Restructuring expert sheds light on insurance industry’s ‘period of correction’
The wave of layoffs and restructuring among large insurers such as GEICO, Liberty Mutual, and Farmers Insurance has driven concern about the state of the industry.
At least one corporate restructuring expert sees this trend continuing for several years as carriers undergo “a period of correction.”
“We’re in a very transitionary period, both in our economy and in the risk factors that have been playing out for a long time,” said Scott Stuart (pictured below), CEO of the Turnaround Management Association (TMA), a globa