The 12th Annual Statesman Dinner was held on Thursday, February 4th at the Hudson Theatre in New York City. The event dates back to 1999 when David Foster, then a leading Lloyd's underwriter, now retired, was honored as the first Statesman of the Year.

Todd Jones, who runs Willis’ Northeast Region and was formerly its executive protection practice leader, was this year’s honoree.  Nobody was exactly sure what Todd did to earn the honor, but, nonetheless, it was a good excuse for a very enjoyable evening.

An independent event not affiliated with PLUS (or any other reputable insurance organization as far as we can tell), the Statesman Dinner is held each year not only to honor a deserving leader in the professional lines insurance industry, but also to raise significant funds for various charities. 

The event is the brainchild of Edwards Angell Palmer & Dodge’s John McCarrick, a man who has created, and/or played a key role in, a number of very successful charitable endeavors. 

McCarrick has been joined by Don Bailey of Willis and Dave McElroy of Arch in organizing the Statesman Dinner, along with many other unsung heroes, such as McCarrick’s very capable assistant, Karen Pinski.

The event, a sell-out every year, hosts roughly 250 people for a cocktail hour, dinner and post-dinner entertainment consisting of a roast of the honoree, and playful jabs at many others in the industry.  The typical proceedings each year include speeches, videos and live skits. 

Bailey, a very talented and funny master of ceremonies, was absent this year, but he appeared in larger-than-life form via two videos.  McCarrick and McElroy, each with his own style, also did excellent jobs of delivering entertaining presentations.  [Clearly, I'm hoping this critique will get me off the hook from skewering next year.]     

Many believe that the Statesman Dinner, a very hot ticket, has supplanted C&S Night as professional lines insurance's most enjoyable evening of the year. Individuals were in attendance from every corner of the United States, as well as Canada, Bermuda and the U.K.

Besides being a chance to catch up with old friends, the Statesman Dinner also seems to be the place where people bury the hatchet on old disputes and renew past friendships.  In general, it is a night of great industry camaraderie.

Each year the honoree chooses a charity to receive half of the dinner’s proceeds.  The organizers select the charitable recipients of the rest.  Todd chose the Miami Project to Cure Paralysis, a cutting-edge medical research organization.  A doctor from the charity was on hand to accept a $25,000 donation from the Statesman Dinner.  I would tell you his name, but someone at my table was yelling for more wine when it was announced.  The doctor made a very nice speech, telling people that significant advances are being made and that a cure for paralysis may occur during our lifetimes.

Todd made some very touching and funny remarks in his acceptance speech, despite being roundly ridiculed during the evening.  His graciousness was in keeping with the general nature of the proceedings (this blogger will, of course, depart from that path with the captions on the photos to follow…) 

All in all, the 2010 Statesman Dinner was another rousing success: people enjoyed themselves immensely and a lot of money was raised for very good causes. 

Here now are some pictures from the evening:

Statesman Dinner founder John McCarrick greets AWAC CEO Scott Carmilani during the evening's cocktail hour.  Scott would probably still have jet black hair if he were just a lowly underwriting manager, but our guess is that he'll take the gray and the CEO pay package any day of the week.

Bill Winget and Luigi Spadafora, two of my friends the industry's leading insurance defense attorneys, probably wish that they could have a do-over on this picture. 

Rob Wolfe of ACE, Mike Morales of Everest National, Catherine "No Relation to Danny" Seto of Everest National and Mark Paccione of Everest National enjoy the cocktail hour without cocktails.  New York State insurance officials were investigating to see if they really are in the industry.

Claudine Rossman (far left) and Laura Coppola (far right), both of Arch, flank two young ladies, one of whom is Robyn Semos of Arch Bermuda, the trouble is I'm not sure which one she is.  She knows however.  It was a hectic night, lay off the blogger. Tim Kelly, a very successful professional lines broker at Lockton in Houston, stands behind the girls in order to balance out their beauty and intelligence in this photo.  Sorry Tim, you knew you were taking your chances by letting me photograph you. 

Tom Gamble of Willis, Kathy Kelly of Arch and LouAnn Layton of Marsh catch up on old times before the dinner.  Each was overheard saying that they thought they should've been the Statesman instead of Todd.  That was a very common theme among attendees.

Rich Fernandez of AmWins Atlanta and Ray Santiago of Chartis New York. compete in the Ugliest Tie, Biggest Forehead and Phoniest Smile Contest.  It was a dead heat.  That looks sort of like a church pillar in the background but, believe me, it's not.

Andy Pritchard of AmWins, Steve Boughal of Travelers, Keith Riccio of Freedom Specialty and Tom Ruck of CNA stop discussing their Super Bowl bets long enough to be photographed.  The four, who worked together at National Union in the 1990s, were also overheard discussing when it would be safe to start wearing their AIG logo'd clothing in public again.

Tom Zacharopoulos of Integro Atlanta was looking for the New York Insurance Library and mistakenly ended up at the Statesman Dinner bar.  Oh well, he made the best of the circumstances. 

DANGER, DANGER WILL ROBINSON!  Word of advice from this blogger: never go to lunch at Nobu with this pair, Steve Pincus and Matt Baum of Willis.  Steve, normally a great guy, will advise "Just let the waitress bring what's fresh, don't bother ordering off the menu."  That will be your last memory before finding yourself in front of a bankruptcy judge.  Go with the Trinity Pub, much cheaper.  PS I know both of their wives, very cool women who could've done much better.  

Paul Lavelle, owner of LVL Claims Services, one of the professional lines industry's leading claims consultants, stands at the podium to roast Todd, not a difficult assignment.  Todd's enlarged photo, seen in the background, was later used by the kitchen crew to scare away rodents. 

Here's a photo of Table 4 and some of the other tables at the Hudson Theatre.  Look hard, you're probably there somewhere in the background.

