The Property & Liability Resource Bureau (PLRB) hosted the 2nd of its 2016 conferences at The Marriott downtown Chicago. It is typically attended by insurers, adjusters, lawyers and other service suppliers to the insurance industry. Like similar conferences, it provides a platform for maintaining news in the industry, further education and networking opportunities.
This year’s event was punctuated by the threat of Hurricane Matthew and provoked much discussion amongst many of the delegates. Some had real concerns about their ability to get home. We are still making inquiries about the real impact. UK insurers of North American clients are reporting an upturn in work. Loss-making events of this magnitude have been overdue for a number of years but, while full the loss estimate for Hurricane Matthew is not yet known, we have made ourselves available to support insurance clients through the adjustment process. In the meantime, development of market intelligence is continuing.
We have received a lot of positive feedback from clients that have expressed their support for the Thornton Tomasetti team. Current market conditions have caused many changes of staff within the industry and there was inevitably a lot of conversation around how some of these affect the delegates and their respective firms. In some cases, the downturn in the volume of claims generally has dissipated teams of service providers. While some might suggest that this has to be offset by the fact that some confidence has been restored by a recent onset of small mergers and inquisitions. This will most likely continue well into the coming year.