What is the best gift the industry could give you this year?
“What we do is difficult and demanding because our industry is based on unfortunate situations and shared challenges. However, it offers two gifts that are incredibly rewarding: The opportunity to convert unfortunate situations into shared stories of recovery and resolution, and the opportunity to collaborate with exceptional teams and professional counterparts to overcome hurdles and create shared solutions. Those gifts are always hard-earned, but incredibly rewarding to us and others!”
Bob Bowman, Senior Director, Chief Risk Officer, The Wendy’s Company. CLM Fellow since 2010.
“In the past few years, we have been observing a trend of increasing nuclear verdicts that cause significant challenges in the industry and make it difficult to manage potential risks. For this holiday season, it would be great to see a reversal of this trend and see these extraordinary verdicts reined in.”
Bolam Kim, Partner, Wood Smith Henning & Berman LLP. CLM Member since 2022.
“Practically, it would be great to see the industry work together to address some of the nationwide issues we wrestle with, including unanchored verdicts coupled with social inflation. Personally, it would be nice to have opportunities to visit with clients in the office again. The Zoom world is a little impersonal, and building relationships face to face is so much better.”
Joe Duncan, Partner, Clark, May, Price, Lawley, Duncan & Paul LLC. CLM Member since 2019.
“With the courts being opened after COVID-19, trials are going forward and being noticed at a fast clip. From an excess carrier perspective, we need to escalate internal pre-trial reports 30 days before trial. As such, being provided timely notice of trials and pre-trial reports would allow more proactive claims handling.”
Mary Ann Vorndran, AVP Excess Claims Manager, AXIS Capital. CLM Fellow since 2014.
Number of Zoom users who participated in meetings daily as of 2022.
Percent of travelers who are considering taking their families on business trips.
Source: California Broker Magazine