Insurance Speak (ALM)

The recent uptick in “nuclear verdicts” or “runaway verdicts” reflects the growing power of the plaintiff’s bar to influence juries and secure record-setting wins – a phenomenon due in part to social inflation, or the stereotype that large corporations are bad actors with deep pockets. The trend has far-reaching implications for the insurance industry, which often must shoulder the cost of such lawsuits along with the verdicts and settlements they produce, as well as the average consumer, who can count mounting lawsuit expenses as one of the reasons that insurance rates are inching ever higher. And of course, insurance carriers must defend against their fair share of lawsuits. In this episode of "Insurance Speak," James Whittle with the American Property Casualty Insurance Association dives into the impact of what the organization has dubbed "legal system abuse."

Lucy Straker and Jim Rizzo of Beazley break down the risk management and insurance implications of California’s Senate Bill 553.

Industry expert Danielle Hernandez discusses zoning regulations, leasing and coverage exclusions for cannabis-touching businesses.

Bryan Davis, EVP and head of VIU by HUB, explains what’s on the horizon for independent brokers, and how they can best serve their customers in the modern market.

Corvus Insurance CEO Madhu Tadikonda discusses the next generation of insurtech and the lessons learned from early tech entrepreneurs.

One of the secrets to creating a successful enterprise is hiring the right people.  Duck Creek's Courtney Townsend shares insights for creating a diverse and engaged workforce.  

Individuals and groups with shared occupations or preoccupations often have similar insurance and risk-management needs. That’s where affinity insurance marketing and sales come in, explains Ann Dieleman, executive director at the Professional Insurance Marketing Association (PIMA). Dieleman elaborated on the topic during this episode of “Insurance Speak.” In it, she talks about why affinity insurance programs remain crucial, and where they fit with the growing push for digital transformation.

Ken Huening, CEO of CoverSeal, discusses rodent-related vehicle claims and how drivers can proactively protect their rides from the climate change-driven increase in these incidents.

Charlie Sidoti, executive director of InnSure, joins
us to discuss the integral role property & casualty insurance has to play
in the National Climate Resilience Framework.

Jess Keeney, chief product & technology officer for Duck Creek, discusses how technology is changing the customer experience for policyholders.

Jen Martinez of VIU by HUB discusses how insurers
can integrate digital tools into customer service while still maintaining human
relationships.

Mark Debus, clinical manager of behavioral health at Sedgwick, discusses the impact of trauma response and compassion fatigue for insurance first responders.

Steve Tagert, North American environmental practice leader for Allianz, discusses some of the evolving environmental risks carriers are facing. 

Live from the Complex Claims & Litigation Forum in Las Vegas, Brittney Meredith-Miller is joined by Michael Pritt, Senior Claim Analyst with Pure Insurance, and Dr. Laura McGuire, CEO of The National Center for Equity & Agency to discuss the importance of trauma-informed care in claims handling and within agencies themselves.

In this episode of Insurance Speak, we’re joined by Katherine Frattarola, executive vice president and leader of HUB’s Private Client practice, to delve into the unique insurance struggles high- and ultra-high-net-worth families face when trying to properly protect their assets.

Todd Shasha, Assistant Vice President of Personal Insurance at Travelers, explains how boat owners can safeguard their
vessels from increasingly catastrophic weather events.

Bruce Eisler, Chief Executive Officer U.S. and Chief Underwriting Officer for Aspen Insurance shares insights on what he’s seeing in the industry, the factors insurers should be watching and the opportunities ahead.

Live from the Complex Claims & Litigation Forum in Las Vegas, Patti Harman is joined by Bob Tyson, the Strategic Managing Partner for Tyson & Mendes  Tyson addressed some of the factors behind an increase in the number of high-value jury awards.  The conversation was a follow-up to his keynote presentation at the conference..  

Hosts Patti Harman and Brittney Meredith-Miller are live from the showroom floor of the Complex Claims & Litigation Forum in Las Vegas with a preview of all the guests joining them from the conference.

Sara Kane, EVP, power and renewables practice leader at CAC Specialty, delves into insurance and risk trends in power and renewable energy in 2024.

