D&O
Alyssa Wade / Marsh
Supply Chain/Cargo
Diane Grand / ECIB
Cyber
Chris Keegan / B&B
Casualty
Jason Ross / Lockton
Property
Brian Wanat / Aon
100

True or false, lead Side A pricing always follows the rate change on the ABC tower. 

False

100

In the wake of Covid, the Russia/Ukraine war and the Panama canal drought, the growing trend of supply chain realignment includes moving manufacturing closer to the demand.

What is "near-shoring"

100

More capacity for large-scale cyber risks is driving this phenomenon. 

What is the current evolution of the cyber insurance market for large companies?

100

Name a collateral instrument insurance companies will accept on loss sensitive casualty programs.

LOC / Surety / Trust / Depleting Cash

100

The last year quarters complex property accounts had a negative rate change.

What is Q3’17 and Q2’24?

200

True or False, the Olympics, hosted in Paris, was a large contributing factor considered in public company D&O underwriting. 

False
200

In March of 2021 this body of water was blocked for six days when the vessel named "The Ever Given" ran aground.

What is the Suez Canal. 

200

This area is experiencing continued downward pressure.

What are cyber insurance premiums?

200

True or False:
Increasing a deductible will lower your collateral need for a loss sensitive program

FALSE

200

This property concerns represents $262M in Economic Loss or 69% 

What is the protection gap from Global Natural Disasters in 2023.

300

Generally speaking, program rates changed for public company D&O buyers by what percentage in the 1st quarter of 2024.

a) > +15%
b) +5%
c) flat
d) -7%
e) -15%

d) - 7%

300

A recent exclusion added to cargo marine policies focuses on these 5 countries: USA, China, Russia, Britian and France. 

What is "The Five Power War Clause" exclusion. 

300

Overall renewal rates in the cyber insurance market. 

What is flat to -10%. 

300

Reasons why an Underwriter purchase facultative reinsurance?

1) Opportunistic on price to get more aggressive on their terms
2) Lay off risk to lower the net exposure on the deal (this could be UW preference or internal guidelines)
3) Market Intelligence

300

66 economic and 37 insured loss events in global natural catastrophic losses

What are the number of > billion-dollar NAT-CAT loss events in 2023? The highest on record.

400

Following the SolarWinds data breach of 2020, D&O clients became very focused on this definition. 

What is the definition of an "Executive", or Who is an Individual Insured?

400

This term, governed by the International Chamber of Commerce is used to determine responsibility for freight charges and risk of loss / damage on an international shipment. 

What are INCOTERMS?

400

Insurers have attempted, with little overall success, to introduce this clause to limit their overall aggregation. 

What are Systemic Loss Clauses


400

What is the difference between Facultative and Treaty Reinsurance?

Facultative Insurance provides support for an individual account
Treaty Insurance provides support for a book of business.

400

The most damaging natural peril for insurers in 2023.

What are Severe convective storms?

500

In May, this state became the 1st to govern the use of AI in the private sector

What is Colorado?

500

The maritime law requiring all the cargo owners on a sea venture when experiencing a maritime emergency to proportionately share in any losses related to that ship/vessel.

What is General Average?

500

Professional services, education, and manufacturing sectors have this cyber phenomenon in common. 

Where are a higher frequency of cyber insurance claims?

500

What are tactics that insurance companies take to correct an unprofitable lead umbrella placement?

Cut capacity, raise attachment, increase rate, introduce a corridor

500

Business Interruption and Supply Chain or Distribution Failure.

Two of the top risks identified by organizations in the 2023/2024 Global Risk Management Survey. (#2 and #6)

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