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Being part of the Society has been incredibly fulfilling. It provides valuable opportunities to connect with industry peers, stay updated on market trends, and gain insights into emerging developments. This experience has undoubtedly given me a significant career advantage. -Danielle Johnson, MBA, CPCU NETWORKING | LEADERSHIP | EDUCATION Be more, with The Institutes CPCU Society by your side. Expand your network, grow as a leader, and become the most informed member of your team through: `Unlimited, free monthly webinars; access to our new on-demand Learning Library; a complimentary subscription to Insights, our quarterly professional journal; and a free quarterly online course from The Institutes Knowledge Group. `Free enrollment in Facilitated Study Groups. Get the guidance and support you need to pass core CPCU ® courses. `Instant access to our online community, member directory, Mentor Match program, and volunteer opportunities. `Leadership, volunteer, and engagement opportunities through your local chapter benefits and eight special interest groups. ` Access to Career Center tools and resources. ` Exclusive member discounts on Society events, including In2Risk ® , In2Leadership, and more! Members receive the best rates for all Society events. CPCUSociety.org | MemberResources@TheInstitutes.org | (800) 932-2728 CPCU is a registered trademark of The Institutes Designations, LLC. In2Risk is a registered trademark of The Society of Chartered Property and Casualty Underwriters, Inc.Volume 11, Issue 2 What do you think? Send us your feedback on this issue, along with thoughts on what topics you’d like to see in the future: CPCUSociety.org/Insights. Protect the Brand: Reputation Insurance Evolves 8 New Regulations Make AI Everyone’s Job by Jim Weiss page 16 New Weather, New Costs: The Impact of Climate Change on Casualty Insurance Markets by Ben Boas page 24 Navigating Claims Investigations by Unveiling the Good, the Not Too Bad, and the Ugly by Denise D. Brown and Betsey L. Brewer page 36 The Dog-Eat-Dog World of Animal Liability Exposures by Kristine A. Fox page 44 CPCU View Living by the CPCU Professional Commitment by Bruce McEwan page 48 Committee Corner Recruiting and Retaining Neurodiverse Talent in the Insurance Industry by Brad Gronke page 50 by Christopher J. McKeon2 | INSIGHTS | Summer 2024 The Institutes CPCU Society offers its appreciation and extends sincere thanks to the Agent & Broker, Claims, and Legal & Regulatory interest groups and the IDEA Committee, which contributed to this issue of Insights. THANK YOU! The Institutes CPCU Society is a motivated community of risk management and insurance professionals committed to lifelong learning and the highest ethical standards. Society membership supports all professionals on their unique paths, including pursuit of the CPCU® designation, additional Institutes’ designations, and other personal and professional development goals. To learn more about the CPCU Society, visit CPCUSociety.org. Statements of fact and opinion are the responsibility of the authors alone and do not imply an opinion on the part of officers, individual members, or staff of the CPCU Society. © 2024, The Society of Chartered Property and Casualty Underwriters, Inc. CPCU is a registered trademark of The Institutes Designations, LLC. In2Risk is a registered trademark of The Society of Chartered Property and Casualty Underwriters, Inc. The Institutes CPCU Society Publications Committee Chair: Heather Blevins, CPCU State Farm Vice Chair: Tredessa Travers, CPCU Gallagher Bassett Committee Members: Louis Bonanno, CPCU Arch Insurance Group Abi Potter Clough, CPCU AbiLeads, LLC Gregory Foley, CPCU USAA Delli Bhaskar Jagadeesan, CPCU Guidewire Frederick R. Parcells, CPCU Arch Insurance Group Laura Poole, CPCU Crossway Consulting Teresa Roberts, CPCU, AIC, AIC-M PMA Companies Kathy Steinig, CPCU USAA Michael Vahldick, CPCU Liberty Mutual Liaisons: Kelly McAnally The Institutes CPCU Society Michele Schrotter, CPCU Marsh McLennan Agency Through Insights, a professional journal by The Institutes CPCU Society, you can: •Share your expertise on leadership and soft skills •Keep members informed about emerging industry issues and hot topics •Publish in-depth, relevant insurance articles that promote further conversation Please support our efforts to educate and engage. Learn more at CPCUSociety.org/Insights. Then submit your article by email to CPCUPublications@CPCUSociety.org. See Your Content Featured in an Upcoming Edition! Digital issues of Insights magazine are available on the CPCU Society website at CPCUSociety.org/ Insights. To view, please be sure to log in with your CPCU Society member credentials. Insights OnlineDear Members of The Institutes CPCU Society, This summer, as we gear up for another transformative season, I invite you to embrace the theme I’ve chosen for our time together: “Activate Your Superpower.” Each of us has a unique set of strengths, a personal superpower that we bring to every space we occupy. It’s time to harness that power, not just for personal gain but for the greater good of our industry and the CPCU Society. What’s your superpower? Have you ever considered this question? If not, I encourage you to start today. As you prepare to join us at In2Risk®, our flagship event, think creatively about how you can apply what you learn there, sprinkle your unique brand of magic onto it, and transform into an even better version of yourself—like Diana Prince’s dynamic spin into Wonder Woman or Clark Kent’s transformation into Superman. In2Risk is your platform to explore future possibilities, offering unparalleled opportunities for networking, education, and personal growth. Whether you choose to engage with us in