6 students from St. John’s University Maurice R. Greenberg School of Risk Management, Insurance & Actuarial Science share their insights on attracting the next generation to the insurance industry in this Insurance Speak podcast.

Just ahead of RISKWORLD 2024, the annual risk management convention happening this year in San Diego, RIMS, the risk management society, announced the winner of its annual Risk Manager of the Year Award. Calls went out in the fall for this long-standing honor, which aims to raise the profile of the risk management profession as well as the outstanding programs that honorees have implemented within their organizations. This year's winner is Steve Robles, the recently retired assistant CEO for Los Angeles County. On this episode of Insurance Speak, Robles talks about the massive responsibility of managing risk for one of the largest counties in the U.S., along with what kept him up at night as a risk manager, and what he found most rewarding about the job. 

Green Check Verified SVP Peter Su addresses the financial factors affecting cannabis-touching entities.

Pathpoint CRO and President Ralph Blust shares his expertise on how the increase in destructive wildfires has shifted the market, and why it’s driving insureds to the E&S space.

Within the U.S. property and casualty insurance sector, Florida stands out as one of the first states to recently experience skyrocketing claim costs, shrinking coverage availability, and a crisis in premium affordability. The Sunshine State also has been deeply impacted by nuclear verdicts as well as insurance fraud. Making matters worse: Severe weather is a relatively common occurrence there. In this episode of "Insurance Speak," NSI Insurance Group CEO Oscar Seikaly shares his unique perspective on Florida's recent legislative efforts aimed at shoring up its volatile insurance market.

Scott Cornell, transportation lead and crime & theft specialist at Travelers, joins us to discuss strategic cargo theft and how to prevent these supply chain-interrupting crimes.

Roger Spears, Cybersecurity Project Manager for
Schneider Downs, discusses how businesses can perform a check-up of their cybersecurity practices and limit their vulnerability to online threats.

Andrew Schwartz and Keith Raymond of Celent co-authored a new study that examines many of the issues associated with the use of generative AI, and they share their insights in this podcast.

The economic impact has been severe from concurrent labor strikes by the Writers Guild of America and the Screen Actors Guild — American Federation of Television and Radio Artists. While the former announced a tentative agreement recently, actors continue to strike. In this episode of the Insurance Speak podcast, insurance executive Bill Johnson, who once produced major motion pictures, discusses common film and television production risks, coverages and claims.

Live from the America's Claims Executive Leadership Forum & Expo, host Patti Harman is joined by Jodie Hopkins of Westfield Insurance.  Hopkins discusses lessons learned from managing remote teams through the pandemic and why hybrid teams are here to stay.

Kathleen Bonczyk, founder of the Workplace Violence Prevention Institute, discusses the role insurers can play in reducing workplace violence.

Lumen Technologies’ Tara Acton shares the secrets behind their award-winning program

Office romance can be dicey. The prospect of coworkers dating is so rife with liability concerns, that some companies simply forbid it. Nonetheless, on-the-job romances are increasing in 2024, according to the workplace consultancy SHRM. On this episode of Insurance Speak, Chris Williams, the employment practices liability product manager at Travelers, shares potential scenarios in which close interpersonal interactions become a legal and liability minefield.

Casey Cunningham, founder & CEO of Xinnix, explains how insurers can drive their sales teams toward greatness, even in a tough market.

Alex Kaplan, executive vice president for alternative risk at Amwins Group, discusses how parametric insurance differs from traditional insurance and the benefits it provides to policyholders.

Meg O’Toole Herman, agency owner with Goosehead
Insurance, shares her advice for helping insureds prepare their homeowners' policies for a potentially active hurricane season. 

Andrew Lipton, head of cyber claims at AmTrust Financial Services, outlines what a cyber attack looks like from a company’s perspective.

Insurance is a complex business. When it comes to professional liability coverages, the public at large has at least a basic familiarity with medical malpractice insurance. Most people have doctors, and it grabs headlines when a doctor or health care facility makes a mistake.

But in fact, there are many different types of professions other than medicine that benefit from liability insurance, which is also known as errors and omissions insurance. Most any professional whose counsel or service could lead to potentially negative outcomes for customers, should carry some degree of professional liability insurance.

