The insurance business, for Courtney Wood, has changed from
one with a primary emphasis on sales to a primary emphasis on
"I have been involved in this business for almost 40 years.
The more it changes, the more it stays the same in some regards,
but by the same token, it is so different today than when I got
involved that it is hard to recognize it," he said.
Wood is recipient of the 1994 Journal Record Insurance Service
Award, the 11th such award, which was presented Oct. 13.
He also was recipient of the first Journal Record Insurance
Industry Service Award in 1984.
Much of the counseling solicited by his business clients now
regards fiduciary liability, wrongful termination and the myriad
of other potential liabilities that face businessmen and
businesswomen who hire employees, he said.
Wood was an active teacher of insurance courses at the
University of Central Oklahoma when he received the first Journal
Record service award.
"Since that time I have had to give up that activity simply
because my travels have made it impossible for me to keep up with
a regular teaching schedule. I had to give up my teaching at the
University of Central Oklahoma," he said.
"I have been doing an awful lot of lecturing around the
country, but I don't guess you could call that teaching. Since
that time (1984), I have appeared at least once in every state in
the union on matters related to insurance and risk management
before groups ranging from 25 to 5,000."
Teaching has had to take a back seat due to his travels, but
Wood said he may get back into it.
Involvement in some of his civic activities also have been
limited by his professionally related travels in recent years,
He has been remained involved in the Oklahoma City Young Mens
Christian Association, Edmond Chamber of Commerce and Edmond
Presbyterian Church in limited capacity, he said.
Wood also has started his own independent agency, Courtney
Wood Associates, since being named recipient of that first
Journal Record award. He also is affiliated with the Universal
Insurance Agency Inc. of Moore and Edmond.
He started the first Courtney Wood Associates independent
agency in 1976 and had premiums of more than $3 million before
selling the business in 1979 to Marsh McLennan and becoming
vice president of that firm.
Until his tenure ended Nov. 1, Wood was national president of
the Independent Insurance Agents of America.
His travel calendar has had 250 days marked on it during his
nearly 14 months as president of that group, he said.
"I have made lots of trips to our nation's capitol and lots of
visits to our state association's headquarters," he said.
Many of those trips were related to pending legislation in
Congress in which the association's membership has an interest,
"The issues this year would have to be almost a laundry list,
and heading that list is the medical insurance reform effort and
all the disciplines associated with it. That included an effort
to repeal the McCarran-Ferguson Act, an act that is 49 years old
that provides limited immunity to insurance companies to
collectively collect data and create rates.
"The proposed legislation to reauthorize CIRCLA, also known as
the Superfund, has been paramount in the thinking of a lot of
people, the agriculture bill with regard to the purchase of crop
hail insurance, and we've been looking at the red lining efforts
and information determination by (U.S.) Rep. Cardiss Collins,
D-Ill.," he said.
Another important piece of legislation to members of the
association is a bill introduced by U.S. Rep. John D. Dingell,
D-Mich., to make any firm engaged in the sale and distribution of
the insurance product subject to the rules and regulations of the
jurisdiction in which they do business, he said. …