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.

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.

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

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.

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.

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.

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

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.

 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.

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.

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

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. 

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.

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.

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

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.

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.

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."

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

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.

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

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.

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

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.

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.

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

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.

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.

Business leaders in the U.S. and the U.K. are increasingly insecure about their organizations’ ability to respond to geopolitical risks such as war or inflation, according to a 2022 survey.

What are some of their top geopolitical concerns? The ongoing war in Ukraine, NATO relations, cyberattacks, U.S.-China relations, climate risk, and energy insecurity are among the issues that continue to have widespread economic implications.

And here is some more sobering news for insurance and risk advisors: Mass shootings in the U.S. have become “downright commonplace,” according to one of the country’s major news outlets.

The U.S. saw 690 mass shootings in 2021; 647 of them in 2022; and 476 active shooter events as of Aug. 29, 2023, according to the Gun Violence Archive.

This is the environment in which Andrew Umphress was recently appointed head of terrorism for North America at Markel. There, he will help an already seasoned global underwriting team as well as the firm’s clients assess and navigate risks in the evolving war, terrorism, and political violence landscape. Umphress recently appeared on the Insurance Speak podcast to talk about the evolving geopolitical landscape and how it touches the insurance world.

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.

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.

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.

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.

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

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.

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

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.

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.

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.  

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

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

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

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

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.