In this episode, Argo Pro President Mary Henderson talks about about the state of the professional liability insurance market — one of the few areas within the P&C sector that's not experiencing a hardening.

Managing general agents and underwriters occupy a distinct space in the insurance world due to their broad policy oversight and administrative responsibility. Many MGAs must lean on limited resources while delivering an entire insurance experience, from underwriting to claims resolution. This is where technology solutions such as AI-powered automation can have a far-reaching impact. On this episode of Insurance Speak, Michael Parcelli, senior vice president and head of the MGA business at Xceedance, discusses the ability of AI to drive efficiency and profitable growth at MGAs.

Executives from Lumbermans Mutual Insurance Co, Zurich Insurance and The Jacobson Group discuss the challenges and solutions for attracting new talent in this edition of Insurance Speak.

This week, we revisit a conversation with Todd Shasha of Travelers about how boat owners can protect their vessels from catastrophic weather events.

In the latest installment of Insurance Speak, Tom Fitzgerald, president of QBE North America’s Specialty & Commercial insurance business discusses threats to middle-market companies.

John Fitzgerald, Lynne Weeks and Dan Curran of Amwins join us to discuss risk in the hospitality industry as peak season approaches.

Travelers executive Chris Williams explains some of the factors related to this increase. 

Live from the Complex Claims & Litigation Forum in Las Vegas, Brittney Meredith-Miller is joined by Tracey Thompson, Deputy Executive Director of the Coalition Against Insurance Fraud to discuss strategies for identifying and preventing fraud.

Small businesses face numerous challenges to success and Pie Insurance CEO and co-founder John Swigart share how they’re using tech-enabled insurance to serve this unique market.

Andy Moss and John Ellison of Reed Smith discuss
insurance and cyber risk management practices for car dealerships in the wake of the CDK Global cyber attack.

 Editors from ALM's legal, financial and real estate publications discuss the creation of a new one-stop resource for business owners designed to help them find answers to many types of business questions.

Tracey Santor, Assistant Vice President and Product Manager for financial institution bonds at Travelers, details some of the activities involved in social engineering attacks

As the world’s premiere athletic event, the Olympic Games tend to be a joyous and celebratory affair. However, the sheer scope and scale of the games leaves them open to the unexpected, and the history of the Olympics is not without violence. This episode of Insurance Speak features Chloe Gordge, head of Marke's terrorism portfolio in London. Gordge talks about the unique challenges of curbing political violence in Paris during the upcoming Olympic games.

For this episode, we revisit a conversation with Bryan Davis of VIU by HUB about what’s on the horizon for independent brokers and how they serve their customers.

CEO of NEXT Insurance discusses his 2023 predictions for the insurance industry and how NEXT's business model differs from other competitors in the space.

Mark McKinney, Vice President of Market Intelligence at Gryphon.ai, joins us to discuss how insurers may need to adjust their practices in light of new robocall regulations.

Supply chain issues from the pandemic and two major hurricanes just weeks apart have affected the rebuilding efforts across much of Florida

QBE's Charles Greer highlights what factors risk managers need to consider and explains how inflation is affecting property valuations.

Live from the America's Claims Executive Leadership Forum & Expo, host Patti Harman is joined by Matthew Smith, executive director of the Coalition Against Insurance Fraud.  Smith walks insurance executives through the frauds that emerged during the pandemic.

Live from the Complex Claims & Litigation Forum in Las Vegas, Brittney Meredith-Miller is joined by Peter Crosa, Executive General Adjuster at Peter J. Crosa and Co., LLC, and Timothy Dowden, Senior Vice President of J.S. Held to discuss how insurers can more effectively mitigate and address severe weather claims.

In this episode of Insurance Speak, we’re joined by Kathleen Bonczyk, founder and executive director of the Workplace Violence Prevention Institute, to discuss how companies can mitigate employee violence and the part insurance companies could play in stopping these incidents.

Insurance claims consultant Chris Tidball addresses some of the possible litigation and insurance issues surrounding this undersea disaster.

