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   * Critical Risks
   * Risk Management
   * The Insurance Industry
   * Claims & The Law
   * Workers’ Comp Forum
   * Risk Insiders
   * Sector Focus
   * .
   * Risk Central
   * Power Broker
   * Risk Matrix
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   * Teddy Award
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JUSTIN KOLLINGER’S EXTRA CREDIT COURSE: HOW UNITED EDUCATORS’ RMPC PROGRAM IS
CHANGING CAMPUS RISKS

United Educators’ Justin Kollinger strives to make higher ed as risk tolerant
and secure as possible through the organization's Risk Management Premium Credit
program.
By: Autumn Demberger | July 14, 2023
Topics: Education | July/Aug. 2023 Issue | Risk All Stars | Risk Management



Justin Kollinger has found his home at United Educators (UE). That’s because
Kollinger has always been “a higher education guy,” his work — and even
authorship — driven by a desire to solve the challenges these institutions face.

“The challenges in education are so fascinating,” said this senior risk
management consultant for UE, “and difficult, because institutions’ missions and
structures are different from other types of organizations. Risk management is
the strategic approach to solving those challenges.”

With a membership of almost 1,600 higher education and K-12 institutions, UE is
always looking for ways to help its members proactively address their biggest
risk areas and develop resilient strategies.

One area where Kollinger is making strides is with UE’s Risk Management Premium
Credit (RMPC) program. Through this program, UE works with its members to
encourage taking risk mitigation actions on more critical liability risks.

And when they do so, UE rewards members with a premium credit.

“We want them to take this tool as a risk manager and use it to enhance their
authority and ability to execute upon an initiative and build buy-in with
partners across campus,” Kollinger explained.

As part of his role, Kollinger analyzes claims trends, risk management
vulnerabilities and member participation and satisfaction data. He has helped
transition the RMPC into a proactive risk management tool that enables members
to get ahead of their risks.

Case in point, Kollinger and team found a growing need to address student mental
health in higher education. The American College Health Association’s 2022
survey of 54,000 undergrads found 77% of respondents saying they are
experiencing moderate to serious psychological distress on campus.

“An institution’s mission is to educate students,” said Kollinger. “When
students are suffering from mental health challenges, the institution is going
to struggle to achieve that mission.”

As a result, UE partnered with The Jed Foundation (JED) to help universities on
their mental health resource journey.

“We have a risk management perspective on student mental health, but student
mental health is multifaceted, both from a student’s experience, but also from
the administrative experience. The Jed Foundation has that multifaceted
approach. They have the experts and expertise.

“Adding the ability to pursue student mental health through the RMPC program
gives risk managers a way to be a helpful ally to their student affairs and
academic affairs colleagues, and reward them for it,” Kollinger explained.

Kollinger acts as a dedicated ally for UE’s members as they integrate the
programs offered by JED through RMPC.

In fact, when the partnership was announced in June 2022, Kollinger said UE’s
goal was to get 20 members situated with JED programming by the end of the
second year.

“It exceeded our expectations,” he said. “We had almost 30 in the first year.” &

--------------------------------------------------------------------------------



Every year, Risk & Insurance selects deserving candidates to become Risk All
Stars. These are risk managers who, through their perseverance, passion and
creativity, make a big difference to the stability of their organizations.

See all the 2023 Risk All Star Winners here.

 

Autumn Demberger is a freelance writer and can be reached at
riskletters@theinstitutes.org.





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SPONSORED: PHILADELPHIA INSURANCE COMPANIES



HOW A CARRIER PARTNER CAN HELP NAVIGATE A CHALLENGING MANAGEMENT AND
PROFESSIONAL LIABILITY MARKET

A combination of a choppy economy with increased claims frequency and severity
could lead to rate increases in the Management & Professional Liability market.
By: Risk & Insurance | April 3, 2024

Rates in the management & professional liability (M&PL) markets were on the rise
from 2020 to early 2023 and are now falling rapidly.

M&PL divisions manage a number of different insurance products including
management liability (D&O), professional liability (E&O), employment practices
liability (EPL), fiduciary liability policies, cyber, etc. In 2023 and into
2024, a big influence on the marketplace has been the extremely aggressive and
softening public company D&O market.

Though these rates have been softening for management liability, that may change
over the next few years as companies continue to adjust their business models
motivated by economic uncertainty. Layoffs were up nearly 200% last year, Forbes
reported, even as other recession indicators, like the inflation rate, improved.
A recession could lead to an increased claim activity and force carriers to
raise rates.

“Whenever there is a meaningful downturn in the economy, we tend to see claim
frequency pop up,” said George Schalick, Jr., senior vice president of the
Management and Professional Liability Division at Philadelphia Insurance
Companies (PHLY).

With continued fiscal uncertainty, businesses potentially already burdened with
pandemic-related claims should seek a carrier with a long history in M&PL
products. They will provide much-needed risk management guidance and be better
positioned to support their insureds during market fluctuations.