Mike Karm of The Hartford and John Rafferty of Arch reprise Johnny Carson's "The Great Carnac" skit.  This blogger's favorite Raff insult: "May your wife's number be found on Tiger Woods' cell phone."  They did a terrific job for amateurs (I mean with the skit, not their underwriting...)

I only took this photo so that Todd would see the flash and think that someone really cared about what he was saying.  It worked, he welled up shortly after this was shot.  Everyone else was enjoying their wine and side conversations while he spoke.

After the event, Todd was so drained of emotion that all he had left for the camera was an empty glass and an empty expression.  The pressures of being named Statesman of the Year are known only to those so honored.  Good luck Todd, please represent the industry well in this next year and don't let any compromising erotic videotapes leak out.  Really, please.  We beg.

The Statesman Dinner is ripe for an after-party (smart marketers take note) but, in the absence of that, people broke off in groups and hit various bars.  Here, Steve Walsh of W.R. Berkeley and John Connolly former governor of Texas of Willis' Philadelphia office discuss how John's wife thinks he's on a business trip in Detroit.  John's best side for photographs, apparently, is the back of his right hand, which he proudly displays for the camera.  Walshy seems to be enjoying it.

And, finally, to sum up the entire evening, we have this photo of Martha Roberts and Brian Wanat of Aon.  Was it fun or what?  Another great evening at the Statesman Dinner.  We hope to see you all there again next year... 

Do not fear death so much, but

rather the inadequate life.

– Bertolt Brecht (1898 – 1956)

More than 200 insurance professionals gathered last night at the Public House on East 41st Street (special thanks to manager Lynette Cesarowas) to raise money for the creation of "comfort packs" for kids undergoing chemotherapy at The Children's Hospital at Montefiore in the Bronx.  And, just as importantly, to celebrate the life of Carolyn Sullivan, the precious daughter of Pete (Aon NY) and Jeanne Sullivan who passed away in September from cancer.  Here's a photo of Carolyn in her school uniform:

Carolyn was eulogized at her funeral as being a very energetic, fun-loving and friendly girl, who lit up a room whenever she entered.  Many mourners also talked about her great charm and sense of humor.  Her loss is felt deeply, even by those of us not lucky enough to have known her. 

The event was organized by Cara LaTorre and John Vanasco of Aon.  Cara, in particular, deserves special mention for the untold hours of her personal time that she devoted to making the event the huge success that it was.  Money was raised not only through the admission fee, but also by means of a raffle, with many great prizes, and direct individual and corporate donations. 

Dr. Kathy Skae of The Children's Hospital at Montefiore was on hand to make some very nice remarks about Carolyn, who she personally treated.  Dr. Skae also expressed the Hospital's gratitude for the fundraising effort.

The event was a great opportunity for friends to catch up with each other.  Judging by outward appearances, everybody enjoyed themselves immensely.  No doubt, that's just the way that Carolyn would've wanted it.

Below are some photos from last night's event.

This is Cara LaTorre and John Vanasco, the party's organizers.  Cara was working frantically at the admissions table shortly before this photo was taken.  John was having a drink.  

Braden, Quinn & Lubeck is not a law firm (scary thought!), just Brian, Pete and James sharing some war stories.

Dan Flood, Ray Santiago and Simon Beynon talking about how they miss the good old days at AIG working with LG.  Or maybe not.  That's what I thought I heard them saying but I may have been hallucinating. Those drinks were strong.

Rich "Sunshine" Fachet and Steve "Coach" Troiano share a laugh.  They probably won't be laughing when they see their nicknames in print.  Steve is actually called "Coach" because he's a mentor for a lot of young underwriters.  I wouldn't want you to think that it's because he sits in coach class all the time.  That's not the reason.  Really.  And "Sunshine" is a better nickname than "Moonshine" so Rich should just be happy with it.

Mike Klaschka and Laura Coppola (and industry favorite of mine) catch up on old times.  Laura mustn't have been able to find anyone else to talk to at that moment (just kidding Mike...well, maybe not...)

Here we see that Laura was able to peddle Mike off on the lovely and talented Natasha Tarasova, another one of my industry favorites.  She deserves better.

In this third and final picture from my time-elapsed photography session, Jason "The Hawk" Hawkins tells Mike that he's done talking to him and will have to hand him off to someone else...

They say that bloggers get all the women...here I'm flanked by Raquel Rongione and Lara Bruzzese, two good Irish girls... They say the camera adds 20 years to men. 

Leigh McMullan (prominent member of the John Street Club) and Lori Marino talk about the good old days at ACE, or the good new ones at Valiant.

Dave "Lucky" Lynders and EveAnn "Not-Much-Luck-I'm-Stuck-With-Dave" Cassis (of FETA fame) discuss their former time together at Axis.  Unfortunately for Dave, and through no correlation, the Axis stock price rocketed the day after he quit.

Bill "Billy Mo" Morris and Pete Sullivan.  Bill volunteered to test an experimental NASA human transporter, much like the one in Star Trek, and is seen here dissolving molecularly just before being beamed up.  Unfortunately, the experiment went awry and Bill was only transported across the room next to Klaschka.  NASA Scientists are back at the drawing board and Bill is undergoing counseling. 

Rob Exelbert, Andy Perterson and George Blume share a laugh and a Coke.  Andy, in my opinion, is one of the most talented underwriters in the history of insurance.  He controls the Zurich luxury box at Madison Square Garden.  I tried to speak with Andy last night about some really important stuff, but it was too loud.  We need a quieter place to talk, like in a luxury box maybe.

Ray Santiago and John Benedetto discuss the latest fashion trends.  Actually, John did all the talking, Ray just nodded as he looked around the room.

Steve Whalen, Andy Doherty and Lara Bruzzese  are shown here. Andy was supposed to be calling Bingo at St. Margaret's in Pearl River last night.  Hopefully none of the parishioners read the PLUS blog.  I barely read it, so I doubt any of them would....

Pete Sullivan and Car LaTorre.

