This session will focus on statements as an investigative tool. It will examine various types of statements, including written statements, recorded statements, and examinations under oath, as well as how and why they are taken. Guidelines for statements that involve unique situations will also be provided.
This presentation will provide an outline of the evolution of the legal cannabis industry to date, including seed-to-sale companies and ancillary businesses, and industry predictions. The presenters will focus on providing clarity of what medical and recreational use is and is not, current state and federal legislative actions, and how hemp and CBD different from cannabis. The session will address challenges and issues impacting the insurance industry during this period of growth and how they will evolve. It will close with a discussion of risks, opportunities, and questions that exist for insurance companies.
While third-party actions provide little control over costs incurred by an injured party, workers’ compensation laws provide a host of procedures that can reduce medical costs and reduce indemnity benefits. This session will explore cost-containment strategies that can be used to reduce medical costs and the costs of indemnity in workers’ compensation claims.
The virtual Farm Mutual Forum is an online gathering of small and midsize mutual insurance professionals and is designed to provide technical and strategic educational sessions that encompass the aspects of running and working with farm mutual companies. The new virtual format for 2020 will feature the same great topics and outstanding speakers, newly added COVID-19 industry update session, the flexibility to watch live or on-demand, and the ability to connect with service providers and sponsors at a one-on-one level.
Since insurance regulators transitioned to working remotely due to the COVID-19 pandemic, the property/casualty insurance filings sector has seen a frenzy of activity including state-required premium refund filings and evolving positions on the review and approval of rate and form filings. Get the latest filing-related updates, learn how filing activity within the industry as a whole is trending, and pick up tips on how to get your next rates and form filing project approved faster during these uncertain times for insurers.
In the wake of the very poor results suffered by commercial auto writers in the United States, attention has turned toward liability and umbrella results, and the signs are concerning. Throughout 2019, there was increasing industry commentary on social inflation as a key cause of deteriorating casualty results. Social inflation generally refers to the rising costs of insurance claims that are a result of societal trends and views toward increased litigation, broader contract interpretations, plaintiff-friendly legal decisions, and larger jury awards. This session will explore social inflation and its impact on casualty lines.
The Leadership Development Workshop Virtual Conference is a highly interactive and engaging one-and-a-half day immersive experience for insurance professionals who are looking to develop their team leadership and management skills. The new virtual format for 2020 will feature the same great topics and outstanding speakers, newly added COVID-19 industry update sessions, the flexibility to watch live or on-demand, and the ability to connect with fellow attendees and sponsors a one-on-one level.
This session will explore how underinsured motorists and uninsured motorists claims can create an adversarial relationship with insureds. The coverage, what it means for claims professionals, and how to approach resolution of the insured’s claim will all be explained.
This course will provide a high-level overview of the underwriting process. This webinar qualifies for one FMDC elective or maintenance credit in the Operations & Insurance module.
From equipment breakdown, employment practices liability insurance, cyber, liquor, professional, flood, and more, there are turnkey solutions to help carriers get into lines of business quickly, efficiently, and with the expertise and backing of specialty reinsurers. This session will take a high-level look at typical turnkey products. It will explore the basics of how the products work and touch on how carriers can work closely with their reinsurer of choice to collaborate on existing products and new ideas.
The amount of information that bombards us daily too frequently obscures true insight. Intelligence should drive better innovation, but unless it is strategically collected and used, it functions like an engaging distraction. Innovation starts with discovery — where an innovator pinpoints an important customer problem to solve – and smart companies intertwine customer intelligence throughout their innovation processes. This presentation will discuss how to effectively capture ground-level intelligence by asking the right questions and how to identify undiscovered customer needs to build innovation and move leaps and bounds beyond your competition.
The latest climate data available clearly indicates significant changes in weather indices, which when combined with changing exposures are materially impacting insurance underwriting and claims experiences. The industry is responding in many new, innovative ways to more effectively position themselves, mitigate increased risk, and profit from resulting emerging opportunities. During this session, attendees will learn about the actions being taken by leading carriers and leave with practical recommendations for tangible next steps for mutual insurers.
