ICT Executive Director's Message
Together, we are facing a truly unprecedented time -- one that impacts our families, our communities, our business and our way of life. During this time, I wanted to provide you with an update on our approach to this situation along with the work we continue to perform here at ICT.
Let me begin by saying that our thoughts go out to anyone who's been impacted by the virus here in Texas, our nation and the world. We’ve all been inspired by the selfless care provided by healthcare professionals and other essential workers. To those individuals we are ever grateful.
Here at ICT, almost all our employees continue to work from home delivering the highest levels of performance, responsiveness, and being ever vigilant regarding data security. While the State of Texas has removed the stay-at-home orders, we will embrace caution as we develop a thoughtful return to work process. We take pride in representing member companies who have taken steps to help our policyholders, including payment relief, premium refunds, safeguarding the health and safety of their employees, and philanthropic donations to food banks and other charitable organizations that support communities where we live and work.
Today, however, as a result of the COVID-19 pandemic, the P&C industry finds itself in the midst of critical operational, legislative, regulatory, and litigation issues. Each day, we are bombarded with questions about coverage for business interruption insurance and allegations that the industry is not honoring its contracts. Nothing could be further from the truth and some of the ideas being floated would severely damage the solvency and stability of this industry.
To that end, we are working closely with other state and national trade partners and our board of directors and committees, engaging with the media, reviewing and responding to legislative and regulatory activity, and we continue to monitor ongoing issues that may impact the strength and sustainability of our industry. To help keep our members and others updated, we created a COVID-19 resource website that captures information important to the insurance industry.
The COVID-19 pandemic has also required that we re-examine the feasibility of hosting our upcoming ICT/AFACT Property and Casualty Symposium scheduled for July 16 and 17. Although Texas has begun taking gradual steps to re-open, we have to consider the health and safety of our attendees, members, vendors and employees, as well as ease of travel and our member companies’ approach to re-opening their businesses. After careful deliberation, we are rescheduling the ICT/AFACT P&C Symposium to October 5 and 6, 2020. The event will still be held at the Hyatt Regency in Austin and we look forward to once again seeing our friends and colleagues here in our state capitol.
On behalf of all of us at ICT, we’re committed to being your partner and industry voice in the days and years ahead. As we go forward, we’ll be sure to keep you updated, and know that we always value your questions, ideas and feedback
Thank you for your continued support. May you and yours remain safe.
Albert Betts Jr.