Most Voice of Insurance episodes tend to be with industry CEOs.
This way you can get to know the real people behind the public persona and learn about how the industry really works by finding out what makes its leaders tick.
But of course it doesn’t give you a huge amount of class-specific detail.
Industry titans at public companies know a ton of detail about high finance and deal economics, but if I went too deep into detail on any given class of insurance or reinsurance, they would rightly refer me to an inhouse expert for a full briefing.
And that’s why I recorded this episode.
In this hard and Covid-affected market, the hardest segment seems to be the International Directors’ and Officers’ liability market or (D&O) as we all know it.
I wanted to get into hard detail about what is going on in this market.
To do this I began to set up interviews with D&O practitioners. My aim was to put together the views of multiple experts into an in-depth report.
But the first of these meetings turned out to be so strong that I have decided to put it out as an episode in its own right.
David Ritchie is Managing Director of Management Liability at Gallagher UK and is a very senior broker with his finger directly on the pulse of the sector.
In great detail David describes a market in a state of crisis and dislocation where cover is severely rationed and definitely not guaranteed at any price.
This is a world where the prices and terms that are being dictated by the few markets that remain open are almost secondary in importance. Customers have to take it or leave it and may be forced to hit the nuclear button of invoking sunset clauses on expiring cover and renewing on extremely restrictive retroactive date inception terms just to get by.
In short this is the hardest market of all time by a very, very long margin.
With only trickles of new capacity on the way and more market withdrawals possible I don’t envy David’s day job one bit, but I do commend this episode to anyone who wants to know where and how many of the underwriting fortunes and reputations of 2021 and beyond are going to be forged.
LINKS
Once again we thank Claims Direct Access (CDA) for their support today.
www.claimsdirectaccess.com
PS. Don't forget to ask Mark about advertising opportunities on the podcast. mark@thevoiceofinsurance.com
Ep 111 Rinku Patel CEO Pine Walk Capital: helping underwriters be in their last job
Ep 110 Rick McCathron President, Hippo: A path to profit, but on our own timeline
Special Episode: Seeking quality premium in motion with Madhu Tadikonda, President, Corvus Insurance
Ep 109 Bronek Masojada: Just the same, but completely different
Ep 108 John Cavanagh Beat Capital Partners: Building a perpetual business
Ep 107 David Walsh and Graeme Newman of CFC Underwriting: Build your own
Ep 106 Lucy Clarke President Marsh Specialty and Global Placement, Marsh: Enough is enough
Ep 105 David Flandro: Secondary perils driving just about everything at 1.1
Ep 104 David Ibeson Apollo: Success brings the right to remain independent
Ep 103 Adrian Cox CEO Beazley: No natural endgame to where we can be
Ep 102 John Fowle CEO Chaucer: A great time to be someone‘s growth engine
Ep 101 Caroline Wagstaff CEO The LMG: Always a campaigning body
Ep 100 Sian Fisher CEO The CII: The strategy is already on the wall
Ep 99 Mark Wheeler Mosaic Insurance: No Exit Plan
Ep 98 Richard Watson CEO Inigo Insurance: Low ego and high collaboration
Ep 97 Stefan Golling: If we don’t achieve our margins now why should we stay?
Ep 96 Patrick Tiernan Chief of Markets Lloyd‘s of London: A vision bound by logic
Special Episode: New Trillion dollar markets wherever you look. How insurtech can improve climate resilience with Robert Lumley and Stephen Brittain of The Insurtech Gateway
Ep 95 Jean-Paul Conoscente CEO Scor Global P&C: True partnership isn‘t about being accommodating
Ep 94 William Spiegel Executive Chairman R&Q: Prospering as the insurance ecosystem comes apart
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
Aligned Money Show
Gorse Culture PODcast : The H.R. Detective Agency!
HCI Leadership Revolution
The Ramsey Show
Planet Money