Byron Spruell

During these increasingly litigious and volatile times, your company’s officers and board of directors may be targets of financially damaging lawsuits. Decisions and judgments made by directors and officers are constantly scrutinized and from a broader range of parties than just shareholders, such as state and federal regulators and other governmental authorities. Learn how Aon can assist in analyzing your current D&O program to address these challenges.

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A first from #NCCI! My colleagues David Colon and Casan Scott examine #medical #impairment in #workerscomp across states, for different medical conditions, #age groups and a lot more. As the #AMA updates the AMA Guides to the Evaluation of Permanent Impairment, this information is not only critical but eye-opening. Find out why #statisticalmodeling is key to understanding #impairment drivers. #impairmentguides #workerscompensation #medicalpixels

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Gallagher's John Farley weighs in on the latest Carrier Management article, “Geopolitical, Election Risks Have Insurers on High Alert.” His expert analysis offers crucial perspectives on how geopolitical tensions and election-related uncertainties are impacting the #insurance sector. 🔍 Dive into the article for valuable insights: https://lnkd.in/gmNMriMT

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Liability loss rates continue to pose serious concerns for insurers, and buyers continue to see pricing go up. Economic and social inflation are heavily to blame. All the while, new risks seem to manifest more quickly and with greater velocity than ever before. Carriers will continue to look at managing overall capacity including attachment points, pricing and terms and conditions. As a buyer, ask yourself: How can we balance capital efficiency with our tolerance for risk and volatility?  A big part of the answer can come from leveraging solid analytics and tools to help you assess your frequency and severity of risk, and ultimately determine the best program structure and use of spend.

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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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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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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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Following our annual marquee event, the Professional Services Practice at Aon has published the following takeaways. #insurance #lawfirms #liability #liabilityinsurance #lossprevention #cyberrisk

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In 2024, private businesses should pay close attention to elections and key court cases as they monitor the ever-shifting regulatory landscape. The regulatory environment can be a key factor in private management liability risk. Munich Re Specialty presents thought leadership and expert opinions about the private management liability space with our latest report. Stay informed on all things related to private management liability insurance. Read or download our report here: https://ow.ly/X70L50TiWlV #MunichReSpecialty #PrivateManagementLiability

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In 2023, California reformed its decades-old Medical Injury Compensation Reform Act (MICRA) to raise the cap on non-economic damages and restructure the limit on attorney fees. Casualty expert Daniel Mattioli explores how these reforms have impacted the medical malpractice market, and the trends insurance professionals should be on the lookout for.

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AM Best reported today in an on-line market report that captive insurers (CIC - captive insurance composites) regularly outperform commercial carriers (CCC - commercial casualty composites). Risk Retention Groups (RRGs), which are enabled under federal law, are comparably competitive with the CCC. The hardening commercial insurance market continues to drive a variety of businesses to captive insurance solutions. If your business (or your clients) are suffering from over-exposed risks, rising commercial premiums, and reduced coverages, please contact AllianceCaptiveMgt and Tim Luby Harry Tipper James M..

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https://lnkd.in/gfetjDgP FTA: "Aviation insurance premiums are now predicted to reach a 20-year high. Rising repair costs, ground incidents and fewer mechanics are all exacerbating aviation risk. 'In part, the mechanic shortage is a consequence of an aging global population,' [Cristina Schoen, global head of aviation claims at Allianz Commercial] said. 'Between now and 2027, a record number of aviation mechanics will be eligible to retire as more workers reach their 60s,' she continued...At the same time, next generation aircraft technologies and applications have begun to impact claims, particularly in engine disassembly and repair costs...Meanwhile, the global volume of air passengers is expected to hit an all-time high in 2024, with Asia-Pacific and North America leading the way."

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📈78% of high-growth companies surveyed in the recent Aon | NCMM study have already started incorporating artificial intelligence in their firms.🎧Tune in to NCMM's latest podcast to hear Lori Goltermann discuss the benefits and risks of incorporating AI: https://lnkd.in/eugka3cm #MiddleMarket #AI

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Learn from industry experts, Nicole Delimitros, Sarah Dahl, Robyn Bartlett and Daniel M. Bondavalli of Marsh McLennan Agency about maternity and parental leave, regulatory leave, holiday leave, and more. Register for their webinar on September 26 at 2pm ET. #EmployeeBenefits #PaidLeave #FamilyLeave #ADL #MarshMMA

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As we navigate the transition to hybrid and in-office work models, it's crucial to understand how this affects liability risks, employment practices, and legal compliance. Cultural shifts are also impacting workplace dynamics with diversity and inclusion challenges. Learn about the factors driving return-to-office momentum and then download our report to understand how it is affecting private management liability. Gain valuable insights and strategies to navigate the changing private management liability landscape in our latest report 👉 https://ow.ly/Loof50Tu8Ih #MunichReSpecialty #PrivateManagementLiability

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Latest Aon health care trend guidance for employers is out, with a 9% increase projected for 2025. We tend to think about trend on an annual basis (aligned with budgeting cycles), so maybe 9% doesn't seem too scary. But on heels of 8.5% trend for 2024, and with the next era of cost drivers arriving, trend will likely sustain, if not further accelerate, into 2026 & beyond. To put the significance of high healthcare trend in the context of total rewards, if trend continues its trajectory through 2028, it will grow at a rate: • 4x the rate of general inflation • 3x the rate of wages • 3x the rate of retirement savings The downstream impact on health outcomes, affordability, and the disparities created is significant. A few stats that jumped out to me: • $125,000: Amount of earnings the average family with employer-sponsored health insurance lost out on due to growing health insurance premiums (paycheck cost) cutting into wages (JAMA). • 16%: Percentage of employees who will be considered to have low healthcare affordability, spending >10% of their income on healthcare cost (up from ~10% in 2024). Health care trend is very much sustainable, but it will be sustained at the detriment of organizations and individuals. Is it finally time for a different approach to healthcare? Read more about these insights: https://ow.ly/SZB830sFQXK #HealthCareTrends #HealthCareInsights #aon #totalrewards

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As health risks evolve, employers must adapt their strategies to maintain the affordability of healthcare plans. Is your organization prepared? https://bit.ly/3Uc2ux5 Explore how employers and insurers can navigate these shifting dynamics and uncover the top trends shaping employer-provided health benefits in our latest Health Trends 2025 report. #health #benefits #HR #healthcare #insurance

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