OXFORD, Miss. – Even in a tough economic environment, many insurance companies continue to succeed by executing business fundamentals and preparing for better times, industry leaders said recently during the University of Mississippi’s 15th annual Insurance Symposium. 
The symposium, “2010: An Insurance Odyssey,” was hosted by the School of Business Administration’s Risk Management and Insurance program. Sessions included “Selling and the Shift to Risk Management,” “Legacy Planning and Defined Benefit Plans,” “The Facts Will Set You Free: Common Sense is the Name of the Game,” “Trends in Agency and Brokerage Operation,” “Worker’s Compensation in a Challenging Economy” and “National Political and Legal Developments Affecting the Insurance Industry.”
“The Property and Casualty industry is characterized by increased market segmentation, which has introduced product innovation and greater pricing precision,” said Robert P. Restrepo Jr., chairman and CEO of State Auto Insurance. “At the same time, competitive conditions, flat investment returns and weather-related catastrophe losses have produced an environment of deteriorating profitability.”
“The audience response is always so gracious and positive,” said Larry Cox, professor of finance and Robertson Chair of Insurance. “They generally realize that they get to interact with top leaders in the insurance industry who probably would not visit our state if we did not have this special university-industry event.”
At the symposium’s awards ceremony, senior risk management and insurance majors Jennifer Rose Adams of Columbus and William Moorer of Moss Point each received Outstanding Student Service Awards. Harper Young of Greenville, a 1971 UM alumnus and national chair of the Professional Insurance Agents Political Action Committee, received the Outstanding Supporter Award. Ronald Tubertini, president and CEO of SouthGroup Insurance and Financial Services, received the award for outstanding leadership and service as chair of the Business School’s Insurance Advisory Board.
Symposium speakers also included J. Patrick Gallagher, president and CEO of Arthur J. Gallagher & Co.; Michael D. Miller, president and CEO of Scottsdale Insurance; Michael J. Plavnicky, president and CEO of Montgomery Insurance; David Daniel, chairman of Independent Insurance Agents & Brokers of America; and Stephen J. Klingel, president and CEO of NCCI Holdings.
Symposium attendees could earn as many as nine continuing education units for Mississippi and Tennessee insurance licensees. UM business students were actively involved in hosting all aspects of the event. Continuing education credit options and an opening reception were sponsored by Webb, Sanders & Williams PLLC.
For more information about the risk management and insurance program, visit http://www.olemissbusiness.com/insurance/.