D&O
Alyssa Wade / Marsh
Alyssa Wade / Marsh
True or false, as we move into the second half of 2024, excess public company carriers are continuing to offer double digit decreases
FALSE
Currently, these two e-commerce companies make up about 80% of imported cargo that moves via passenger airplanes into the United States.
Who are Shein and Temu?
Increasing competition on upper layers of cyber towers.
What is driving reductions in excess pricing?
True or False:
Nuclear jury verdicts are those that surpass $10 million, while those that exceed $100 million are referred to "thermonuclear verdicts"
TRUE
The warmest year on record.
What is 2023?
High levels of merger activity and use of AI are just two reasons that this industry remains particularly challenging for markets to offer competitive terms
Healthcare
The financial burden that freight carriers are responsible for if proven liable for loss or damage while cargo is in their possession is called _________________.
What is Legal Liability
Cyber insurance buyers susceptible to increases.
What are companies that do not demonstrate year-over-year improvements to IT security controls or have recent incidents?
What casualty line of business has been most profitable for the insurance marketplace (WC/GL/Auto/Umbrella).
WC - 2023 was the 10th consecutive year of profitability for workers’ compensation insurers and
seventh consecutive year in which they recorded a combined ratio of less than 90% (according to NCCI)
Predicted to be a well-above average season, with 23 named storms.
What is the Atlantic hurricane season?
True of false, private company D&O clients have enjoyed the same level of rate decreases over the last several quarters as public companies
False
Yeman and Djibouti border this body of water where 12% of the world trades passes through.
What is the Red Sea
Increased in frequency throughout 2023.
What are Ransomware attacks?
What are a few factors contributing to large claims payments?
Social Inflation, third party litigation funding, challenging jurisdictions
The type of Property program structure that is experiencing the most competition.
What is Shared and Layered.
This excess D&O market that became a player following the SPAC IPO boom a few years ago also shares a name with a town in Union County NJ.
Who is Westfield?
This is the oldest type of insurance, it's origins date back to 3000 BC in China but it was more formalized in Italy in the 1200's.
What is ocean marine insurance?
Companies benefiting from considerable market competition.
Who are those with best-in-class controls?
What is the purpose of collateral with respect to a casualty placement?
Collateral is secured by insurance companies to secure their credit risk for loss sensitive programs. This includes go forward loss projections and legacy liabilities.
On October 15, 2012 this massive natural disaster made landfall at Brigantine, NJ resulting in more than $30B in economic damages across the state.
What is Super Storm Sandy.
This new primary D&O coverage offering protects the entity. Hint, its not side C coverage!
What is Entity Investigation
Cargo policies have seen several endorsments in the past five years, can you name two?
Communicable Disease, Five Power War Clause, War Risk in Ukraine/Russia, Belarus, Black Sea and Sea of Azov, Israel - no inland coverage on international shipments, Gaza - no coverage, Cyber Endorsement
Greater than $1B in 2024
What are recent losses by Change Healthcare and Meta (Biometric settlement with Texas)
What variables impact a loss development factor
State mix, line of business, industry class, retention or limit size
These four words are generally referred to by the acronym COPE.
Construction, Occupancy Protection and Exposure.