GUAA Risk Review

Spring 2002

Crazy Times

By Don Russell
President, GUAA

This is our first newsletter since the terrorist attacks on September 11th. My heart goes out to all of you who have suffered personally and professionally. Our industry really took it on the chin. These are crazy times indeed.

As you know, we decided to hold our fall meeting in Charleston despite the turmoil. Although our numbers were down as we expected, the committees put together some terrific workshops for those in attendance. The venue was beautiful and as usual Karen Gritton put together great entertainment package!

It seems like only yesterday, we were managing and enjoying the impacts of mergers, acquisitions, a global economy, and a soaring stock market. Now, our country is at war, the economy is unpredictable, the dot com is dead or at least in a coma, and the stock market rises and falls on any and every whisper of good or bad news. Did you notice that Led Zeppelin is the music for Cadillac ads during the Olympics? How crazy is that?

The magnitude of recent events is unprecedented. What impact has it had on you, on your product, on your company, or on the decisions you make as an underwriter? Many companies are trying to recover from losses directly associated with 9/11, while others are trying to predict the future impact and what actions they should take now to prepare. GUAA meetings are a great place to learn more about our industry and specifically, the difficult task of underwriting during such unpredictable times.

Our next meeting will be held in Washington D.C. in June. Washington D.C. is always a great place to hold a meeting. Make your hotel reservations early for this very popular venue. Check out our website at www.guaa.com for all the details on meeting registration and hotel reservations.

GUAA continues to be one of the best places to go for industry information, networking opportunities and specific product knowledge. Pass the word on to your co-workers and friends around the industry. We all benefit from growth with new ideas and information.

As always, please let the Board of Directors know if you have any comments, ideas, concerns, or questions. We look forward to seeing you in DC this June.

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