Insurance Business America 9.07

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IBAMAG.COM ISSUE 9.07 | $12.95


Brokers reveal the carriers that are going the distance in a difficult market THE BEST OF INSURANCE LAW

Meet 78 law firms and lawyers who can tackle the industry’s biggest issues

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From artificial intelligence to drones, the latest tech that’s transforming the claims space


What opportunities has the pandemic opened up in the high-net-worth sector?

02/07/2021 3:28:32 am

PASSIONATE&SINCERE Randi Last Burns & Wilcox Las Vegas, NV Agent since 2018

Meet Business Partner ID #2691. Or as we call her, Randi.


“Everyone needs a fairy godmother,” Randi says. For her, that includes playing the part at volunteer events for children. “I’m just there to make them smile.” At Nationwide, that’s how we feel about our partners. In putting the best of E&S together, it’s like we have our own magic wand.

Hear more of Randi’s real-life fairy tales and how we are

PA S S I O NAT E & S I N C E R E about making E&S wishes come true at E&S | AM Best rating of A+ (Superior) | FSC XV | Fortune 100 company

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ISSUE 9.07

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UPFRONT 02 Editorial

Inaction on climate change could cost the industry dearly

04 Statistics

Key data that should be on your radar this month FEATURES


The pandemic has left the highnet-worth insurance segment with new avenues for growth




In a market defined by rising rates and reduced capacity, brokers tell IBA which carriers are consistently coming through for their clients



The competitive spirit Trindl Reeves honed as an Olympic track hopeful laid the foundations for her current role as Marsh McLennan Agency’s chief sales officer



06 News analysis

As the Tokyo Olympics forge ahead, what are the event’s biggest risks?

08 Intelligence

This month’s big movers, shakers and new products

10 Workers’ comp update

Why are burn injuries leading to such extreme loss costs?

12 Technology update

How cloud computing can transform the risk modeling process



IBA names the go-to legal advisors who excel at dealing with the industry’s thorniest issues

Amid a worsening climate crisis, output-style insurance policies deserve another look

PEOPLE 40 Other life

Back to nature with environmental insurance specialist Gina Jones







Brown & Brown’s Bo Birtwell on why all brokers should be preaching the gospel of telematics to their clients


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A ticking stink bomb


limate protesters laid a sensory assault on Lloyd’s of London in June, setting off a stink bomb outside the main entrance of the world’s oldest insurance marketplace to protest its ongoing support of fossil fuel projects. Two months earlier, the same group of activists, known as Insurance Rebellion, used a tipper truck to dump a large pile of fake coal at Lloyd’s headquarters. If a literal stink bomb isn’t enough to grab the industry’s attention, how about a stink of a more figurative nature? In what should be a serious wake-up call to the insurance industry, oil and gas giant Exxon Mobil was recently brought to its knees by a tiny activist hedge fund over its climate strategy. On May 26, a little-known investment firm named Engine No. 1, which holds a stake of just $50 million in the US-based energy behemoth, staged a successful coup in which it managed to unseat two of Exxon’s board members and replace them with nominees who will pressure the company’s leadership to increase its efforts to combat climate change. The successful climate coup, supported by British insurer Legal & General Group, which has a $1.5 billion stake in Exxon, should serve as a stark warning for other public companies, including insurers.

Simply publishing grand statements about reaching net zero carbon by 2050 will not satisfy the demands of climate-conscious investors Stink bombs aside, the pressure is rising for insurance leaders to ‘walk the walk’ with energy transition. Simply publishing grand statements about reaching net zero carbon by 2050 will not satisfy the demands of climate-conscious investors. They are demanding – through dissident boardroom politics, if necessary – that insurers retract any ongoing support for the fossil fuel industry and cease insuring new oil and gas projects. This puts some insurers in a tight bind. Many have legacy contracts and investments that are perhaps contrary to current demands around energy transition and climate change. It can be challenging to wind down portfolios and shift business priorities at a speed that matches the ever-growing wave of climate change realization around the world. But the one thing insurers cannot do is nothing. When it comes to climate change, actions really do speak louder than words. The team at Insurance Business America MAY 2017 EDITORIAL Managing Editor Paul Lucas Senior Editor Bethan Moorcraft Journalists Mitchell Scrimgeour-Brown, Ksenia Stepanova, Mia Wallace News Writers Lyle Adriano, Terry Gangcuangco, Roxanne Libatique, Gabriel Olano Staff Writers Pete Miller, Jonathan Russell, Ryan Smith Copy Editor Clare Alexander


ART & PRODUCTION Designer Joenel Salvador Production Coordinators Loiza Razon, Kat Guzman Customer Success Coordinator Bernz Jalandoni

SALES & MARKETING Head of Insurance – Sales & Marketing Cathy Masek Vice President, Sales John Mackenzie Senior Business Development Manager Desiree McCue Global Head of Media Marketing Lisa Narroway

CORPORATE Chief Executive Officer Mike Shipley Chief Operating Officer George Walmsley President Tim Duce Chief Information Officer Colin Chan Human Resources Manager Julia Bookallil

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Correction In IBA 9.06, RPS’ Steve Robinson was incorrectly pictured in the Brokerage Insight article instead of RPS’ Wes Robinson. IBA apologizes for the error.

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Copyright is reserved throughout. No part of this publication can be reproduced in whole or part without the express permission of the editor. Contributions are invited, but copies of work should be kept, as the magazine can accept no responsibility for loss.

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US 50% 40% 30% 20%


18% 18% 17% 14%

50% 40%




44% 35%

31% 34%

20% 10%



Total number of named storms expected during the 2021 Atlantic hurricane season

Q2 2020

Q3 2020

Q4 2020

Q1 2021




Number of named storms expected to turn into hurricanes


Number of hurricanes expected to develop into a Category 3, 4 or 5 storm

Global commercial insurance prices rose by an average of 18% in the first quarter of 2021, according to Marsh, marking 14 consecutive quarters of price increases. However, the pace of the price growth seems to have moderated, falling from 22% in the fourth quarter of 2020. Marsh attributed this trend primarily to slower rates of increase in property insurance and financial and professional lines. Cyber insurance diverged from the trend, however, posting a rate increase of 35% for the first quarter, double the increase from Q4 2020.

LATIN AMERICA 50% 40% 30% 20% 10%






OPENNESS TO CAPTIVE INSURERS GROWS WORLDWIDE The volatile insurance market is prompting more companies to explore the possibility of forming a captive, according to a recent study by Swiss Re. Globally, almost half of companies are open to forming a captive, although the figure is much lower among North American companies.


North America



Probability of a major hurricane landfall in the US in 2021, compared to the long-period average Sources: Insurance Information Institute; Tropical Meteorology Project, Department of Atmospheric Science, Colorado State University



36% 54%





Latin America







Source: “Hard market solutions: captive insurance thrives in tough times,” Swiss Re

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Implementation of the new IFRS 17 insurance contract standard is expected to cost the global insurance industry between $15 billion and $20 billion, according to a Willis Towers Watson study of 312 insurers from 50 countries. However, WTW found that the costs vary greatly depending on insurer size.

40% 30% 20%


15% 15% 14% 13%





30% 20% 10%

9% 12% 11%


Large insurers (major multinationals) will pay between $175 million and $200 million


Smaller insurers will pay around $20 million

8% PACIFIC 50% 40% 30%





30% 20%

19% 20% 22% 18%

31% 33% 35% 29%



10% 0%

Source: Marsh Global Insurance Market Index Q1 2021


CYBER LEADS AMONG EMERGING RISK CONCERNS Cyber was rated as the most important emerging risk by nearly 1,000 organizations recently surveyed by Marsh, underlining the interconnectedness and technological dependence of industries. A combined 92% of respondents identified cyber as an important or the most important emerging risk. Most important


Cyber 45%



Least important




Emerging technology 50%


Pandemic 37%

While the pandemic has motivated a large majority of companies worldwide to recognize the importance of employee well-being, a recent Aon survey found that many lack a strategy to address it, which can negatively impact their culture, talent attraction and performance objectives.


Regulatory 43%

Source: Willis Towers Watson





of companies consider employee well-being a priority


of companies currently have a well-being strategy in place

Geopolitical 55%


13% 54%

33% Source: Marsh Risk Resilience Report

Source: 2021 Global Wellbeing Survey, Aon

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Hurdling the Tokyo Olympics Organizing the Olympic Games is a monumental task even in a normal environment. During these extraordinary times, what risks loom largest over the Tokyo Summer Olympics? “BARRING ARMAGEDDON that we can’t see or anticipate, these things are a go.” Those were the words of senior International Olympic Committee (IOC) member Richard Pound during a recent interview discussing the upcoming Tokyo Olympics. Ever since the Games were postponed in March 2020, the question on the lips of organizers, sponsors, athletes, insurers and the public has been whether the Olympics will be postponed again or even canceled.

tors and supporting staff. To mitigate against health risks associated with the event, the IOC is working with the city of Tokyo, the government of Japan and the World Health Organization to make the Games as safe as possible. The committee has also issued a series of playbooks with advice on practices like social distancing, mask-wearing, testing, hygiene, etc. Japanese healthcare officials have been promoting these best mitigation practices since the declaration of the pandemic, and

“The biggest trial, beyond the obvious economic and political considerations, will be maintaining the health and safety of all involved” Robert L. Quigley, International SOS It’s a pertinent question, given the variety of risks posed by running an international event of this scale during a global pandemic. According to Dr. Robert L. Quigley, SVP and global medical director at International SOS, “the biggest trial, beyond the obvious economic and political considerations, will be maintaining the health and safety of all involved, including the athletes, local specta-


they cannot be overstated.” Overall, Quigley says, the Games will be smaller and look different from previous years, especially with officials effectively banning spectators from outside of Japan. That restriction didn’t come as a surprise, as much of the world remains unvaccinated, including Japan, and variants of COVID-19 continue to spread across borders.

