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Risk in Context Podcast: Effective risk management strategies amid rising casualty rates

In this episode our speakers share effective strategies that organizations should consider to control their casualty risks and they discuss actions that senior leaders can take to optimize their casualty insurance program in line with evolving and emerging risks.

The current casualty risk landscape is creating numerous challenges for organizations. A heightened litigation environment, longer claim cycles, and increasing jury verdicts all contribute to higher casualty rates.

Faced with an increasingly challenging environment, it is important for senior leaders to take a proactive approach to managing their casualty risks, both through actions to minimize the risk of incidents as well as by identifying and addressing potentially problematic claims early. Data-driven insights can help companies identify potential pitfalls to reduce the risk of catastrophic losses and also provide critical information to help them refine their risk retention and transfer approaches.

In this episode of Risk in Context, our speakers share effective strategies that organizations should consider to control their casualty risks and they discuss actions that senior leaders can take to optimize their casualty insurance program in line with evolving and emerging risks.

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Key takeaways

Engage in proactive risk management

Organizations should consider plans to address potential casualty risks while at the same time have structures in place to identify potentially problematic claims early.

Optimize claims management processes

Reviewing claims early can help reduce the potential for catastrophic losses. Consider alerting your broker or insurer as soon as problematic claims are identified.

Leverage data-driven insights

Analytics can help organizations make informed decisions about risk retention and transfer programs, enabling them to optimize casualty insurance programs and manage total cost of risk effectively.

About our speakers

Chetna Gulati Kapoor

Global Claims Advocacy Leader

  • United Kingdom

Chetna Gulati-Kapoor is Marsh’s Global Claims Advocacy Leader. Based in London, she provides technical assistance on complex claims across various regions and lines of business. She is also responsible for developing and driving claims initiatives and fostering closer relationships between claims, broking, and advisory colleagues.

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