This session will identify difference types of experts and analyze how and when they are used in the claims handling process. It will also explore how experts should be vetted to ensure the best outcome on a case when they are used.
Directors’ Bootcamp 2.0 offer directors the opportunity to immerse themselves in the world of corporate governance within the mutual insurance industry. Whether your board is new to governing, new to insurance, or just needs a refresher, Directors’ Bootcamp 2.0 is an investment you can make in your company’s future. In this multi-day interactive virtual event for 2020, your board members will gain the tools and the knowledge they need to effectively govern within the mutual insurance industry.
Hackers are getting smarter, but is your cyber insurance coverage keeping up? Join this session to learn about the evolving cyber threats and the newest methods hackers are using to disrupt computer systems and access valuable data. See how to map these emerging exposures to cyber insurance coverage and learn how to look for cyber policies that can keep up with current and future risks. Finally, discover how technology is helping analyze and manage cyber risks as well as provide loss modeling for your cyber program.
When it comes to how insurance works in the marijuana industry, it can be a problem if you don’t know your facts. This session will provide an overview of the various types of insurance policies the cannabis industry is seeking – property/casualty and directors and officers, for example –and the issues that arise with each of them. It will discuss various insurance issues in the marijuana industry such as enforceability/non-enforceability of insurance policies. The presenter will also touch on how insurance companies can ensure that they don't inadvertently insure cannabis activity.
Cases involving complex medical issues can be difficult to resolve and will often require additional investigation by claims professionals. This session will concentrate on medical conditions that can be exacerbated by a bona fide injury claim. It will also cover addictions that can arise because of the type of care following an injury This will include opioid addictions and co-morbidities such as diabetes or obesity.
As the data world is evolving, the insurance market is at a crossroad. Carriers need to weigh the balance between speed and profitability during the underwriting process. During the underwriting process, there are several unknowns about the property at the time of underwriting. With an increase in catastrophes and weather-related events impacting combined ratios, carriers are finding it harder to grow profitably. Carriers are not able to inspect every property, and underwriters cannot review every application in detail. This session will highlight how carriers will be able to leverage emerging technologies to better understand the unknowns and make well-informed underwriting decisions. The session will also discuss the evolution of home inspections, the impact of computer vision and machine learning in underwriting, and what the future might have in store.
Agricultural enterprises are depending on drones more and more to improve productivity and reduce costs. Claims organizations are also beginning to use drones as tools for evaluating losses. Attendees will learn background information on drones and their uses as well as current information regarding federal regulation of drones. This session will be of assistance whether a claims professional is using drones in the investigative process or is handling a claim because of coverage for an insured.
This session will focus on code and regulatory requirements for safe, secure cannabis operations. Discussion topics will include fire safety considerations associated with cultivation structures, oil extraction equipment, gas detection systems, carbon dioxide enrichment systems, and horticultural lighting.
Insurance companies maintain a wide variety of computer records to support their insurance business. State and federal laws and court cases establish the principles for legally creating, maintaining and destroying computer records. How do you create computer records that will be considered reliable, accurate and acceptable for regulatory and litigation purposes? How do you systematically destroy computer records under your records retention program? How you can avoid the legal and information management problems of electronic mail? Join Don Skupsky as he reviews the basic legal expectations and requirements for computer records. The key state and federal laws will be reviewed and analyzed in plain English, leading to a plan of action for a legally-acceptable computer records program.
Learn how you can leverage your agencies’ digital marketing to strengthen the relationship with them, increase brand awareness, and generate increased policy sales for your organization and your agencies by taking on digital marketing coordination and support.
This course will provide an understanding of the impact that different types of retirement plans can have on a small mutual insurance company. This webinar qualifies for one FMDC elective or maintenance credit in the Finance & Accounting module.