Paul Gilbert, director of McLarens’ global entertainment and contingency practice group, points out that by the time the first international athlete has checked into the Olympic Village, event organizers will have almost a year’s worth of lessons from the successful implementation of various live sporting events during COVID-19. These include the NBA ‘bubble’ in Orlando, Florida, in 2020; the English Premier League; the Nippon Professional Baseball seasons; and the recent PGA Championship, which was held with more than 10,000 fans and softened social distancing and mask requirements. Because of this, Gilbert says, Olympic organizers now have a massive amount of knowledge on how to keep athletes, coaches, vendors, broadcasting partners and fans safe and healthy. “If you told organizers and their insurers, ‘The only risk you have to face is that of COVID-19,’ I think it would be a challenge they could confidently assess and manage,” he says. “Rapid testing is readily available and reliable, athletes and others exposed will be vaccinated at high percentages, and mitigation efforts such as social distancing and face

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83% Proportion of Japanese residents who oppose the country hosting the Olympics this year

$15.4 billion Official cost of the 2021 Tokyo Olympics, up 22% from last year

$25 billion Minimum true cost of the event, according to audits from the Japanese government

coverings have been proven highly successful. These risk mitigation measures have all been in practice throughout sports, broadcasting, food and beverage service, hospitality, logistics, and social gatherings for a long enough time to make sure best practices are followed and the events can continue as planned,

terrorism threats, which a worldwide stage such as the Olympics provides a venue for. There are political and social justice risks worldwide that cause Olympic organizers concern. And finally, you have a global transportation system that is not yet fully open, and asking nearly every country in the

“Organizers don’t want a situation where every medal platform ceremony comes with an asterisk because the sport’s biggest stars are not present” Paul Gilbert, McLarens although with very important modifications and protocols.” However, Gilbert says, COVID-19 is far from the only risk at play – organizers also have to deal with the more traditional risks associated with live events of this scale. “There are weather threats with the Olympics being held during Japan’s typhoon season,” he says. “There are ever-present

world to send their Olympic personnel to Japan while there are travel restrictions in place could cause a problematic absence of marquee Olympic talent.” And there are always other medical and security risks that could affect athletes, local spectators and Japanese residents, Quigley says. This requires individuals to implement certain safety measures, such as plan-

$3.5–$4 billion Estimated amount of broadcast revenue that would be lost if the Games were canceled Sources: Asahi Shimbun; Associated Press

ning trips well in advance and taking sensible security precautions to mitigate against the risk of petty and street crime, especially at heavily congested transportation hubs and in crowded public spaces. Possibly the most pressing risk facing the Games, Gilbert says, is the growing sentiment among residents, the medical community and the business community in Japan against holding the event. “While this internal risk is the one that stands out as having the greatest likelihood to impact the events, the external concern of countries not sending their athletes, broadcasters and high-value sponsorship partnerships could equally affect the legitimacy and integrity of the 2021 Olympics,” he says. “Organizers do not want a situation where every medal platform ceremony comes with an asterisk because the sport’s biggest stars are not present.”

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Allstate’s deal for the nonstandard auto insurance carrier, which operates in 28 states, is valued at $300 million

Aquiline Capital Partners; Alight


Aon has agreed to offload its US retirement business to Aquiline and its Aon Retiree Health Exchange to Alight ahead of its merger with Willis Towers Watson


SKWeston & Company

Maryland-based SKW offers various outsourcing and technology services for insurance and other highly regulated industries

First Onsite

Maxons Restorations

The deal expands First Onsite’s footprint in the New York, New Jersey and Connecticut tri-state area


LDJ American Online Benefits Group (AOBG)

AOBG offers supplemental health insurance and wellness products through a network of more than 2,500 independent agents

HUB International


Los Angeles-based EnterMedicare’s platform offers senior citizens improved access to Medicare

Massachusetts Mutual Life Insurance Company

American Financial Group

The $3.5 billion sale includes Great American Life Insurance Company and two subsidiaries



The purchase of insurtech Noblr will boost USAA’s ability to provide usage-based insurance to its members

Victor revamps builder’s risk program

Victor has relaunched its builder’s risk insurance program with an A++ carrier, with expanded appetite and increased capacity. The MGA offers builder’s risk solutions in 48 states and Washington, DC, covering both residential and commercial construction projects. The revamped builder’s risk program is available for quote, bind and issue online through Victor’s V2 platform, a new business portal that gives agents and brokers the benefits of instant quotes and application management through simplified and streamlined technology-driven processes.

Allstate acquires nonstandard auto carrier

Allstate Corporation has agreed to acquire SafeAuto, a nonstandard auto insurance carrier that provides coverage in 28 states. According to Allstate, total consideration for the deal includes a $270 million cash purchase price and around $30 million in pre-close dividends of certain non-insurance assets. The purchase is being handled by Allstate subsidiary National General; following the acquisition, SafeAuto’s capabilities and distribution will become part of National General’s direct-to-consumer nonstandard auto insurance operations. “I am excited to see SafeAuto join the Allstate family and National General,” said SafeAuto CEO Ron Davies. “Allstate is an iconic brand with superb capabilities and people that will enable SafeAuto to more rapidly scale and serve even more consumers.”


Rokstone launches new US terrorism facility

London-based MGA Rokstone has created a new terrorism facility for the US market with A-rated capacity. The product was launched as a new alternative to TRIPRA, the US federal program formed after the 9/11 attacks. According to Rokstone, its facility goes beyond TRIPRA with additional emphasis on crisis management, victim support and rehabilitation. It is supported by one of the market’s first online quote-and-buy platforms for terrorism cover, allowing policies to be quickly and easily added to other core commercial covers and quotes to be generated in under a minute.

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PEOPLE Chubb debuts automated travel insurance

Chubb has launched a new Pay As You Roam (PAYR) travel insurance offering that uses mobile phone roaming data to identify when customers are outside their home country, activating coverage automatically at a daily premium. A text message or pop-up notification in Chubb’s core app will inform customers that coverage is in place; they then have four hours from receipt of the message to either decline coverage or confirm who needs to be included for cover. Coverage ends when the customer is detected as no longer roaming or if they reach the maximum trip duration of 31 days.

Beazley expands its telehealth offering

Beazley has launched new online tools to help brokers and health professionals navigate telehealth regulations. In partnership with law firm BakerHostetler, Beazley has created an interactive digital map that provides detailed information on the state-by-state laws governing the provision of telehealth services across the US, highlighting regional variances in legislation and guidelines. The insurer has also rolled out credentialing and re-credentialing checklists designed to “help telehealth professionals remain compliant and in the strongest position to mitigate and defend against claims.”

DUAL unveils public company D&O program

DUAL Commercial has launched a new directors & officers insurance program for public companies, which joins the transactional liability insurance program it launched in April to form the newly created DUAL Transactional Solutions. DUAL’s new D&O offering will underwrite traditional ABC and Side A-only business on an excess basis, with a concentration on Fortune 1000 firms and limits of up to $10 million. “Our new public D&O offering is the perfect solution to what the market is looking for: new key players and the right capacity,” said Jim O’Connor, CEO of DUAL North America.





Bill Haley

Guardian Life Insurance


Sales director

Bradley Rutt


Hub International

US cannabis specialty leader

Erica Fletcher



Global head of diversity and inclusion

Jason Knight

BNY Mellon

State Street Corporation

Global head of insurance

Jen Tadin


Bold Penguin

Chief growth officer

Joe Connelly


Insurance Industry Charitable Foundation

Chair, board of directors, Southeast division

John Przedpelski

Innovisk Capital Partners



Julie Brown

IAT Insurance Group


Executive vice president, commercial insurance

Kevin Lasante


Merchants Insurance Group

Regional vice president, New England

Kim Kovalski

Bikelane Solutions


Managing director

Mark Hammond



Deputy chief financial officer

Mark Maher


Jencap Group


Quentin McMillan

Marsh McLennan


Vice president, managing director and head of investor relations

Severin Hegelbach

Willis Towers Watson

Howden Specialty

Divisional director, sustainable energy practice

William Miller



Chief actuarial officer

Jencap Group names new president

National wholesale intermediary Jencap Group has appointed Mark Maher as its new president. Maher previously served as Jencap’s COO and president of its NIF Group division. In his new role, he will work to develop strategic plans, drive growth initiatives, manage carrier and broker relationships, and achieve an effective cross-selling practice. “Mark has exceptional knowledge and insight into every facet of our organization and the overall specialty insurance distribution sector,” said Jencap CEO John Jennings. “Mark brings the expertise and leadership capabilities that will be essential as we continue to transform and grow Jencap.”

AIG brings in head of investor relations

AIG has named Quentin McMillan to the role of vice president, managing director and head of investor relations. McMillan joins AIG from Marsh McLennan, where he was senior director of investor relations. Prior to Marsh McLennan, he served as managing director of equity research for P&C insurance at Keefe, Bruyette & Woods and as VP of equity research for P&C insurance at Morgan Stanley. “Quentin’s industry expertise and reputation in the investment community make him ideally suited to outline AIG’s ongoing strategy to becoming a topperforming company and global insurer of choice,” said AIG CFO Mark Lyons.

