Category Archives: Industry Awards & Events

JIF 2021: Risk & the “New Normal”

Insurance industry decision makers and thought leaders gathered yesterday for the Triple-I Joint Industry Forum (JIF) in New York City to share insights on managing risk in the post-pandemic world.

The in-person, daylong program was conducted in accordance with New York City’s COVID-19 protocols. Topics ranged from climate and cyber risk and the impact of “runaway litigation” on insurer losses and policyholder premiums to the challenges and opportunities presented by “the Great Resignation” for acquiring and nurturing talent in the industry.

The panels featured speakers from across the insurance world, academia, and media. Watch this space next week for panel wrap-ups.

CNBC’s Contessa Brewer to Interview Triple-I CEO at Joint Industry Forum

CNBC business journalist Contessa Brewer will interview Triple-I CEO Sean Kevelighan at Triple-I’s Joint Industry Forum (JIF) on December 2.

“Insurance is one of the industries I cover for CNBC, so I look forward to discussing the top issues of the day at one of its premier events,” Brewer said.  “Given 2021’s extreme weather, high-profile cyberattacks, and economic volatility, insurance has been in the news constantly, so there are plenty of things to talk about.”

The 2021 JIF is being held at the New York Hilton Midtown. The in-person, daylong program, bringing together the most accomplished thinkers and leaders in insurance, will be conducted in accordance with New York City’s Covid-19 protocols.

“CNBC is a recognized world leader in business news and reaches millions of Americans across all of its platforms,” Kevelighan said, adding that he looks forward to “a robust discussion” with Brewer. The agenda also includes panels on insurance economics, insurer talent and recruitment initiatives, and the societal costs of runaway litigation. 

Click here to register.

Top 50 Blogs Nomination

Blogging about insurance, or on any subject come to that, takes time and commitment from both the writer and the reader.

So we’re honored to announce that Terms + Conditions has received a nomination to be considered one of the LexisNexis Insurance Law Community’s Top 50 Insurance Blogs for 2011.

Each year, LexisNexis honors a select group of blogs that set the online standard for a given industry. The Top Blogs campaign on the LexisNexis Insurance Law Community starts with a comment period that runs through September 30.

An initial list of nominees for this year’s Top 50 includes some of our favorites such as the excellent Tim Dodge’s Ask Tim, Guy Carpenter’s GCCapitalIdeas.com, InsureReinsure published by Edwards, Angell, Palmer & Dodge, the Lloyd’s blog, Risk Management Monitor published by RIMS, and The D&O Diary published by Kevin LaCroix.

To talk up or nominate your favorite insurance blog, just register and log in as a community member at this link.

Lights! Camera! Risk control!

Oscar night creeps ever closer – it’s Sunday – so the drama builds for the magic moment when the envelope opens and we find out which movie is Best Picture.

In the insurance version, though, the drama is over – Fireman’s Fund earlier this month named Salt the riskiest movie of 2010. The Fund insures 80 percent of Hollywood productions, notes the Wall Street Journal, so can be considered an authority on the topic.

Salt tells the story of a CIA agent -Angelina Jolie – who goes on the run after being accused of being a Russian spy. But this is Hollywood, so when she goes on the run, she does a lot more than run – lots of chases, crashes, fights and general femme fatale-ing.

And here’s why it was so risky: Ms. Jolie, reportedly paid more than $20 million for the role, did her own stunts. To get an idea, here’s the action-packed trailer:

So what you see the character Salt do, Ms. Jolie, a daredevil mother of six, actually did:

  • She jumps off a highway overpass! (at 1:19 of the trailer)
  • She leaps from a moving subway! (1:28)
  • She dyes her own hair! (1:25)

And had she, say, broken a leg, it would have been a bigger deal than your typical workers comp claim. Production itself could slow down or stop, but production costs would roll on.

Companies insure against actors’ injuries by purchasing cast coverage, which basically pays for production costs if an important artist is hurt or killed. Other typical coverages protect against loss of props, damage to property while on location, and – my favorite – negative coverage, which involves faulty filming materials, not tabloid stories.

The riskiest scene – not in the trailer – involved filming the actress on a building ledge on a gloomy, windy day. The Fund’s Paul Holehouse (a senior risk specialist) told us: The wire work and climbing outside of the New York building required a massive rigging effort to protect the historical buildings and create a safe catch area with proper flying harnesses.

For fights and scenes with weapons, extra care has to be taken to protect the actor’s face. One unducked punch could close up shop.

On tricky shoots, underwriters work with the creative types to minimize risk while achieving the director’s artistic vision.

A View To Building Better

The grand opening of the Institute for Business & Home Safety (IBHS) Research Center yesterday demonstrates insurers’ ongoing commitment to reduce and prevent damages and losses caused by natural disasters.

This unique, state-of-the-art, multi-risk applied research and training facility on a 90-acre parcel of land in Chester County, South Carolina, will significantly advance building science by enabling researchers to more fully and accurately evaluate various residential and commercial construction materials and systems.

At yesterday’s opening USA Today reports  that researchers used more than 100 giant fans to create hurricane-force winds in an experiment that  destroyed a home built with conventional construction materials and standards within minutes, but left a home  built with fortified materials standing at its side.

Check out this IBHS video on YouTube to see the results for yourself: