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Old 04-01-2013
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Re: Boat Insurance Rate Increase

Not sure that I would agree with the assertion that insurance companies do not always win...

Boat US issues insurance policies through Continental Casualty Company. Mr. Peter E. Jokiel, age 65, serves as the President and CEO of Continental Casualty Company. Mr. Jokiel has been Chief Financial Officer, Treasurer of Specialty Underwriters’ of Alliance Inc. since December 2003 and its Executive Vice President since June 2004. He serves as Principal Accounting Officer of Specialty Underwriters' Alliance Inc.

Mr. Jokiel also serves as the Chief Financial Officer of Continental Loss Adjusting Services Inc. He serves as a Senior Vice President of Continental Assurance Company.

From April 1997 to January 2001, Mr. Jokiel served as the President and Chief Executive Officer of CNA Financial Corporations life operations. From November 1990 to April 1997, he served as the Chief Financial Officer of CNA Financial Corporation, or CNA. Prior to that time, Mr. Jokiel served in various senior management positions at CNA and was an accountant at Touche Ross & Co. in Chicago.

Now, 2012 was a bad year for the insurance industry, and the boat insurance industry in particular.

For 2012, the CEO of CNA Financial corporation was paid; $742K in salary, $1.1M in bonus, and received $8.3M in stock options... If I made $742K a year, I would think that I won the lottery. If I made $8.3M in options... CNA's executive compensation is in the lower third of this industry...

It sounds to me as if Mr Joikel, CNA, and the other two thirds of the insurance industry are doing quite well.

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USCG Licensed OUPV Captain, ASA 101/103/104/105 Certified Instructor - Also certified in Recreational Marine Electrical Systems

Last edited by eherlihy; 04-01-2013 at 01:40 PM.
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