As profit margins shrink and customer expectations rise, finding new ways to automate high-volume, repetitive manual tasks is key to accelerating response times and delivering exceptional customer service. Being able to speed up policy issuance, achieve contract certainty, and reduce policy rework are essential in a world where competitive differentiation will no longer be based solely on product or price, but rather on experience. In this session, attendees will learn how artificial intelligence can help take underwriting to the next level.
The presentation will explore cannabis’s various risk classifications types – from seed to sale – and the unique exposures each risk presents. Additional context will be provided about underwriting considerations for main coverages, including property, crop, financial lines, and stock throughput. The session will conclude with a discussion on unaddressed market needs and potential areas for growth.
Learn the latest compensation trends in the property/casualty insurance industry as Kaitlyn Isley of McLagan reveals new data from the NAMIC Property/Casualty Compensation Survey. This webinar will review overall data trends in pay and provide insights on what top companies are doing to recruit top talent.
Artificial intelligence and machine learning technology is reshaping the traditional claims handling process. Beginning at first notice of loss, AI and ML engines can perform assignment triage through early severity and fraud identification. These technologies can also provide adjusters new insight into resolution strategies. However, in most claims situations, AI and ML are augmenting adjuster expertise, not replacing it. This session will focus on the various types of AI and ML technologies and how they are being used in the claims handling process.
Join experts from New England Asset Management as they explore investment trends for property/casualty insurers from the latest NAMIC PIPES Report and dive into the impact of recent economic turmoil on the industry.
A number of states have either enacted privacy laws specifically addressing biometric information or have expanded existing laws to include biometric information. Generally, these laws create obligations concerning disclosures and consents related to the collection, storage, and use of biometric identifiers, which typically includes things like retina or iris scans, fingerprints, voiceprints, and facial scans used to identify a specific individual. The Illinois Biometric Information Privacy Act (BIPA) has garnered the most attention. Hundreds of BIPA class action lawsuits have been filed, sometimes resulting in multi-million dollar settlements. In this session, we will provide an overview of current U.S. biometric privacy laws and related litigation. We will also discuss insurance coverage issues arising from biometric privacy claims and highlight issues that insurers should focus on during the underwriting process to access a company’s potential exposure.
What you do matters to a lot of people, so what you know about what’s coming for our industry matters, too. That’s why the NAMIC Annual Convention focuses on emerging-issue and company operation education. With sessions designed exclusively for the C-suite, senior company leaders, and board members, plus educational tours balanced with casual networking opportunities, we’re ready to help you maximize your time out of the office. We’re bringing together the most respected experts and the most valuable resources, like reinsurers, brokers, rating agencies, and other service partners to help you get the access you need and strengthen your peer network.
This session will provide a comprehensive review of the reinsurance options available to underwriters and how they can be used most efficiently. Attendees will dive into an overview of the different types of reinsurance – proportional, excess of loss, treaty, facultative and hybrid facultative facilities. In addition to evaluating the benefits and drawbacks of each from a coverage perspective, attendees will touch on pricing considerations and how/when to use each structure to secure the optimal coverage. The discussion will also cover the different considerations that arise between property and casualty placements, terms and conditions, and price evaluation.
In litigious insurance states, there are certain issues that more frequently give rise to disputes and lawsuits between carriers and insureds. Learn which disputes turn into litigation more often and how to minimize their risks. In addition, hear and see how underwriting tailored to address these issues can mitigate the frequency of being sued and the settlement value of the dispute. Topics to cover include depreciation, cosmetic damage exclusions, anti-concurrent causation clauses, suit limitation clauses, appraisal clauses, attempt-to-repair clauses, and excluded perils/losses generally.
This session will define the current state of the insurance workforce and discuss what companies should be considering when adapting to the challenges and changes in technology and talent management.
This session is designed to help participants understand customers and the importance of building a cohesive experience that is truly customer centric. This session will cover how customer experience and expectations are evolving and how to harness the power of customers’ needs while building meaningful, memorable, and stand-out user experiences.
