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Free symbols for commercial use10/10/2023 ![]() “Are we doing everything that we can to show our risks in the best possible light and to present it in a way where a carrier can look at it, model it against their book and say, ‘Yes, it makes sense for us to continue to be partners at a rate that isn’t debilitating,’” Ms. In a market where the amount and cost of capital is beyond risk managers’ control, focusing on the quality of the data they provide to insurers regarding their organization’s valuations is critical, said Crystal Flack, Dallas-based vice president, real estate and hospitality practice, at McGriff Insurance Services LLC. Ewing said during the Risk & Insurance Management Society Inc.’s Riskworld annual conference in Atlanta last week. ![]() Policyholders that better manage and improve their risks are likely to get a better result in the hard property insurance market, Mr. “Now, in a lot of cases, it’s a condition of coverage,” he said. In the soft market, policyholders show less tendency to invest in risk improvement, said Scott Ewing, Martins Ferry, Ohio-based head of risk consulting in the Americas for Axa XL, a unit of Axa SA. They are also making greater use of data and analytics, as they look to differentiate their business and demonstrate better risk control to insurers, experts say. Buyers continue to explore alternative risk financing options such as captives, parametrics and insurance-linked securities as property insurance market conditions remain challenging.
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