latest Market Barometer survey, he asserted “there are still three large, admitted, publicly-traded insurers clamoring for premium, seemingly at any rate and continuing to prolong the soft market.” But he refuses to name the three stooges! Can you guess who they might be? (more…)

Now that Democrats in the House are nearing a vote on an historic health care reform bill, with the Senate not far behind, the Republican leadership is supposedly crafting its own 11th hour alternative that will be more market-driven. What took them so long? What has House Minority Leader John Boehner been waiting for? (more…)

Remember the old ad campaign, “When E.F. Hutton talks, people listen,” in which a crowded, noisy room would go so quiet you could hear a pin drop whenever the sponsor’s name was mentioned? There have never been very many people who could silence a room like that in the insurance business, but Ramani Ayer was one of them. (more…)

By now, I’ve become pretty much inured to the shameless product placements in TV shows paid for by advertisers desperate to get the attention of consumers armed with DVRs and fast-forward buttons. But Nationwide hit a new low recently in its sponsorship of the TBS sitcom “My Boys,” and I hope others don’t follow their lead. (more…)