Placing You First Insurance Podcast by CRC Group

CRC Group

The Placing You First Podcast spans a diverse spectrum of insurance industry issues to keep you and your clients informed.
Marketplace Tight for Healthcare Risks Despite New CapacityTough Call: How to Insure TCPA Liability RisksState of the E&S Market with CRC Group's CEO, Dave ObenauerAviation Market Hardens Amid Pandemic Turbulence
Featuring: Camille Knight is a Senior Broker with our CRC Indianapolis team, located in Kentucky. She has extensive experience and specializes in aviation relation risks.As the aviation industry rebounds from a massive pandemic-induced downturn, aviation insurance rates are rising as insurers seek to address prior-year losses and the industry’s evolving risks. Interest in private jet purchases and rentals have surged as more business fliers and individuals avoid public carriers for health reasons. The pandemic has also provided an extra boost to the rapidly growing unmanned aerial vehicle industry since camera-equipped drones can perform many tasks at lower risk and without personal contact.Rising insurance prices in the aviation industry come amid historic losses for commercial aviation. The COVID-19 pandemic made 2020 the worst year in history for air travel demand, according to the International Air Transport Association.1 The IATA expects net airline industry losses of $47.7 billion in 2021, which marks a massive improvement from estimated net losses of $126.4 billion in 2020.2As the aviation industry recovers, it faces an insurance market that has been hardening for several years. The rise in rates for aviation coverage has followed big losses such as the disappearance of Malaysia Airlines Flight 370 with 239 people aboard in March 2014. Five years later, two crashes of Boeing’s recently introduced 737 Max within five months added impetus to the insurance market hardening: An Indonesia Lion Air Boeing 737 Max crashed in October 2018, killing 189 people, and in March 2019 an Ethiopian Airlines Boeing 737 Max crashed shortly after takeoff with 157 people aboard. The losses extended beyond the crashes as hundreds of Boeing 737 Max airliners were grounded around the world, resulting in significant grounding liability claims in addition to liability and hull loss claims.
Sep 3 2021
17 mins
How CRC Group's REDY Index Helps Retail Agents WinInsurance Marketplace Adds to Uncertainty for ContractorsThe Benefits of Occupational Accident Coverage
Americans learned just how vital the trucking industry is to daily life during the early days of the COVID-19 pandemic. Truck drivers all across the country witnessed an outpouring of public recognition and gratitude as the nation coped with shipping delays and supply shortages\. As the economy works to recover, trucking will continue to play an essential role, making it more important than ever that trucking companies protect business operations. Often overlooked, occupational accident insurance should be a key component of any trucking company’s risk management program.ContributorAlek Turko is a Managing Underwriter and Office President with 5Star Specialty Programs, a division of CRC Group. Alek and his team specialize in providing trucking insurance solutions in the for-hire trucking, leased owner-operator, and public auto spaces.5Star is a full-service MGA, and subsidiary of CRC Group, offering unmatched expertise in the trucking, public auto, and Worker’s Compensation sectors. With more than 30 years in the industry and strong partnerships with multiple highly rated carriers, 5Star writes both fleet and individual policies, making it easier for trucking companies to sponsor a program and ensure that every leased driver has adequate coverage with known limits. Along with occupational accident insurance, 5Star also offers Worker’s Compensation to cover non-leased drivers such as company drivers, clerical staff, mechanics, and company owners. Non-Trucking Liability (NTL) and Physical Damage policies, as well as Contingent Liability is also available.Subscribe to Tools & Intel (email newsletter)Read Past Tools & Intel ArticlesFollow CRC Group on LinkedIn
Jul 14 2021
15 mins
Smoother Ride Ahead for Primary AutoUnderstanding Wage and Hour ExposuresThe State of the Insurance Market for West Coast PropertyPreparing Clients Against the Impact of CyberattacksHospitality Industry Struggles to Find Mold CoverageReturning to Work in 2021: COVID & Vaccinations Raise EPLI Liability QuestionsDealing with a Hard Property MarketNortheast Property State of the MarketProperty State of the Market | Central and SoutheastDealing with a Hard Casualty MarketBiometric Data Risks: Keep Eyes on Coverage GapsUnderstanding the True Cost & Pitfalls of Additional Insured Endorsements
Everyone knows the fine print matters, but it is especially important when it comes to the additional insured endorsements sometimes requested by partners. Clauses requiring such endorsements can be expensive in ways insureds may not realize. Understanding the hidden costs of an additional insured endorsement can keep an insured from unfairly paying for another’s mistakes or unintentionally elevating insurance costs. Contractual provisions requiring additional insured endorsements can vary, and the differences can make a world of difference.Episode Links:Negley AssociatesMental Health Risk Retention GroupSubscribe to Tools & Intel (email newsletter)Read Past Tools & Intel ArticlesFollow CRC Group on LinkedInFeaturing:Susan Cohen - MSW is the Executive Vice President and leader of Negley Associates, a CRC Group Program. Sue and her team are located in Parsippany, NJ where they specialize exclusively in the behavioral healthcare, addiction, andsocial services space.Ron Zimmet - Mr. Ron Zimmet has practiced trial law in central Florida since 1975 and has served as General Counsel for the Mental Health Risk Retention Group (MHRRG), an insurance company owned exclusively by behavioral healthcare providers, for more than 33 years. While he is responsible for providing risk management services to those insured by MHRRG, he also serves as a consultant with Negley Associates, a leader in the behavioral healthcare insurance space. Ron leads Negley’s Individualized Risk Management Program (IRMP), using a variety of risk management and loss spectrum tools to help organizations reduce the risk to employees, clients, and the organization. An expert in the areas of personal injury, nursing malpractice, and medical malpractice, Ron has been recognized nationwide for his guidance enabling healthcare providers to provide safe, high-quality care. He is published in the Florida Bar Journal and has been a featured speaker in many risk management video and audio presentations.
Nov 12 2020
15 mins
Understanding & Preparing for a Hardening Medical Professional Liability Market
Fifteen years into the soft market cycle, it shouldn’t come as a surprise that the Medical Professional Liability (MPL) market is turning around. Many will remember that the Long-Term Care (LTC) market began to show signs of hardening in 2017, and the Hospital segment began to follow suit in the second quarter of 2019. While the Facilities and Physician segments have lagged behind, they’re also turning the corner toward a firmer market. While the COVID-19 pandemic is to blame for many current challenges, this hard market was well on its way prior to the pandemic. In actuality, the battle against COVID-19 has functioned in many ways as a temporary pause button for the MPL marketplace, giving insureds a short period of respite due to moratoriums on litigation. However, significant market changes are anticipated for the remainder of the year and beyond. Understanding the 5 primary drivers of the tightening market can be important to helping clients comprehend the changes that are coming.Subscribe to CRC Group on YoutubeSubscribe to Tools & Intel (email newsletter)Read Past Tools & Intel ArticlesFollow CRC Group on LinkedIn Featuring:Tom Levin is a CRC Vice President and Healthcare Broker and a member of the ExecPro Practice Advisory Committee. He also leads the Chicago Healthcare Practice.Tyler O’Connor is a broker in CRC’s Birmingham, AL office, and a member of the ExecPro Practice.Rusty Hughes is a Senior Broker in the CRC Birmingham, AL office specializing in the healthcare and assisted/senior living industries.
Nov 3 2020
27 mins