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WORKERS’ COMP UPDATE NEWS BRIEFS OSHA issues emergency temporary standard

OSHA has issued an emergency temporary standard (ETS) that establishes new COVID-19 requirements for healthcare settings. The new ETS requires non-exempt facilities to conduct a hazard assessment and have a written plan to mitigate virus spread, to provide some employees with N95 respirators or other personal protective equipment, and to ensure six feet of distance between workers or erect barriers between employees where feasible. It also mandates paid time off for COVID-19 recovery and vaccination, and it exempts fully vaccinated workers from masking, distancing and barrier requirements in certain situations.

Workers’ comp insurer SUNZ expands to 13 new states

SUNZ Insurance Company has expanded its licensing footprint into Colorado, Hawaii, Iowa, Nevada, New Hampshire, New Mexico, South Carolina, South Dakota, Utah, Vermont, Virginia, West Virginia and Wisconsin. The expansion gives the company the ability to write workers’ compensation policies in 29 states; its fronting partnership continues to provide coverage in all 50 states. SUNZ president Rick Leonard said the company is “looking forward to connecting with new businesses in these additional states and helping to make every workplace safer for employees.”

Dermatological agents, NSAIDs top prescription drivers

Dermatological agents and nonsteroidal anti-inflammatory drugs (NSAIDs) account for the largest share of total prescription payments in most states, according to a new report


from the Workers’ Compensation Research Institute (WCRI). On average, dermatological agents and NSAIDs each accounted for about 20% of total prescription payments in the first quarter of 2020, according to the WCRI, which also revealed that prescription payments per medical claim decreased by 15% or more between Q1 2017 and Q1 2020 in 20 of the 28 states it studied.

Pacific Claims Management chooses new claims platform

Third-party workers’ comp administrator Pacific Claims Management has selected SpearClaims as its new claims management system. The company said the new platform will help it streamline workflow, drive cost savings and facilitate optimal claims outcomes. “When we found out there was a claims system developed on the Microsoft Power Platform, we jumped at the opportunity to modernize,” said Pacific Claims Management president Jerry Laval. “It will bring all of our data and systems together while simplifying our processes.”

Safety National welcomes new VP of underwriting

Safety National has appointed Tim O’Grady as vice president of underwriting for its large casualty division, which is responsible for distribution of Safety National’s largedeductible workers’ compensation, commercial auto and commercial general liability coverage. O’Grady has nearly 30 years of industry experience with an extensive background in largeaccount underwriting. He has worked with some of the largest national insurance providers, serving in various underwriting leadership positions and managing regional underwriting teams for several lines of coverage.

Shedding light on burn injuries Burn injuries are increasingly contributing to multimillion-dollar loss claims – but why? Significant loss claims from severe burn injuries have become a trend in recent times, costing workers’ compensation insurers millions of dollars. A new report from the National Council on Compensation Insurance (NCCI), produced in partnership with accountable care management organization Paradigm, found that while survival rates for older injured workers improved over time, high-severity burn claims still cost a fortune. “The average cost of all burn injuries is comparable to the average cost of all injuries combined,” says Victor Wong, an actuarial consultant with the NCCI. “A high percentage of burn injuries incur only medical costs, compared to the population of all injuries. However, when the injured worker incurs indemnity costs, the average cost is greater for burn injuries compared to all injuries.” Wong also notes that the cost to treat workers with burn injuries can vary significantly. He points to three separate claims discussed in the study where total incurred costs exceed $15 million each. The industries that suffer the highest proportion of serious burn injuries (defined by the NCCI as those with claims that exceed $500,000 in total indemnity and medical costs) include trucking, electrical wiring, electrical light and power line construction/drivers, restaurants, and chemical manufacturing. “On a countrywide basis, for workers’ compensation claims, medical costs account for about 60% of total claim costs,” Wong says. “For these five types of businesses that have

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the highest number of serious burn injuries, medical costs make up an even higher proportion of total costs, comprising over 80% of total incurred medical and indemnity costs.” The NCCI report found that acute inpatient hospital payments are a key cost driver for the treatment of severe burn injuries. Which begs the question: Have burn injuries gotten worse, or have they become more frequent – or both?

“The average cost of all burn injuries is comparable to the average cost of all injuries combined” “The number of burn injuries and the number of injured workers who require care in an inpatient hospital setting have been relatively consistent from year to year; thus, it does not appear that burn injuries occur at a higher frequency now compared to prior years,” Wong says. “The data shows a general upward trend in the average incurred medical costs for lost-time claims, implying that severe claims have become more costly.” Wong notes that the percentage of medical payments devoted to hospital inpatient services has increased from year to year. He attributes that increase to several factors, including medical inflation and innovations such as skin substitutes and laser therapy.


Gary Pearce

Recovering from the pandemic

Chief risk architect ACLAIMANT

Years in the industry Nearly 40 Fast fact Pearce received a Golden Circle Award in 2010 in recognition of his outstanding leadership

According to the NCCI, the US workers’ comp industry saw net premiums decline by 10% during 2020. Is the pandemic the only reason why premiums took a hit? The pandemic is not the only reason, but it is the most significant contributor. Most workers’ compensation premiums are calibrated against policyholder payroll, and as certain business sectors experienced major downturns in demand, this in turn drove decreases in payroll. The pandemic had other effects, such as sharp decreases in general claims activity. Despite the impact of compensable COVID-19 claims, the drop in general business activity drove a decrease in claims that not only more than offset the newly incurred COVID-19 experience but, in totality, was greater than the decrease in business activity.

Are you seeing similar trends in 2021, despite ongoing vaccination efforts? With notable exceptions, most firms are adapting to the new operating environment, governmental support is plentiful, and business volumes are back to something closer to normal. Although we’re at a point where roughly two-thirds of the population has taken at least one vaccination, the percentages vary wildly by socioeconomic status. It’s reasonable to conclude that vaccination rates among those most susceptible to workplace injuries – those in lower-paying, more labor-intensive jobs – are significantly less than for the total population. So the impact on workers’ compensation in terms of claim activity could be more persistent than one might expect.

Which industries saw the greatest changes to their employee risk exposures during the pandemic? The industries that saw the greatest changes were naturally the essential industries where employees needed to go into work each day or otherwise be exposed to fellow workers and the general public, including healthcare, construction and grocery workers, to name a few. While other industries were able to transition to working remotely and protect their employees by allowing them to work from home, essential industries didn’t have a choice.

How should businesses handle the return-to-work process, especially if they operate across different states? As nonessential businesses plan for the return of their employees to the office, business leaders must create a culture of trust and transparency within their organization. Having an ongoing dialogue between employers and employees builds trust and ensures employees feel comfortable and safe returning to work. Beyond that, businesses that operate across different states or in areas that have different guidelines on personal safety should ensure their return-to-work procedure is consistent across all locations to maintain trust and coordination with all employees.

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Bringing risk modeling into the cloud How leveraging the power of cloud computing can enable faster, more reliable decisions about risk

opportunity to bring deeper analytical insight into the business decision-making process,” Collinson says. “Prior to Igloo Cloud, it was not typically practical within meetings to rely upon simulation-based tools to evaluate the consequences of the options available; Igloo Cloud changes everything. The near real-time capability of Igloo Cloud has the potential for a significant change to many decision-making processes within the business, bringing holistic quantitative modeling insights to

“This change supports risk-based decision making for a far wider universe of business decisions” The adoption of cloud computing might still be limited in the insurance industry, but companies are increasingly introducing solutions that leverage the technology. Willis Towers Watson, for example, recently launched Igloo Cloud, an enhancement to its simulation-based risk modeling platform. “To some extent, the utility of Igloo and range of uses for which it is practical can be limited by the intensive calculation requirements and, in some cases, the need to maintain enterprise-level compute resources and support,” explains Rob Collinson, WTW’s


insurance consulting and technology global proposition leader for P&C. According to Collinson, Igloo Cloud aims to mitigate those limitations in three areas: performance, cost and simplicity/access. Igloo Cloud brings supercomputing performance to stochastic business modeling, enabling tasks that once took hours or even days to be completed in minutes. The cloud also helps reduce the end-to-end cost of maintaining a compute-intensive modeling solution. “The advantages offered by Igloo Cloud are not just functional in nature – they offer an

USAA makes deal to acquire telematics insurtech Noblr

In a bid to offer usage-based insurance to its members, USAA has inked a deal to acquire telematics insurtech Noblr. USAA plans to roll out UBI nationally over the next three years, beginning with the eight states where Noblr is currently available and expanding to additional states this year. USAA president and CEO Wayne Peacock said the new capabilities will give members “personalized pricing that fits their risk and usage profile, better control over the cost of their auto policies, and an exceptional end-to-end digital experience.”


many areas that have to date relied on limited ‘light’ models and ... qualitative experience.” The platform’s ability to deliver detailed modeling insights into the center of risk meetings makes it an interactive contributor to the decision process, Collins says. “This change supports risk-based decisionmaking, explicitly consistent with the insurer’s own risk appetite, for a far wider universe of business decisions, from underwriting through to capital management,” he says. “We are heading for a future when an insurer will seek to understand the capital and risks associated with every new transaction, every new policy, every new asset.”

Applied Systems teams up with SNAP Premium Finance

Applied Systems has welcomed SNAP Premium Finance into its Applied Partner Program, which aims to enhance automation and connectivity across the independent insurance distribution channel. SNAP’s integration with Applied Epic will enable agents and brokers to provide customers with flexible insurance payment options via integrated workflows within their management system. Clients will have the ability to pay insurance premiums monthly from their bank account or credit card.

