Knowledge

  • Many years ago I was sitting in my class at Harvard Law School, next to Ralph Nader who was a member of my class. Who knows how your paths will cross again.
    • Thirty years later, I am not sure I understand the insurance business even after having spent 30 years in it.
    • Nader, having spent no years in it, understands it fully.
  • Some parts of our knowledge base, I think, we should exchange.

--  Larry A. Brossman, Duff & Phelps

1990 - SOA - Rating Agencies And Asset/Liability Matching, Society of Actuaries - 18p

  • When there is so much to be known, when there are so many fields of knowledge in which the same words are used with different meanings, when everyone knows a little about a great many things, it becomes increasingly difficult for anyone to know whether he knows what he is talking about or not.

T.S. Eliot, "The Perfect Critic," The Sacred Wood

2000 - LR - After Fabe: Applying the Pireno Definition of "Business of Insurance" in First-Clause McCarran-Ferguson Act Cases, by Peter B. Steffen - 27p

  • The downside of having only a few people involved is that the company is relying on these few people who are experts, and at some point that knowledge must be passed on to others.

--  Phillip J. Grigg, PRUCO Life / Prudential

1987 - SOA - Product Development Process -- Bringing New Products To Market Quickly And Efficiently, Society of Actuaries - 22p