North Carolina-based First Citizens will buy Silicon Valley Bank, the tech industry-focused financial institution that collapsed earlier this month, rattling the banking industry and sending shockwaves around the world. The deal could reassure investors at a time of shaken … [Read more...] about WCNC-Charlotte: SVB Acquisition 4/12/2023
Carolina Business Review- 4/7/2023
PBS published a video unpacking banking and financial services in North and South Carolina. The video features an executive panel on banking with James Sills, President and CEO, M&F Bank; Peter Gwaltney, President and CEO, NC Bankers Association; Fred L. Green, III, President … [Read more...] about Carolina Business Review- 4/7/2023
Co-Authored White Paper- “Hard Market Cycle Arrives”
Dr. Robert Hartwig co-authored a white paper in conjunction with the American Property Casualty Insurance Association (APCIA) on inflation, natural disasters and the strained property insurance markets. Read the entire paper below. … [Read more...] about Co-Authored White Paper- “Hard Market Cycle Arrives”
Leader’s Edge Magazine 3/12/22- Prickly Peril
Few insurance markets have experienced as much upheaval in the last few years as cyber. Longtime industry observers agree with this nightmarish possibility. “There’s no question the potential for truly catastrophic cyber losses will rival the largest natural disasters in history, … [Read more...] about Leader’s Edge Magazine 3/12/22- Prickly Peril
Marketplace 03/05/2023- Hurricane Risk Will Grow in the Coming Decades, Report Warns
It’s been five months since Hurricane Ian slammed into southwest Florida. More than 150 people died in the storm and its aftermath, and the National Oceanic and Atmospheric Administration estimates the damage from high winds, storm surge and flooding at nearly $113 billion … [Read more...] about Marketplace 03/05/2023- Hurricane Risk Will Grow in the Coming Decades, Report Warns
Business Insurance 03/05/2023- Ohio Train Derailment Puts Focus on Railroad Insurance, Risk Management
The attached article posted by the Business Insurance Magazine focuses on the Feb. 3 derailment and chemical spill involving a freight train carrying hazardous materials operated by Norfolk Southern Corp. in East Palestine, Ohio, the event is likely to trigger claims on a … [Read more...] about Business Insurance 03/05/2023- Ohio Train Derailment Puts Focus on Railroad Insurance, Risk Management
Insurance Journal 2/21/23- Young Voices Reflect on Industry Talent Crisis
This article posted by the Insurance Journal addresses the current talent crisis that many insurance companies and industry professionals are predicting or currently facing. Many industries had baby boomers who aged in place over the past couple of decades and are now retiring en … [Read more...] about Insurance Journal 2/21/23- Young Voices Reflect on Industry Talent Crisis
1/6/2023- FTX Liability Tentacles Spread Far
Read Dr. Hartwig's comments in Carrier Management on the "liability tentacles" arising from the collapse of #FTX. While there are certainly D&O and E&O implications, he takes a dim view of crypto in general and repeatedly warns his students that cryptocurrencies have no … [Read more...] about 1/6/2023- FTX Liability Tentacles Spread Far
Best’s Review 12/22- In New Year, Insurers Face Prospects of Inflation and Recession
The December issue includes Best’s Review’s annual listing of top auditors and actuaries as well as rankings of U.S. surplus lines insurers and U.S. inland marine, U.S. ocean marine and U.S. fire and allied writers. As 2022 comes to a close, insurers see uncertainty on the … [Read more...] about Best’s Review 12/22- In New Year, Insurers Face Prospects of Inflation and Recession
Denver Post 12/01/22- Colorado wildfires are making it harder to insure homes. Could a publicly funded plan stave off an insurance crisis?
Today’s Denver Post Front Page Sunday headline story featured a lengthy, in depth piece entitled “Will Insurance Companies Opt to Leave Colorado?” focusing on insurance affordability, availability and CO DOI/legislature’s appetite for a residual market/FAIR Plan and the CO DOI … [Read more...] about Denver Post 12/01/22- Colorado wildfires are making it harder to insure homes. Could a publicly funded plan stave off an insurance crisis?