DiscoverPlacing You First Insurance Podcast by CRC Group
Placing You First Insurance Podcast by CRC Group
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Placing You First Insurance Podcast by CRC Group

Author: CRC Group

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The Placing You First Podcast spans a diverse spectrum of insurance industry issues to keep you and your clients informed.
51 Episodes
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Healthcare is a diverse industry, ranging from individual practitioners and home health nurses to ambulatory care centers and integrated systems with revenues in the billions of dollars. The risks along that spectrum also vary widely, but the insurance marketplace for healthcare organizations has been almost uniformly tight. Several insurance companies that underwrote healthcare business for decades have withdrawn from some classes, citing high loss ratios. In their place, new sources of capacity have emerged. Historically, the presence of new entrants has signaled competition and a loosening of terms, conditions, and rates. Unfortunately for insureds, that is not happening in the current marketplace. It's a challenging environment that requires retailers to approach the renewal process differently.Featured in this Episode:Bob Allen is president of Pro-Praxis, a CRC Group company providing specialty programs to large healthcare organizations, based in New York.Rusty Hughes is a senior broker in the Birmingham, Alabama, office of CRC Group.Alex Gould is a broker in the Birmingham, Alabama, office of CRC Group.Subscribe to CRC Group on YoutubeSubscribe to Tools & Intel (email newsletter)Read Past Tools & Intel ArticlesFollow CRC Group on LinkedIn
Costly litigation alleging violations of the Telephone Consumer Protection Act (TCPA) has made coverage hard to get for businesses that contact customers and prospects by phone or text. We explore why markets for TPCA risks are scarce and how to work with a knowledgeable wholesale broker to help insureds.Featuring:Harold Field is Office President of CRC New York and a member of the ExecPro practice group.Subscribe to CRC Group on YoutubeSubscribe to Tools & Intel (email newsletter)Read Past Tools & Intel ArticlesFollow CRC Group on LinkedIn
Visit TheInsurer.com for more information about this interview.Recently, CRC Group's CEO Dave Obenauer sat down with David Bull from the Insurer to discuss the state of the E&S Marketplace.  It was a great conversation, and we're happy to share it with you."Strong growth in the E&S market shows no sign of letting up as a confluence of loss events, and a greater awareness of risk drives demand for products and solutions that are best innovated in the sector, according to CRC Group CEO Dave Obenauer.With record levels of business flowing through the wholesale channel, data from the US Surplus Lines Service and Stamping Offices for the first half of 2021 shows that premium soared 22 percent to $24bn.Speaking to The Insurer TV in the latest of our Leading Voices series, Obenauer said the current E&S market is the best he’s seen in terms of demand and supply."
Featuring: Camille Knight is a Senior Broker with our CRC Indianapolis team, located in Kentucky. She has extensive experience and specializes in aviation relation risks.As the aviation industry rebounds from a massive pandemic-induced downturn, aviation insurance rates are rising as insurers seek to address prior-year losses and the industry’s evolving risks. Interest in private jet purchases and rentals have surged as more business fliers and individuals avoid public carriers for health reasons. The pandemic has also provided an extra boost to the rapidly growing unmanned aerial vehicle industry since camera-equipped drones can perform many tasks at lower risk and without personal contact.Rising insurance prices in the aviation industry come amid historic losses for commercial aviation. The COVID-19 pandemic made 2020 the worst year in history for air travel demand, according to the International Air Transport Association.1 The IATA expects net airline industry losses of $47.7 billion in 2021, which marks a massive improvement from estimated net losses of $126.4 billion in 2020.2As the aviation industry recovers, it faces an insurance market that has been hardening for several years. The rise in rates for aviation coverage has followed big losses such as the disappearance of Malaysia Airlines Flight 370 with 239 people aboard in March 2014. Five years later, two crashes of Boeing’s recently introduced 737 Max within five months added impetus to the insurance market hardening: An Indonesia Lion Air Boeing 737 Max crashed in October 2018, killing 189 people, and in March 2019 an Ethiopian Airlines Boeing 737 Max crashed shortly after takeoff with 157 people aboard. The losses extended beyond the crashes as hundreds of Boeing 737 Max airliners were grounded around the world, resulting in significant grounding liability claims in addition to liability and hull loss claims.