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Jason Liu CEO

Digitizing the workers’ comp space


Years in the industry 3 Fast fact Zywave acquired Modgic, a provider of workers’ comp and mod analysis software, in mid-May

What motivated Zywave’s recent acquisition of Modgic? Zywave was interested in Modgic for several reasons. We already offer a fantastic competitive solution with our ModMaster product. By acquiring Modgic, we have not only advanced our customer reach, but we also now have the opportunity to combine the best features from both solutions to create a superior product for our shared customers. The acquisition of Modgic is an exciting step as Zywave continues to consolidate the insurtech marketplace and expands its footprint, both in the US and internationally. For brokers, what is particularly attractive about this type of solution is that it enables them to have better, more consultative conversations with their clients. They can truly go beyond the low-bid mentality and easily position themselves as mod experts. Not only can this type of analysis help open prospects’ and partners’ eyes to the impact of the mod, but it also increases customer satisfaction and demonstrates real value.

What are the main challenges in workers’ comp data entry, and how does your technology help address those? If an agency isn’t using a tech tool to track and analyze workers’ comp data, they are likely entering everything manually into spreadsheets. This can be an extremely time-consuming, inefficient and inaccurate process. Plus, manual spreadsheets are difficult to analyze and offer limited reporting. Mod analysis software automates and streamlines

Branch Insurance raises $50 million in funding

Branch Insurance recently closed a $50 million Series B funding round, which it touted as the largest Series B round raised by an insurtech. Branch aims to disrupt the traditional quoting process by enabling customers to get instant quotes online with just a few pieces of information and by integrating insurance at the point of sale of other products. The latest round brings Branch’s total funding to date to $82.5 million; the insurtech said it plans to use the new funds to fuel its national and partner channel expansion efforts.

the data collection process, significantly increasing efficiency and accuracy while freeing up time for more strategic work. The use of technology also enables improved data analytics, more sophisticated outputs, actionable insights and consumer-friendly reporting.

What should commercial insurance agents look for in workers’ comp analysis software? It’s fairly simple: The best workers’ comp analysis software should enable users to easily import data and easily export comprehensive reports. Software that does the analysis for you should also provide a vast array of report types like looking at claims and losses by location, department or cause. The insights these reports provide help agencies show their clients what is driving their workers’ comp premiums.

How else can technology help agents in the workers’ comp space? Of course, an agency management system is a necessity for any P&C agency. But when we’re talking about workers’ comp specifically, another area where tech can help is with quoting and proposals. The insurance industry is shifting toward automated quoting and proposal solutions, also referred to as CPQ, which provide more efficient quoting, ultimately resulting in increased volume and profitability. Workers’ comp is just one of the many lines of insurance that can be quoted using a CPQ solution. These types of solutions are becoming essential for brokers to remain competitive in the evolving insurance marketplace.

Claim Central Consolidated rolls out new tech brand

Australia-based claims solutions provider Claim Central Consolidated (CCC) has launched Wilbur, a new brand for its global technology business and platforms. Wilbur provides a modular and connectable ecosystem of products and solutions for insurance businesses in the US, Australia, New Zealand and South Africa. Its flagship offering, Claim Suite, is a modular solution that includes Wilbur Claims Manager, Wilbur Connect, Wilbur Live (powered by Livegenic), Wilbur Repair and Wilbur Inspect.

GEICO forges claims technology partnership

GEICO has partnered with AI technology company Tractable to accelerate its auto claim and repair processes. Tractable’s proprietary computer vision technology can assess vehicle damage based on photos; GEICO is looking to leverage it to accurately review estimates within seconds while reducing administrative overheads. “GEICO customers know us for our speed of service and value,” said GEICO CEO Todd Combs. “Tractable’s artificial intelligence solution delivers both.”

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THE DRIVE TO WIN From qualifying for the Olympic Trials to overseeing sales at Marsh McLennan Agency, Trindl Reeves has always relied on her competitive spirit to set her apart

COMPETITIVE ATHLETES share one common trait: a desire to be the best and to push themselves as hard as they can to reach their full potential. That’s the mentality Trindl Reeves, a former track and field athlete at the University of California Irvine, has relied on to shape her highly successful 30-plus-year insurance career. Reeves, who qualified to go the Olympic Trials in the 200m but couldn’t race due to injury, had an unconventional start in the insurance business. While studying for a bachelor’s degree in psychology and juggling track and field commitments, she took a part-time job making cold calls during her lunch break for $5 an hour. That’s when she discovered a talent for sales – one she would later nurture and push to its full potential in the insurance business. After graduating from college, Reeves took a job with an insurance agency, where she was selected to take part in a producer program sponsored by The St. Paul Companies, which is now part of Travelers. She was the only woman out of the 10 candidates, and she chose to focus her insurance and risk management education around the technology and life sciences sectors. In the early 1990s, the agency Reeves worked for was acquired by Marsh, where she honed her skills as a producer for more


than a decade before being offered a leadership role as managing director, head of the San Diego office and sales leader for the Pacific South region. She stayed in that position for five years before deciding to “get back to what [she] loved” and refocus on sales.

The best of both worlds In 2006, Reeves joined Barney & Barney, a longstanding San Diego insurance brokerage,

the risk prevention and insurance needs of middle-market companies in North America. In December 2020, Reeves was promoted to chief sales officer for the entire MMA organization. “Thinking about my career as a salesperson and as a former athlete, I’m a very competitive person, and I’ve always had a very strong work ethic,” she says. “I believe that’s what has made me successful in sales.

“As a former athlete, I’m a very competitive person, and I’ve always had a very strong work ethic. When I was in my 20s selling to 50-year-old men who had their golfing buddy handling their insurance, I really had to out-hustle them” where she led the sales operation and helped the firm more than double in size within seven years. In 2010, she was named chief sales officer for the West region; four years later, Barney & Barney was acquired by Marsh McLennan Agency (MMA), a wholly owned subsidiary of Marsh that serves

When I was in my 20s selling to 50-year-old men who had their golfing buddy handling their insurance, I really had to out-hustle them. I had to have excellent technical insurance skills in order to convince people to work with me. “Now that I’m in a leadership role, my

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PROFILE Name: Trindl Reeves Title: Principal and chief sales officer Company: Marsh McLennan Agency Based in: San Diego, California Years in the industry: 30+ Fast fact: In addition to qualifying for the Olympic Trials in the 200m, Reeves set a school record in the javelin at UC Irvine and ranked in the top 25 in the US for the heptathlon after only three years of competing

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focus has shifted. It’s more about strategy, navigating the changes that are happening in the market and setting our producers up for success. A big part of my job now is talent development. It’s not about being a lone producer; it’s about making our team of over 1,600 producers countrywide the best they can be.” The chief sales officer role is a new position within MMA and is reflective of the firm’s wider strategy of building a nationwide footprint of producers who are loyal to their local markets and can provide high-touch service to clients while also having access to centralized

Those ambitious growth plans will require a keen eye on talent development and recruitment, as well as diversity, equity and inclusion (DE&I) initiatives, which Reeves has advocated for throughout her career. As a mom of two and a woman in the male-dominated realm of insurance sales, Reeves has made a concerted effort to hire and promote more women in producer roles. She believes that with the right mindset and the right support, “it is possible – if there is such a thing – to achieve a good work-life balance in the insurance industry.” More than a decade ago, Reeves was

“It’s not about being a lone producer; it’s about making our team of over 1,600 producers countrywide the best they can be” leadership, support, expertise, resources, and sales training and development. “We’re able to offer Fortune 50 levels of service to our middle-market clients – that’s what differentiates MMA,” Reeves says. “We’re a very responsive organization, and we provide a wide range of value-added resources and services to clients in addition to taking care of their insurance and benefits needs. We have a saying internally around providing ‘the best of both worlds,’ which means that we want to be the local broker and take care of people in our local communities in the way they want to be taken care of, but we also have access to the resources, technology, data and analytics of the world’s largest broker. We have the best of both worlds, and we’re able to deliver that to our clients.”

Doubling down on DE&I In her new role, Reeves has big plans for MMA, including doubling the firm’s revenue within eight years, a target she hopes to achieve primarily through organic growth.


instrumental in the creation of MMA’s GROW (Growth, Relationships and Opportunities for Women) program, which focuses on attracting, retaining, educating and supporting women within the firm. Since its founding, GROW has expanded significantly – both in terms of membership and in the scope of personal and professional programs offered – and is now a key differentiator in why women choose to work for MMA. In recent years, MMA has also made great strides in DE&I, launching several colleague resource groups to facilitate critical mentorship and allyship programs. “It has been proven that organizations that are more diverse tend to perform better,” Reeves says. “We want to mirror what the communities and clients that we serve look like, and they’ve been excited to hear about the DE&I programs that we’ve launched. It’s also vital for talent development and recruitment. People want DE&I, and they want to ensure that it’s not just lip service and that companies are actually living it.”


