Property-casualty claims executives are not sleeping soundly now that we've entered hurricane season, but catastrophes are not the only concerns keeping them up at night, with budget pressures, recruitment and regulation among the most pressing challenges cited at the annual ACE conference earlier this month.
“The Long Island Express hurricane is my worst nightmare,” according to Lisa St. Onge, assistant vice president at Amica Mutual Insurance Company. “How do you handle a claim volume that could be one- or two-times your yearly average?”
Managing catastrophes will always remain an ulcer-inducing exercise for insurers, agreed Ms. St. Onge, part of a panel addressing industry threats here during the ACE conference, run by Claims (which, like National Underwriter, is a Summit Business Media publication).
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