Jake Acosta of EY presented insights on the future of claims. Acosta explained that, in early 2016, EY conducted research to understand where claims operations are headed. EY’s research included interviews with executives at commercial insurers, industry analysts, and FinTech leaders. EY’s research revealed six key drivers of change in the industry. Decreasing Claims … [Read more...] about The Future of Claims
Summary of Events
Insurance Business Transfer Statutes
A panel comprised of Eleni Iacovides of DARAG, Vincent Laurenzano and Bernhardt Nadell of Stroock & Stroock & Lavan, Jim Wrynn of FTI Consulting, and Frank Schmid of AIG discussed the various statutory and regulatory provisions governing insurance business transfers. The panel addressed traditional statutory and regulatory procedures for handling impaired and insolvent … [Read more...] about Insurance Business Transfer Statutes
Florida Bad Faith Claims: Best Practices In Claims Handling
Joanne McGovern (Claims Regional Vice-President for ProSight Specialty Insurance), joined Laura Besvinick and Julie Nevins (both of Stroock & Stroock & Lavan) to discuss the dynamics of claims handling in Florida, the hallmarks of good faith claims-handling, and avoiding bad faith claims. Bad faith claims have become something of a “cottage industry” in Florida. Certain … [Read more...] about Florida Bad Faith Claims: Best Practices In Claims Handling
AIRROC Springs Ahead: Spring Membership Meeting
Though it wasn’t feeling like Spring, and a Nor’Easter hit New England so hard it left many unable to travel, AIRROC’s Spring Membership meeting drew more than 100 attendees over two days. The familiar format of a day for business and education meetings made it a productive combination for our members and supporters. The Education Day featured timely and interesting topics: PwC … [Read more...] about AIRROC Springs Ahead: Spring Membership Meeting
A New Allocation Landscape Under In re Viking Pump, Inc.
The panel consisted of Bruce Engel, Partner at Freeborn & Peters LLP, moderated the panel consisting of Amy Kallal, Partner at Mound Cotton Wollan & Greengrass LLP, and Robin Dusek, Partner at Freeborn & Peters. Amy Kallal addressed the Viking Pump decision, stating that “it turns out” that New York is not really a pro rata state, but that “sometimes” it is. In … [Read more...] about A New Allocation Landscape Under In re Viking Pump, Inc.
Legacy U.K. Employers Liability
The panel consisted of: Richard Lawson, Global Head of Client Engagement at Pro Insurance Solutions Ltd; Ian Harvey, Head of Claims Strategy at Pro Insurance; and Joe Froehlich, Partner at Locke Lord, LLP. Richard Lawson provided an overview of the U.K. Employers Liability market, which he noted was similar to but not the same as workers' compensation in the U.S. This coverage … [Read more...] about Legacy U.K. Employers Liability
Emerging Cyber Risk Roundtable Explores Cyber Insurance Issues
Cyber risks are among the most pervasive risks of our time. They impact all industries that purchase insurance, and all lines of insurance. A panel from the insurance community whose roles in their companies focus on cyber risks (some from the underwriting and product development perspective, and others from the claims handling perspective) discuss key issues and challenges … [Read more...] about Emerging Cyber Risk Roundtable Explores Cyber Insurance Issues
Let’s Make a Deal: Current Trends in Buying and Selling Runoff Business and Blocks
David Schieldrop, Managing Director and Global Co-Head of the Insurance Investment Banking Division of Barclays, Sylvain Villeroy de Galhau, EVP of AXA Liabilities Managers, and David Alberts, Partner at Mayer Brown, shared their insights on the current marketplace for buying and selling runoff business. The consensus of the panel was that market conditions – including downward … [Read more...] about Let’s Make a Deal: Current Trends in Buying and Selling Runoff Business and Blocks
