Risk & Reward: An Inside View of the Property/Casualty Insurance Business

Description

A new book co-written by Stephen Catlin, the founder and former CEO of international insurer Catlin Group Limited and a member of the Insurance Hall of Fame, provides unique insights into the inner workings of the commercial property/casualty insurance industry. In Risk & Reward, co-written with James Burcke, Stephen Catlin draws on his more than 40 years of experience as an underwriter and insurance company executive to discuss some of the more important practices and concepts underlying the insurance business. In Risk & Reward, co-written with James Burcke, Stephen Catlin draws on his more than 40 years of experience as an underwriter and insurance company executive to discuss some of the more important practices and concepts underlying the insurance business. Risk & Reward includes Stephen’s candid views regarding: •Basic insurance industry practices – including underwriting, claims management, reinsurance protection, reserving and insurer-broker relationships – and how they could be improved; •Major challenges facing the insurance industry today, including the growth of cyber exposures and the industry's failure to address critical problems relating to processing, data and transactional costs.; and •Key management principles, including leadership, talent management, brand-building and the need to develop a cohesive corporate culture. Risk & Reward also traces Stephen's entrepreneurial journey in transforming Catlin Group Limited from a small, two-employee Lloyd's of London underwriting agency to a global insurer that employed 2,500 people in 25 countries and underwrote $6 billion in annual premium volume when it was acquired in 2015. Stephen also shares his thoughts regarding Lloyd's, including its turbulent history over the past 40 years, its role in today's global insurance industry and its prospects. Individuals who work in the insurance industry – and even those who know little about insurance – will benefit from Stephen Catlin’s wisdom and insights.