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Why brokers may face E&O exposure due to COVID-19

January 20, 2021 by Adam Malik

One prominent industry observer is “quite concerned” that brokers may be facing errors and omissions risk exposure due to COVID-19, especially if court decisions go a certain way. For Phil Cook, chairman of Omega Insurance Holdings, the risk is that

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What underwriters can do to help brokers during a hard market

December 9, 2020 by Adam Malik

They say timing is everything, and that is particularly true of brokers working with underwriters. The earlier underwriters can tell brokers about the market challenges they are facing, what they deem to be an important part of a submission, and

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What insurers want brokers to stop doing

November 30, 2020 by Adam Malik

Brokers who take a broad, scattershot approach to getting submissions approved by underwriters are only setting themselves — and their clients — up for failure and disappointment, an insurance executive warned during a recent webinar. For a better chance at

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COVID-19 doesn’t mean putting your career on hold: Insurer exec

November 24, 2020 by Adam Malik

The global COVID-19 pandemic has changed the way people work and learn but similar to how brokerages and insurance companies continued to operate in a new environment, learning and growth opportunities shouldn’t have to stop, said the leader of an

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Why parametric options should be on every broker’s radar

October 15, 2020 by Adam Malik

Advising clients of parametric options will allow brokers and insurers to enhance their value and open up opportunities to provide more options for risk transfer and solutions to coverage issues that couldn’t be solved under traditional measures, says an insurer

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Learning from the mistakes of pandemic coverage

October 9, 2020 by Adam Malik

There are lessons to be learned from the current COVID-19 pandemic about how to protect clients against future pandemic losses, senior industry executives say. The Wimbledon Championships’ pandemic coverage, for example, was generally hailed as a success. The famed tennis

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How long will it take to get out of this hard market?

September 28, 2020 by Adam Malik

After setting aside as to whether or not we’re in a hard market, industry consultant Phil Cook said he expects the hard market to last into 2022. Cook, who is also chairman of Omega Insurance Holdings, typically gives his Industry

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‘Bold and underline that’ — What this Aon exec says is the top reinsurance issue

September 25, 2020 by Adam Malik

Social inflation is the top item of concern for an Aon reinsurance executive, even if it’s an issue being exacerbated in the United States rather than in Canada. “I would bold and underline that — that is, I think, the

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Aon exec urges the industry to ‘try to do better’ at offering basic coverages

September 22, 2020 by Adam Malik

The property and casualty insurance industry needs to to a better job of ensuring that basic coverages — such as protection from water and fire — are available to clients and that there isn’t a protection gap, said Matt Wolfe,

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Aon exec discusses industry ‘sins’ and puts COVID claims into perspective

September 16, 2020 by Adam Malik

Riding the wave of high interest rates years ago, some P&C insurers and reinsurers overlooked their escalating combined ratios, an industry exec recently observed during a webinar. And that’s coming back to bite the industry now that the global COVID-19

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Why recruitment experts say brokers need to change their image

December 3, 2019 by Greg Meckbach

Finding it harder to recruit young people? Try explaining what insurance brokerage employees actually do, panelists advised brokers at a recent conference. “People who don’t work in the insurance industry have a distorted view of what it’s like to be