Jason "Doc" Brown and Tania Chen discuss the current state of the insurance market.  Jason is affectionately called "Doc" because he has a doctorate in being cheap thrifty.   Not really, but if there were such a thing, he could teach the courses.

Steve Boughal, Ryan Seacrest, Liz Mayo, Brian Wanat and, surprise, surprise, Mike Klaschka (he was following me around) appear here.  Seacrest took some time off from filiming "American Idol" to stop by in the hopes of meeting Kevin Sears.  Seacrest heard that Sears looks like him.  Unfortunately, Kevin never showed up, so Ryan entertained the crowd with behind-the-scene stories from his days working at CNA.  Strange coincidence.

Have you ever seen two guys happier to be at a party?  This is Vince McGee (not to be confused with industry legend Vince McGeehan of Willis) and Brian Braden competing to see who can smile wider for the camera.  A fitting final photo for a thoroughly enjoyable party.

One last thought on Carolyn and her brief but wonderful life.  A quote from Abraham Lincoln:

"In the end, it is not the years in your life that count, it's the life in your years."  

The launching of the new decade caused me to reflect on some of the insurance industry lessons that I learned in the past ten years.  The first decade of the 2000s was certainly eventful, although not always in a good way. 

The old Chinese proverb, “May you live in interesting times,” once again proves susceptible to multiple interpretations.

I can’t verify that all the lessons below were learned in the last ten years, some are older no doubt, but most fit the bill.  The very first lesson that I learned last decade, shortly after the clock struck midnight on January 1, 2000, is that the “experts” are not always right.  As we know, the much-anticipate Y2K "meltdown" never happened. 

Not only did things not meltdown, they didn’t even get warm to the touch.  Sometimes the "experts" are just flat-out wrong.  Astoundingly so, in fact.  So, I learned that lesson….

Ø     PLUS, I learned that you should think creatively and share your innovative ideas with people who can make them happen.  Even they don't work out, your superiors will be impressed that you're one of the few people who really think about the business;

Ø     PLUS, I learned that karma exists; if you’re a jerk, it will come back to haunt you.  On the other hand, do a good deed and it will be repaid (pay it forward, as they say...);

Ø     PLUS, I learned (again) that you can’t judge a book by its cover. I've listened to senior executives of respected companies tell me how great their organizations were, only to see those companies destroyed by scandal not long after.  It's hard to detect a really good liar no matter how good you think you are;

Ø     PLUS, I learned that if someone asks to have the fraud exclusion removed, decline their submission immediately and vow not to do business with them in the future.  You'll be happy you did;

Ø     PLUS, I learned that if you remember people's names, especially prospects in a large group meeting, you'll have a greater chance of getting their business (Dale Carnegie gets credit for that one);

Ø     PLUS, I learned that the good accounts will pay you back over time, because they value relationships;

Ø     PLUS, I learned that if we all did our jobs with as much enthusiasm as Bruce Springsteen does his, our industry would be immensely better off;

Ø     PLUS, I re-learned that you should respect everyone.  We've all seen examples of subordinates eventually becoming their boss's new boss. Just be nice to everyone and you won't have to worry;

Ø     PLUS, I learned that if September 11th taught us nothing else, it drove home the fact that we should cherish every day;

Ø     PLUG, I learned that no company is above scrutiny;

Ø     PLUS, I learned that Yahoo Finance is a good resource and you shouldn't let info-snobs talk you out of using it;

Ø     PLUS, I’ve learned that if you’re going to let someone take a silly picture of you, like my friend did, you should get them to promise not to post it on a blog;

Ø     PLUS, I learned that you shouldn’t be afraid to ask questions in a group meeting.  Others have the same thoughts but are afraid to speak up.   You’ll impress both the prospect/client and broker with your interest and intelligence;

Ø     PLUS, I learned that you should acquire at least one rabbi, a senior person in your company (or, if not there, in your industry niche) who can give you career advice and insights.  Choose someone who cares about you, it will pay off handsomely in the long run.  Don't just rely on the random musings of people like me;

Ø     PLUS, I learned that there are a lot of benefits, some unexpected, that come with being an active participant in industry associations like PLUS, RIMS, DRI, The Council on Litigation Management, the CPCU Society, etc.;

Ø     PLUS, I learned that when underwriting a company, you should think about their product or service and how you believe it may have utility in your own life.  If you have no use for it, others might not either. And if you’ve used the product or service and had a bad experience, maybe others have too.  Personal experience is important;

Ø     PLUS, I learned that when you're adjusting a claim, treat the claimant with courtesy and respect, and promptly return their calls, whether their claim is valid or not.  You may keep a client for your company, and possibly even spark an expansion of the relationship, regardless of whether you pay the claim;

Ø     PLUS, I’ve learned that if a company brings their CEO to an underwriting meeting, they usually either have a really good story to brag about or a really bad one to mask;

Ø     PLUS, I’ve learned that the operations people rule the world, so be nice to them.  That includes your assistant and all other support staff;

Ø     PLUS, I’ve learned that you should pay attention to what the popular press says about your clients.  Whether it’s true or not, it can have a big effect on the company;

Ø     PLUS, I’ve learned that you should never speak ill of competitors, especially to clients and prospects, it only denigrates you and makes you look classless, no matter how true your comments may be;

Ø     PLUS, I learned that who you work with is usually more important than what company you work for;

Ø     PLUS, I learned that you should let the other side make the first offer whenever possible;

Ø     PLUS, I learned that Side A coverage is no longer pure gravy;

Ø     PLUS, I learned that Cost of Corrections benefits the carrier when used properly;

Ø     PLUS, I’ve learned that if you discover something that doesn't make sense to you, ask questions until it does, no matter what the issue (maybe this should be called "The Madoff Rule");

Ø     PLUS, I’ve learned that if you get an account solely on price, you should expect to lose it solely on price;

Ø     PLUS, I learned that you can never do too much for charity.  For example,  this Thursday, January 14th from 6 - 9 pm at the Public House, 140 East 41st Street in Manhattan there will be a party to raise money to create "comfort packs" for kids undergoing cancer treatment.  It's one of the most worthwhile events that you can attend this year.  For more information, or to buy your tickets, please contact Cara LaTorre at charity11410@yahoo.com or call 212.441.2372.  You can also call John Vanasco at 212.441.2281.  There will be a raffle featuring terrific prizes such as vacation getaways, golf foursomes, an autographed Derek Jeter baseball and other great items.  I'm sorry to sneak this ad into what you thought was an informational piece, I'm getting like Advisen!

