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

Did the number of securities class actions increase or decrease in 2023, from the prior year.

Increase

100

Port operations are a vital part of the global supply chain. This upcoming labor event will impact both the East and Gulf ports of the US. 

What is the International Longshoremen's Association contract. 

100

This is a driver for cyber risk and contingent business interruption. 

What is Digital Supply Chain?


100

The practice where third party funders provide money to a plaintiff or plaintiff's counsel in exchange for a cut of the proceeds resulting from the underlying litigation or settlement. 

What is Third Party Litigation Funding?

100

On a schedule of values and included with COPE data, this is the correct term for items such as number of stories, year built and roof age



What are Secondary Characteristics or Modifiers.  

200

True or false, in the private company D&O space, insurers provide full limits for anti-trust coverage

FALSE

200

The M/V Dali was carrying more than 1 million gallons of fuel when it hit this structure.

What is the Francis Scott Key Bridge. 

200

This activity may be excluded from cyber coverage as it has become an underwriting focus. 

What is Pixel Tracking

200

True or False? If an Insurance Company has a combined ratio of 101%, then they can NOT make a profit

FALSE

Insurance companies can make a considerable amount of money on investment income.

200

The two terms for flooding caused by intense rainfall (flash flooding) and overflow of rivers and streams. 

What are Pluvial and Fluvial.

300

1. Within the last year and a half, the SEC has not adopted which of these disclosure rules for publicly traded companies:                                                     a.Cyber disclosures
b.Climate disclosures
c.Artificial Intelligence disclosures

c.Artificial Intelligence disclosures

300

This area of global supply chain usually does not get much attention, but it refers to an accumulation of cargo in any one location, ocean terminal or vessel. 

What is Concentration of Risk. 

300

War exclusions.

What clause has Lloyds focused its attention on and is being revised by carriers?

300

These are contributing factors that have led to a challenged auto environment. 

What are: Distracted drivers, inflation, supply chain issues, higher cost of technology within vehicles

300

According to FM Global the average cost increase since July 2023 of completed building prices in the Continental U.S.

What is 1.5%?

400

A relatively new SEC rule prohibits D&O insurance coverage that is paid for by a company to pay for 

What is compensation that is clawed back

400

This term is used when an insurance company denies your cargo claim when there is no physical evidence of loss or damage to the cargo. 

What is fear of loss. 

400

Biometrics

What has been the cause of large judgements and is a hot-button issue for underwriters?

400

How inflation creates  both headwinds and tailwinds for the insurance company?

Headwind: Legacy Reserving Pressure / Price Adequacy / Cost to repair and replace
Tailwind: Can lead to increased premium given the higher exposure

400

This emerging method of transferring risk triggers insurance capital based on independent data describing catastrophic events (examples include windspeed for hurricanes, ground shaking intensity for earthquakes), creating a benefit for insureds via quick access to liquidity.

What is Parametric Insurance?

500

At the end of June the U.S. Supreme Court overturned this doctrine

What is the Chevron deference (aka Chevron doctrine)

500

This term is used when referring to any additional tax / duties applied to imports from China where the US feels they are violating fair trade practices. 

What are the 301 China tariffs?

500

Organizations use this practice to manage and understand cyber risk and potentially reduce their premium costs. 

What is a Risk Assessment?

500

The way to secure punitive damage coverage without leaving it up to the specific state jurisdiction?
Reminder: Punitive Damages are the payment that a defendant found guilt of committing a wrong or offense is ordered to pay on top of compensatory damages.  They are designed to punish defendants whose conduct is considered grossly negligent or intentional.

What are Offshore Punitive Damage Wraps - Bermuda or London Placements

500

For insureds seeking a formalized way to manage their retained risk, this regulated solution allows them to be the “underwriter of choice” and provides a mechanism to access reinsurance capital.

What is captive insurance company?

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