A.M. BestTV: New Risks Include Driverless Cars, Drones, Active Shooters, Says Endurance Global Risks Solutions CEO

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FOR IMMEDIATE RELEASE

OLDWICK - DECEMBER 05, 2016 11:29 AM (EST)
In this ^A.M.BestTV episode, Michael Chang, chief executive officer, Endurance Global Risk Solutions (Endurance), said risk coverage opportunities are emerging in real estate, including covering larger retail centers against violence. Click on http://www.ambest.com/v.asp?v=chang1216 to view the entire program.

Chang explains the purpose of this Endurance unit, which was started in February 2016.

“Endurance believes there is significant premium potential in real estate, hospitality, financial institutions and professional services,” said Chang. “We did a lot of research on the ability to cross-sell multiple products to an individual customer; thus, at the end of the day, it is really hard to dislodge a carrier when it can provide both products and services.”

However, Chang acknowledges that this new business does have its challenges.

“I think the real challenges for us are that there are a lot of competitors out there that want to be in this space. I think the way that we have offset it was by the differentiation on industry specialization,” said Chang.

He continued that, “all the other carriers out there are more generalist in nature whereas our underwriters really understand the risk that they take on.”

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^A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html . View ^A.M.BestTV episodes at http://www.ambest.tv.

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