The pandemic exacerbated healthcare staffing shortages, pushing many organizations to rely on staffing agencies for help. However, this can increase the risk of claims. Because claim severity continues to be an issue, many markets have narrowed their appetite or chosen to exit the sector entirely, creating a harder insurance landscape for healthcare staffing. We're going to talk about all this and more with our guests Jason Lewis, President of CRC Denver and National Healthcare Practice...

From electronic logging devices (ELDs) to logistics and maintenance software, trucking companies are utilizing innovative technologies to improve efficiency and connectivity. Unfortunately, this often leads to increased cyber risk. In this episode we talk with two of CRC Group’s brokers - Chris Hunter, a Broker specializing in Transportation with CRC Group’s Houston, Texas office, and McCulle Wright, an ExecPro Broker with CRC Group’s Dallas, TX office - to explore this emerging issue in...

Behavioral healthcare providers can help mitigate growing violence rates by adequately assessing the risk of violence a patient presents toward others. The right behavioral healthcare assessments can help protect people from harm and prevent professional liability claims.  In this episode, we’re joined by Sue Cohen, the Executive Vice President of Negley Associates, a CRC Group company focusing on behavioral healthcare, addiction, and social services as well as Ron Zimmet, a Florida trial...

In 2021, 19-year-old Orlando student Miya Marcano was tragically killed in her apartment by a 27-year-old maintenance employee with access to her apartment complex’s master key fob. In response to this tragedy and a growing trend of violence, Florida Governor Ron DeSantis signed Senate Bill 898, known as “Miya’s Law,” at the end of June 2022.   The new law took effect July 1, 2022, and seeks to strengthen renter safety measures. In this podcast episode, we discuss potential issues to watch...

Hurricane Ian has proved to be a significant event for the insurance industry. In this episode, we talk with Nationally Renowned TV Meteorologist James Spann from ABC 33/40 in Birmingham, AL.  Also, Chris Carlson, the property practice leader for CRC Group, joins us to talk about the damage estimates and what this means for the insurance industry. About James Spann: James has served as the Chief Meteorologist for ABC 33/40 for 25 years and can be seen on weeknights at 4, 5, 6, and 10...

Uncertainty can prove costly when it comes to purchasing property insurance. When pricing catastrophe risks, underwriters must be able to quantify them accurately. Where uncertainties arise, underwriters often adjust prices in an attempt to compensate for the unknown or decline the risk entirely. Uncertainty also tends to drive up the loss estimates produced by CAT modeling tools used to help underwrite property coverage today. To avoid paying unnecessarily high prices, insureds should...

After a year of slashed demand in 2020, global oil demand surged in 2021 as the world began to recover from the coronavirus pandemic. In 2022, energy demand and commodity prices are still up, indicating that the energy industry is strong (source 3). Refineries are operating at approximately 95% capacity, and many companies would like to expand operations conservatively. But, like other industries all across the country, energy companies are struggling to find and hire qualified employees to...

Senior Living Market Easing but Reprieve May be Brief After a year or two of hardening, the insurance market for senior living facilities took another hit in 2020 due to the COVID-19 pandemic’s new wave of compounding challenges. Brokers working with these healthcare organizations were warned to keep a wary eye on increased liability and tighter underwriting moving into 2021. Throughout the challenging market in 2020 and 2021, accounts of varying quality were often painted with the same brush...

Matthew Rosencrans from the NOAA Climate Prediction Center takes us through the future of property risk, including hurricanes, climate change, and more.   Is climate change causing sea levels to rise?  The answer may surprise you!How many named storms will we see in 2022?According to the best data, what can we expect in the next 5 to 10 years?After talking with Matthew, we check in with Chris Carlson, Property Leader for CRC Group, to understand the future of property...

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...

In today's economic environment, many companies have difficulty hiring and retaining sufficient staff to operate. More small and mid-sized companies without dedicated internal administrative or HR staff partner with Professional Employer Organizations (PEOs) to help offload administrative burdens. In addition to providing HR, benefits, and payroll administration, PEOs often offer Employment Practices Liability (EPL) coverage to protect client companies against employee claims of wrongful...

Over the last decade, third-party litigation funding (TPLF) has evolved into a $17 billion industry worldwide, and 52% of that money is being spent in the U.S., making TPLF a key contributor to social inflation, hiking up jury awards and claim settlements that may have a significant impact on insurance prices and coverage availability. What is it?  How does it work?  What effect is it having on pricing?   Where do we go from here? Featuring: Bob Greenebaum is an Executive Vice President,...

The deadly collapse of a 12-story beachfront condominium north of Miami Beach sent shockwaves through the Florida insurance market. One wing of the 40-year-old Champlain Towers in Surfside, Florida, crumpled to the ground suddenly on June 24, 2021, killing 98 people. Several carriers have exited the Florida property market as total settlements rise to more than $130 million, and others are pulling back on property and liability coverage. Faced with the potential for steep losses, insurers are...

Flooding continues to be the most expensive and the most common natural disaster in the United States, resulting in billions in economic losses every year. According to the National Flood Insurance Program (NFIP), 90% percent of all U.S. natural disasters involve flooding. In October 2021, the NFIP implemented its Risk Rating 2.0 program, one of the most significant changes from a rate modeling and underwriting standpoint in more than 50 years. In the past, FEMA flood zones and rates were...

Transitioning markets make for tougher renewals. Rising prices, carrier repositioning, and stricter underwriting are combining to make this year’s renewals more challenging. Seeking to tame natural catastrophe losses, carriers are changing appetites, scaling back capacity in some markets, and exiting others. Those changes have helped drive submission activity to levels not seen since 2005 and are further exacerbated by new market entrants that are causing a movement of underwriting talent not...