We all are familiar with stories of agents who have been innocently involved because their clients submitted a false or inflated claim to a carrier. Maybe because our industry seems so big and mysterious to policyholders, it’s easy for some to misrepresent a loss and consider their falsehood to be “no big deal.” It’s a sad circumstance that may cause agents to become jaded, expecting the worst of our clients. Yet it’s understandable, considering the Insurance Information Institute estimates that fraud accounts for 10 percent of the property/casualty insurance industry’s incurred losses and loss adjustment expenses, or about $30 billion a year. This is why I am so pleased to share a recent experience that renews my hope for the next generation.

I have a long-time client who gave her son a very expensive diamond ring (a family heirloom) to give to his girlfriend when he and the young lady became engaged. The replacement cost of the ring was in excess of $50,000 and it was insured for that value. A few weeks ago, I received a phone call that’s all-too familiar for many of us. My client’s daughter-in-law was crying hysterically because the stone was missing from its setting. She conveyed to me that work had been done in her apartment recently and she wondered if it could have been stolen. Since we weren’t sure this was the case, I asked her to check her clothing and take a few days to look around the house. Low and behold, three hours later, she called me to let me know she found the stone shining on the floor of her laundry room. Happy and relieved, she implored me to please not to file a claim, as she had found her stone. I, of course was thrilled for her, but also, I was impressed. How many people in today’s economy would have done that? I know I sound skeptical and suspicious, but after more than 40 years as an insurance agent, I can honestly say it’s a pleasure to see such honesty still exists.

There’s another lesson from this story, which is not unique. Here’s a young woman, under the age of 35, who recognized and did the right thing, simply because it was the right thing to do. I am proud to say we have a great generation of people on the horizon and I’m encouraged by the quality of character of our young people. Another source from which I glean hope for our future is in the membership of PIANY’s Young Insurance Professionals. We hear much about the graying of our industry, but a phenomenon has emerged recently and the NY-YIP membership is actually on the rise. Maybe even more impressive is the fact that the group’s active membership has more than doubled over the past six years! That’s encouraging because it shows that the industry does, in fact, have the potential to perpetuate itself, and that young professionals in our industry are volunteering because they recognize it’s the right thing to do. In a time when we hear constantly about the lack of young talent, it is reassuring to see NY-YIP meetings and events so well attended and supported. They work hard to offer quality education and solid opportunities for professional development. And, their terrific enthusiasm to participate and become active is an example to some of us who have been around for a while: They are as committed to the industry’s future as we have been. Best of all, YIP energy is infectious.

Good. We have a great generation of up and comers. They are doing their jobs. But, encouraging them and helping them to stay and grow with our industry is the job of those of us who are more established and who have benefited from the industry ourselves. And, the NY-YIP organization is constantly reaching out to us for the support and guidance of those of us who are more established in the industry. One thing I know is that giving back; by way of volunteering in our communities and our trade associations, benefits agents far more than their commitments benefit those to which they donate their time. Ask any agent you know who serves on the board of PIA or CIB or IIA; those who get involved gain far more than they give. At the risk of preaching to the choir, I want to remind the leaders of the associations that they have another responsibility: Bring in and develop new blood! Using your experience and talent bring new perspectives to the table and makes sure the crème of our industry rises to the top. Identify your best employees and encourage them to join groups like the Young Insurance Professionals. Their future is your job and your legacy. And for those seasoned professionals, who are not involved in our industry associations, think about giving back—it may take only a few days a year and our associations really need you.