Coverage of the Cover Holders and Risk Takers-Exchange Conferences
John Bennis, president, MGA Systems, said many Insurers and MGAs are turning to portals and automation to boost sales and cut expenses.
Andrew Biggio, president, First Indemnity Insurance Agency, said attorneys should be covered in a broad fashion for liability from wrongful and prior acts, cyber exposures, licensure issues and more.
Jonathan Swann, director, CFC Underwriting, said early cyber claims largely focused on breach, but 75% of today's claims are for ransomware and phishing incidents, making it more akin to crime coverage.
Brokers at the third annual CHART-Exchange conference, held in Baltimore, said they rely on the London insurance market to provide coverages for risks deemed too specialized or challenging for standard insurers.
Thomas Wilson, partner, Wilson Elser, said brokers and managers looking to launch an insurance program often devote more than a year to starting up, and face a range of regulatory requirements.
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