This past week NAMIC hosted over 1,790 insurance professionals at their 2022 annual convention in Dallas, Texas. AAIS interviewed NAMIC President and CEO Neil Alldredge and discussed the highlights of the 127th Convention as well as current trends and strategies for 2023, plus, what we can expect from NAMIC in the future and more.
Alldredge explained that the insurance industry has recently faced challenges from how and where people work and the environment they operate in, to the “broader economic circumstances we find ourselves in and the inflation period we are seeing.” Alldredge also added that there is an economic downturn influencing insurance industry markets – whether we look at reinsurance costs, catastrophe claims costs, etc. – these issues are on the “forefront of everyone’s mind this year.”
Alldredge shared his predictions for 2023, which included his thought that rates will increase in several states and that mutual insurance companies are going to do what they have always done… serve the interest of its policyholders and be ready for their customers when they need them.
To watch the full interview, please click the video above.