Edward M. Liddy grew up in New Brunswick, New Jersey, earned a bachelor's degree from Catholic University of America in 1968 and a master's in business administration from George Washington University in 1972.  He then began a long career in corporate America, including stops at the Ford Motor Company in Detroit, drug maker G.D. Searle & Co in Skokie, Illinois, and Allstate Corporation in Northbrook, Illinois.

During Edward Liddy's apprenticeship in the buccaneering life he was exposed to the most influential teachers and lasting experiences.  While at Searle, Liddy who was CFO worked for a CEO , Donald Rumsfeld, who has always epitomized the height of arrogance as demonstrated by a successful buccaneer.   When he was at Allstate, Liddy presided over the company during and after hurricane Katrina, and Liddy observed first hand the effects of over exposure to risk and subsequent loss of trust when Allstate was faced with the massive losses suffered by homeowners in New Orleans, and Allstate subsequently canceled insurance policies and exited the business of insuring homeowners against casualty, lucrative as the business might have once been and could be.

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