Coverage of the Cover Holders and Risk Takers-Exchange Conferences
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.
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.
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.
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