We explore the intricate dynamics of risks, policies, and politics. We kick off with a candid conversation about the burdens of managing billing and payments in the brokerage industry, and the innovative solutions that are streamlining these processes. Our discussion then takes a lively turn as we unpack recent political events, including observations from a high-profile inauguration and the behavior of prominent figures such as Mark Zuckerberg. We explore broader political themes, touching on the energy crisis and its impact on prices, and the pressing need for political leaders to transition from perpetual campaigning to effective governance. Additionally, we examine the implications of recent presidential pardons, contemplating their motivations and potential effects on national unity.

Shifting our focus to industry trends and global expansion, we analyze the dynamic landscape of the insurance and brokerage sectors. Discover how private equity-backed brokers are dominating acquisition deals, especially in acquiring smaller, regional agencies, despite a decline in large-scale acquisition activity. We explore the latest trends in reinsurance, with a noted decrease in property catastrophe rates and the continued growth of insurance-linked securities. The conversation also covers the shift of business from admitted to non-admitted markets, particularly in California and Texas, and the plateau in rate growth despite high submissions. We touch on securities class actions and their potential impact on Directors and Officers (D&O) pricing, while also considering the potential for global brokers like Howden to expand into the US market.

In our final chapter, we tackle privacy concerns in consumer data and home safety. We highlight the unique quirks of flying Southwest Airlines and transition to the New York taxi insurance market, noting the recent bankruptcy of ATIC and Governor Kathy Hochul's legislative response. Our skepticism about the effectiveness of these efforts leads to a discussion on the potential for legal action by taxi drivers with unpaid claims. We also address a GM settlement over improper use of geolocation data, sharing personal experiences with Carfax and its impact on vehicle trade-in values. To wrap things up on a lighter note, we share our change of heart about Dry January and indulge in our choice of wine for the evening, Mayoma, before concluding with a humorous reflection on life expectancy and aging.

Time Stamps

00:00  Revolutionizing Insurance Payments with Ascend

01:36  Trump 45 vs. Trump 47: Inauguration Drama

02:52  Morbid Presidential Speech Analysis

03:58  Gas Prices and Inflation: Are Companies Profiteering?

06:01  Biden's 6,000 Pardons: Controversy or Compassion?

09:15  TikTok Shutdown Hysteria: Is It Justified?

10:10  Insurance M&A Activity Hits Lowest Since 2017

14:21  California and Texas: Surplus Lines Market Boom

16:00  Rise in Class Action Lawsuits: Impact on D&O Pricing

18:50  Global Brokers Eyeing the US Market: Threat or Opportunity?

23:12  New York Taxi Insurance Market in Chaos

27:10  Carfax Controversy: Who Owns Your Driving Data?

29:15  Smoke Detector Recall: 328,000 Units Fail to Alert

Connect with RiskCellar:

Website: https://www.riskcellar.com/

Brandon Schuh:

Facebook: https://www.facebook.com/profile.php?id=61552710523314

LinkedIn: https://www.linkedin.com/in/brandon-stephen-schuh/

Instagram: https://www.instagram.com/schuhpapa/

Nick Hartmann:

LinkedIn: https://www.linkedin.com/in/nickjhartmann/