Carol Murphy

Getting there. I have seen more flexibility and creativity in recruiting talent in last few years.

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In a recent analysis of the Dynamic Cost of Claims (DCC) trends, it has become evident that various factors are shaping the future landscape of the insurance industry. From the impact of inflation to technological advancements, societal trends, and regulatory shifts, the DCC trends are painting a complex picture for risk management strategies. Insurance providers will increasingly need to reassess their risk management strategies and adapt to this changing landscape. #SocialInflation #Insurance #RiskManagement

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What's the latest on #medicalprices in #workerscomp, you ask? #MedicalInflation takes on a fresh, new look! Check out the #NCCI workers compensation weighted medical index #WCWMI for the most recent trends.

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Exciting news! Gallagher's Susan Patelson and Mike Bugielski were featured in a recent Risk & Insurance article discussing top-notch communication and collaboration strategies. Their insights stand out in "Risk Collaboration in Action: What Good Communication Actually Looks Like." Check out the article here! https://lnkd.in/gT4cascX #communication #people #peoplebusiness

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Getting insurance wrong can have adverse effects on your company, its directors and officers, shareholders, and even the individual responsible for insurance management. My colleague Lenin E. Lopez developed this guide for anyone new to corporate insurance management.

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Check out Risk & Insurance’s recent article featuring our state of Private Management Liability report: https://ow.ly/oq7Y50SMgol #PrivateManagementLiability #MunichReSpecialty

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It's no coincidence that #BlackFriday Chicago will be hosted at the historic Wrigley Field. Just as underrepresented communities have shaped the #insuranceindustry, they've also played a significant role in the growth and development of baseball as America's favorite pastime. Baseball's journey began officially in 1846 with the first game played in Hoboken, New Jersey. However, it wasn't until over a century later that the presence and impact of Asian Americans in the sport were formally documented. In 1956, Bobby Balcena, a Filipino American, became the first Asian American to play in the league. Balcena's entry into Major League Baseball (MLB) marked the continuation of an important shift in the public mindset that gained momentum when Jackie Robinson broke MLB’s color barrier on April 15, 1942: the realization that anyone, regardless of their heritage, could play at the highest level. Many may not realize that baseball has long been a beloved pastime for Japanese Americans, dating back to the first-generation Issei immigrants. For them, baseball served as a means to integrate into their new communities and stay connected with other immigrants. As early as the 1920s, leagues composed of Japanese immigrant players emerged in the western United States. One of the most notable issei players was Kenichi Zenimura, The Father of Japanese American Baseball. Zenimura, born in Hiroshima, Japan, was a pioneer in the development of Japanese American baseball. He was key in organizing leagues, games, and even barnstorming tours of Japan, including the Philadelphia Royal Black Giants’ (Negro League) tour of Japan in 1927 and Babe Ruth’s tour of the country in 1934. In recognition of #May as Asian American and Pacific Islander Heritage Month, it's important to acknowledge the legacy of Asian Americans in "America’s Pastime" and other aspects of American society, including the #insuranceindustry. Asian Americans constitute 7% of the United States’ population, with 24 million of them among the 334 million Americans. But only represent 1.3% of insurance agency owners based on the Independent Insurance Agents and Brokers of America's Agency Universe Study. As the demographics of our society continue to shift we must equip our Agents and Agency Owners of Color with the tools and resources to respond. That is why The Black Friday Network and Ako Insurance Consulting, LLC are proud to partner with the Asian American Insurance Network (AAIN) and the NAAIA Chicago Chapter to host #BlackFriday Chicago! If you are an Agent or Agency Owner of Color join us in less than two weeks for networking, carrier appointments, and so much more! Registration Link below: https://lnkd.in/eYQb3nCu 📆: Friday, May 10, 2024 🕘: 9:00 am TO 5:30 pm EST 📍: Wrigley Field, 1101 W Waveland Ave F2, Chicago, IL 60613 #insurance #BlackFriday #insuranceindustry #insuranceprofessionals #agentsofcolor #insuranceagent #AAIN #AAPI #equitableopportunities #americaspasttime #baseball

