Coverage of the Cover Holders and Risk Takers-Exchange Conferences
Brokers and underwriters at the CHART-Exchange conference in Baltimore court one another with the goal of placing coverages--including some that traditionally have remained within North American markets--with the London Market.
Glenn Clark, president, Rockwood Programs, and founder, CHART-Exchange, said meaningful insurance agency growth comes from new risk products and programs, not simply from agencies buying one another.
Scott Addis, CEO, Beyond Insurance, said agents and brokers must move beyond bidding for business and focus on consulting with insureds and diagnosing their risk needs.
Jonathan Mudd, divisional director, Brit Global Specialty, said Lloyd's is attempting to consolidate audits to lessen the burden on coverholders working with multiple syndicates.
Duncan Dale, CEO, Dale Underwriting Partners, said his syndicate, which started three years ago, has broadened its operations and is actively penetrating the broker market.
Sheila Shaw, senior vice president, Irwin Siegel Agency, said medical clinics, behavioral health and a host of other services are hard to place in standard markets, which means looking further afield for coverage.
Earl Burkett, president, Strong Tower Insurance, hopes to create insurance coverage for those who must defend themselves in court because their religious beliefs contradict laws or regulations.
Robert Hilb, CEO, Hilb Group, said the London market formerly was dominated by large brokers and companies but is growing more hospitable to smaller specialized placements.
Calvin Foster, managing director, NewCastle Risk Management Consulting, said larger brokerages must continue to pursue acquisitions or experience a growth slowdown, which would risk disappointing shareholders.
Bill Fahy, president, Alliance Program Services, said smaller independent insurance agents should expand their product offerings in order to offset tightening commissions for auto business.
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