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Insurance executives defend premium hikes as needed
Des Moines report shows Aetna Life and Casualty president William Bailey and Fireman's Fund CEO John Byrne defending higher rates to restore solvency after losses. They warn continued rate increases for general liability, workers compensation, auto insurance, and lingering uninsurables like officers and directors coverage and pollution. They urge tort reform including joint and several liability changes to curb future costs.
MENTIONED IN THIS ARTICLE
Judy Daubenmier
Sazette
Des Moines
Bureau
William ©. Bailey
Aetna Life and Casualty Co
Bailey
National Association of Insurance Commissioners
Marriott
John J. Byrne
Fireman’s Fund Corp
Byrne
Richard Baker
Chicago
Myers, Baker and Co
NAIC