Second Chances

Jon Gorman | Editor-In-Chief

In 1946, with the seventh game of the Major League Baseball World Series between the Boston Red Sox and the St. Louis Cardinals tied 3-3 in the eighth inning, two outs, and the Cardinals at bat with Enos Slaughter on first, Harry Walker hit the ball into left-center field. The Red Sox’ Leon Culberson fielded the ball and promptly relayed it to the cutoff man, shortstop Johnny Pesky. Upon receiving the ball, Pesky turned to make the throw back to the infield, but hesitated before releasing the throw. Many believe Pesky’s hesitation occurred because of his surprise to see Slaughter rounding third toward home instead of standing on or sliding safely into the base. Pesky’s supposed hesitation was all it took, Slaughter scored, the Red Sox failed to score in the ninth, and the Cardinals won the World Series.

That same year, Hall of Famer and arguably the “greatest hitter that ever lived” Ted Williams played in his only World Series. He would never get another chance to improve upon his performance in that series, getting just five singles in 25 at bats with one run batted in.

Forty years later, perhaps the most legendary gaffe in World Series history would cost the Red Sox yet another World Series championship. Game six, 10th inning, Red Sox leading 5-3. The New York Mets score three runs in the bottom of the inning concluding with Mookie Wilson’s slow ground ball down the first base line, which skipped under the legs of the Red Sox first baseman Bill Buckner allowing two runs to score for a Mets victory. The Mets would go on to win game seven and the World Series, extending the Red Sox World Series drought to 68 years. Bill Buckner would never get a second chance to make up for his error.

Much like in baseball, we in our professional and personal lives don’t often get second chances. Whether failing to plan for a disaster, widespread illnesses, inclement weather that may shut down your office for extended periods of time, or failing to respond quickly to a disaster in your community, you often only have one chance to affect or protect your business.

This issue of IN magazine is all about how you can improve or protect yourselves and your businesse, negating a need for second chances.

Contributing Editor Lisa Floreancig interviewed a visionary leader whose company went virtual during 2006 and proceeded to record its best year in the company’s history while increasing its premium by 15.7 percent. The company’s president and CEO needed to get this plan right the first time, planning carefully during the course of four years to set it in motion and execute. The result: a completely paperless company, and all but five employees working – happily and with greater flexibility and productivity – from home.

Also, many believe that enterprise risk management is a buzz word, but in reality it’s a business practice that’s gaining traction in the insurance industry. Rating agencies have begun incorporating ERM into their analyses of insurance company financial strength, and insurance leaders have begun formally documenting and presenting their ERM plans. We discussed this emerging trend with rating agencies and NAMIC-member company early adopters, and present the results of those discussions beginning on page 10.

We have also presented a package of stories on agency/carrier relationships. IN magazine contributing writer Dave Willis and writer Peter van Aartrijk present the relationships from all sides, including an analysis of the most important technology and consumer trends that will impact independent agents and their carriers during the next five to 10 years; an examination of how carriers can better leverage themselves and their businesses to boost their value and strengthen their relationships with agents; and how agencies, carriers, and customers can benefit from agent underwriters.

This issue is all about protecting yourself, planning, and staying informed so you don’t have to worry about second chances. Losing business because of poor planning or poor relationships with agents; losing business because of lost employees or employee hours; or losing business and/or business reputation because of how you respond to a catastrophe; your planning, your leadership, your technology, your innovation--…can ensure that second chances are a thing of the past.

Posted: Thursday, May 31, 2007 12:00:00 AM. Modified: Thursday, June 28, 2007 3:48:55 PM.

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We are 1,400 property/casualty insurance companies serving more than 135 million auto, home and business policyholders, with more than $196 billion in premiums accounting for 50 percent of the automobile/homeowners market and 31 percent of the business insurance market. We are the largest and most diverse property/casualty trade association in the country, with regional and local mutual insurance companies on main streets across America joining many of the country’s largest national insurers who also call NAMIC their home. More than 200,000 people are employed by NAMIC members.