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Insights on emerging trends, current events, career development, and more

Risk & Insurance

Risk & Insurance® covers the people, stories and risks that embody the essential functions of risk management and commercial insurance. We strive to identify emerging risks and mitigation strategies, while covering the fascinating people who drive the industry forward.

There’s a disconnect between how prepared organizations say they are to handle a variety of risks and the concrete actions they are taking to prioritize and advance risk management, according to a new survey from Origami Risk.

3 hours ago

U.S. product recalls reached a five-year high in the first quarter of 2024, according to the first-quarter U.S. Recall Index report from Sedgwick.

4 hours ago

Beazley PLC named Melissa Carmichael as head of U.S cyber. She will be based in New York, reporting to Paul Bantick, global head of cyber risks. “In an era of accelerating cyber threats it’s crucial that we have in place leaders of Melissa’s caliber and expertise,” Bantick said.

7 hours ago

Aon promoted Vincent Flood to commercial risk property leader for North America, effective immediately.

7 hours ago

Jennifer Bell, after deciding to retire as CEO of North America at the end of 2024, has been appointed as the executive chair of North America at Aon. Lori Goltermann, CEO of Regions for Aon, has assumed direct leadership of the firm’s North America region, effective immediately.

7 hours ago

Alliant Insurance Services named Lori Crandall as senior vice president within its employee benefits group. She will be instrumental in supporting clients in the Southwest and Western regions.

7 hours ago

New models and new processes for underwriting and quoting private flood insurance are helping insurers and brokers address the emerging risk of un- and underinsured properties, particularly businesses and high-value homes.

7 hours ago

Workers’ comp has long been an industry that heralded hands-on management and stand-alone education as key to improving workplace safety. People, it was thought, can best connect with one another and promote good working conditions.

12 hours ago

For almost five years now, I’ve written about the workers’ compensation industry, and many, many of those articles have focused on how an injured employee’s mental health can suffer after an injury.  

12 hours ago

Insurance Thought Leadership

Insurance Thought Leadership is a global network of thought leaders and decision makers transforming the insurance and risk management marketplace through knowledge sharing, big ideas, innovative technology, and real-life applications.

Agent and Brokers Commentary: May 2024 

7 hours ago

As crazy as most agents' lives are these days, take a look at Gabriela Dominguez and her experience in South Florida.

1 day ago

Four simple questions will help agents communicate better with clients, helping the agents lean into a role as advisers on risk. 

1 day ago

Here are 10 insurance-flavored podcasts that you don't want to miss. 

1 day ago

Integrating AI into insurance technology would allow for continuous risk assessment and, thus, adjustment of premiums. 

2 days ago

With more cannabis providers seeking coverage, insurers must turn to risk assessment and expanded policies.

2 days ago

Carriers are under pressure from consumers to speed up the P&C claims process. An omnichannel customer engagement strategy should be part of the solution.

3 days ago

Apple's recent ad for a new iPad shows what happens when executives fall in love with technology and forget about people. 

3 days ago

The growth of the embedded insurance landscape will create a swell of new partnerships and VC investment.

4 days ago

Many core insurance functions are well on their way to keeping pace with the modern consumer. Payment must be next in line. 

4 days ago

CLM

The CLM is dedicated to meeting the professional development needs of the claims and litigation management profession. CLM Magazine delivers news and thought-leadership content.

California court finds insurer has duty to defend HOA

2 days ago

Aon report cites lower U.S. SCS activity

2 days ago

Labor Law 241(6) broadened in recent New York court decision

2 days ago

Join CLM’s webinar on May 17 and continue the DEI conversation

3 days ago

Ban set to be first rule finalized under 2016 amendments to Toxic Substances Control Act

3 days ago

Pennsylvania Ruling appears to double statute of limitations for legal malpractice claims

3 days ago

Updates intended to meet evolving needs of construction industry

3 days ago

EPA moves forward with CERCLA designations of PFOA and PFOS

1 week ago

CLM member cites two key reasons for increasing trends

1 week ago

Kentucky Court of Appeals decides Lyft driver could not collect UIM benefits

1 week ago

Triple-I

The Insurance Information Institute is the trusted source of unique, data-driven insights on insurance to inform and empower consumers. Triple-I serves consumers, media, and professionals seeking insurance information.