1871 Year parent company Marsh was founded

155 Number of MMA offices in the US

1,600+ Number of producers across the country

$2 billion MMA’s annualized revenue

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The benefits of output policies Amid the worsening effects of climate change, insurers should consider a more flexible commercial insurance option, writes Gary Koslov IT’S A TESTAMENT to how severely disruptive 2020’s natural catastrophes were that it took the worst pandemic of the last 100 years to displace them as the year’s major crisis. Consider just a few of the lowlights: California experienced five of the worst wildfires in its history, including its first ‘gigafire,’ while Oregon, Colorado and Washington experienced their largest wildfires ever. The Atlantic hurricane season notched more named storms than at any other time in recorded history. And an August derecho ravaged nearly 700 miles between Nebraska and Indiana, the worst such storm in decades. Verisk PCS recorded the most catastrophes in its history in 2020 and the most catastrophes exceeding $1 billion in losses. According to AIR (a Verisk business), insured losses in North America hit nearly $62 billion in 2020. While natural catastrophes are inevitable, most experts agree that their rising frequency and severity is at least partly, if not substantially, attributable to a changing climate. Many climate scientists believe the disasters of 2020 are merely a prelude of what’s to come as the Earth’s atmosphere swells with levels of carbon dioxide last seen 16 million years ago – enough to drive global temperatures as much as 8 degrees warmer and melt enough ice to raise sea levels a staggering 130 feet. We may well look back on the devastating hurricanes, wildfires and


floods of 2020 not as the worst of times, but as the best of times. As climate-fueled perils appear to be accelerating, many commercial property insurers might want additional flexibility when setting rates on risks exposed to these perils. They should consider giving commercial output policies a fresh look, as they offer enhanced flexibility in the face of climate-driven losses.

middle-market and larger properties in the crosshairs of ever more destructive storms, fires, floods and other natural perils. As a result, insurers have more flexibility to accurately align the premiums they’re charging to the risks they’re underwriting. In general, commercial output-style policies typically offer a combination of coverages to address a wider range of exposures, including property, crime, business income, equipment breakdown and inland marine. A typical output-style policy might also require fewer forms and endorsements than a conventional commercial property policy, potentially saving resources for insurers. In addition, the optional coverages and endorsements on output policies often carry significantly higher sublimits than you might find on a conventional commercial property policy. This can help insurers market to customers who might not receive adequate limits in standard commercial policies at an acceptable cost. The ability to combine many coverage types within a single policy, along with the potential for higher sublimits, can make an output-style policy very marketable at a time when insurance customers might be seeking alternatives.

“We may well look back on the devastating hurricanes, wildfires and floods of 2020 not as the worst of times, but as the best of times” One of the central virtues of an outputstyle policy in an era of accelerating climate catastrophe is the use of deficiency point rating to help price commercial property risks. This rating method takes a base loss cost and allows underwriters to add or delete deficiency points based on their subjective judgment of the exposures. These deficiency points are typically within a defined range for various defined characteristics of the policy, such as ‘climatical hazards.’ Unlike the approaches commonly used in many conventionally rated commercial property policies, the deficiency point system provides underwriters with wider latitude to account for the unique risk exposures of

While it’s still early, 2021 appears to be off to as disruptive a start as 2020, with just one winter storm, Uri, estimated to deliver more than $10 billion in insured losses, according to AIR – to say nothing of its significant human toll. As businesses adjust to the reality of more destructive catastrophe events, commercial property insurers would do well to reassess every risk transfer and mitigation option they can offer their clients. They might find that an output-style policy is well suited to these challenging times. Gary Koslov is principal of ISO commercial lines coverage products at Verisk.

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Brokers tell IBA which carriers have continued to deliver superior products, service and expertise, even in a hard market



Feature article .............................................. 20 Methodology ................................................ 21 5-Star Carriers 2021 ................................... 24 Last year’s 5-Star Carriers ......................... 26

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THE CARRIERS THAT ARE CARRYING ON “Losing money for a long period of time isn’t a long-term business strategy, and some carriers just didn’t have the stomach to ride through market cycles”

IN INSURANCE, the relationship between brokers and carriers is vital. Some brokers seek out carriers with a proven track record and global capabilities, while others put a high priority on a carrier’s ability to pay claims and maintain a long-term relationship with the broker and the client. But unexpected events like those that have defined the past year – from the COVID-19 pandemic to civil unrest and climate chaos – can put even the best arrangements under strain.

Brian Wanat, Aon

WHAT’S MOST IMPORTANT TO BROKERS WHEN CHOOSING A CARRIER? Competitive rates 76% Underwriting expertise 53% Overall service level 50% Quick quotes 33% Range of products 31% Broker communication 25% Online platforms and services 24% Claims processing

“Clients are fatigued with 12 to 14 consecutive quarters of pricing increases almost across the board,” says Brian Wanat, chief broking officer at Aon. “That, coupled with the virtual COVID-19 environment, has made for a very challenging last year or so.” Mike Rice, CEO of CAC Specialty, concurs, noting that the market has been in correction territory for more than two years, typified by rising premiums, coverage re-evaluations and reductions in limit deployment. “For us, that means we need to differentiate the client’s risk into the marketplace and convince the carriers that client’s risk is worth taking,” he says. “For our clients, we have to ensure they are getting the best coverage. All of this means you must be prepared.”

21% Appetite for niche and emerging risks 19% Product innovation 10% Product training and marketing support 4%


Maintaining service during times of stress A range of issues – COVID-19, civil unrest, wildfires, named storms, social inflation, litigation funding, runaway jury verdicts, #MeToo and ransomware – has led to a recent spike in claims volume. But despite

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that increase, Wanat believes carrier service levels have improved markedly over the past 12 months. “The efficiency of the business and the ability to access the key decision-makers has been a benefit of the virtual environment,” he says. “I think we were able to operate effectively using the goodwill and the strength of some longstanding relationships that we and our customers had built up over years and years of face-to-face meetings. While we should certainly learn and take advantage of some of the learned efficiencies, I do think it will be important to get back to face-toface. I also think that improving technology will continue to be an item of consideration for everyone.” Both Wanat and Rice were impressed with the support they received from carriers throughout the pandemic, but they’re also both keenly aware that the current environment presents plenty of opportunities for a carrier to lose a broker’s business. “The primary reason most recently has been the carriers themselves deciding to exit or retract from certain businesses, products or industries,” Wanat says. “Whether it’s the difficulty of turning an underwriting profit in a 0% interest rate environment or the inflationary claims aspect, many carriers have posted combined ratios north of 100%, some for years. Losing money for a long period of time isn’t a long-term business strategy, and some carriers just didn’t have the stomach to ride through market cycles; others didn’t have the critical mass or talent. The reasons vary, but I would say that most clients appreciate longstanding carrier relationships. Retention rates tend to be very high.” According to Rice, “an inability to come to an agreement on depth of coverage and price of premiums are leading factors in altering or destroying a relationship with us. The combination of breadth of coverage and premium increases can have major implications on our relationship with a carrier. If a carrier has decided not to pay a claim we thought was covered, that would also affect

our relationship. “Having continuity in your relationship with a carrier is important,” he adds. “We have found that shopping programs and changing relationships with carriers from year to year benefits no one. We stress the importance of picking carriers wisely and picking carriers with a guise to building a long-term relationship with us and our clients.” And in the current hard market, Wanat emphasizes that “communication is key, especially when delivering a difficult message. Don’t procrastinate, don’t hide and don’t back out of a commitment.”

What brokers are looking for As part of IBA’s survey to determine the best carriers in the US insurance market, we asked hundreds of brokers to name the top three aspects they consider when looking for a carrier partner. Overwhelmingly, brokers named competitive rates as their top priority, which came as little surprise in a market where rates have been rising across the board. General liability, property and auto were all areas where brokers felt carriers should reconsider their pricing. Consistency was also a sticking point: “They need to properly figure out competitive rates and stick with them,” one broker advised. Underwriting expertise is another high priority for brokers; 53% told IBA it’s one of the three most important things they look for when choosing a carrier. One broker noted that “underwriters that understand coverage” are vital, while another highlighted the need to get away from “strict, inflexible underwriting.” A few brokers mentioned a desire for clearer underwriting guides, while others said underwriting needs to be centralized and streamlined. Almost equally important to brokers was the overall service they receive from carriers; 50% highlighted this as a top priority. For some, service comes down to the ease of doing business with a carrier, while others expressed a need for service levels that match today’s hyper-competitive customer

METHODOLOGY For the eighth year in a row, IBA asked brokers to name the top carriers in the industry by rating how well they performed in 11 categories. Brokers evaluated carriers on a scale of 1 (poor) to 5 (excellent) in the following areas: • competitive rates • product innovation • product training and marketing support • underwriting expertise • range of products • quick quotes • broker communication • online platforms and services • overall service level • claims processing • appetite for niche and emerging risks Carriers that received an average score of 4.00 or higher were named a 5-Star Carrier for that category.

57% of the brokers IBA surveyed consider themselves a specialist

61% have been in the industry for 20 years or more

68% work for a firm with at least $10 million in annual revenue

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No change

“Having continuity in your relationship with a carrier is important. We have found that shopping programs and changing relationships with carriers from year to year benefits no one” Mike Rice, CAC Specialty expectations. “Provide us with services to ease our workload rather than putting more processing work on us brokers,” said one respondent. Another acknowledged the pandemic’s negative impact on service, noting that “since COVID, customer service on the phone has been extremely slow and time-consuming.” The desire for a speedy response also extends to quoting: 33% of brokers said the ability to receive quick quotes is a top priority when choosing a carrier, and the need for faster quotes came up often when brokers were asked what carriers can do to improve their service. “Greater ease to


quotes … would be very helpful, especially for those of us who work atypical hours for the industry,” one broker said, while another noted the importance of “streamlining good, bindable quotes.” Carriers’ product range was the fifth most important factor to brokers when choosing a carrier; 31% named it as one of their top three priorities. Product innovation was farther down the list (only 10% of brokers highlighted it as a top quality they look for in a carrier), but their comments made it clear that innovation is key to building a robust range of products. “It’s hard to innovate if carrier partners are not pushing new prod-

ucts,” said one broker. “Get more updated on today’s trends,” advised another. A quarter of brokers highlighted communication as an important area, and their comments emphasized the need for carriers to keep their broker partners updated regularly via multiple channels, from email and phone to webinars and face-to-face meetings. “We are small and you are big, so we need to rely on you to reach out to us with any changes to ensure a continued successful partnership,” one broker pointed out. Another urged their carrier to “respond to our questions, concerns, issues – it is the worst when you have customers waiting and you get no or slow response.” Twenty-four percent of brokers said the online platforms and services provided are an important factor when choosing a carrier partner. Several brokers said their carriers could improve by offering broader, faster or more efficient online platforms. However, not everyone was a fan: “The explosion of online raters is unwelcome from my POV,” said one broker. “They are time-consuming, and the return is often not worth the effort.” Surprisingly, claims processing ranked rather low this year on brokers’ list of priorities when choosing a carrier; only 21% named it among their top three. A lot of brokers were happy with their carriers’ claims service; 79% told IBA that claims processing has stayed consistent over the past year. Where it was an issue, brokers largely attributed the decline in service to the COVID-19 pandemic and carriers being overwhelmed with claims. Less important to brokers was a carrier’s appetite for niche and emerging risks, which was rated as a top factor in choosing a carrier by only 19% of brokers, although several mentioned a desire for more niche products when asked what their carriers could do better. Even less important to brokers was the product training and marketing support carriers provide, although several wished for more marketing materials and regular updates on appetite and new products.

