The Importance of a Budget in Insurance

If the business falls away, in terms of price, we won't be doing business. We will have times that are very good for us in insurance. It's a lot like investments. If you feel you have to invest every day, you're going to make a lot of mistakes. You have to wait till you get the fat pitch. And in insurance, it's similarly you do not. I could tell some operation that wrote 100 million last year to write 500 million this year, and they would meet it. So it's a very illogical way to try and plan 8 or 10% a year growth.