The REDY Index leverages CRC Group’s collection of actionable data – the wholesale industry’s largest. It provides critical pricing analysis monthly, giving you a snapshot of the marketplace. The REDY Index generates instant intelligence on pricing trends by industry or coverage, enabling our retail partners to set accurate data- driven expectations with their clients. Removing the guesswork empowers CRC team members to negotiate competitively, consistently producing better outcomes, better deliverables, and better results.This month CRC Group released a new set of REDY Index reports.  These reports harness wholesale’s most extensive data set to give retail agents a powerful tool to discuss pricing with their insureds. Neil Kessler, Chief Operating Officer of CRC Group, and Garrett Koehn, CRC’S brokerage co-president, walk us through what we need to know about the reports.Access the REDY Index Reports
Amid the stubborn coronavirus pandemic, institutional capital and developer investment has paused, forcing contractors to take a wait-and-see approach for their direction in 2021 and beyond. While the industry cheered the economic comeback of the third quarter after a record second-quarter slowdown, developers and builders remain cautious, particularly in sectors deeply affected by the pandemic and the associated shutdowns – namely office buildings and hospitality. Well-capitalized projects, including those funded by municipal bonds, appear set to continue on plan while other more speculative investments have been sidelined indefinitely.Featuring:Nathan Levine is a Senior Vice President in CRC’s Boca Raton, FL office and active member of the Casualty Practice GroupMichael V. Yovino is an active member of the Casualty Practice Group and Senior Vice President in CRC’s Long Island, New York office.Download a Shareable PDF Article from this Podcast 
Americans learned just how vital the trucking industry is to daily life during the early days of the COVID-19 pandemic. Truck drivers all across the country witnessed an outpouring of public recognition and gratitude as the nation coped with shipping delays and supply shortages\. As the economy works to recover, trucking will continue to play an essential role, making it more important than ever that trucking companies protect business operations. Often overlooked, occupational accident insurance should be a key component of any trucking company’s risk management program.ContributorAlek Turko is a Managing Underwriter and Office President with 5Star Specialty Programs, a division of CRC Group. Alek and his team specialize in providing trucking insurance solutions in the for-hire trucking, leased owner-operator, and public auto spaces.5Star is a full-service MGA, and subsidiary of CRC Group, offering unmatched expertise in the trucking, public auto, and Worker’s Compensation sectors. With more than 30 years in the industry and strong partnerships with multiple highly rated carriers, 5Star writes both fleet and individual policies, making it easier for trucking companies to sponsor a program and ensure that every leased driver has adequate coverage with known limits. Along with occupational accident insurance, 5Star also offers Worker’s Compensation to cover non-leased drivers such as company drivers, clerical staff, mechanics, and company owners. Non-Trucking Liability (NTL) and Physical Damage policies, as well as Contingent Liability is also available.Subscribe to Tools & Intel (email newsletter)Read Past Tools & Intel ArticlesFollow CRC Group on LinkedIn
The road ahead may be opening up in the primary auto market after last year’s nationwide economic dislocation brought on by the pandemic. The trucking industry, in particular, endured months of turmoil amid massive shifts in demand as people nationwide began not only working from home—but also staying at home after work. In commercial auto, the shutdown-induced reduction in traffic congestion may have brought a decline in accident frequency. That would be welcome news for insurers in a market where the combined ratio overall has remained above 100 for a decade. FeaturingStewart Brown, TRIP is Senior Vice President & Senior Broker and CRC Transportation’s Southwest Regional Manager. He is also a member of the Casualty Practice Advisory Committee.Pete Feeney leads CRC Transportation as Regional Director and is located in Scarborough, Maine.
