Friday, April 16, 2021

Contemplating Retirement

Looking to retire in four more years! 

I’ve been in the business of casualty insurance claims since June 1980 with a 4.5 year sabbatical from 1988 through 1993. Overall, the business has been fascinating since my specialties involve complex coverage and catastrophic injury claims. For the most part, I have been privileged to work for ethical companies that believe in acting fair and equitable in every respect. I could not be anything other than that.

But, the industry has swung back to focusing on bean counters. The focus on cost containment causes me internal conflict. I’m struggling with this. I’ve not ever been asked to compromise my ethics; and that I could not do under any circumstances. But, I’ve always believed it is my duty to look for ways to provide the client with the benefit of the doubt instead of looking at scenarios with a less generous view. It isn’t wrong.But, we are now expected to adhere to metrics that are not always flexible,

This change in philosophy has caused colleagues to retire early, look for opportunities in different industries or just quit. I find it sad. The insurance industry is wrongly misjudged to a great extent thanks to  lawyers that exploit people who have suffered a loss. Regrettably, the contraction of the workforce peopled with honorable folks that believe in doing the right thing compromises the reputation of our industry even more. Just an FYI...insurers do not try to take advantage of folks. Most make every effort to act in good faith & fair dealing. It is just who we are. 

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