Optimistic.

When Easter, Passover, and the flowering of Spring all happen in the very same short frame of time, the pull of optimism is irresistible. While I do not quite agree with the legendary anthropologist, Sir James Fraser, that there is merely something instinctual about our assignment of Springtime to ritual change and transformation, I must say that this year the confluence of beautiful weather with the two holidays offered the temptation to see transformation in a strongly human light alongside the spiritual holidays. It is a time for transformation for certain. It appears that the Presidential candidates are lined up to begin framing their future visions, it appears that our State Government is bringing forth some very smart ideas and is behaving responsibly with the budget and it seems that in our own industry there is innovation and entrepreneurship taking hold once again. This past week we met with three entrepreneurs, each of whom has a different product that is market responsive, including one man who has developed a different set of approaches to intermediation; another, to claims payment; and, yet a third, toward the introduction of private unemployment insurance. All, send a sign of entrepreneurial optimism that springs to life in good and bad markets alike. It’s a wonderful thing to feel, and gives hope to an industry that, after a long soft market, seems often to lack enthusiasm. We will be reporting on these developments over the next several issues but wanted to begin this column with a note of optimism that we trust all of our readers will share. We hope that your holidays were beautiful and that your Spring season moves toward Summer in an upbeat way… Speaking of innovation and optimism, we got a great response to our article on Greg Serio’s new captive insurance plan in Connecticut. It’s just one of the projects on Greg’s stove. Like other past Superintendents, maybe more so than some, Greg is highly charged and highly active in the business and demonstrates just how much he cares about improving it… Same for Jim Wrynn, whom we had the pleasure of having a coffee with recently. Jim outlined his plans for generating business for New York and, of course, for his new firm Goldberg, Segalla LLP. We wish these men and others like them who gave service to New York all our best as they pursue their careers and their fortunes and enhance the insurance business… Speaking of enhancements, the market is hardening. Let me write that again, the market is hardening. At a meeting with big brokers and some underwriters the week before last in New York, that was all the talk. It was a private meeting about a new development in the business, but that was the talk that took up the first thirty minutes. Some of the people in that room were so authoritative that I would run out right away and buy insurance stock if I had some spare money… Speaking of spare money—I spend some at a place in the city called the Columbus Club. Little by little many insurance executives of Italian/American background have joined the club. On a recent evening, there were 7 insurance executives among those in the 40 seat dining room, enjoying solid Italian cuisine and the camaraderie that goes with a club such as the Columbus Club on East 69th Street and 5th Avenue in Manhattan. Little by little, the club has become a place to do business, although that is not its primary purpose. It is the underwriter of the mammoth Columbus Day Parade… Speaking of parades, we are delighted to see mergers and acquisitions business pickup as Jason Murgio has communicated and will be reporting on a major acquisition in the next issue of one of the most important insurance agencies in the country.

Enjoy the beautiful weather!