BLOOMINGTON, Ill. -- The public is becoming increasingly aware of the many underlying factors that affect insurance rates and availability, says Lowell Beck, president of the National Association of Independent Insurers.
The price of that educational process has been high, he told a Country Companies' claims/underwriting fall conference here recently. Specific examples of that high price, he said, are operating losses in auto insurance, a clogged court system, lost jobs and businesses, and "a near-total collapse of the workers' comp system.
"But people are waking up to the fact that insurance companies are not the cause of these troubles," he added, "but, instead a dial... a needle, if you will... pointing to deep and widespread problems in our society.
"They are beginning to appreciate how uncontrollable medical costs, litigation, court rulings, costly laws and regulations, and subsidies are connected closely to the price and availability of coverage," Beck said.
"As a result," he said, "insurance companies are being watched...