Michael Stone, the chief operating officer of specialty insurer RLI Corp., is perfectly clear about the role of leaders in the property/casualty industry.

“At the end of the day, it’s all about talent. How do you get the right people, get them in the right places and get them ready to take on more. That’s really what leadership has to do—get the right people, and then spend money, spend your time and effort training them and getting them developed.