Lisa Katterman, president, PAMIC, said the Philadelphia Contributionship, founded by Benjamin Franklin, is one of the oldest mutual insurers in the United States.

Guillermo Franco, head of research, Guy Carpenter, said many mutual insurers have a high degree of trust, making them good candidates to offer parametric coverage. Franco spoke with AM Best TV at the Pennsylvania Association of Mutual Insurance Companies' annual conference, held in Hershey, Pennsylvania.

Robert Pignataro and Frank Fazio, both of Ultimate Risk Services, said smaller businesses may enact cyber defenses but many have difficulty maintaining them.

Adam Pichon, vice president and general manager of auto insurance for LexisNexis Risk Solutions, discusses the latest company report that examines shopping and buying trends that detail how both shopping and buying increased in the fourth quarter of 2022.

Jeff Huebner, chief risk officer for CSAA Insurance Group, discusses the company’s backing of a fund that supports the remediation of excess wood from California forests in an effort to mitigate the spread of wildfire.

Risk management and insurance are changing and so too must today's risk professionals, said Peter Miller, president and CEO, The Institutes. Going forward, more emphasis will be placed on pre-loss: risk mitigation and risk control.

Allister Yu, senior vice president of operations at Rhoads, a provider of insurance technology solutions, explains that as insurance markets rapidly change, companies must make sure their distribution partners are properly credentialed.

Despite new challenges on the horizon, U.S. life/annuity insurers navigated the pandemic and emerged with solid balance sheets, capitalization and liquidity, said Edward Kohlberg, director, AM Best, referencing a new Best's Market Segment Report.

Despite numerous economic challenges, surety bond underwriters have maintained profitability by keeping losses relatively low, said AM Best Associate Director David Blades and Senior Financial Analyst Robert Valenta.

Live audiences, effects and high-profile individuals are among insurers’ safety and order concerns for awards shows such as the Academy Awards, said Kurt Miner, managing director of Allianz Risk Consulting’s Entertainment Division.