How has COVID-19 changed the insurance marketplace and what should employers or individuals be doing to adapt?

Perspective Insurance

How has COVID-19 changed the insurance marketplace and what should employers or individuals be doing to adapt?


Perspective Insurance Andersonbaker

- Sponsors -

W. Anderson Baker III, CPCU, ARM | Area Executive Vice President

“Commercial insurance is in a hard market that happens every 10 to 20 years. Unrelated to COVID-19, the insurance market was already working through increasing rates and less underwriting ‘enthusiasm.’ Underwriters are in the enviable position of being able to choose what they want to write and leave the rest on the scrap heap. The broker’s job is to tell and sell the story of that neglected account in an environment that limits face-to-face connections.”


Perspective Insurance Sebrinahillard

- Partner Content -

Sunni LeBeouf

Black History Month Spotlight This Black History Month, Cox Communications is proud to recognize Sunni LeBeouf for her prolific record of professional achievement, civic philanthropy,...

Sebrina Bush Hillard | President
Insurance Design & Placement, Inc.

“The final effects of COVID-19, as it pertains to the property and casualty part of the insurance marketplace, have yet to be seen. Long term, pending litigation and legislation may change the cost of business income insurance and what is considered property damage, and may create a whole new mechanism for how widespread risks are managed. In the short term, small businesses should be working closely with brokers to think through key pressure points and ensure exposures are sufficiently insured, as well as look at ways beyond insurance to mitigate that risk. COVID-19 has really highlighted the need for the insurance industry to be proactive to marketplace changes and to provide solutions prior to issues reaching critical mass.”


Perspective Insurance Marktullis

- Sponsors -

Mark Tullis | Administrator
LCI Workers’ Comp

“As far as workers’ compensation is concerned, if an employer is operating a business that has any predictable risk of significant virus exposure, such as healthcare, then the workers’ comp carrier may want to verify that the business is following all recommended guidelines regarding operating safely. This normally would be accomplished through engagement between the business and the workers’ comp company’s loss control or risk management department. The best way for a business to adapt is to educate itself on what the guidelines require and keep up-to-date on them as the guidelines can, and do, change.”


Perspective Insurance Willsmith

Will Smith | Employee Health and Benefits Advisor
Marsh McLennan

“On the employee benefits side, a recent Marsh McLennan survey showed dramatically increasing focus on employee well-being programs. Many existing and new employee assistance programs are designed to provide emotional support for employees, which is increasingly important during COVID-19… With respect to costs, for some months now we’ve seen cost decreases due to layoffs and reduced utilization of procedures. However, we are projecting an increase in claims spending on group plans due to an increase in inpatient COVID-19 testing and utilization, which will likely occur later in the year and into 2021. How this effects renewals over the next year is yet to be determined.”


Perspective Insurance Jmichaelconerly

J. Michael Conerly, M.D., FACS, MBA | President/CEO

“LAMMICO provides professional liability insurance to medical providers, hospitals and facilities throughout Louisiana and Arkansas, as well as other states… As we recover, most of our providers have returned to the new ‘normal’ and are busy with their full-time practice. The pandemic has reinforced the importance of healthcare professionals in our society and their need to be vigilant about the financial strength and stability of their medical professional liability insurance company. A sound company can help ensure their coverage needs continue to be met in times of uncertainty.”


Perspective Insurance Briankeller

Brian Keller | Senior Vice President and Chief Marketing Officer
Blue Cross and Blue Shield of Louisiana

“Employers are now thinking about how to return their employees to the workplace while keeping them safe and healthy. To help, Blue Cross developed an Employer Toolkit with input from our medical directors that gives suggestions and guidelines for employers. The toolkit is available at … For those individuals searching for health insurance, our advice is not to panic. Louisiana has never had a better health insurance safety net than it has right now.”



Digital Sponsors / Become a Sponsor

Follow the issues, companies and people that matter most to business in New Orleans.

Email Newsletter

Sign up for our email newsletter