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2021 Five-Star Carrier

“Nautilus continues to redefine what agencies should expect when it comes to communication, service, and partnership. All my experiences with Nautilus are exceptional. They take risks, are innovative, and get to the YES of doing business.”

“Nautilus continues to redefine what agencies should expect when it comes to communication, service, and partnership. All my experiences with Nautilus are exceptional. They take risks, are innovative, and get to the YES of doing business.”


2021 Five-Star Carrier IN 10 CATEGORIES!

Scott Anderson, CPCU, CIC Executive Vice President Concorde General Agency

MOXIE Contact Nautilus today.

General Liability | Property | Commercial Excess Inland Marine | Miscellaneous Professional Liability Privacy Breach | Crime | 800.842.8972

Nautilus Insurance Group products and services are provided through various Surplus Lines insurance company subsidiaries of W. R. Berkley Corporation and offered through licensed Surplus Lines brokers. Not all products and services may be available in all jurisdictions, and the coverage provided by any insurer is subject to the actual terms and conditions of the policies issued. Surplus Lines insurance carriers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds. ©2021 Nautilus Insurance Group. All rights reserved.

Scott Anderson, CPCU, CIC Executive Vice President

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A wealth of opportunity Like most areas of insurance, the high-net-worth segment has seen plenty of changes after a chaotic year. IBA spoke with experts in the space to find out where it stands now and where it might be headed

GEARED TOWARD wealthy individuals, high-net-worth (HNW) insurance typically covers the accoutrements of a well-heeled lifestyle: multiple properties; car, art and antique collections; jewelry; and boats and yachts. “Everybody has a little bit of a different definition of what HNW means,” says Fran O’Brien, who serves as division president of North America personal risk services at Chubb

properties spend on the market is measured in hours rather than days, and house prices are up 15.8% on average year-over-year throughout the US. The HNW insurance market is equally strong, attracting many competitors. However, the myriad catastrophic events of the past year have added something new to the mix.

“I think we’re in a timeframe when our clients or prospective clients are most aware of risk in their lives because of not only the pandemic but the economic downturn that resulted from it” Fran O’Brien, Chubb and helped launch Chubb’s Masterpiece product line, which targets HNW individuals. O’Brien says the HNW insurance market largely mirrors what’s happening in real estate – and real estate is hot right now. According to Forbes, housing inventory in many areas has hit record lows, the time


“I think we’re in a timeframe when our clients or prospective clients are most aware of risk in their lives because of not only the pandemic but the economic downturn that resulted from it,” O’Brien says. “Then we had the sort of social unrest that we saw last year, but we also had a huge amount of severe

weather events.” That changed how people wanted to live, O’Brien says. HNW clients started buying or renting second homes so they could “vacation in place,” which was easier than traveling during a global pandemic. Also, because people were spending so much time in their homes, they had a chance to reconsider their living conditions and take on new renovation projects, such as adding home offices or special rooms to homeschool their kids. What’s more, the combination of the pandemic and the high demand for building materials has placed an undue burden on building material supply chains, resulting in higher costs and longer repair timelines. “But on the other hand, what I think the pandemic has taught us and our clients

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Jason T. Grodensky, senior vice president at Amwins, agrees that the HNW market has seen “a major disruption” in recent times. “There are many contributing factors from years of premiums being driven down to unsustainable lows,” he says. “Mix that with the increased attritional losses, inflated claims and major CAT events, and you get our current marketplace. Insurers must raise rates, limit coverages and re-evaluate what is profitable business to sustain in this market. I do believe that once the playing field is leveled with proper rates and mitigation of improper claims practices, the market will eventually even out. It’s imperative for insureds that their trusted advisor agents mentor them as to how they can assist in this process – i.e. claims practice counsel and the retrofitting of homes.” Grodensky also noticed many carrier consolidations during the pandemic, which limited options for insureds. “In addition, there was a huge push on only writing newer and updated homes that model better for CAT purposes,” he says. “Couple that with the increased construction cost due to COVID-related production issues, and it’s definitely driven cost for these risks.”

THE BIGGEST RISKS FOR HNW INDIVIDUALS Cybersecurity Physical security

“I do believe that once the playing field is leveled with proper rates and mitigation of improper claims practices, the market will eventually even out” Jason T. Grodensky, Amwins

Travel Collectibles security Investments Weather-related damage Relationships Source: Worth

is there is a real need for flexibility in our interactions – because your normal school day or normal workday doesn’t necessarily exist anymore,” O’Brien says. “And so if I’m working 9 to 5, that doesn’t work for a lot of clients. So, they’re really looking for a lot of flexibility, and this is why we see a lot of adoption of digital interactions.”

Silver linings Despite significant capacity constraints, rising prices and changing underwriting plans, Charles Williamson, the CEO of high-networth insurance specialist Vault, views the current market as very vibrant with plenty of growth opportunities. “It’s a great opportunity, but it’s one where

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you have to be proactive, and it’s definitely challenging conditions in some markets,” he says. “I think that’s going to carry on through the balance of this year, with or without a major hurricane.” Williamson also sees a silver lining to the COVID cloud, which, like O’Brien, he attributes to a strong real estate market. “People continue to move away from large cities and buy more and bigger vacation homes,” he says. “So that creates an insurance buying opportunity for our clients. Early in the pandemic, as clients were at home and weren’t really traveling, they may have spent more time looking at their personal affairs and thinking about their insurance costs. That caused them to shop, and particularly for a new company like us, shopping is a good thing.”

Both Grodensky and Williamson highlighted the ready availability of cyber products for HNW individuals; the challenge, Williamson says, is for brokers to explain the risks to consumers and for insurers to make higher limits available; currently, the limits are quite low because there’s not enough premium to justify higher limits. “I have a feeling the rash of cyber ransoms is going to create much, much more demand for those products,” Williamson says. “For now, the take-up rate in personal lines is still very low.”


According to Barclays, criminals are increasingly setting their sights on highnet-worth individuals, who are seen as high-value targets without the same level of security as a corporation.

The FBI recorded 791,790 cybercrime complaints last year

What’s next? Going forward, O’Brien believes the HNW insurance market will become increasingly digital as more consumers demand better self-service and greater flexibility. Throughout

“People continue to move away from large cities and buy more and bigger vacation homes. So that creates an insurance buying opportunity for our clients” Charles Williamson, Vault Despite the changing perceptions of risk, both O’Brien and Grodensky feel there haven’t been a lot of new products in response, especially the cyber and catastrophe realms. O’Brien notes that personal, cyber and identity theft coverages have been around for a while, and although they might be attracting new attention, they haven’t had any major upgrades. Grodensky, meanwhile, acknowledges recent developments in online antibullying coverage, as well as family life protection in light of mass shootings and workplace violence. He adds that “the lack of new products currently is the challenge of P&C markets in CAT areas like Florida and California.”


the pandemic, for example, Chubb was able to use remote technology such as smartphones to help more than 30,000 clients document and interpret damages and claims. “What we learned was that the clients were significantly more engaged with us,” O’Brien says. “They spent time with us walking us around their house with their phone in hand and had those conversations.” Grodensky sees more changes ahead in the market. “We do expect increased market consolidation; increased restriction based on year, build, and location for the immediate future; and climbing rates,” he says. “Construction costs are going to drive up replacement costs as well, and that will be

Cyber scams resulted in more than $4.2 billion in losses

There was a 69% increase in number of complaints made by cybercrime victims

More than 25% of ultra-high-networth families, family offices and family businesses have fallen victim to a cyberattack Source: Barclays

reflected in the insured premiums. I do see this leveling off in the next couple years, given that well before the pandemic, insurers had been pressing for increased premiums to offset the years of rates being driven down in the previous soft market.” For Williamson, the future of the HNW segment comes down to the insurance industry’s ability to attract and retain new talent. “We as an industry need to be manufacturing more talent and recruiting more aggressively and more smartly to ensure the growth,” he says. “In terms of macro trends, like in a lot of businesses, talent remains key.”