Ø     PLUS, I’ve learned that you should protect business secrets even more zealously than your own;

Ø     PLUS, I’ve learned that if you invite someone to a meal in the business world, you should pick up the tab (this doesn’t apply to friends);

  Ø     PLUS, I've learned that a picture of Sophie The Blog Dog increases blog reader satisfaction.  Here Sophie licks her chops over what she anticipates to be many clicks;

Ø     PLUS, I’ve learned that your personal reputation in this industry is the most important thing that you own; don't compromise it for any reason;

Ø     PLUS, I’ve learned that if you're a broker, you should always remember that most exclusions are not in the Exclusions Section.  Close your office door (or put on headphones if you're in a cube) and do a full-on policy review,  your client deserves it and your E&O carrier will appreciate it;

Ø     PLUS, I’ve learned that you should read the footnotes to the financials, that's where the meat is hidden, and is from where headlines will be made;

Ø     PLUS, I’ve learned that when in doubt, you should err on the side of overdressing for a meeting or other business function;

Ø     PLUS, I’ve learned that brokers should keep RFP responses as short as possible, the client or prospect will appreciate it and be impressed that you’re not wasting their time with another War and Peace;

Ø     PLUS, I learned that you shouldn’t gloat over another company's misfortune, you could be in their position someday;

Ø     PLUS, I learned that just because everyone else dislikes a person or an account, it doesn't mean that you have to; make up your own mind based upon your own investigation;

Ø     PLUS, I learned that if you meet a famous or very powerful executive, it’s natural to be impressed, but don’t let it show too much;

Ø     PLUS, I learned that relationships matter in our business on many levels.  I do business on a personal basis with MetLife, Chase, BofA, Verizon Wireless and Fidelity Investments, to name a few, because I know the current or former risk managers and they are good representatives of their companies;   

Ø     PLUS, I learned that you can’t steal second base without taking your foot off first.  You have to take some personal and professional risks sometimes if you want to really succeed;

Ø     PLUS, I learned that I like blogging so much that I’ve started a humorous blog on general topics.  It’s at www.lgreport.blogspot.com.  You can read about my experience in Martha Stewart's audience, my environmentally-friendly idea that would save McDonald's millions, and where to get the best sushi (Yama) and groceries (Wegmans), among other things;

Ø     PLUS, I learned that I should thank you for reading my PLUS blog postings and I hope you’ll come back often and continue to support PLUS.  Best wishes to you and your family for an awesome 2010. 

This picture sums up, for me, one of the best aspects of working in the professional lines insurance industry:

That first sentence was rather cryptic.  Allow me to elaborate. 

The photo above was taken last night at an annual holiday dinner which has occurred during the week between Christmas and New Year's Day for about eight years now.  Nobody remembers the exact year of origin. All of the participants worked together at AIG in the 1990s.  A few are still there, although most have moved on to other companies over time.  Despite working for competing firms, we still get together every year at this time to reminisce, catch up on everyone's news and to just have a good time. 

One of the traditions in recent years is that I invent a ridiculous bar game or two (which explains why Mike Kambos is wearing goggles in the photo below) and a few of us amuse ourselves until dinner is ready.  This year the games came to a halt when we lost the super ball somewhere on the floor of Harry's Italian.  I suspect that an annoyed restaurant employee found the ball and hide it on us.  In case you're interested, the person who was shooting the super ball had to wear the goggles for safety reasons (of course, that wasn't the real reason; I just wanted to inject some extra ridiculousness into the proceedings and the goggles were hard to pass up at the dollar store...)

The point of it all, however, is that we have a fairly close-knit community in professional lines and it's something that we don't always take time to reflect upon or appreciate.  I've never worked in investment banking or accounting or consulting, but my guess is that people in many other professions don't enjoy the camaraderie that we may take for granted.  It's something to think about as this decade ends and the next is about to begin.

I'm going to leave you with a few more photos from last night, but first I'd like to mention that next week I'm going to post some thoughts on things that I've learned in our industry over the past decade.  If you have any thoughts or lessons that you'd like to contribute, please e-mail me at LG727@aol.com. I can attribute your thoughts or post them anonymously, just let me know what you'd prefer (but if they're good I'll probably take credit for them either way...)

George Blume (PIA), Ray Santiago (Chartis) and Ron Borys (Aon) compete in the "2009 Holiday Party Worst Picture Pose Contest."  It was a three-way tie although a few of the judges were impressed by Ron's redeye (the photographer was clearly not to blame) and George's feigned look of sleep/boredom.    

Black and white is this year's hot fashion look according to those in the know.  Here Julia Roberts (played by Leslie Hinck of the Loews Corporation/CNA) and Beyonce (portrayed by Chartis' Shelby Robinson) display the trendy outfits that they recently picked up at K-Mart the Giorgio Armani store.   

And you thought the phrase "beer goggles" was just a figure of speech! Mike Kambos shows off his winnings from the "Look Like a Scary 1940's Aviator" contest.  As a holiday gift to him, I won't disclose Mike's employer in case he's interested in keeping his job in this depressed economy. Oops, did I say Mike Kambos?  I meant to say that his is a picture of Charles Lindbergh's grandson, Charlie Lindbergh IV.  Please note that the goggles prevent redeye.  Only $1.00 at a dollar store near you! 

Some people actually wanted their picture on this blog!  Pictured are the lovely Sandy Nalewajk, Anne Jaggassar and Gina (she only goes by one name since that's all I know.)  "Sex and the City" has just found their new cast, you go girls!

