Today's Insurance Professionals Winter 2009 : Page 4
2009-2010 President’s Message B ank failures. Bank bailouts. Mortgage foreclosures. Stimulus packages. Businesses downsizing. Worker layoffs. Retirement accounts at half their value. Recession or depression? Or a natural correction to an economic system that was out of control? The economists may be debating those and similar questions for years to come. The stock market is hovering around 10,000 points, down from 14,000 points more than 24 months ago, while the latest announced number for unemployment is 10 percent. Everyone in the United States and across the world has been affected by the downturn of the economy, that mysterious unknown with cycles of spending and saving, buying and selling, ups and downs. The leaders of any business, large or small, must learn to adapt in order to cope with economic cycles and to stay in operation as a viable organization. Independent agents are taking advantage of company-run service centers as a way to help with operational efficiencies. Companies are eliminating brick and mortar buildings while having their employees work from home. Company portfolios and reserves are monitored carefully to retain financial stability. NAIW is no different than any other business. Abudget is prepared annually based on our number of members and we live within that budget. The officers and staff members review operations for efficiency. We continue to look at the content and delivery method of our products and educational programs. As an added value for our members, we began offering webinars in early Fall 2009. Those webinars have been archived and they are now available online through the NAIW store for members who may not have been able to participate during the original presentation. We have partnered with other associations that annually offer scholarships, as well as discounts on course material to our members. We host a Career Center on our web site where members and prospective employers may register anonymously, and we also offer networking opportunities at each and every meeting. Atrying economic time can adversely affect the health of a business or a person. For those individuals dealing with financial difficulties, there are coping techniques that can be used: • Realize you are not alone. • Strengthen your connection with your family and friends. • Participate in physical activities, such as exercise, that can help relieve stress. • Take a class that will help sharpen your current skills or provide a new skill. • Review and update your resume to be prepared in the event of a layoff. There are also many Federal and State agencies that can provide guidance and support. One is The Substance Abuse & Mental Health Services Administration. Others include your State Unemployment Office and CareerOneStop Center, as well as your local community college. Linda Wilson “It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness…” Author Charles Dickens may have been writing about the 1700s in his novel, A Tale of Two Cities, yet his words apply today. While we cannot control the economy, the articles included in this issue offer suggestions to help us all weather the current turbulence. In fellowship, Linda L. Wilson AAI, AIS, CPIW 2009-2010 NAIW (International) President 2 TODAY’S INSURANCE PROFESSIONALS • WINTER 2009
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