Wage and Hour (W&H) exposure is an often misunderstood and frequently underinsured risk. It is commonly — and incorrectly — assumed that W&H claims are restricted to either misclassification of exempt/non-exempt employment status or failure to pay overtime. However, W&H liability also includes allegations such as underpayment of overtime, miscalculation of wages, refusal to allow employee breaks, expecting off-the-clock work, not paying employees regularly, refusal to pay exempt employees for absences, not paying for time required to put on or remove protective gear or clothing, and only adhering to federal minimum wage guidelines when state guidelines warrant higher pay.Featuring:Allyson Benda is a Senior Broker, Vice President located in CRC’s Nashville office and a member of the ExecPro Advisory Committee.Subscribe to Tools & Intel (email newsletter)Read Past Tools & Intel ArticlesFollow CRC Group on LinkedIn
The West Coast has its unique challenges like earthquakes and wildfires. These factors make for a property market that is diverse and ever-changing. In this episode, we check in with two CRC property specialists who have a lot of experience dealing with West Coast property.  How tough are rates and capacity?  How long will the challenging market last?  Are there any signs of easing? Featuring two members of CRC’s Property Practice that writes over $3 billion in property premium annually:·       Jim Sipich is a broker from the CRC San Francisco office.  LinkedIn·       Jonathan White is a broker from the CRC’s Bothell office.  LinkedInSubscribe to Tools & Intel (email newsletter)Read Past Tools & Intel ArticlesFollow CRC Group on LinkedIn
Week after week, hackers and cybercriminals launch new phishing campaigns, develop creative digital extortion threats, and expand scams with the potential to negatively impact business operations in a big way. Cyberattacks can halt online operations in only minutes and take weeks to resolve. In addition, a cyberattack that involves the loss of customer data can result in expensive litigation that seriously impacts a company’s bottom line.Featuring:Darren Valencia is a Vice President located in CRC’s Nashville office and active member of the ExecPro practice group and member of the Cyber Specialty Team.Mark Smith is a Senior Vice President in CRC’s Seattle office. He is an active member of the ExecPro practice group and member of the Cyber Specialty Team.Subscribe to Tools & Intel (email newsletter)Read Past Tools & Intel ArticlesFollow CRC Group on LinkedIn
Mold has been a part of our environment for millions of years, and there are more than 100,000 mold species naturally occurring on Earth.  While mold spores are tiny in size, they can mean big trouble for hotels and resorts. Mold has consistently been a loss leader for the hospitality industry insurers, but its impact has expanded over the last few years, with primary claim drivers including undetected HVAC or plumbing system issues, construction defects, and catastrophic hurricane and flooding activity that create an ideal environment for mold growth.Featuring:Jim Hamilton is the leader of CRC’s Environmental Practice Group and a Senior Broker in the Denver, Colorado office. He specializes in Environmental Insurance, managing a large portfolio of hospitality clients.Sean McLaughlin is an Associate Broker in the CRC Environmental Practice Group and is located in CRC’s Denver office.Subscribe to CRC Group on YoutubeSubscribe to Tools & Intel (email newsletter)Read Past Tools & Intel ArticlesFollow CRC Group on LinkedIn
 At the beginning of the COVID-19 pandemic, employers moved quickly to develop and implement remote work-from-home protocols to protect employees. Almost a year since it all began, employers are starting to develop return to work plans. Well-known finance giants, Goldman Sachs, and JPMorgan Chase, are delaying their return after initially attempting to bring workers back near the end of 2020 only to send many workers home again after employees tested positive for the virus. Other large companies including Ford, Google, Facebook, and Target, have also stated that they’ll postpone return-to-office dates until at least summer 2021.4 As restrictions loosen or expire and vaccines slowly roll out, employers that start bringing employees back to the office will be faced with an increased risk of COVID-19-related Employment Practices Liability (EPL) claims.1 Smart employers will proactively evaluate return to work plans from both a legal and insurance perspective to ensure they are protecting business operations and employee health. 
The property market remains challenging in 2021.  How are agents, wholesalers, and markets dealing with the hard market?  We discuss a wide range of issues surrounding the difficult Property market.Featuring:David Pagoumian is the President of the CRC Red Bank, NJ office. David specializes in property placements and is an active member of the Property Practice Advisory Committee.Subscribe to Tools & Intel (email newsletter)Read Past Tools & Intel ArticlesFollow CRC Group on LinkedIn
This is the state of the market for property in the northeastern United States, including trends about rates, capacity, limits, and COVID-19.2020 was a very different year for property insurance.  The industry weathered COVID-19, the elections, a record number of named storms, wildfires, and more. As we begin 2021,  it's a great time to discuss the state of the market for property. In the coming weeks, we will release more information about the state of the market for all of CRC Group's major lines of business.Featuring:Stephen Brennan | Senior Property Broker, CRC New York, NYSubscribe to CRC Group on YoutubeSubscribe to Tools & Intel (email newsletter)Read Past Tools & Intel ArticlesFollow CRC Group on LinkedIn