In this interview, Heidi Moore, an insurance agent with Country Financial and host of the "Wine Crush Podcast," discusses common claims that arise from wine, beer and cider businesses. She also shares advice for both insureds and insurance professionals for navigating the adult beverage business, its risks and applicable coverages.

Live from the Complex Claims & Litigation Foruhm in Las Vegas, Patti Harman is joined by Rich Wickcliffe, the Complex Claims Manager for Frontline Insurance.  Rich discusses strange claims he's Investigated in a recap of his closing keynote presentation.

 David Cummings, partner in the Insurance Recovery Group at Reed Smith, joins us to discuss how a recent influx of gaming addiction lawsuits may impact the insurance industry.

In 2024, cyber insurance prices are down and coverage options have expanded as carriers become ever more savvy regarding cybersecurity measures. Here, we look at how far the cyber insurance market has come over the last two years, with insights from Flow Specialty's midyear Cyber Insurance State of the Market Market Report, as compared to this archival interview with a HSB cyber expert.

Industry expert Chantal Roberts discusses the complexities of cannabis-related property and product claims.

Despite laws that make it illegal to discriminate against employees or job applicants based on their age, it still happens far too often.  The AARP reports two out of three workers between 45 and 74 have witnessed or experienced ageism in the workplace.

In this episode, workplace ageism expert Patti Temple Rocks joins us to discuss how to recognize and squash ageism in your organization, as well as how to utilize your more experienced professionals.

Coalition’s Patrick Mitchell discusses some of the threats small business executives face and how technology is amplifying those risks. 

An increasing volume of insurance claims has pushed insurers toward new technologies in order to keep up, but one area where we often neglect to discuss insurtech is marketing. This week, Ifty Kerzner, co-founder and president of insurance marketing operating system Kissterra, joins us to discuss how insurers can tap into new tech resources and streamline data to boost customer acquisition and satisfaction.

Tom Eggleston, international claims leader in the UK and Europe for Resilience, discusses the cyber vulnerabilities and issues insurers should focus on for themselves and their policyholders.

Insurance brokers who operate in the environmental liability space, and companies with potential pollution exposures, tend to be up-to-date on the research and risks linked to "forever chemicals," or the cancer \-causing compound per- and polyfluoroalkyl substances (PFAS or PFASs). These chemicals remain popular in American manufacturing. While litigation history is still being written about PFAS, environmental insurance brokers can look to the contaminant for clues as to how future pollution liability claims may play out. What new pollutants are they concerned about? One that comes to mind for Emily Bourdeau, vice president of the environmental practice within NFP's Specialty division, is 6PPD-quinone. Used to strengthen tires, this chemical was recently found to be toxic after it breaks down from wear-and-tear and ends up in public waterways.

Cindy Charleston-Rosenberg of Art Appraisal discusses how appraisers determine the true value of collections and collectibles for insurance and other purposes.

With cyberattacks at an all-time high, Tim Zeilman of HSB discusses the risks carriers and their clients should be watching in the coming year.

Live from the America's Claims Executive Leadership Forum & Expo, host Patti Harman is joined by ACORD CEO and president Bill Pieroni.  Pieroni shares insights from two years of dealing with the pandemic and what trends the insurance industry is likely to see going forward.

Chubb’s Hemant Sarma discusses how insurers are using technology to prevent and mitigate risk.

Andrew Sabolic of the WCI discusses the organization’s work and what makes an excellent workplace safety program.

Will Nichols, head of Verisk Maplecroft's global environmental and climate research team, and Bill Churney, president of AIR Worldwide, discuss the expanding risks identified in Verisk Maplecroft's recently released Environmental Risk Outlook.

The pandemic, the great resignation and work-from-home options are creating new stresses. Industry expert Cathy Ellwood helps managers identify the stressors and symptoms of burnout.

Influencer. It’s a word and an idea that a decade ago seemed like a fad. But thanks to the cross pollination of niche communities on the internet and digital-marketing smarts, today’s social-media celebrities are hotter than ever. Such "influencers" have built an industry that’s worth millions and hold sway over significant segments of humanity. With all of that influence comes murky and often misunderstood risk, liability and insurance concerns. On this episode of Insurance Speak, Katie Pope, vice president of Executive Lines at The Liberty Company Insurance Brokers, illuminates the growing legal and liability concerns surrounding social-media influencers.

