Like many professional organizations, the CPCU Society has been challenged in recent years by a decreasing membership base. The president-elect of the Society’s leadership council has some ideas on how to reverse that trend.
Rather than searching for permutations of claims characteristics in swathes of data, you tell the machine to look for claim cohorts that are experiencing unexpected development – and set it off to do the searching.
In May, London-based CFC Underwriting announced that it had named James Burns as head of cyber. Mr. Burns now heads a team of more than 50 underwriters who are devoted to underwriting cyber risk for large corporate clients and SMEs.
When professional services firms are sued by clients, the likelihood of an insurance claim increases when the client suffers a significant loss. Now’s the time to get a grip on the claims landscape and prepare risk management tools to assess and address exposures.