2024
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The Target Markets Program Administrators Association (TMPAA) and The Institutes Knowledge Group Unveil Innovative Program Business Professional (PBP) designation

The Target Markets Program Administrators Association (TMPAA), and The Institutes Knowledge Group, the not-for-profit leader in risk management and insurance education, are pleased to announce the launch of the Program Business Professional™ (PBP™) designation. 

Griffith Foundation

The Institutes Griffith Foundation Welcomes New Advisory Council Members, Beth Murphy and Ken Cooley

The Institutes Griffith Foundation is pleased to announce the two newest members of the Advisory Council, Beth W. Murphy and Ken Cooley. Both Murphy and Cooley will help to advance Griffith’s mission to provide non-partisan, non-advocative education to public policy members.   

2023
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HOW AI IS REMAKING INSURANCE ORGANIZATIONS

In this video with AM Best TV, The Institutes President and CEO Pete Miller discusses the sectors of insurance currently impacted most by AI, and how technology is advancing the predict and prevent model to reduce risk. Watch the full video

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HOW AI IS REMAKING THE INSURANCE WORKFORCE

The Institutes President and CEO Pete Miller, along with Executive Vice President and Head of Business Units Kate Horowitz, share insights on AI as a tool that can transform roles in insurance and be leveraged to accelerate the shift from detect and repair to predict and prevent. Watch the full video.

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WHOLESALE TRANSFORMATION

The Institutes President and CEO Pete Miller explains how the insurance sector is changing rapidly. From technology to policies, learn how traditional risk transfer tools are no longer sufficient to cover losses. Read the full article.

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THE INSTITUTES' MILLER: TOMORROWS INSURANCE LEADERS SHOULD EMBRACE FOUR SKILL SETS

In this interview, The Institutes President and CEO Pete Miller shares research done by the International Insurance Society (IIS), an affiliate of The Institutes, giving insights on the future of the insurance talent landscape. Watch the full video

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BESTS REVIEW: NOVEMBER 2023 EDITION

The Institutes President and CEO Pete Miller and Executive Vice President and Head of Business Units Kate Horowitz share thoughts on the potential impact of AI within the insurance landscape, and the need to develop new skills to leverage technology. Access the full issue. 

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The Institutes CPCU Society Expands with Global Virtual Community and Equitable Membership Rates in Developing Nations

Advancing its commitment to global inclusivity and accessibility for risk and insurance professionals, The Institutes CPCU Society has unveiled new tiered membership rates. This innovative approach, which is based on the World Bank’s classification of national economies, promises to offer a more equitable membership rate system tailored to each country's economic standing.

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The Institutes Now Affiliated With the Insurance Accounting and Systems Association (IASA)

IASA will expand The Institutes’ ability to educate, elevate and connect those interested in risk management and insurance, with a specific focus on insurance accounting and finance.

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CEO Viewpoint: Its No Longer Enough to Just Insure

Pete Miller explores the importance of predicting and preventing losses for organizations and consumers. Find out why traditional models are not sufficient to cover many risks. Read the full article. 

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The Institutes' Miller: The Best Risks Are the Ones Insurers Help Customers Avoid

This recent discussion between Pete Miller and John Weber covers the reason behind a shift to more pre-loss strategies, specifically those involving risk mitigation and risk control. Watch the interview with A.M. Best TV's John Weber. 

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"Risk management is shifting" The Institutes CEO

Pete Miller spoke with Insurance Business about how insurance companies can pinpoint avoidable losses and minimize claims by embracing innovative tools, including AI. Read the full article on Insurance Business.

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Top Insurance Brokerages in the USA | Fast Brokerages Report

In this breakdown of brokerages, Pete Miller outlines some key characteristics that set the top-performers apart. Read the full report. 

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For Carriers, Trust in the Balance as Return-to-Office Heats Up

The insurance industry is changing. In this article, Eva Thomas identifies some aspects that are contributing to this evolution of business. Pete Miller shares his thoughts.  Read the entire article on P&C Specialist. 