person or participate virtually, your involvement is important. We are crafting an experience that allows every participant, no matter how they attend, to feel the excitement and the potential of what we can achieve together. So, as you consider registering for In2Risk, reflect on how much your engagement could mean, not only to your own career but also to our community as a whole. This event isn’t just about what you can learn—it’s about what you can contribute and how you can grow. Let’s make this a summer of significant impact, where we all step up as heroes in our own right, using our powers to drive change and inspire others. Warm regards, Traci Adedeji, CPCU, ARM, API President and Chair, CPCU Society Leadership Council Letter From the President INSIGHTS | Summer 2024 | 3 Contributors Christopher J. McKeon, MBA, CPCU, ARe, is a casualty underwriting executive with a global insurance carrier. He has spent over 30 years in the insurance industry, earning a variety of underwriting and management roles of increasing responsibility. McKeon holds a Master of Business Administration degree in management from Fordham University and a Master of Professional Studies degree in insurance management from Columbia University, as well as bachelor’s degrees in English and political science from Tulane University. 4 | INSIGHTS | Summer 2024 Jim Weiss, CPCU, FCAS, CSPA, is vice president of research and development at Crum & Forster (C&F). His team is responsible for modeling research and development within C&F’s commercial lines segment. Weiss is also editor-in-chief of Actuarial Review, the Casualty Actuarial Society’s magazine. Ben Boas, ARM, is an underwriting trainee with Markel Specialty’s environmental team and a recent graduate of the University of South Carolina. He is working toward earning the CPCU® designation. Denise D. Brown, CPCU, CIC, vice president and executive claims consultant at InterWest Insurance Services, LLC, brings over four decades of industry expertise, starting as a policy typist and advancing through underwriting to account executive roles. She is actively involved in professional organizations, including The Institutes CPCU Society and the National Alliance CIC Board, and also volunteers as a mentor and presenter of educational seminars. Betsey L. Brewer, CPCU, principal at EPIC Insurance Brokers & Consultants, is a founding member of the USC Marshal School, Peter Arkley Risk Management Institute. She serves on the Agent & Broker Interest Group Committee and is a past president of the CPCU Society and of Independent Insurance Agents & Brokers of California–Los Angeles. For her service to the risk management and insurance industry, Brewer has received the California Ramsden-Sullivan Award.Kristine A. Fox, CPCU, AIC-M, ARM, AIC, API, AINS, SCLA-Gold, is the Midwest regional claims manager for the Property Americas Division of Sedgwick, where she organizes deployment of field resources and oversees client accounts. Fox has over 20 years of experience in property-casualty claims, ranging from homeowners and auto losses to general liability, and has supervised commercial trucking liability claims. She is a past president of the Omaha CPCU Society Chapter. Bruce McEwan is retired after a 42- year career as an underwriter and risk management executive. An adjunct professor for many years, he currently teaches a course in enterprise risk management at the University of Hawaii’s West Oahu campus. Brad Gronke, EdD, MBA, MS, CPCU, AIC, AIM, AIS, SCLA, CLMP, CCP, works in learning and development for Gallagher Bassett and serves as faculty at Benedictine University. He is a member of the CPCU Society Leadership Council; past vice chair of the Inclusion, Diversity, Equity, and Awareness (IDEA) Committee; and past president of the Chicago-West Chapter of the CPCU Society. Want to see your company’s ad in Insights? We are now including members’ ads in Insights! Choose from a menu of options to reach fellow go-getters in the most effective and cost-conscious way for you. To learn more, contact Adam Lachowicz at Lachowicz@TheInstitutes.org or (610) 251-2738. ADVERTISE HERE!STAY AHEAD OF INSURANCE DISRUPTION EXPLORE THREE CORE CONTENT AREAS Insurance Thought Leadership’s weekly email newsletter, SIX THINGS, delivers to your inbox the latest ideas and analysis about the drivers and strategies transforming insurance. SIX THINGS features the best thought leadership of the week from a diverse and influential array of authors, along with insightful commentary by Paul Carroll, ITL’s editor in chief and two-time Pulitzer Prize nominee. Innovation & TechnologyInsurance & RiskStrategy & Operations Scan Me SUBSCRIBE TO SIX THINGS: INSURANCETHOUGHTLEADERSHIP.COM/SIX-THINGS DISCOVER MORE Dive into an expansive world of knowledge with our new Learning Library! Offering hundreds of on-demand educational resources like webinars, articles, podcasts, and more, the library is your key to staying updated and ahead in your field. CPCUSociety.org/LearningLibrary Log in anytime!ELEVATE YOUR CPCU EXAM PREP. Facilitated Study Groups Score higher on your next CPCU 500, 520, 530, or 540 exams with The Institutes CPCU Society’s eight-week study groups. You’ll benefit in more ways than one: `Professional facilitators—Expert guidance on CPCU ® content. `Weekly virtual meetings—Interactive, collaborative learning. ` Real-world application—Practical scenarios for better understanding. `Peer discussions—Engage with a community of learners. `24/7 online access—Resources and community at your fingertips. `Networking—Build career-long connections. Learn more at CPCUSociety.org/StudyGroups Study groups are offered quarterly and are included with your Society membership. CPCU is a registered trademark of The Institutes Designations, LLC. Next >