Market Update & Predictions
September 21, 2021 @ 11:30 am - 12:45 pm
Continued Navigation of the Complexities of the Insurance Marketplace
As we wrap up 2021, we continue to navigate a period of great volatility and uncertainty. Join us as we hear from expert leaders from AIG as we discuss the realities of today’s challenging landscape, provide an update on current insurance market trends, loss prevention and identify key considerations for the path forward. What continues as a firming insurance market, has become even more challenged because of the convergence of factors ranging from increasing loss frequency and severity to a reduction of capital, heightened focus on profitability and pending Business Interruption lawsuits from COVID and liability claims of COVID. We will discuss the impact of these circumstances reflected in the hardening insurance market across the board, and most severely for long tail products such as (D&O, Excess Liability, and workers comp).
In addition, this panel discussion will discuss key considerations around evaluating risk and setting realistic expectations for the current market conditions and potential impact on budget. Hear from a local Director of Finance and Insurance, Theresa Craw of Nordstrom on key learnings and areas of focus for the management of risk for the balance of 2021.
This course is approved by the Washington Office of Insurance Commissioner for 1 hour of CE credit. (CE Course Number: 627085).
- Theresa Craw, Director of Insurance & Finance – Nordstrom, Inc.
Theresa joined the Risk Management team at Nordstrom in January 2015. The first few years were spent primarily supporting the systems and analytics group as well as managing the RMIS for the department. In 2017, Theresa shifted her focus to support insurance placement, and in 2020, she also began supporting the legal finance group within the organization. Theresa graduated from Seattle University and completed her MBA at her alma mater. Prior to Nordstrom, she spent a few years supporting procurement and aircraft delivery at Boeing, here locally in the greater Seattle area.
- Erin Hoffman, Cyber Underwriter – AIG
Erin is an Executive Underwriter in the Northwest region within AIG’s San Francisco office. She brings deep experience in cyber and professional liability and co-leads the West Coast team. She joined AIG in June of 2020. Erin’s professional background is diverse with both retail broker and carrier experiences. She spent five years with Marsh on the broking side and three years with Beazley in Underwriting. Erin graduated from Saint Mary’s College of CA with a Business Administration degree and a minor in Communication.
- AMark Girolamo, Financial Lines – AIG
Mark Girolamo is a Management Liability Underwriter with the American International Group focusing on Directors & Officers Liability, Employment Practices Liability, and Employee Benefit Fiduciary Liability. Mark currently manages the Private and Not-for-Profit book in the West Zone. His clients vary in range from small family-owned businesses to large multinational corporations. Mark has been with AIG for 16 years in New York, San Francisco, and Seattle in roles of increasing responsibility. Mark is a board member of the Insurance Industry Charitable Foundation: Seattle Chapter and Treasurer of AIG’s Veterans Leadership Network.
- Heather Reynolds, IA Property – AIG
Heather Reynolds is the Retail Property Underwriting Manager for the Northwest Region with AIG. Heather has over 25-year underwriting experience with the last 12-years being property focused. She leads a team of 7 underwriters in the Northwest, focusing on large commercial property accounts.Heather has been with AIG since 2012, handling complex property accounts prior to her management role. Heather has her Chartered Property Casualty Underwriter designation and a B.A. in Economics from San Diego State University.
- Joe Hamilton, Excess Casualty – AIG
Joe Hamilton is the Zonal Underwriting Manager for the West for AIG, focused on Excess Casualty lines. Prior to AIG he sent 16 years at GAPRIS Insurance Services as the Divisional Vice President.
- Gary Shertenlieb, Risk Management – AIG
Gary Shertenlieb is the Executive Vice President of AIG Risk Management, West Zone. He was the underwriting manager at AXA XL prior to AIG and served as a broker at Lockton Companies. He’s an MBA of Emory University.