Imagine yourself steering through the tumultuous waves of today’s insurance market. As an insurance producer, you’re not just managing risks; you’re navigating a sea of change characterized by escalating prices, tightening underwriting standards and reduced availability of coverage.
Welcome to the hard market—a realm where only the well-informed can thrive. PIA’s upcoming two-hour continuing education course, Bridge Over Troubled Waters: Navigating the Hard Market, offers you a lifeline. Designed to equip you with the insights and strategies needed to maneuver these challenging waters, this course will transform challenges into opportunities for growth and superior client service.
A storm wreaks havoc in Taiwan, and a year later, your clients in New York City face a spike in their insurance rates. How are these events connected? In the first half of the course, we’ll unravel the complexities of reinsurance—a fundamental aspect that plays a pivotal role in the insurance premiums your clients pay.
It starts with a primer on reinsurance, covering its various forms like treaty and facultative, to excess-of-loss and stop-loss. Why do insurers rely on reinsurance? To distribute risks and stabilize their operations. You’ll learn how these agreements are forged and renewed, and most importantly, what this all means for your day-to-day dealings with clients.
Drivers of loss
Attendees also will be offered an in-depth discussion on some of the key drivers of loss in the Northeast. The increased frequency of extreme weather events will be explored, focusing on case studies from the Northeast. You’ll see a timeline of major events from the 1980s to today, understanding the economic and insurance implications tied to each.
Key drivers of litigation costs will be analyzed and discussed—critical knowledge in the Northeast market, which is notorious for its challenging legal environment. Comparisons with other states will shed light on unique regional challenges and opportunities.
Arm yourself with the knowledge to not only survive but excel in today’s challenging insurance climate. Transform your approach, bolster your expertise and provide unparalleled value to your clients. Set sail with us, and let’s navigate these turbulent waters together.
Out-of-this-world education
This education session—which is part of the PIANJ | PIANY Annual Conference, June 2-4, 2024, at the Hard Rock Hotel Casino, Atlantic City, N.J.—will be held on Monday, June 3, 2024, from 8-10 a.m.
Bradford J. Lachut, Esq., also will moderate The Seven-Ten Split Mock Trial: Navigating Agent Errors & Omissions. This mock trial is designed to simulate a trial based on real errors that arose under errors-and-omissions liability for insurance agents.
Additionally, Steve Lyon, CPCU, CIC, CRM, AAI, ARM, AIS, CRIS, will navigate builders risk policies in Builders Risk 2024–Unraveling the Maze of Coverage Differences; and Jim Venezia, CPCU, CCIS, CCIC, will examine the nuances of cybersecurity and insurance in Cyber Coverage Explained in Depth–Finally!
These education sessions have been approved for New York, New Jersey and Pennsylvania CE credits.
For more details, or to register for the event, click here.
Bradford J. Lachut, Esq.
Bradford J. Lachut, Esq., joined PIA as government affairs counsel for the Government & Industry Affairs Department in 2012 and then, after a four-month leave, he returned to the association in 2018 as director of government & industry affairs responsible for all legal, government relations and insurance industry liaison programs for the five state associations. Prior to PIA, Brad worked as an attorney for Steven J. Baum PC, in Amherst, and as an associate attorney for the law office of James Morris in Buffalo. He also spent time serving as senior manager of government affairs as the Buffalo Niagara Partnership, a chamber of commerce serving the Buffalo, N.Y., region, his hometown. He received his juris doctorate from Buffalo Law School and his Bachelor of Science degree in Government and Politics from Utica College, Utica, N.Y. Brad is an active Mason and Shriner.
