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.
The regulatory environment is evolving in its oversight of predictive models in insurance. As the use of predictive analytics continues to grow within the industry, preparing for regulatory review is integral to the success of your insurance program. This webinar will discuss common supporting documents needed for regulatory review of predictive models as well as recent trends in predictive analytics.
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.
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.
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.
Learn about the wealth of insurance industry-related information NAMIC’s online resource centers have to offer. If you are curious about topics such as corporate governance, compliance, reinsurance, and strategic planning, the first portion of this webinar will provide a brief overview of the resources you can access as a NAMIC member. The second portion will provide an in-depth tour of our newest resource centers on cybersecurity and COVID-19.
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.