Artificial intelligence has the ability to sort through and synthesize vast amounts of data, but with that benefit come increased risks for users and their insurers. Andrew Schwartz, an analyst with Celent, and Etay Maor, senior director of security strategy for Cato Networks, take a deep dive into the pros and cons of this new large language model.

Surplus lines insurers in 2023 reported another year of improved underwriting and operating results, with most performance metrics outpacing the broader P&C industry, according to the annual wholesale insurance market report card compiled by AM Best and the WSIA Education Foundation. The report's authors say this indicates just how essential wholesale insurance options have become. "The wholesale and specialty channel is there to provide solutions when the standard market either cannot or will not take on the risk," WSIA President and CEO Brady Kelly said on this week's episode of Insurance Speak. Kelly sat down for an interview in the run-up to his organization's 2024 Annual Marketplace, an event in which thousands of insurance professionals converge in San Diego to fortify business relationships and forge new ones.

In our 100th Episode, Matthew Smith from the Coalition Against Insurance Fraud outlines a new study that examines how bad actors commit fraud and then justify their actions.  

When it comes to complex claims, an array of factors can contribute to their intricacy including: numerous stakeholders, the involvement of several insurers or reinsurers, and the possibility of litigation. Claim complexity often arrives when determining liability and how or where coverage will apply. Understanding these issues can reduce mistakes and help insurers be more proactive. In this episode of "Insurance Speak," we talk with Ruben Pinto, director of large loss casualty at Allstate. Pinto is scheduled to give a keynote address during the Complex Claims & Litigation Forum happening Feb. 26-28, 2024 at the Green Valley Ranch Resort in Las Vegas. Here, he provides a sneak peek at his upcoming speech.

Eloisa Lewis and Shawn Magill of New Climate Culture discuss the ways in which agricultural operations and communities at large can improve their disaster resilience through biodiversity and permaculture initiatives.

Independent risk manager Jeff Marshall details an
emerging risk for occupations involving changing shifts: Shift work sleep disorder and its impact on brain function.

In this episode of Insurance Speak, Rahul Kumar, Vice President and General Manager of Financial Services at Talkdesk, joins us to discuss how insurers can create and nurture loyalty by enhancing the customer experience.

The impact of work-related stresses can be cumulative. CorVel's Karen Thomas advocates for proactive solutions.

Hippo Insurance's Rick McCathron discusses their business model and how the company is harnessing data and technology to help owners better protect their property.

The risk landscape for small and midsize businesses (SMBs) markedly changed over the last five years as enterprises first adjusted to the shutdowns and distanced interactions dictated by the COVID pandemic, and then as lasting societal shifts (like the rise of remote workers) settled into daily life in the time since the pandemic. The insurtech firm Bold Penguin set out to better understand these business changes and what they mean to insurance professionals and organizations, in order to better direct and advise its industry partners. In this episode, Bold Penguin Vice President of Carrier Operations Nicole Farley talks about the growing commercial-insurance opportunities for agents and brokers along with other insights from the company’s new report, “The Evolving Risks of Small Businesses.”

Bryan Falchuk, Managing Partner, Insurance Evolution Partners, discusses the importance of partnership between legacy insurers and insurtechs based on research from his latest book.

CoreLogic is a global property information, analytics and data-solutions firm, recently compiled a review of the most impactful storms, wildfires and natural disasters of the past year. During 2023, catastrophes such as severe hail across the central and southeastern U.S., hurricanes Idalia and Hilary, which battered the Florida Gulf and California Coasts, and devastating wildfires on Maui all caused widespread destruction and loss. Add to that severe thunderstorms, which are also called severe convective storms, to round out the year’s most damaging weather events. In this episode, CoreLogic Catastrophe Response Director Jon Schneyer talks about recent weather trends in order to pinpoint the environmental and climate trends that insurance pros and risk managers should monitor during the year to come.