Ron Fiamma (left, of Chartis) reacts to being told that he would be denied access to the LG Blog on www.plusblog.org.  Relax Ron, we were only kidding!  Also pictured are Anthony Yanni  of Everest National (he's no relation to the singer Yanni) and the Loews Corporation's Leslie Hinck (no relation to would-be assassin John Hinckley so don't think that she shortened her name to avoid that connection; she didn't.)    

Thanks for reading my blog and for supporting PLUS in general. Please accept my wishes for a happy, healthy and successful 2010.  

Pull up a chair kids, I want to tell you a story.

We sold Y2K insurance in 1999 when I worked at AIG.  It seems like last month.  As I recall, Y2K insurance was available as either a stand-alone policy or as an endorsement to a standard D&O form.  We tried to scare potential purchasers into buying with a number of doomsday-like predictions from third party "experts."  I remember that one  so-called expert thought that the computer malfunctions would be so pervasive that "We'll still be feeling the effects of Y2K 50 years from now."  Supposedly, if you owned a BMW there was a good chance that you wouldn't be able to start your car because the key contained a computer chip. 

I think we sold a grand total of two policies in the Financial Institutions Group at National Union.  I won't embarrass anybody by identifying the purchasers (mainly because I can't remember, otherwise I'm not against embarrassing people...)  As we all know, the anticipated problems were virtually non-existent.

It's hard to believe that all of those things occurred ten years ago.  Time flies whether you're having fun on not (I am, for the most part, having fun, not that you asked...)   

Given that we're about to draw the curtain on another decade (yikes, can it really be?!) I thought I'd pause to reflect a bit on some of the things that have happened in the insurance industry, at least the professional lines corner of it, in the last ten years.  Here, in no particular order, are my thoughts. I'm also throwing in some not-necessarily-relevant photos since my people tell me that blogs with photos get much higher reader satisfaction ratings and I'm all about ratings and clicks, as you may have gathered by now. Anyone with their own "people" would feel this way, so don't blame me.  Anyway, here we go, so strap in:

·        The so-called Class of 2001 companies, start-ups all, have fared surprisingly (to me) well and are actually, for the most part, thriving quite nicely.  Arch, AWAC, Axis and Endurance jump immediately to mind.  Ironshore, Class of '06, is also doing quite well and Everest National has a nice talent pool going for it;

·        Consolidation within the industry, especially in the last year or two, hasn't occurred at the torrid pace that many observers expected;

·        AIG, always a juggernaut and, certainly, at one time the industry's most respected company, seemed surprisingly vulnerable for a time in 2008, and then, perhaps surprisingly, it has seemed most resilient;

·        None of the many financial crises and scandals during the decade (and there were many) delivered the industry-crippling losses that a lot of observers expected;

·        The magnitude and frequency of such scandals, however, seemed to far exceed anyone's expectations;

·        I know a guy who saved his employer $15 million by turning down the fidelity bond submission on Bernard Madoff's investment advisory firm (if you can call it that) because he felt that one person, Madoff, had too much control over the company and it "just didn't feel right."  I won't tell you his name (he doesn't need a job) but it reinforces, to some extent, the value of good old-fashioned experience and intuition in our industry.  Don't underestimate it;

·        Phil Voluck of the Kaufman Dolowich law firm is a very colorful character who does a lot for the industry.  I poked fun at him in the past so I thought I should set the record straight;

·        I've mentioned this before, but it is well-worth repeating:  Cara LaTorre and John Vanasco of Aon New York are organizing a cocktail party (beer, wine and premium drinks) on Thursday, January 14th from 6 - 9 pm at the Public House, 140 East 41st Street in Manhattan.  All net proceeds will be used to create "comfort packs" for children undergoing radiation treatment at the Children's Hospital at Montefiore in the Bronx.  This is being done in the name of Carolyn Sullivan, the precious 9-year old daughter of Pete (Aon New York) and Jeanne Sullivan who passed away in September after a courageous battle with cancer. Tickets are $60 in advance or $65 at the door.  For more information, or to buy your tickets, please contact Cara at charity11410@yahoo.com or call 212.441.2372.  You can also call John at 212.441.2281.  This is an open party and you are encouraged to spread the word to as many people as possible (if a certain threshold of attendees is met, the bar will close to the public that night and hold only this event.)  Raffle tickets will be sold at the event.  The great prizes include golf foursomes, a delicious dinner and other terrific items.     To read about Carolyn and her wonderful life, please go to www.caringbridge.org/visit/carolynsullivan    This is for a great cause and promises to be a very enjoyable night for all so please make every effort to attend.  And please spread the word (e.g. send this blog posting to all your friends)  and feel free to bring a pal or five.  Everyone associated with this event thanks you deeply.  And if you're lucky, your photo may even appear on my blog posting about the party! Please, contain your glee (I also take bribes to not post photos...);  

·        Cynics will periodically say, mostly during a soft market, that the market cycles are dead in the insurance business and the soft market is here to stay, permanently.  Then it hardens again and everyone denies ever saying that;

·        PLUS has enjoyed great success in this decade (and, again, I'm not just saying that because they set me up with this blog platform) thanks, in large part, to very strong leadership at both the national level (Derek Hazeltine and his team) and regional levels (too many people to mention.)  As many of you know, the 2009 International Conference in November attracted a record number of registrants, over 1,900 (many of you didn't even know that "registrants" was a word.) That's fairly remarkable considering current economic conditions.  A valuable PLUS trivia fact: the PLUS logo contains three stars because PLUS's founder, Angelo Gioia (who started the organization in 1987), has three sons.  He told me so himself.  He's a very innovative guy.  Also, Bill Gates's dad (yes, that Bill Gates) did the legal work to incorporate PLUS.  It's true;

·        Karma in action: a certain attorney general, who saw a scandal where many saw none, was ousted from office by a scandal.  Everyone saw that one however, on the cover of the New York Post;