IIS logo

In History-Making Moment, Dr. Chang-Jae Shin Of Kyobo Life Joins Father In Insurance Hall Of Fame

New York, New York – March 21, 2023: The International Insurance Society (IIS) has named Chang-Jae Shin, MD, the trailblazing chairman and CEO of the Korea-based Kyobo Life Insurance Company, the 2023 Insurance Hall of Fame Laureate. Dr. Shin is the first legacy inductee in the 66-year history of the award. His father Yong Ho Shin, the founder of Kyobo Life, is the 1996 Laureate. Dr. Shin will be formally honored at the Global Insurance Forum gala on Nov. 6, 2023. The gala, along with the Global Insurance Forum, will be held at the Hilton Singapore Orchard. The Forum runs from Nov. 5-7. 

IIS logo

With Pandemic Concerns Fading, Insurance Executives Cite Geopolitical And Economic Issues In Annual IIS Survey

The 2023 Global Priorities Survey conducted by the International Insurance Society (IIS) indicates executives are moving on from pandemic recovery and directing focus to geopolitical and economic issues.

Griffith Foundation

The Institutes Griffith Foundation Welcomes New Advisory Council Members, Charles Chamness and Jillian Froment

The Institutes Griffith Foundation is pleased to announce the two newest members of the Advisory Council, Charles M. Chamness and Jillian Froment, J.D. Both Chamness and Froment will help to advance Griffith’s mission to provide non-advocative, non-partisan education to public policy members.   

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Cincinnati Insurance, Nationwide and Securian Financial Receive The Institutes RiskStream Collaborative 2022 Collaborator Award

The Cincinnati Insurance Companies, Nationwide, and Securian Financial are the recipients of The Institutes RiskStream Collaborative™ 2022 Collaborator award. The three recipients supported RiskStream’s Life & Annuities sector’s project on educational verification for product sales.

The Institutes Agent & Broker Group

Beyond Insurance Partners with The Institutes Agent & Broker Group on a Customized Learning Path Tool

Beyond Insurance collaborates with The Institutes Agent & Broker Group to create a unique, guided learning path tool for Beyond Insurance Global Network (BIGN) members that facilitates continued education, training, and development. The partnership provides the BIGN leaders and all levels of agency staff members with an effective, customized learning survey designed to improve recruitment, enhance the professional development experience, and improve talent retention.

CPCU Society logo

CPCU Society Leadership Council Announces 2023 Officers and Members

The Institutes CPCU Society has announced its new Leadership Council officers and members for 2023. Among them are the 2023 President and Chair, Brett Clausen, CPCU, CIC, FMLI, LSSMBB, MSIM, succeeding Christopher J. Hampshire, CPCU, CIC, ARM, on Jan. 1, 2023. 

2022
CPCU Society logo

CPCU Society Offers Free Membership to College Students and Awards $125,000 in Scholarships

The Institutes CPCU® Society expands support for students by offering complimentary membership to all full-time undergraduates regardless of major or risk management affiliation and is pleased to announce the fall 2022 NextGen Scholarship recipients.

The Institutes Agent & Broker Group

HUB International Limited Selects The Institutes Agent & Broker Group As Education Partner

HUB International Limited has selected The Institutes Agent & Broker Group as its primary partner for continuing education, development, and learning resources. This strategic partnership provides HUB International employees with full access to unsurpassed knowledge and continuing education opportunities available from The Institutes and their affiliate CEU to advance employees’ skillsets and stay ahead of the evolving risk landscape.

The Institutes Agent & Broker Group

Hunter Fausnacht Promoted to President of the The Institutes Agent & Broker Group

Hunter Fausnacht has been promoted to President of The Institutes Agent & Broker Group. Fauschnact, formerly Vice President of the Agent & Broker Group, has been integral in the formation and success of this business unit designed to support the educational needs of the agent and broker market.

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The Institutes Board of Trustees Appoints
New Members

The Institutes have appointed five new members to its Board of Trustees, including J. Powell Brown, MBA, CPCU, Carl Hess, FSA, CERA; John J. Marchioni,  CPCU; and Leonid Rasin, MA, FCAS and Thomas M. Troy, CPCU, The new members terms were effective as of June 15.

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Majority of U.S. Agrees Attorney Ads Increase Number of Lawsuits, IRC Survey Finds

Most Americans believe attorney advertising increases the number of liability claims and lawsuits and more than half link these ads to higher insurance costs. Awareness of litigation financing has also increased, but many Americans remain unsure what to think of the practice, according to a new survey by the Insurance Research Council (IRC), a division of The Institutes. 

