AM BestTV at RIMS: ‘You Cannot Underwrite Behind a Desk’, Says Risk Manager Panel

Business Wire

OLDWICK, N.J.--(BUSINESS WIRE)-- In this ^A.M.BestTV episode at the Risk and Insurance Management Society, Inc.’s (RIMS) conference in Boston, MA, a panel of risk managers discuss how insurers must listen to their clients. Click on http://www.ambest.com/v.asp?v=riskmanagerspanel419 to view the entire program.

Lance Ewing, executive vice president, global risk management & client services, Cotton Holdings, addressed the biggest challenges his company faces when dealing with brokers or insurers.

“Understanding your business is probably one of the key critical things,” said Ewing. “I think both the carrier and the broker have to have that understanding. Having a longstanding relationship with your carrier and brokers allows for that understanding, as well as to grow along with you. There is a lot of credence in keeping that consistency.”

Another issue the panel highlighted was how the increase in consolidations among brokers and underwriters is impacting the way they do business.

“We have definitely seen an impact on the property side, which has made doing business a lot harder than it was,” said Shannon Gardner, executive director, enterprise risk management, Chick-fil-A. “We just lost two carriers on our program this year that we have had on the program for several years, and we are a pretty good risk. Even though we are a quick-service restaurant, our loss history is stellar. I think part of that is due to consolidation. It is just a different appetite, with this hunger for premium.”

Other people that appeared in this episode:

Simon Keshishian, senior director of risk management, Red Bull; and
Kristen Peed, director, corporate risk management, CBIZ Inc.

For full video coverage of RIMS, including exclusive executive interviews, visit http://www.ambest.tv/rims19.

Recent RIMS episodes include:

Quickly Evolving Cannabis Business Provides Moving Target, Says Panel: At RIMS, a panel of industry experts said insurers face many challenges in underwriting the changing cannabis industry: http://www.ambest.com/v.asp?v=rims3419.

^AMBestTV covers exclusive AM Best and insurance industry information and reports, targeted topics and key developments in the insurance, reinsurance and related sectors daily. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View ^AMBestTV episodes at http://www.ambest.tv.

AM Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.