This session will discuss the basics of PTSD, explain strategies for early recognition and evaluation of potential PTSD claims, promote understanding of approaches being used by claimants to increase value of bodily injury claims by alleging PTSD, and provide defense strategies for bringing these claims to successful resolution.
This course will provide an understanding of potential conflicts of interest and what effect they may have on a mutual insurance company. This webinar qualifies for one FMDC elective or maintenance credit in the Management module.
This session provides insight as to the impact of fraud on the insurance industry, gives an overview of the types of fraud commonly seen in insurance, and discusses methods of combating fraud.
The use of insurance linked securities in ceded reinsurance programs continues to expand. What began decades ago with industry loss warranties and cat bonds has grown to substantially include sidecars and collateralized reinsurance. This session will provide a high-level overview of ILS instruments and how they complement the use of traditional reinsurance. It will then discuss recent activities in the ILS market relative to catastrophe events that occurred between 2017 and 2019. Finally, it will touch on the ILS funds’ expanding appetite for non-cat risk, including short-tail liability lines, cyber risk, and run-off portfolios.
In today’s fully saturated market, insurers are challenged with the constant objective to improve pricing accuracy and underwriting. This is no easy feat, particularly because the breadth and depth of data available for underwriting is steadily increasing. Insurance carriers face the challenge of identifying what’s available, prioritizing it for analytics and validation and ultimately deploying incremental improvements to their rating plans. In this session, attendees will learn how to improve pricing accuracy by digging deeper into the data.
Whether you agree with the legalization and use of recreational or medicinal marijuana, 47 states have changed the substance’s legal status, and workplaces need to be prepared to address the myriad of issues it presents. Because many drug-free-workplace polices are now outdated, employers should ask themselves several questions. “Is our policy too punitive?” “Can we be sued for discrimination?” “Can we terminate an employee with a legal prescription if he or she tests positive?” With the current state of marijuana legislation, there is no doubt the answers are changing. What isn’t in question, however, are the facts that employers need policies regarding drug use and those policies must address intoxication and impairment in the workplace. Join this session to learn more about how legal drugs are impacting the workplace and solutions to workplace liabilities.
As of January 2020, 47 states have legalized marijuana for medical and/or recreational use. The session will begin with a broad overview of the regulatory environment and then drill into the data to see what it has to say. It will also tease out the early impacts of marijuana legalization as well as the risks – and even potential benefits – beneath the news headlines.
You can insure a home and two cars on your phone in a few minutes. Try to spend the same amount of time on a business owner policy and your experience will be … different. Small commercial customers want easier service, carriers want lower expenses, and technology offers new data and tools. This combination allows small commercial insurance to provide the personal insurance experience of instantaneous responses based on robust data and sophisticated modeling. This session will discuss the motivations for this shift and demonstrate examples for implementation.
The Communications + Marketing Workshop was created to address the unique challenges of marketing and advertising, managing internal communications, connecting your company to the media and your policyholders, and branding a mutual insurance company. The new virtual format for 2020 will feature the same great topics and outstanding speakers, newly added COVID-19 industry update sessions, the flexibility to watch live or on-demand, and the ability to connect with vendors and sponsors at a one-on-one level.
Sixty-four percent of insurers say policyholders’ personal, identifiable information is the most valuable information cyberthieves seek. The impact of a breach can be devastating, as data breaches cost an average of $3.9 million per incident and significantly erode consumer confidence in a brand. During this session, Jeff Brown will discuss the hurdles the industry faces in handling payment data alongside sensitive consumer data and offer advice for combatting these security risks. Strategies include conducting vulnerability assessments, training employees, and requiring third-party service providers to have specific security credentials.
Digital marketing is the next frontier in marketing and communications. The ability to connect with your audience in just a few keystrokes gives us access in a whole new way. This webinar will give you the foundation for planning and developing a digital marketing strategy that best suits your audience.
