Future of Risk

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Please note that this episode was recorded prior to Hurricanes Helene and Milton. 

In the final episode of the “Market in Transition” miniseries on the Future of Risk podcast, Eric Cittadino, Head of Programs at Zurich North America, and Dawn Hiestand, Head of Group Captives at Zurich North America, explore specialized insurance segments: Programs and Captives. With Programs, Cittadino explains that Zurich grants underwriting authority to Program Administrators to cater to underserved markets, focusing on mid-tier and small to medium-size businesses. Dawn Hiestand discusses Captives, through which companies form their own insurance company to manage their own risk and carriers provide fronting services. She outlines various captive structures such as single-parent captives and member-owned group captives. Both guests delve into the shifts in customer profiles and capacity challenges that are making Programs and Captives less alternative and more mainstream in today’s risk management landscape.

Recorded 9/13/24

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Please note that this episode was recorded prior to Hurricanes Helene and Milton. 

In the third episode of the “Market in Transition” miniseries, guests Toby Cushing, Technical Director of Casualty at Zurich North America, and David Strickland, Head of Casualty Risk Engineering with Zurich Resilience Solutions, discuss the rising frequency and severity of auto accidents and what is being done to address the concerning risk trends. This episode delves into key issues such as driver speed and distractions and the positive impact that technological and infrastructure investments could have on road safety. Cushing and Strickland also emphasize the importance of driver qualifications and safety standards.

Recorded 9/13/24

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Please note that this episode was recorded prior to Hurricanes Helene and Milton. 

Recent moderation in property insurance rates, after 26 consecutive quarters of increases, coincided with increased severe convective storm activity through last spring and predictions of a hyperactive hurricane season. In the second episode of the “Market in Transition” podcast miniseries, guests Joffre Mishall, Head of Large Property for U.S. National Accounts; Grace Ries, Head of Middle Market Property; and Adam Hurley, VP of Property Risk Engineering for Zurich Resilience Solutions, discuss the delicate balance between rate moderation and extreme weather risks. Listen as they provide guidance on how businesses can build resilience for the long term. They discuss key strategies for investing in risk management, maintaining updated valuations, engaging with underwriters and leveraging risk engineering support. 

Note: This episode was recorded prior to Hurricanes Helene and Milton. In the days since those hurricanes, Joffre Mishall has shared additional insights on the interplay of hurricanes and the rate environment, adding: “The 2024 hurricane season is living up to predictions, as we had Helene and Milton impact Florida and beyond just a couple of weeks apart, with Milton also causing spinoff tornadoes that inflicted heavy damage. Are these market-changing events? It’s too soon to tell. We will have a better idea at the start of January, a key renewal date. We also still have several weeks to go in hurricane season. But these storms prove one thing: The commercial property insurance market is fragile, and the risks are increasingly volatile.” 

Recorded: 9/19/24

https://www.futureofrisk.com

Please note that this episode was recorded prior to Hurricanes Helene and Milton. 

“Much like the stock market day-to-day, people are looking for signs of what's going to happen into the future and markets respond accordingly. So, a hailstorm in Texas can have an immediate impact on some carriers thinking about where that's going to go and where the results are going to be. So, it doesn't take a lot to move the market right now.”

In the first episode of Zurich North America’s “Market in Transition” podcast miniseries, Alex Wells, Head of U.S. Middle Market, and Al Orendorff, Chief Communications Officer, discuss the fragile balance between rate moderation in some lines of insurance and the reality of intensifying risks such as extreme weather. The discussion delves into key dynamics in Property, General Liability and Auto coverages, including social inflation, and unique concerns for Middle Market companies.

01:02 Property dynamics

02:21 Evolving weather patterns

04:16 Unique middle market challenges

06:01 Mitigating Risk

08:18 Supporting growth

11:25 Auto fleet risk

16:38 Impact of social inflation

Record date: 09/03/24

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The final episode of the "Road to Relief: finding a path to accessible, affordable healthcare,” podcast miniseries, features Rick Holmes, President of Lakeshore Benefit Alliance, and Chris Howard, Head of Market Management for Zurich North America's Life Accident and Health. They provide insights into the primary challenges that American employers and employees encounter due to rising healthcare costs, including increasing premiums and out-of-pocket expenses.

Listen as they discuss proactive solutions such as Stop-Loss and GAP medical supplemental health insurance products, which aim to make healthcare more affordable and accessible.

Record date: 3/26/24

Air date: 6/19/24

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In part-two of the podcast miniseries, “Road to Relief, finding a path to accessible, affordable healthcare,” Shane Foss, Founder and Chief Executive Officer of Hooray Health and David Fike, CEO of Cover-More Group and Head of LA&H for Zurich North America, focus on the complexities of the U.S. healthcare system and delve deep into the challenges that are impacting Americans as they navigate through tackling high deductibles and out-of-pocket costs to simplifying the enrollment process. Listen as they shed light on how Hooray Health and Zurich North America are revolutionizing the healthcare industry to empower listeners with the knowledge, peace of mind and financial security that supplemental insurance can provide.

Record date: 03/12/24

Air date: 06/05/24

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This is the first in our three-episode miniseries, "Road to Relief: Finding a Path to Accessible Affordable Healthcare." "Future of Risk" by Zurich North America dives deep into the challenges in the U.S. healthcare system and potential solutions to improve accessibility to quality and affordable care. 

Dr. Nina McIlree, Director of Wellbeing and Employee Experience highlights issues such as rising healthcare costs, increasing bureaucracy, labor shortages, the pressures on physicians and the healthcare system that ultimately affects the patient. While strides have been made in healthcare delivery, significant hurdles remain. Addressing the need for a collaborative effort from all stakeholders to ensure quality healthcare.

Record date: 3/15/24

Air date: 5/22/24

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Marie Knight, Head of Direct Markets Strategic Services with Zurich North America addresses the current trends and challenges facing auto dealers. Knight provides valuable insights into the effects on dealerships and offers optimistic projections on the ways in which today’s dealerships are leveraging innovative thinking to tackle emerging challenges. Despite facing many hurdles over the last few years, Knight discusses how auto dealerships have consistently demonstrated adaptability and resilience.

RECORD DATE: 3/19/24

futureofrisk.com

As a trailblazer of “big data,” insurance companies have been responsible for providing businesses with claims data insight to improve loss outcomes and to mitigate risks. Zurich North America’s Kris Shalda, Senior Vice President and Head of Claims Customer Relationship Management; and Larry Zeiner, Claims Vice President and Region Manager for the Claims Relationship Management, give a deeper understanding of how using big data drives changes in behavior, identifies the need for different coverages and provides awareness of loss trends.

www.FutureOfRisk.com

Financial institutions comprise a dynamic industry that faces a number of challenges today, from the current economy to new technology and more. This episode explores those challenges. Zurich North America’s Stan Bernard, Head of Financial Institutions & Professional Services, U.S. Middle Market; and Alex Muralles Head of Financial Institutions, U.S. National Accounts, provide insight on how businesses can meet these challenges prepared and successful.

Record date: 2/20/24

Air date: 3/13/24