More Than Just Insurance

 

A recent article published by AccuWeather begs the question why hurricane warnings are ignored? In the Northeast, Hurricane Sandy taught lessons to everyone about how we are not impervious to such weather calamities, curled up on our sofas watching footage on TV of almost every other part of the country being ripped apart by tumultuous storms. There were neighborhoods in New York and New Jersey that were completely decimated, but it was because storms of this caliber hardly ever happen here, many did not listen to the warnings.

Plymouth Rock Assurance (PRA), owned by New York City-born, Harvard-educated, American business executive, James Stone, is part of the Plymouth Rock Company of which Mr. Stone is the chief executive. PRA operates in New Jersey, and in a recent AccuWeather article, Gerry Wilson, the President and CEO of Plymouth Rock Management, reminded everyone how important it is going forward to heed the warnings and evacuate upon request. He did make mention of the fact that the people of New Jersey were very resilient when recovering from those storms, but he also reminds everyone there are lessons not to be forgotten, and ways to do things better going forward. 

James Stone, during his time at Harvard, consulted in the insurance industry. He completed six examinations at that time as well, eventually gaining admission to the Casualty Actuarial Society (CAS). In fact, a paper he wrote on insurance of catastrophic risk became a requirement of the CAS for incoming candidates seeking admission. This would become the very auspicious beginning for Mr. Stone of a career in the insurance industry marked by much success. According to the executive’s Wikipedia page, James Stone also co-founded Cat Limited, which is a reinsurance firm in Bermuda. Reinsurance ultimately serves to make sure that the insurance industry remains solvent. 

Solvency certainly does not seem to be an issue for PRA. They stood by the residents of New Jersey through some terrible times. The corporate logo states that they are “more than just insurance.” They are indeed more than that, and with the perilous effects of storms that have pummeled New Jersey, the third link down on their website landing page is catastrophe center. The residents of New Jersey are lucky to have Plymouth Rock, as they seem to be more like a much-needed partner than just another insurance company.