RISK & REWARD
Because no company came through the crisis
entirely unscathed, it helped to widely illuminate the state of risk management across the
breadth of the insurance industry.
“2008 and 2009 were great test years for
the insurance industry, and with one major
exception, they performed remarkably
well,” Gallant says. “It was a time when
good behavior was rewarded.”
The companies that fused financial man-
agement with solid risk management prac-
tices fared better than those that divorced
