Evan Greenberg: No. getting enough rate is — that’s what we have to do. But that doesn’t solve the problem for American trucking, which we need a healthy trucking industry. And you certainly want to take the inflation out of shipping rates. And this all contributes, you end up paying for it. It’s really a state-by-state solution, and that — how they — the amount of awards that are handed out. And by the way, look at simple laws like, who is responsible in a liability event and how it varies by state. There are states where you may have 1% responsibility. And you’re the deep pocket, and you are allocated 100% of the cost. There are states that — where there’s a comparative negligence, both parties are at fault and look at how it varies, how they determine who is ultimately adjudicated to pay for the cost.
When you look at those right there, you can see a part of the problem that is occurring. Particularly where trucking company is 1% or considered 2% at fault. Again, they’re adjudicated 100% of the payment suffering and injury of that individual. That’s a state-by-state problem. Look at litigation funding and look at what — how many states require that you simply disclose who’s funding the lawsuit. Because that has an impact on how injury will then view the injured party. They always march out the most sympathetic individual but is it all about sympathy to the individual? Or are they used as a prop to actually get a big payday for somebody who’s funding the lawsuit. That’s a state by state. And if you were looking for a federal solution, my God, we can’t even agree on a budget and we can address the deficit or entitlement spending.
Morgan would address this when the trial bar is funding half of Congress.
Brian Meredith: Thanks for the answer.
Operator: Your next question comes from the line of Mike Ward with Citi. Please go ahead.
Michael Ward: Thanks. Good morning. I was just curious if you had any kind of commentary around financial lines and in North America. I’m wondering if you have any sort of expectation for pricing to bottom out.
Evan Greenberg: No. I don’t have an expectation. I think when all of a lot of that naive hungry capital that is trying to make some money for themselves at the expense of the balance sheets that are funding it, when that all gets tired and loss cost catch-up, which is not far off with the level of pricing being charged, then there’ll be an adjustment and Chubb is there, and we’re a large writer of the business. And I don’t know any boardroom where they wouldn’t rather have Chubb all things being equal, handling their D&O. And by the way, another problem that’s brewing as you look at the number of mouths to feed that get on a D&O tower right now. And as the losses come, good look, in many instances, I wish the brokers well in collecting from each of those players who now have remarks, because they wrote the business and now they have to pay the claims and they’re losing money.
But all that happens, we’re just — this is the business. There are pockets of the business that are done at times, and it’s just one of those moments fine. We’ve got plenty else to do.
Michael Ward: Thanks very much.
Operator: Thank you. I will now turn the call back over to Karen Beyer for closing remarks. Please go ahead.
Karen Beyer: Thank you, everyone, for joining us today. If you have any follow-up questions, we’ll be around to take your call. Enjoy the day. Thank you.