WHY INSUREDS MIGHT SEE AN UPTICK IN M&PL CLAIMS

George Schalick, Jr., Senior Vice President of the Management and Professional
Liability Division, Philadelphia Insurance Companies

The current soft market might come as a bit of a surprise as it does not track
with previous underwriting cycles and economic conditions. Afterall, many
privately held and non-profit organizations struggled during the early days of
the pandemic with shutdowns and rapidly declining revenues.  But the Government
assistance programs, like the Paycheck Protection Program loans, helped keep
many afloat during the tough times.

“During COVID many organizations stopped doing business until they were able to
sort out all of the health and safety challenges,” Schalick said. “They were
forced to lock down, but then all the government assistance programs allowed
them to keep people employed. The increased volume of claims we anticipated we
would see coming from the lockdowns and restrictions that were imposed upon
businesses in the U.S. didn’t manifest at first.”

“Just because there wasn’t an onslaught of reported claims at the beginning of
the pandemic, doesn’t mean the circumstances that would give rise to a claim
being reported didn’t occur. Courts and the judicial system were closed or
slowed and now that they are back open, we’re starting to see the circumstances
that occurred during the COVID lockdowns becoming claims today,” Schalick said.
“Litigation is progressing.”

Added to the delayed pandemic litigation is a concern over newer claims that
might be filed as the country inches toward an economic downturn. Though a
recession was avoided in 2023, experts think a soft dip could occur in 2024,
with 76% of economists saying there’s a 50% or less chance of an economic
downturn this year — that almost always results in more management liability
claims.

“During the Great Recession in 2008, we saw an almost immediate spike in claims
because of the economic conditions and the pressure it placed on organizations.
They were making personnel changes with significant belt tightening almost
immediately.” Schalick said.


WHAT’S IN STORE FOR M&PL POLICY RATES IN 2024?

Despite an uptick in claims and increased economic uncertainty, management
liability rates haven’t increased, resulting in market-wide pricing levels that
may not meet the increased pressure of rising settlements and jury verdicts.

“Rates are going the other direction and settlement values are not falling,”
Schalick said.

The mismatch between rates, claim frequency and severity is, in part, because
carriers experiencing the dramatic soft market in the public D&O market are
seeking premium gain in the private and non-profit market.

“In the public company market, the rates have been decreasing significantly. The
rates were increasing in the private, not-for-profit market, and rightfully so,
but there’s a desire to supplement overall mid-size D&O for carriers who also
write private not-for-profit, and they see that as an opportunity to aggregate
premium,” Schalick said. “So the always competitive landscape in the private,
not-for-profit market has dramatically increased in the last 18 to 24 months.”

Still, companies of all sizes and types should be concerned about management
liability rates in the future. Legal system abuse is resulting in increases in
both the amount of litigation and the size of verdicts plaintiffs are receiving.

Certain areas of the country are particularly vulnerable to this type of legal
system abuse. As a result, insureds in these localities are likely to be
vulnerable to rate increases.

“The environment is so positive for the plaintiff that forces premium increases
so carriers are able to stay in that market long term,” Schalick said.


WHY A TENURED CARRIER PARTNER CAN HELP INSUREDS NAVIGATE AN UNCERTAIN MARKET

It’s clear that insureds are facing an uncertain M&PL market over the next few
years. Fortunately, carriers with a long history in the M&PL space will be there
to offer stability.

Philadelphia Insurance Companies has been supporting this market for 35 years.
PHLY is committed to offering long-term rate stability, even as economic and
claims trends start to push premiums upwards. They have an appetite for all
sorts of companies, large and small, for-profit and nonprofit alike.

“We’ve been at this game for a long time and are one of the most tenured
underwriters in this space,” Schalick said. “We like to stay very consistent.”

 PHLY has worked with both for-profit and non-profit on management liability
policies. With dedicated M&PL teams throughout the company’s 13 regions, PHLY
provides the support agents and brokers are looking for on behalf of their
clients. The teams know their regions well and can respond to local trends.
They’re also dedicated to making the renewal process as easy as possible for
their partners and policyholders.

“We have real confidence in our results, so we focus a lot on making the renewal
experience as painless as possible for all agents and insureds,” Schalick said.

The company is also investing in tools to help insureds avoid losses. Earlier
this year, they launched a new online risk management platform, PHLYGateway,
which offers resources for insureds on how to create an employee handbook and
trainings on issues such as recognizing workplace sexual harassment and
discrimination.

If insureds have questions, they can consult a Best Practices Help Line,
provided via the platform. That way, they can get on the spot risk management
guidance to help them prevent claims.

To learn more, visit:
https://www.phly.com/mplDivision/managementLiability/default.aspx.


 



This article was produced by the R&I Brand Studio, a unit of the advertising
department of Risk & Insurance, in collaboration with Philadelphia Insurance
Companies. The editorial staff of Risk & Insurance had no role in its
preparation.















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