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PIA's Brevik Shares "Wishes and Predictions" With Insurance Journal

PIA National Executive Vice President & CEO Len Brevik shared his wishes and predictions for the insurance industry along with other industry leaders in an...
January 8, 2009

PIA National Executive Vice President & CEO Len Brevik shared his wishes and predictions for the insurance industry along with other industry leaders in an annual start-of-the-year article in Insurance Journal magazine. Brevik noted that most observers are predicting a hardening market in 2009. "I think that people are saying the market will harden up a little bit, but everything is in such turmoil right now with the financial markets that the crystal ball is a little cloudy at this point," said Brevik.

To get things done on Capitol Hill, Brevik said he wishes for an insurance industry where all stakeholders concern themselves more with what will benefit the entire industry rather than their own concerns. The industry is somewhat fractured, Brevik said, and because of that it's sometimes tough to get legislation through Congress. "By the industry, I mean not just agents, but the insurance companies as well." The new Congress and administration will provide the industry with opportunities such as natural disaster legislation, he added. "As this natural disaster legislation comes through, we should be able to sit down and say, 'What can we agree to as an industry, to help move this process forward,' and not have it mired down in politics and problems," Brevik said.

Among Brevik's other predictions: No federal regulation of insurance - optional or otherwise - will be enacted by Congress in 2009; and Congress will pass a hybrid national health care program that preserves what's best in the current system, while lowering costs and expanding coverage.

Insurance Journal Wishes & Predictions 2009 (Insurance Journal 1/5/09)

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