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IBA spotlights 78 top-ranked insurance law firms and lawyers who have helped guide the industry through a difficult time


Feature article............................................................ 32 Methodology ............................................................. 33 5-Star Insurance Law Firms 2021........................... 35 5-Star Insurance Lawyers 2021............................... 36 Profile.......................................................................... 37

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THE SUPERSTARS OF INSURANCE LAW OVER THE past year, insurance law firms and lawyers have been working overtime to determine whether insureds have any standing to make claims for COVID-19related loss of business under their business interruption policies. Earlier this year, the UK Supreme Court found in favor of policyholders in a business interruption insurance test case that has had ramifications around the world – but it’s unlikely to have much impact on legal precedent in the US. As of the end of May, around 1,880 lawsuits had been filed regarding business interruption coverage in state and federal courts in the US, according to the University of Penn-

sylvania Carey Law School’s COVID Coverage Litigation Tracker. Burr & Forman attorneys Walker Beauchamp and Briana Montminy noted in a post on JD Supra that “around 80% to 90% of all COVID-19 property insurance cases have resulted in dismissal.” Beauchamp and Montminy also pointed out that the number of lawsuits has been waning as the pandemic winds down and prospective litigants have found relief from government stimulus programs. “US courts in most jurisdictions have now weighed in on the legal question of whether such government-ordered closures, and the resulting economic loss, are covered under a

“We have seen COVID claims in the first-party property area as businesses try to find relief from the downturn” Sara M. Thorpe, Nicolaides Fink Thorpe Michaelides Sullivan

WHAT ARE THE BIGGEST LEGAL ISSUES FACING THE INSURANCE INDUSTRY? The COVID-19 pandemic 44% Sexual abuse/molestation 15% Asbestos, lead, pollution and other environmental concerns 15% Climate change 6% Opioids 6% Construction 2% Cyber 2%


standard property insurance policy, absent any actual physical damage,” the pair wrote. “The key language in such policies requires ‘direct physical loss of or damage to property.’ An overwhelming majority of courts have said this requires concrete physical damage; a mere temporary closure to shoppers or diners is not enough, even if governmentordered for public safety reasons.” The judicial trend toward dismissal of COVID-19-related business interruption lawsuits means different things depending on which side of the courtroom you’re on. “We have seen COVID claims in the firstparty property area as businesses – hotels, restaurants, services – try to find relief from the downturn in their business,” says Sara M. Thorpe, a partner at Nicolaides Fink Thorpe Michaelides Sullivan and one of IBA’s 5-Star Insurance Lawyers. “We are assisting in eval-

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uating claims; however, the claims do not involve ‘direct physical loss of or damage’ to the insured property or adjacent property.” In addition to commercial first-party property, Thorpe lists workers’ compensation, employer liability and fiduciary liability as top COVID-19-related areas of concern. Anthony Bartell, a partner at McCarter & English and another of IBA’s 5-Star Insurance Lawyers, believes business interruption claims are just the tip of the COVID-19 iceberg. He also envisions the potential for general liability claims from customers who caught COVID-19 at a supermarket or another retail or business establishment, product liability claims regarding COVID-19 vaccines, management liability tied to the economic impact of the pandemic, EPLI claims for discrimination against workers who refuse to be vaccinated, and professional liability for producers failing to deliver policies for pandemic-related losses.

Beyond the pandemic While it might dominate the conversation, COVID-19 is far from the only issue facing insurance law firms and lawyers today. “People used to ask, ‘What is going to be the next asbestos?’ – meaning what’s going to be the next awful type of mass claim that’s going to bring the insurance industry to its knees?” Thorpe says. “Well, it turns out it’s not one but many things: ovarian cancer from talc, opioids, sex abuse in athletics/religious organizations/youth settings, wildfires. Computer/privacy hacking may be next.” Meanwhile, Bartell is focused on helping his policyholder clients purchase adequate cyber and cannabis-related coverage – and he’s optimistic about the future of the insurance law sector. “COVID coverage issues, hopefully, will crystallize over the next year as appellate courts weigh in on the disputes,” he says. “I also believe Democratic control of the federal government may lead to the enactment of tighter corporate regulations and more stringent enforcement of existing regulations.

Both implicate the purchase of, and claims under, D&O and other management liability policies and perhaps EPLI policies.”

Insurance lawyers’ top concerns As part of the survey to determine the top insurance lawyers and law firms in the country, IBA asked insurance law experts what they thought were the biggest legal issues facing the insurance industry at the moment. Not surprisingly, nearly half (44%) said that the COVID-19 pandemic was the biggest concern, particularly regarding business interruption and workers’ comp. “Business interruption is mainly where the fights are, along with workers’ compensation, where there are lots of claims, [and] employers’ liability,” said one respondent, who added that “COVID will have an impact on reinsurance also.” Other insurance lawyers said they were allocating half or more of their time to pandemic-related concerns. “Half of [my] work at the moment is COVID-related and mainly business interruption,” said one respondent, while another estimated that pandemic concerns were taking up 80% of their time, also centered around “business interruption, coverages, loss of business income.” Other COVID19-related legal matters revolve around testing, treatment, diagnosis, hospitalization and ventilators. A considerable proportion of lawyers (15%) said sexual abuse is another major issue confronting the insurance world, driven by cases involving the Catholic Church, the Boy Scouts, USA Gymnastics and public schools. Respondents detailed thousands of cases against those entities, noting that coverage for this risk is very difficult to find. Another 15% of the lawyers IBA surveyed pointed to asbestos, lead, pollution and environmental contamination as top concerns. “Asbestos is still ongoing and will be for the foreseeable future,” one respondent said. Another noted that “asbestos has changed over time and is more complex now with bankruptcy issues. Pollution rules

METHODOLOGY To determine the best lawyers and law firms catering to the insurance industry, Insurance Business America sourced feedback from insurance leaders over a period of 15 weeks. IBA’s research team began by conducting a survey with a wide range of insurance companies to determine what insurers value in the law firms they collaborate with. The in-depth information gleaned from this survey enabled the research team to assign weighted values to the services offered by law firms to their insurance industry clients. The research team also spoke to hundreds of insurance professionals across the country by phone, asking them to rate the insurance law firms and lawyers they had worked with over the previous 12 months. In addition, the team sought the opinions of insurance lawyers themselves to find out which law firms they would recommend besides their own. At the end of the research period, the law firms and lawyers that received the highest rankings in terms of work quality, specialist expertise and client service were declared 5-Star Award winners in the field of insurance law.

81% of insurance lawyers say they expect more work this year

16% say they expect their workload to remain consistent this year

3% of insurance lawyers say they expect less work this year

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The aftermath of the COVID-19 pandemic


Fallout from the Texas deep freeze 8% Asbestos


Opioids 5% Sexual abuse


Environmental concerns


Pharmaceutical product liability


AI and driverless cars




“The real fun and challenge of insurance coverage work is that one never really knows what lurks behind the next corner” Anthony Bartell, McCarter & English are getting fairly settled, and loss is more subtle.” Another respondent pointed out that new environmental risks are emerging all the time, making this a growing area of insurance law: “Scientists are finding out more about chemicals in cosmetics, herbicides and industrial products that have damaging effects on people and the environment; the more they find out, the more appellate cases there will be.” Fewer respondents (6%) highlighted climate change as a pressing issue in the insurance law sector, although 26% said they expect it to become a top concern over


the next five years. “Climate change – wildfires, Texas – has had a huge impact on catastrophe and property coverage,” said one respondent. Another disagreed, however, saying that “climate change is getting fairly creative theories but not getting much traction at the moment.” Another 6% of respondents were concerned about the opioid epidemic, noting that issues of negligence are making their way through the courts. “[We’re] dealing with the public nuisance in the pharmaceutical area of opioids, where local governments are suing corporations, doctors and

drug distributors that failed to maintain effective controls over their drugs,” one insurance law expert said. Another respondent noted that “opioids coverage claims are still moving forward, dealing with the manufacturers and nationwide pharmacies, and this year and next there will be a lot of coverage rulings and decisions as to whether there is opioid coverage.” At the bottom of the list of insurance lawyers’ concerns were construction and cyber, each of which were named as a pressing issue by only 2% of respondents. In construction, several lawyers highlighted construction defects as a driver of disputes, along with water damage, contractor malpractice and catastrophic weather events. Many respondents mentioned cyber as an area of insurance law that’s likely to become more prominent in the near future – 15% of the insurance law experts IBA surveyed said they expect cyber to be a major issue over the next five years, especially amid the massive shift to remote work brought on by the pandemic. “Cybersecurity is going to be huge,” one respondent said, noting that “working from home allows employees to harm and store things that wouldn’t be possible if they were working in an office.” Another brought up the specter of statesponsored cyber intrusion: “The consequential damage is where information can be used against companies – stolen patents and lists of customers. There is no dispute that there is no damage, but is it covered, and if so, how much?” These issues, along with other areas of risk that have yet to emerge, are sure to keep this year’s 5-Star Insurance Law Firms and Lawyers busy. “The real fun and challenge of insurance coverage work is that one never really knows what lurks behind the next corner,” Bartell says. “Eighteen months ago, who could have guessed the industry would be grappling with pandemic-related coverage issues? The unknowns keep us all in suspense and on our toes.”