·        One of the most impressive industry success stories of the decade: the growth of Advisen.  It's become indispensible to many in the industry.  Business Insurance, National Underwriter, and The Insurance Insider, to name three, are great industry publications, but Advisen is a daily tool (make your own pun off that one...)  Tom Ruggieri and his team have really hit a homerun;

·        Insurance coverage and defense law firms seem to have proliferated in this decade.  Ten years ago, Wilson, Elser, (WEMED), D'Amato & Lynch (I'm an alum), Mendes & Mount and a few other firms seemed to dominate the field (and all still vibrant players) but now there are a bunch more firms that do excellent jobs, as well as large, old-line law firms who have soiled their hands by entering the field.  I guess it's a reflection of the industry's growth; 

• This is a photo of John Kerns of Beecher Carlson and Sheila Small (risk manager of Verizon and, yes, she can hear you now -- she's heard that one before) at the Beecher Carlson holiday party. The guy in the background is developing a bald spot, but it's not too bad yet. 

•    Professional lines underwriting will always need an intangible element in the underwriting, at least for large accounts; 

·        That "Donate Your Car for Kids" commercial that constantly plays on the radio (coincidentally, as I type) is really annoying.  The kid mispronounces the word "donate," listen closely next time (he says "duh nate")  and it makes me want to do the opposite and donate my car to senior citizens (by the way, I investigated and the proceeds go to a school in Texas);

·        One good thing that came out of the Bernie Madoff scandal: I got to meet Nobel Prize Winner Elie Wiesel at a breakfast seminar on the Madoff scam.  I only spoke to him briefly but he is an extremely impressive man, he exudes dignity and class.  You should read his book Night;

·        When this decade began, nobody had even the slightest idea to offer terrorism insurance in the U.S.  Sadly, that changed;

·        I don't care what anyone says, and I think most people in the industry are with me on this: Hank Greenberg's legacy will be that he was one of the greatest leaders in the history of this industry, a true genius;

·        The Statesman Dinner has turned into one of the most enjoyable nights in the industry each year (unless you're the honoree or someone else skewered on stage) (Bailey & McCarrick: please don't skewer me for saying that);

·        I don't think too many people mourn the passing of the black-tie C&S Dinner at the Waldorf, but the general decline of the first Wednesday in December as a massive social and networking night for the industry is sad, we've lost something;

·        People hired purely as "ringers" for the company softball or basketball team generally turn out to be inferior employees and teammates;

·        It seems like insurance is proliferating as a major at colleges around the country (see, e.g. the ad on the PLUS website seeking an insurance professor at the University of Montana). More and more people are entering the industry intentionally, can you believe it?!;

·        ACE and Aon have really made hay this decade (However, I think I got into Aon's grill and prompted the change of their stock symbol from AOC to AON; you'd know this if you read The Book);

·        Marsh, while suffering some serious talent drain (no, not losing me) (or even Tom Zach for that matter), has managed to keep a very talented core of people at senior levels.  It's a good company to work for;

·        Wholesalers (particularly ARC, Socius and AmWins) throw the best parties in the industry;

·        Someone could easily make a show similar to "Madmen" about the insurance industry, the problem is, no insurance insider would want to write a tell-all;

·        The so-called "Gen Re" trial was a travesty, as were the sentences, really;

·        I think I can hear the PLUS Webmaster changing the locks as I type (Scott Billey does an excellent job);

·        Insurance needs a single national regulator who can see what every company is doing in every state.  It will simplify and streamline everything for all interested parties;

·        All those golf outings and other charity events in our industry are worthwhile and they do make a difference, so please keep attending and supporting.  Some of my favorites are:  the Santiago Golf Outing, the St. Thomas Charity Classic, the Marsh FINPRO 9-11 Charity Golf Outing (ran for five years and was discontinued) and one which I can't think of right now, so if you call to say that I forgot to mention yours, I'll say that was it;

·        This is a picture, taken at the Jersey Shore, of last weekend's snowstorm.  Just wanted to give you an idea of what I shoveled.  Quite a workout;

·        September 11th is a scar that will never fully heal;

·        Many people who originally thought that they were only in this industry temporarily live in very nice houses.  And they have just-as-nice weekend houses and phat bank accounts;

·        A Word to the Wise (and I don't have many):  If you're under 25, you should seriously consider becoming a fidelity underwriter, they will be in high demand soon. If you're over 25, it's still not a bad idea, I just inserted that age limitation to get your attention;

·        The popular press does not like the insurance industry.  Get used to it;

·        At some point during this past decade "finite risk" went from being a hot, "license-to-print-money" product to being a four-letter word;

·        If you work in the D&O field, don't miss the February PLUS Conference in New York unless you have a really good excuse (like your company won't pay to fly you here; if it's only a subway ride away, go to the reception at least, it's a great networking event...);

·        2001 was definitely the industry's worst year of the decade.  2009 feels like it was next worst (I didn't consult the actuarial charts on that, I just went with the gut);

·        Here's a picture of someone in our industry, a friend of mine, totally missing the ball (known as "whiffing" for you non-golfers) on an actual swing (no, not a warm up swing, I promise you.)  I won't identify him because he'd be quite angry, but maybe you can figure it out if you look closely.  The picture is from 2004.  This decade felt somewhat like a whiff at times, don't you think?  Maybe that was just a stretch to justify posting this photo...;

·        Your best friend, neighbor and, possibly, spouse, don't really understand what you do for a living.  And if you closely read most insurance industry analyst's reports, you'll realize that they don't really know our business either;

·        Pound-for-pound, the most fun people to be around in our industry work in London ("pound" pun not intended there, but I'll take it);

·        Everybody wants the middle-market business now;

·        If you don't know about, and respect, the people and companies who built professional lines into what it is, you should make a point to learn (and I'm actually not just referring to my book, even though you think I am; just talk to an old-timer);

·        One of the best ways to lose a client is to look at your Blackberry in a meeting;

·        Still, nobody knows what to call this decade that is passing: the aughts, the "oh oh's," or whatever.  Time will sort it out;  

·        I notice that I mentioned the other two of the Big Three brokers but not Willis.  They are good too.  The Bermuda office is a textbook example of how to run a successful operation;

·        I thought Chubb would get bought long ago, great name, great infrastructure and plenty of talent.  But what do I know?;

·        I ran D&O units at AIG and ACE and still can't tell you why it takes so long to issue a Fortune 1000 D&O policy, it's some kind of unanswerable mystery.  If you ever find a genie in a lamp on the beach, that's the one question you should ask him;

·        We have a lot of good people in this industry and at times I think we take that for granted;

So there they are, some of my random ramblings at the end of this decade. Here's hoping that the next ten years are better than the previous ten. 

