A postcard from Namic

The North American mutual market is a paradoxical place - ripe
for disruption and afflicted by a creeping cost base, but still
reluctant to change.
Last week, the market converged upon Vancouver, Canada for the
annual National Association of Mutual Insurance Companies (Namic)
conference.
As many as 1,200 carriers attended, ranging from insurers with a
premium base of less than $1mn to mutual giants such as State Farm,
which earned $59bn of P&C premiums last year.
Despite rising costs and...