April 29, 2020
The economic fallout from COVID-19 is already challenging property/casualty insurers, and the impact is likely to grow. With fewer cars on the road, auto premiums are decreasing and refund checks are imminent. We’re also seeing rising severity in bodily injury claims, where extended treatment timeframes are pushing up costs. With a tenuous employment outlook, workers’ compensation
claimants may exaggerate injuries to prolong payouts. All of this is happening against the backdrop of a bear market.
Dr. Robert Hartwig, renowned insurance expert and co-director of Center for Risk and Uncertainty Management, will be joined by Verisk claim experts Tamara Flinn and Adam Wesson for an animated discussion of how insurers can adapt with creative strategies to manage rate increases, contain claims costs, and leverage overages.
Topics will include:
- Personal lines and workers’ compensation challenges
- Legislative updates
- Federal relief implications
- Impacts on P&C economy
- Strategies and solutions to manage claim costs and results during the pandemic and beyond
This session is ideal for:
- Claims leadership – to tackle current claims challenges
- Claims managers in workers’ compensation, personal lines, and more – to gain strategies to manage increasing severity and new risks
- Risk managers – to broadly understand changing environment