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Gosh, my first-ever podcast episode. Thanks to NAIFA for this fantastic opportunity and for your patience - Suzanne & Christopher! I'm usually one to over-prepare. Here are some thoughts I'd like to leave with my audience. - Embrace Your Uniqueness: Being an immigrant has shaped my perspective and opportunities, teaching me that our differences are not just okay, they're powerful. Celebrate your unique background and view it as your superpower. #CulturalInclusivity - Kindness and Abundance Lead to Success: Long-term success in business isn't just about strategies and goals; it's deeply rooted in kindness and an abundance mindset. When we support and uplift others, we pave the way for mutual success. - Redefining Mentorship: Today's mentor/mentee relationships are evolving. The insights and fresh perspectives from Gen Z and Millennials are invaluable. Embracing these changes is crucial as we learn from each other and grow together. #GenZ & #Millennials are the new #Mentors! - Passion for Insurtech: Understanding your relationship with #technology is the first step in your journey. -Lastly, there is no substitute for good work ethic. I see you! #NAIFAProud

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Sequel In The Making The highly anticipated sequel to the 1996 disaster classic, “Twister,” is set to hit theaters this summer on July 19th. However, the insurance industry is already reliving the sequel of yet another busy, severe weather season. So far in 2024, severe weather events have caused over $10B in insurance industry losses, with more recent events still being tallied. This level of loss is no surprise, as severe weather typically dominates the U.S. during the first four months of the year. Last year, the first four months saw a record $21B in losses. Specifically, the location of these events plays a crucial role in determining insurance losses. This BMS Group Insight looks at the current trends and locations for this severe weather season so far, which shows that while tornado and hail counts are slightly below average this year, hail wind damage reports are about average, but really, two major outbreaks driving the majority of the insurance loss during the first four months. Lastly, the forecast for the remainder of the month will most definitely add to the insurance industry's losses for the first four months of 2024. The current forecast relates to some eye-opening severe weather outbreaks that have occurred during similar atmospheric conditions, and as always, BMS Re will be here to support the insurance industry in understanding the occurrence of severe weather. More great info and detail can be found in the link below. ⬇ https://lnkd.in/gbPn6Qmb Below is the BMS iVision aggregated 2024 maximum 3-sec wind gust over 60 mph in combination with the one-inch+ hail swath as part of our BMS iVision geospatial solution. #SevereWeather #Insurance #Reinsurance #WeatherTrends

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Auto Insurance Fraud is bad for business and causes higher insurance rates for everyone. The recent No-Fault Auto Reforms is tackling this issue head on. #whyismyinsurancesohigh #fraudisbad https://lnkd.in/eVaDHY4s

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There is a wide range of viewpoints regarding whether or not group health plans should cover weight loss drugs. We received an article from one of our online information resources titled “The old-fashioned weight loss method being embraced by insurers.” The article got my attention because a number of groups have inquired about whether or not to cover weight loss drugs.   In reading the article, however, the ‘old-fashioned’ weight loss method referred to was bariatric surgeries. This really surprised me because my view of the ‘old-fashioned’ weight loss method is diet and exercise. There are unintended consequences in cases where either weight loss drugs or bariatric surgeries are involved. In previous years, we had groups whereby bariatric surgeries were performed and ensuing complications ran up in six figure bills beyond the cost of the surgery alone.   More recently, we have a couple of groups who actually have participants using weight loss drugs. Some have told us that some of these participants have experienced difficult side effects from these drugs. Therefore, it still leads me to believe that the tried and true ‘old-fashioned’ weight loss method is still diet and exercise. That is just my opinion, but whenever tried as a lifestyle direction change, it seems to have worked with few if any detrimental side effects for a lot less money.   What do you think?

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Hurricanes and floods can wreak havoc on businesses located in vulnerable regions, leading to significant financial losses and operational disruptions. In such unpredictable circumstances, owning a captive insurance company can provide a unique advantage. Captive insurance allows businesses to take control of their risk management strategies, tailor coverage to their specific needs, and gain financial stability, especially in hurricane or flood-prone areas. This article explores how owning a captive insurance company can greatly benefit businesses in these zones, offering protection and peace of mind during times of crisis. #cicservices #riskmanagement #captiveinsurance https://lnkd.in/gAjydNK4

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