Early in my career as an Advisor and Insurance Broker to employers, I learned that Insurance industry has become a familiar wiping post for the media, political pundits and politicians.
· Some of the comments maybe deserved & created by the insurance industry’s missteps, but
· Most comments from the non-insurance professional typically are half-truths or misinformation
· The media and politicians use their comments to gain headlines, rating, reelection themes
· In some cases the content is just propaganda to justify escape goading for a cause that is not necessarily in the public’s best interest
Let’s face it, without insurance:
· No commerce as we know it would exist today
· Standard of living & luxuries we have now have would not be available
· There would be no loans for homes, building, cars, etc. (probably a strict cash society would exist)
Thanks to the guys in the “Lloyds Coffee Shop” in London who decided to share risk for the ship voyages & cargo each was hauling and taking the first steps to create a form of insurance. The market began in Edward Lloyd‘s coffee house around 1688 in Tower Street, London. His establishment was a popular place for sailors, merchants, and ship owners, and Lloyd catered to them with reliable shipping news.
Tune in each Tuesday to learn practical solutions to the risks and threats employers, and their key staff members. Plus, stories about how employers are dealing with the challenges of running their organizations, dealing with employment issues and addressing legal compliance.