Following major hurricane losses, the insurance industry responded on several levels. It built sophisticated models to better predict and mitigate resulting losses. It actively supported regulations and building codes to ensure more durable building materials and processes. It created windstorm pools to share the cost of essentially uninsurable risks in the eyes of the private market, to name just a few changes.

I recently had the exciting opportunity to travel to Europe for two weeks with some family and friends. It was breathtaking, eye-opening and sometimes exhausting. Spanning eight countries, the journey left us with many fantastic and unforgettable memories. It also helped me realize how many of our experiences are connected with my daily work as an Actuarial Analyst. 

Many great leaders have inspired me during the course of my extensive international marketing and communications career.  From graduate school to the business world and global humanitarian work, I’ve witnessed a multitude of exceptional leaders take organizations to new heights while improving others’ lives.  

This year’s National Risk Retention Association (NRRA) National Conference in Chicago offered several sessions focused on disruptive innovation’s impact on the rapidly changing face of risk. The keynote presentation, The Reality Trap, was a thought-provoking exploration of how expanding one’s perspective can equip people to better embrace change. The presenter challenged audience members’ preconceived notions about generational differences and suggested that we simply cannot learn new skills quickly enough to keep up with the ever-accelerating pace of change.

A Pinnacle client recently inquired about a paper regarding an approach to estimating the maximum premium appropriate for a captive insurance company. The author sought to determine a ceiling on the premium a company might pay for insurance by treating insurance as a put option and applying a popular financial tool, the Black-Scholes model.