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The Institutes Board of Trustees Appoints Risk Management and Insurance Leaders as New Chair and Vice Chair

The Institutes have appointed John Howard, chairman and chief executive officer (CEO) of Truist Insurance Holdings, Inc., and W. Robert Berkley Jr., president and CEO of W. R. Berkley Corporation, as chair and vice chair, respectively, of the organization’s Board of Trustees.

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New Industry Initiative Launches to Advance Racial Diversity and Equity Black Insurance Industry Collective to expand leadership development for Black professionals

The Black Insurance Industry Collective (BIIC), a newly-formed non-profit organization affiliated with The Institutes, today announced its launch. The BIIC is focused on accelerating the advancement of Black insurance professionals.

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RiskStream Collaborative First Notice of Loss Product, Rapid X, Now Available

Guidewire (NYSE: GWRE) and The Institutes RiskStream Collaborative® announced that RiskStream’s new Ready for Guidewire validated accelerator for ClaimCenter is now available in the Guidewire Marketplace. Guidewire users can use RiskStream’s Rapid X blockchain application to exchange loss information with other insurers more quickly and accurately.

Insurance Information Institute logo

Triple-I and HBCU Impact Partner to Recruit Black Talent Nationwide

The Insurance Information Institute (Triple-I) and the HBCU I.M.P.A.C.T. Initiative, Inc.® (IMPACT) announced a partnership and a career-building campaign aimed at recruiting students at historically Black colleges and universities (HBCUs) to the insurance industry.
 

CPCU Society logo

Society Launches Facilitated Study Groups for CPCU Students

Professionals working towards earning their CPCU designation can now have the added support of Facilitated Study Groups offered by the CPCU Society.

CLM logo

Vic Marmo Named 2022 CLM Lifetime Achievement Award Winner

Vic Marmo, ARM, CLMP, Assistant Vice President, Risk Management-Claims, Marriott Vacations Worldwide Corporation, announced as recipient of the 2022 CLM Lifetime Achievement Award.

2021
Insurance Information Institute logo

Triple-I Report Finds Insurers Are Managing Economic Volatility

U.S. insurers are seeing premium and investment income growth in 2021, favorable trends offset by increases in inflation and the combined ratio, according to a new report from the Insurance Information Institute (Triple-I).

Griffith Foundation

Griffith Foundation Presents Charles Chamness With 2021 Lifetime Achievement Award

Charles Chamness, retired president and chief executive officer of the National Association of Mutual Insurance Companies, was presented with The Institutes Griffith Insurance Education Foundation’s 2021 Lifetime Achievement Award during a ceremony at the NAMIC Annual Convention.

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Catastrophe Resiliency Council (CRC) Announces New President

Christopher G. McDaniel, president of The Institutes RiskStream Collaborative, has been tapped to lead The Institutes' newest consortium, the Catastrophe Resiliency Council (CRC).

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The Institutes RiskStream Collaborative Announces 2021 Award Winners

The Institutes RiskStream Collaborative™ announced its 2021 Leadership, Collaborator, and Innovator awards, which were were presented to Auto Club Enterprises, CSAA Insurance Group, Nationwide, Securian Financial, and Liberty Mutual.

CLM logo

CLM Appoints Ronna Ruppelt as New Chief Executive Officer

The Claims and Litigation Management Alliance (CLM), which is affiliated with The Institutes Risk & Insurance Knowledge Group, is pleased to announce the appointment of Ronna Ruppelt as the new Chief Executive Officer.

2020
Insurance Information Institute logo

Insurance Information Institute and The Institutes Risk & Insurance Knowledge Group Finalize Affiliation

The Institutes Risk & Insurance Knowledge Group announced plans to finalize its affiliation with the Insurance Information Institute (Triple-I) on November 16, 2020. Triple-I is a long-standing, trusted source of unique, data-driven research and insights on insurance.

 

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Marita Zuraitis and John Howard Appointed Chair and Vice Chair of The Institutes Risk & Insurance Knowledge Group

The Institutes Risk & Insurance Knowledge Group has appointed Marita Zuraitis, chief executive officer of The Horace Mann Companies, and John Howard, chairman and CEO of Truist Insurance Holdings, Inc., as chair and vice chair, respectively, of the organization’s Board of Trustees.