Technology can be intimidating. How do you train your staff? How do you begin to implement this new technology? How do you know which you should invest in? These are all valid questions and ones that must be taken seriously when trying to succeed in the new decade of technology. Mobile estimating is one technology that is worth the investment, as it can be a game changer in training new and existing staff and satisfying customer expectations. This webinar will demonstrate how quickly a loss can be estimated while on site to streamline the claims process.
As mutual companies work to stave off competition, many are seeking state-of-the-art cyber solutions for their personal, commercial, and farm books. Yet, without prior underwriting or claims experience, is it too risky to jump into the cyber business? Select cyber experts are now offering turnkey cyber programs to mutual carriers as “reinsured” solutions. This allows the mutual to introduce leading-edge cyber liability coverage while avoiding research and development costs, overhead, and the assumption of risk. Join this session for a practical and topical discussion of cyber risks and innovative uses of reinsurance partnerships.
Frustration is what we hear throughout the industry when confronting bodily injury claims emanating from low-impact collisions. The damages are so minor, common sense screams “No one could have been injured.” Yet, because liability is clear or they want to avoid litigation expenses, insurers settle these claims with substantial sums every day. This presentation provides a process to attack these suspect claims with a consistent investigative and dispositive strategy at an early stage. Focus will not center around the analysis of medical records concerning treatment of subjective complaints of soft-tissue injuries. Rather, the presentation will assess the element of causation and the credibility of the claimant. Attendees will be provided with a clear game plan on how to approach these claims in a way that will contain costs, reduce indemnification, and avoid litigation.
It is human for us to panic when we don’t get the results we want. We get defensive and are not able to hear someone else. When someone is disappointed, learn how to be open and curious to hear what they are saying. It is important to take responsibility and to ask questions so that you can create a win-win solution for all. During this session, attendees will learn how to deal with a difficult customer and how to ensure your customer experiences end on a positive note.
Insurance is one of the last industries to operate on a single platform that allows all participants to connect to it, interact with one another, create and exchange value, and encourage long-term, ongoing engagement. This session will outline the emergence of insurance ecosystems that are replacing traditional insurance agency management systems and single-product, direct-to-consumer models.
This fast-paced and interactive event was created for property/casualty insurance professionals to learn about the latest technology and industry consulting solutions through 10-minute presentations from leading insurtech providers.
The presentation will involve discussion of a large, complex arson-for-profit scheme of more than 70 arsons that ultimately culminated in more than 40 defendants pleading guilty. Only two of the 70 fires were classified as “incendiary” by public and/or private origin-and-cause investigators prior to this case being concluded. The presentation will also include a synopsis regarding lessons learned by the speaker during this two-and-a-half year investigation, while employed as a special agent/Certified Fire Investigator with the Bureau of Alcohol, Tobacco, Firearms, and Explosives. Highlights will include a brief analysis of interaction with insurance industry representatives and content of insurance files, origin-and-cause investigation issues, proper and thorough interviewing, and expert selection.
This course will provide a high-level overview of the claims and adjusting process. This webinar qualifies for one FMDC elective or maintenance credit in the Operations & Insurance module.
This course will dive deep into the audit function in the mutual insurance industry and issues companies may face. This webinar qualifies for one FMDC elective or maintenance credit in the Finance & Accounting module.
The NAMIC Claims Conference is an annual conference designed for Claims leaders and professionals within property/casualty mutual insurance companies. At the conference, leaders just like you discover things they may have never known were there – a group of allies, a sounding board, and peers with similar experiences gathered together. With educational sessions focused on peer-developed topics, highly rated roundtable discussions for sharing experiences, and unique opportunities to build your network, the conference offers something for everyone within Claims leadership. Connecting with peers can give you the support and perspective can help you embrace the power of the mutual community.
Share your insights, gather valuable information on current issues and learn more about industry trends at this annual two day event designed for mid-to senior-level underwriters, managers, and executives. With informative presentations from insurance industry experts and consultants, numerous networking opportunities, and easy access to commercial lines service providers, you don’t want to miss this leading industry event.