The Rating Expert Who Negotiated with Russa

If you haven't seen "Bridge of Spies" yet, try to catch it. It's a great film. Many alums may not realize the hero of the film,
Jim Donovan (played by Tom Hanks), not only was instrumental in securing the release of U-2 pilot
Gary Powers from Russia, but also enjoyed an impressive insurance career. Among other things, he was counsel
to the National Bureau of Casualty Underwriters (a forerunner of ISO) during the late 1940s and was active in drafting
the all-industry rating law which the NAIC promulgated in response to the Supreme Court decision in
United States v. South-Eastern Underwriters Association. That Supreme Court decision threatened to end
regulation of insurance rates by the states and led to the McCarran-Ferguson Act of 1945. Thanks to
NYSID alum Anne Kelly for bringing Jim Donovan's insurance regulatory background to
our attention. Now you know the rest of the story!