You have to read all the way to the end of a light-hearted story in the Wall Street Journal on Saturday to catch this: insurance brokerage firm Philadelphia Consolidated Holding Corp. (NASDAQ: PHLY), run by James J. Maguire Jr., is in negotiations to sell a unique kind of cancellation-insurance coverage to the organizers of the New York City Marathon next year. (This year's race took place yesterday, covered by somebody else for the first time). The WSJ portrays this kind of insurance as a new trend -- marathon organizers everywhere considering extra coverage because of a recent spate of race cancellations, which some people actually link to global warming. Anyway, not clear if this is actually a trend, or if global warming is the culprit. But WSJ writers Aaron Lucchetti and Liam Pleven do unearth this anecdote about NYC organizer Mary Wittenberg and Maguire:
At a pre-race dinner this week of blackened grouper and flourless brownies, she mentioned the new policy to James J. Maguire Jr., a marathon runner who also happens to be chief executive of an insurance company, Philadelphia Consolidated Holding Corp. "We could have saved you some money," Mr. Maguire said. ... Ms. Wittenberg -- like the competitive marathoner she used to be (a bum knee sidelines her these days) -- says she plans to follow up with Mr. Maguire about his offer after the race. "The negotiations are on!"
By the way, unclear if Maguire actually ran yesterday. His name does not appear to be one of the many Maguires listed among the finishers.