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McCarter & English

Bressler, Amery and Ross

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo

Carlson, Calladine & Peterson

Mound Cotton Wollan & Greengrass

Chaffetz Lindsey

Nicolaides Fink Thorpe Michaelides Sullivan

Choate, Hall & Stewart

O’Melveny & Myers

Clyde & Co

Porter Wright Morris & Arthur

Coughlin Duffy


Crowell & Moring

Schiff Hardin

Debevoise & Plimpton

Selman Breitman

Dickinson Wright

Shipman & Goodwin

Duane Morris

Sneed Law Firm

Foran Glennon

Simpson Thacher & Bartlett

Freeborn & Peters

Steptoe & Johnson

Gibson, Dunn & Crutcher

Stroock & Stroock & Lavan

Greenberg Traurig

Troutman Pepper

Locke Lord

Willkie Farr & Gallagher

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2021 David A. Attisani Partner Choate, Hall & Stewart Phone: 617-248-5000 Website: Allison Tam Partner Willkie Farr & Gallagher Anthony Bartell Partner McCarter & English Antonia B. Ianiello Partner Steptoe & Johnson Bill Sneed Principal Sneed Law Firm Charles Blair Partner Troutman Pepper Charlie Scibetta Founding partner Chaffetz Lindsey Cynthia J. Borrelli Principal Bressler, Amery and Ross David Spector Partner Schiff Hardin Ernesto Palomo Partner Locke Lord Harry P. Cohen Partner Crowell & Moring Ira Belcove Partner Porter Wright Morris & Arthur James Rocap Partner Steptoe & Johnson James Ruggeri Co-managing partner Shipman & Goodwin



Jon Neumann Shareholder Greenberg Traurig

Nicholas Potter Partner Debevoise & Plimpton

Jonathan Hacker Partner O’Melveny & Myers

Nick DiGiovanni Partner Locke Lord

Joseph Schiavone Member Saiber

Paul Killion Partner Duane Morris

Joyce C. Wang Partner Carlson, Calladine & Peterson

Paul Koepff Partner Clyde & Co

Julie Mahaney Partner Locke Lord

Peter Chaffetz Founding partner Chaffetz Lindsey

Kevin Haas Partner Clyde & Co

Philip Matthews Partner Duane Morris

Kevin T. Coughlin Partner Coughlin Midlige & Garland

Richard Goetz Co-chair, litigation department O’Melveny & Myers

Laura Foggan Partner Crowell & Moring

Robert J. Bates Jr. Partner BatesCarey

Leslie S. Ahari Partner Clyde & Co

Robert Lewin Partner Stroock & Stroock & Lavan

Marc Abrams Member Mintz, Levin, Cohn, Ferris, Glovsky and Popeo

Sara M. Thorpe Partner Nicolaides Fink Thorpe Michaelides Sullivan

Marilyn Lion Partner Debevoise & Plimpton

Sarah Gordon Partner Steptoe & Johnson

Marjie Barrows Of counsel Foran Glennon

Steven Schwartz Partner Chaffetz Lindsey

Mark Plevin Partner Crowell & Moring

Stuart Cotton Senior counsel Mound Cotton Wollan & Greengrass

Mary Beth Forshaw Partner Simpson Thacher & Bartlett

Thomas Bush Partner Freeborn & Peters

Michele Jacobson Partner Stroock & Stroock & Lavan

Timothy Strong Insurance litigation partner Dickinson Wright

Neil Selman Partner Selman Breitman

William T. Corbett Jr. Partner Coughlin Midlige & Garland

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DAVID ATTISANI Partner Choate, Hall & Stewart

or David Attisani, authenticity is priority No. 1 when working with clients. “My highest value with clients and more generally in my professional life is authenticity,” said Attisani, an equity partner with Choate, Hall & Stewart LLP. “In my view, it is also exceptionally important to proffer affirmative recommendations to clients. I prepare for every call, every email exchange, every meeting – with my tactical and other recommendations in mind. I owe them my best advice in support of their most significant decisions.” Having been with Choate, Hall & Stewart LLP for nearly 30 years, Attisani is a partner focused on problem-solving, shaping, and winning high-profile disputes. Favoring a personal and bespoke approach to his client groups, Attisani also provides coverage evaluations, wordings advice, and market analysis. Among the many high profile claims for which Attisani has served as lead counsel are COVID-19 BI, WC, and collateral trapping; California wildfires; NFL CTE; and Boy Scouts of America and school-related sex abuse issues. His clients include global insurers and reinsurers Swiss Re, Munich Re, Endurance/ Sompo, Chubb, Sompo, Partner Re, The Hartford, Aeolus, Symetra, and MIIA. “Although I’ve served insurers and reinsurers almost exclusively for nearly 30 years, each one is a little different. Each has its own ethos and priorities, so they sometimes approach similar issues in different ways. I never deviate from my core principles, but I do try to conform my approach to their specific needs, rather than asking them to accept my agenda.”

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21/12/2018 4:49:29 AM




Advocating for telematics Bo Birtwell of Brown & Brown Insurance tells IBA why all insurance brokers need to board the telematics train

TELEMATICS TOOLS are transforming trucking and fleet management. Telematics allow companies to gather data about vehicle location, driver behavior and real-time engine diagnostics, which can help them reduce their insurance premiums by minimizing risk and encouraging safer driving. The uptake of telematics in the commercial auto industry has taken a while to shift out of first gear due to concerns around the upfront investment cost for entire fleets, uncertainty about sharing data with insurance companies and pushback from drivers concerned about the ‘Big Brother’ feeling of the technology. However, over the past few years, things have changed. Trucking companies and fleet operators have started to realize the benefits of telematics solutions, and they now welcome the technology for its positive safety and operational impacts. “It’s reached a point where almost all of our clients in the trucking business use some form of telematics,” says Bo Birtwell, senior vice president at Brown & Brown Insurance. “They’re embracing the technology for a number of reasons. Not only can telematics improve driver safety, but the technology also generates analytics and reports that help companies pinpoint opportunities for risk reduction.”


Those reports can help insurance brokers and agents paint a more accurate picture of an insured’s risk profile to carriers, potentially helping to lower their insurance premiums. This is a significant value-add in the current hard market, where commercial auto insurers have raised rates and restricted coverage in reaction to years of deteriorating loss ratios. Telematics also help to validate vehicle usage, which will be critical as more insurers start to write policies based on mileage. “The conversation in telematics has shifted towards the use of video technology,” Birtwell says. “With artificial intelligence and the way that technology has progressed within the cameras, not only can trucking companies and fleet managers look backward at irregularities that have already happened, but they can get updates in real time. “You can certainly do the same without

a camera, but I would argue that telematics without video only really tells half of the story. Telematics solutions are typically triggered if there are irregularities in braking, speed and other driving behaviors – and that can happen all the time. But with cameras, you can see exactly what was happening both inside and outside the vehicle at the point of irregularity. If there’s a collision or an incident on the road, the camera can tell the entire story, which can have a significant impact on the outcome of a claim.” It can take some time for telematics to result in a reduction in premiums. Some insurers will offer immediate discounts, but at the moment, the offerings still “vary widely,” Birtwell says. However, he’s noticed that companies that embrace telematics with video often see a relatively immediate reduction in the frequency and severity of claims,

ABOUT BROWN & BROWN Founded in Daytona Beach, Florida, in 1939, Brown & Brown has more than 11,000 employees in over 300 locations and is currently the fifth largest insurance brokerage in the US. Brown & Brown offers a wide range of business and personal insurance, employee benefits, and risk management solutions, leveraging both its scale as a large company and the collective wisdom of its decentralized business units and local offices.

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SIX KEY BENEFITS OF TELEMATICS Improve fleet safety Reduce operating costs Reduce risk and save money on insurance premiums Boost service excellence Reimagine driver training Monitor sustainability

“Not only can telematics improve driver safety, but the technology also generates analytics and reports that help companies pinpoint opportunities for risk reduction”

which can be leveraged over time to drive down the cost of risk. “I think it’s important for brokers and agents to advocate for telematics and for us to help our current and prospective clients to understand how the different functionalities of telematics are really a good return on investment,” Birtwell says. “We’ve got to be able to look at the impact on claims for organizations that have implemented telematics and share that with our clients who might not be doing anything. And we’ve also got to work with our insurers around how telematics is going impact premiums, risk assessment and claims management. “We have a lot of real-life examples within our client base where the telematics and cameras have prevented significant accidents. So it’s up to us to be advocates of telematics for our clients and potentially help them as they go through the selection of the system and deciding how they’re going to use the data and who’s going to have access to it. I believe it’s really important for brokers and agents to be a part of the process and the conversation around how our clients and prospects are going to implement telematics.”

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ECO WARRIOR Environmental insurance specialist Gina Jones’ passion for the natural world is evident both inside and outside of work Jones loves to get up close a nd personal with nature by traveling a nd hiking in places like Arches National Park

THE IMPORTANCE of caring for the environment was impressed upon Gina Jones at a young age, via a TV commercial she saw in the early 1970s. “It featured someone crying while surrounded by smog and large amounts of trash,” Jones says. “At one point, a bag of rubbish was tossed from a car, landing at the person’s feet. I knew then that we had to be better, and I wanted to be better.” Currently the vice president and director of environmental programs at Burns & Wilcox, Jones makes sure to be environmentally conscious at work. She supports the company’s recycling and composting programs and its work with organizations such as 4Ocean, which helps clean up the ocean. Outside of work, Jones’ most unforgettable encounter with nature happened during a wildlife trip in Africa. “We came across a pride of lions that had just captured a kill, and we watched as they ate and lounged while still guarding their territory,” she says. “We also watched as hyenas and vultures approached the lions – it was spectacular to see the circle of life.”


Age when Jones first began to consider herself an environmentalist



Years she has spent working in environmental insurance

14,065 ft

Height of Mt. Bierstadt, the highest mountain she has climbed

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GROWING FOR GOLD Insurance is a competitive industry – and, for female professionals, systemic barriers make it all the more demanding. To get ahead in 2021, you’ll need to look for innovative, outside-the-box strategies – and who better to get these from than the women who have succeeded on the world’s top stage? Join us at Women in Insurance and you’ll learn Olympic strategies you can apply in your business. Former medalists share their insights on competition, teamwork and goal-setting – revealing the strategies you need to stand out from the pack in a rapidly changing market. Insurance Business is proud to announce a few of the keynote speakers who will be joining us:






ELANA MEYERS TAYLOR 3x Winter Olympian and medalist, Bobsled



JANET EVANS 4x Olympic gold medalist, Swimming





NANCY KERRIGAN 2x Olympic medalist, Figure Skating

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DANELLE UMSTEAD 3x Paralympic medalist, Skiing



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