If you haven't already, this is probably a good time to reflect on all of the good people and things in your life at the end of this decade, as well as to pause and remember the friends and colleagues who entered this decade with us but didn't make it to the end.  I'm sure we are richer for having known them.

I wish you and your family a happy and healthy holiday season and a wonderful 2010. 

I will leave you with a holiday photo of Sophie the Blog Dog, who also wishes you all the best:

The good people at PLUS afforded me the opportunity to blog about the 2009 PLUS International Conference on this website in mid-November.  I had fun doing it, and I hope that some of you enjoyed reading my postings.   This may be hard to believe, but not only did PLUS not pull the plug on my blogging before the conference was over (despite 7-2 Vegas odds that it would), but I was actually offered continued use of this forum to post my opinions, updates on industry happenings, etc.  For this, I thank the senior managers of PLUS once again.  Hopefully I will not disappoint (I don't want to know the Vegas line on that one.)

I probably won’t post very frequently, but the issue of conducting the September 11th terrorist trial in downtown Manhattan has raised my ire and moved me to write.  I should note that if you’ll look around this blog site, you’ll see disclaimers stating that the opinions expressed by the bloggers are their own and not those of PLUS.  I’d like to reaffirm – and emphasize – that point.  If you disagree with my thoughts, I’d invite you to post a reply, but please don’t attribute my views to the PLUS organization or any of its managers.  In fact, I believe PLUS strengthened their disclaimers once they gave me the keys to the blog kingdom (well, not really, but I won’t be surprised if it happens…) 

You may question the relevance of the 9-11 trial to the insurance industry and the appropriateness of this topic appearing on the PLUS blog site.  But, then again, you may realize that the connections are deep. 

Our industry had the second-highest number of 9-11 fatalities of any business sector (Marsh and Aon alone accounted for almost 500 deaths.)    The human toll of September 11, 2001 on the insurance world was incalculable.  In my opinion, it dwarfed, in comparison, even that day’s catastrophic financial consequences.  And, of course, our industry is tethered to this issue because many insurance companies are headquartered in Manhattan and/or have a significant presence here, so their employees will be in close proximity to the proceedings, like it or not.

I strongly believe that this trial does not belong in New York City.  My reasons are manifold but, in the interest of (relative) brevity, I will lay out only a few.

First, there is no logical basis to give these despicable defendants such a high-profile forum as New York City to spew their anti-American views.  This city is the world’s biggest and brightest media stage.  The terrorists didn’t elect to attack the Sears Tower in Chicago or the Transamerica Building in San Francisco for a reason: they are not in the world’s media and financial capital.  The cowards behind the 9-11 attacks may have been able to decide the high-profile location of their atrocities, but we shouldn’t allow those choices to dictate the venue of their prosecutions.  Reporters will turn out in droves no matter where this trial occurs, but it will greatly reduce the public relations value of the proceedings to the terrorists’ cause (whatever that may be) if they are forced to defend themselves in Topeka or Cheyenne or, better yet, Guantanamo Bay.  It’s plainly evident that these defendants much prefer to conduct their rants on the big stage of New York City.  What attention seeker wouldn’t?

My second reason is more emotional, but no less compelling.

I don’t know much about U.S. Attorney General Eric Holder, but minimal research shows that he grew up in East Elmhurst, Queens and attended Columbia University and Columbia Law School.  So he certainly has a flavor of New York City and, most likely, still has roots here.  Whether he was in Manhattan on September 11, 2001 I don’t know, but, of course, it’s irrelevant; the pain and devastation of that day was, and still is, felt nationwide, and I’m sure he experienced it like all other Americans.   

I was downtown working for AIG on September 11^th and for about 30 minutes I feared that I might lose my life from inhaling the mammoth cloud of smoke that mushroomed from the North Tower’s collapse. Someone near me yelled in the bedlam that the smoke “might be poison.”  In the year that followed I cried frequently when thinking of lost friends and colleagues and our shattered American way of life.  I’m sure many of you did too.  And, I’m certain, people who lost close relatives broke down much more frequently, and intensely, than I did.  It’s a horrible emotional scar for every American, but particularly so for the people who inhabit Manhattan island for all or part of every day.  Why do we need to rip open those never-to-heal scabs by conducting such a high-profile, in-your-face trial in this city?  Do the survivors deserve to have this bright-light reminder of that worst of all days directed squarely into their eyes eight years later?  It will be a long, drawn out torture session.  The Band-Aid will be pulled back slowly and painfully, but it will never fully come away. 

Below is an excerpt from a book I wrote last year about professional lines insurance.  This, I assure you, is not a thinly-veiled commercial for the book (I’m not good with the thin veil, I’m more of a club-over-the-head type of guy….) In fact, I’m not even going to mention its name or how to order it.  But I would like to share this:

*        *        *

My friend Dennis and I met twenty five years ago, when we were both in college.  He came to live for a summer with the Campaniles, close family friends of ours who live down the block from my childhood home at the Jersey Shore.  A Virginia native, Dennis was interning for the summer with Kidder, Peabody on Wall Street.  He is now Father Dennis, a Catholic priest in the New York Archdiocese.  One of Father Dennis’s good friends, Father George, was an auxiliary chaplain with the New York City Fire Department in September of 2001.  He was summoned to the World Trade Center shortly after the first plane hit on the morning of September 11^th.  That day, I was told, marked the first time in the history of the New York City Fire Department that all 30 auxiliary chaplains were summoned to a single fire.  They gathered at St. Peter’s Church on Barclay Street, about two blocks north of the burning towers. 

