Industry Insights

Most people in insurance are familiar with Lloyd’s of London, which started in 1686 in London, England, at Lloyd’s Coffee House, a venue popular with sailors, merchants and ship owners. Lloyd’s originally provided shipping news, but it became an ideal place to obtain marine insurance for ship owners interested in pooling their losses so the impact of losing one ship would be spread across the entire group.

This morning as I drove in to work, it was 46 degrees on the thermometer, and this was really the first day that, to me, felt like fall had arrived. As underwriters, we’re currently experiencing a fifth season in the year. It’s called renewal season, and it comes a little earlier every year. This year, it started in late July and will go through New Year’s Eve.

HM is a Stop Loss carrier, which means we’re in the risk-taking business. We don’t shy away from it. We don’t avoid it. We bring a thoughtful approach to our underwriting process. But what does this mean for our clients?