October 22, 2002
NEXT MEETING, OCTOBER 21… we’re scheduled to hear from Dr. Lee Royce, president of Mississippi College.
LAST MEETING, OCTOBER 14… George Dale, our state’s Insurance Commissioner, provided us with some excellent background about the insurance business as a whole, and some hard facts about conditions the industry is facing today, both nationally and in Mississippi. Noting that the growth of the insurance industry has closely paralleled the growth of the country, he gave us these indicators for the future: 1) Mergers and acquisitions are sure to be more prevalent. In most countries, there are 100 or fewer insurance companies. In the U.S., there are 2000. 2) International ownership of mainline U.S. companies is sure to increase in the future. 3) Delivery procedures for insurance are changing, with use of the internet becoming more and more common. 4) Financial institutions are providing insurance, and vice versa, making regulation increasingly difficult. We need to face the problems of the industry, he said, by recognizing the factors that are driving up costs: underwriting, a downturn in investment income, terrorism/reinsurance, and the legal climate in our state. Thanks to Jennifer Hall for arranging and introducing this program.
WELCOME
TO NEW MEMBER… number seven of this Rotary year. Introduced
to the club on October 21 was:
Danny Rodgers, President of MMC Materials, Inc. Danny was introduced
by his proposer, George Gunn.
YOUR BOARD
OF DIRECTORS… has approved the following new member proposal.
If no objections are received within 10 days, she will be introduced to
the club as a new member:
Beverly Allen, Corporate Account Manager, Cellular South. Bev was proposed
by Jennie McIntosh.
CONGRATULATIONS
TO… the winners of our Golf Tournament:
The team of Jud Allred, Bob O’Brien, Chuck Staten, Peter Marks.
Individual winners Rick Trethaway, Guy Hovis and Jim Hargreaves.
PRESIDENT’S
CORNER… Please allow me to express my appreciation for the cooperation
and support I have received during my first 90+ days as your president.
A special thank-you to the directors, committee chair-persons, Bill Dawson,
Haden Hughes, and all the club members. You have made my job as president
an easy one. We are still striving to address some of the concerns that
were stated in the questionnaire. Your continued support is needed for
all Rotary activities – Paul Harris Fellows, Sweetheart Banquet,
PolioPlus, Rotary Foundation, etc. Again, thank you! -- Howard