This is the state of the market for property in the central and southeastern United States, including trends about rates, capacity, limits, and COVID-19. 2020 has been a very different year for property insurance.  The industry has weather COVID-19, the elections, a record number of named storms, wildfires, and more. As we approach the end of 2020,  it's a great time to discuss the state of the market for property. In the coming weeks, we will release more information about the state of the market for all of CRC Group's major lines of business.Featuring:Paul Martin | CRC Group Property Broker in Birmingham, AL and Member of the Property Practice Advisory CouncilStacey Newman |  CRC Group Senior Vice President/Property Broker in Chicago, IL, and Member of the Property Practice Advisory CouncilSubscribe to CRC Group on YoutubeSubscribe to Tools & Intel (email newsletter)Read Past Tools & Intel ArticlesFollow CRC Group on LinkedIn
Casualty capacity is shrinking and the market remains challenging.  How are agents, wholesalers, and markets dealing with the hard market?  We sit down with two CRC Casualty specialists to discuss a wide range of issues surrounding the difficult Casualty market.Featuring:Vladimir PerazaCasualty and Property Broker from CRC New York Stewart BrownTransportation and Casualty Broker from CRC SeattleSubscribe to CRC Group on YoutubeSubscribe to Tools & Intel (email newsletter)Read Past Tools & Intel ArticlesFollow CRC Group on LinkedIn
A growing number of organizations are using biometric data, such as fingerprints and retinal scans, as a convenient way to improve security. From touchpads that unlock smartphones and computers, to scanners providing access to places of business, biometric data seems to be a fast, easy and secure way to authenticate individuals and unlock access.Download a Shareable PDF Version of this ArticleThe risks of collecting and storing biometric data, however, are high, and they require closer scrutiny. What’s more, insurance policies might not respond to claims alleging violation of biometric data privacy laws, creating coverage gaps.Featuring:Mark Waldeck is the Office President of CRC Chicago and an active member of CRC Group’s ExecPro Practice Group.Sebastian Swain is a Director with CRC’s Los Angeles office and an active member of CRC’s ExecPro Practice Group.Subscribe to CRC Group on YoutubeSubscribe to Tools & Intel (email newsletter)Read Past Tools & Intel ArticlesFollow CRC Group on LinkedIn
Everyone knows the fine print matters, but it is especially important when it comes to the additional insured endorsements sometimes requested by partners. Clauses requiring such endorsements can be expensive in ways insureds may not realize. Understanding the hidden costs of an additional insured endorsement can keep an insured from unfairly paying for another’s mistakes or unintentionally elevating insurance costs. Contractual provisions requiring additional insured endorsements can vary, and the differences can make a world of difference.Episode Links:Negley AssociatesMental Health Risk Retention GroupSubscribe to Tools & Intel (email newsletter)Read Past Tools & Intel ArticlesFollow CRC Group on LinkedInFeaturing:Susan Cohen - MSW is the Executive Vice President and leader of Negley Associates, a CRC Group Program. Sue and her team are located in Parsippany, NJ where they specialize exclusively in the behavioral healthcare, addiction, andsocial services space.Ron Zimmet - Mr. Ron Zimmet has practiced trial law in central Florida since 1975 and has served as General Counsel for the Mental Health Risk Retention Group (MHRRG), an insurance company owned exclusively by behavioral healthcare providers, for more than 33 years. While he is responsible for providing risk management services to those insured by MHRRG, he also serves as a consultant with Negley Associates, a leader in the behavioral healthcare insurance space. Ron leads Negley’s Individualized Risk Management Program (IRMP), using a variety of risk management and loss spectrum tools to help organizations reduce the risk to employees, clients, and the organization. An expert in the areas of personal injury, nursing malpractice, and medical malpractice, Ron has been recognized nationwide for his guidance enabling healthcare providers to provide safe, high-quality care. He is published in the Florida Bar Journal and has been a featured speaker in many risk management video and audio presentations.
Fifteen years into the soft market cycle, it shouldn’t come as a surprise that the Medical Professional Liability (MPL) market is turning around. Many will remember that the Long-Term Care (LTC) market began to show signs of hardening in 2017, and the Hospital segment began to follow suit in the second quarter of 2019. While the Facilities and Physician segments have lagged behind, they’re also turning the corner toward a firmer market. While the COVID-19 pandemic is to blame for many current challenges, this hard market was well on its way prior to the pandemic. In actuality, the battle against COVID-19 has functioned in many ways as a temporary pause button for the MPL marketplace, giving insureds a short period of respite due to moratoriums on litigation. However, significant market changes are anticipated for the remainder of the year and beyond. Understanding the 5 primary drivers of the tightening market can be important to helping clients comprehend the changes that are coming.Subscribe to CRC Group on YoutubeSubscribe to Tools & Intel (email newsletter)Read Past Tools & Intel ArticlesFollow CRC Group on LinkedIn Featuring:Tom Levin is a CRC Vice President and Healthcare Broker and a member of the ExecPro Practice Advisory Committee. He also leads the Chicago Healthcare Practice.Tyler O’Connor is a broker in CRC’s Birmingham, AL office, and a member of the ExecPro Practice.Rusty Hughes is a Senior Broker in the CRC Birmingham, AL office specializing in the healthcare and assisted/senior living industries.
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