Harold Lee & Sons @ 125

Harold Lee & Sons @ 125

Harold Lee & Sons is a credit in a number of ways to the Independent Agency and Brokerage system, but most of all, to the fact that this agency has survived and prospered marvelously as a uniquely ethnic agency, is testimony to the enormous opportunity this country provides.

For as long as I have known Steve Boone, he has been a gentleman of the highest order; his sister Sandra and others in his family are great Americans and their agency is a great institution. May it prosper for another 125 years. Unfortunately, I had to miss the Anniversary event which was held at the Chinese Museum and attracted many professionals. We will have a full article in the next issue of the Insurance Advocate… In this issue we discuss the situation facing medical malpractice insurers. In New York State both Novus and Lewis and Clark recently closed here and moved to other states. As you know, risk retention groups are not regulated the same as insurers and can move around with great facility, leaving clients and brokers sometimes in a lurch. New York has two medical malpractice providers – i.e. real insurance companies per se – MLMIC and PRI. In each case these enterprises struggle against incredible odds provided by the trial bar, activists courts, crazy regulations, and crazy requirements – notably the funding of a pool that drains their surplus resources. We applaud MLMIC and PRI for standing tall and staying strong in the marketplace. We believe that they will survive what is seen in the Conning and Company report as a mixed outlook for medical malpractice insurers. We hope so.