Father George said that virtually every fire truck racing to the World Trade Center stopped at St. Peter’s so that the crews could confess their sins (the majority of NYC firefighters are Roman Catholic) before charging into the flaming buildings.  The commanders admonished their subordinates to skip confession because of the magnitude and urgency of the situation, but the rank-and-file firefighters paid no heed.  These men forced almost every truck to stop at the St. Peter’s on what would be the final fire call for most of them.  Father George sensed that these brave men did not necessarily foresee the Twin Towers collapsing, but they knew that they would very likely lose their lives saving others and they wanted to square up with God first.  So many firefighters stopped for this final holy sacrament – despite the unprecedented importance of their mission – that the priests had to absolve them of their sins en masse as they jumped off the trucks.  There was no time for individual confessions.  These courageous public servants knew that they were going to die, and yet they pressed onward to discharge their duties.  In the face of the fiercest fires anyone had ever seen, they had no thoughts of their own safety, only of saving others.  Ironically, St. Peter is believed to usher the deceased through the Gates of Heaven.  Perhaps on September 11, 2001 his work began for 343 firefighters at a church bearing his name.   

*        *        *

The majority of those 343 courageous firefighters lived in, or near, New York City (note: the same is true, of course, of the law enforcement officers, emergency medical technicians and many civilian heroes who died at the World Trade Center.)  If it were possible to poll those  343 brave souls on whether they’d like the architects of their murders to be tried in New York City, in plain sight of their still-grieving loved ones, my guess is that the vote would be 343 – 0 against creating such an emotional ordeal for the survivors.  Don’t we owe those heroes and their memory something?

Third, no matter how much the government assures us to the contrary, conducting the trial in Manhattan will pose an increased security risk to a local population that has already suffered enough terrorist mayhem.  People who live and/or work in Manhattan are, visibly or not, continually on edge to some extent with respect to the prospect of additional terrorist attacks. Why does our federal government choose to needlessly exacerbate that anxiety?  The trial is currently projected to last at least a year.  That's quite a while for this ordeal to drag on -- and it may very well go longer.  

The rationale for holding this trial in New York City really escapes me. These cowards were not here when their crimes occurred.  And their evil also wrought destruction in Washington, D.C. and Pennsylvania, although, admittedly, not as much.  The planes that did this destruction took off from Boston, Virginia (Dulles Airport) and Newark. The so-called “Shoe Bomber’s” flight took off from Boston and the Justice Department decided to hold his trial in that city.  Where is the logical consistency with the current decision?  Mr. Holder has publicly stated that the proper venue for a trial of the terrorists behind the USS Cole attack would be a military tribunal because they attacked a U.S. military target.  Was not the Pentagon a U.S. military target?  

Is there a political agenda behind this decision to conduct the trial in New York City?  It seems to be the ineluctable conclusion.  The 9-11 atrocities were acts of war against our government; the victims were not known to, or specifically intended targets of, their killers.  Since when are war criminals, particularly those who committed their acts (i.e. the planning) overseas, tried in the civilian courts of Manhattan?  This, it seems to me, is an unprecedented act of stupidity and political grandstanding.

Many would say that the American justice system is the fairest on earth (I agree) and that these defendants deserve an even-handed and open trial, such as would, theoretically, be conducted in New York.  But is that really possible?  Any juror who was living or working in New York City at that time, and even in just more recent years, will have a difficult time being truly independent and fair.  I can tell you that if I learned that any of these defendants so much as helped a conspirator find an outlet to plug in their laptop during the planning stages, I would be quick to hand down the severest punishment allowed.  

The father of Todd Beamer, the civilian hero who helped force down United Airlines Flight 93 in a Pennsylvania field at the cost of his life, is fervently opposed to holding this trial in New York City.  He recently attended a Senate Judiciary Committee hearing that reviewed the issue of the trial’s location.  In a Wall Street Journal op-ed (http://online.wsj.com/article/SB10001424052748704888404574547681569546414.html), David Beamer said that it was disconcerting to see how the divergence of opinion was drawn squarely along party lines, with Democrats favoring the administration’s decision and Republicans opposing it, although not as vigorously as he’d have liked.  The wishes of the victims’ families, he felt, were not sufficiently considered.  Unfortunately, that is not surprising.

This administration poked an insensitive finger in the eyes of all New Yorkers when it orchestrated a boneheaded fly-over photo op for Air Force One earlier this year.   Is there really a need to follow up on the callous stupidity of that act with this punch in the gut?  Hasn’t New York suffered enough?  

*        *        *

If you want to weigh in on this issue with the Department of Justice, its website says that you can send an e-mail to AskDOJ@usdoj.gov.  In the “re” line you should make it clear that you’re writing to Attorney General Eric Holder about the 9-11 trial.  If you’re so moved, please pass this information along to your friends as well. 

Susanne Scalfane with National Underwriter Online News Service has a great article detailing the world of class action lawsuits based on comments made by the opening panel of the 2008 PLUS D&O Symposium.

Read the full article here at the National Underwriter website.

David Katz from CFO.com reports on the keynote address by William Donaldson, former Securities and Exchange Commission chairman and Wednesday Luncheon Keynote at the 2008 PLUS D&O Symposium held February 6 & 7, 2008 at the Marriott Marquis in New York City.

Read the full article behind the comments here on the CFO.Com website.

Commentary by Jonathan Weil on the Bloomberg Website has suggested that the SEC’s staff has granted the subprime-lending industry a huge exemption from the normal rules for off-balance-sheet accounting.