The Voice of Insurance Ep 22 Casualty, Capital and Covid with Jason Howard CEO of Beach
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May 5, 2020 In this discussion, Jason Howard, CEO of Beach & Associates and a seasoned leader known for his candid views, shares his insights on the casualty market's challenges amid COVID-19. He dives into the crucial nature of June renewals and the need for innovative insurance solutions to adapt to crises. Jason discusses the evolving landscape due to major broker consolidations and emphasizes the importance of reform at Lloyd's. With his straightforward approach, he provides a fresh perspective on risk management and the future of independent distribution in insurance.
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Reinsurers Waited To See COVID Impact
- Jason Howard observed reinsurers delayed blanket exclusions and instead tried to understand client impact first.
- He expects exclusionary language could follow once exposures become clearer.
Clarify And Price Business Interruption Cover
- Jason Howard urges insurers to define and price business interruption cover precisely for pandemic-like risks.
- He warns reinsurers will demand clarity if they are not being charged to provide cover.
Nursing Homes Face Capacity Withdrawal
- Jason Howard warns nursing homes and certain healthcare sub-classes will struggle to find capacity after COVID-19.
- He notes some market participants have withdrawn or insist on full exclusions, complicating placements.