From Ballots to Business: Election-Year Challenges for Insurers

Overview

Whether it’s cybersecurity risks or soaring geopolitical tensions, presidential election seasons in the U.S. don’t just affect the political landscape – they can impact the insurance industry too.

In this episode of Between the Lines, guests will discuss concerns of rising civil unrest during this election year, including growing tensions on college campuses across the U.S. They’ll unpack the increased interest among businesses in standalone coverage options to address strikes, riots, and civil commotion, and how insurers are adapting.

Guests will also discuss the effects of geopolitical conflict on the underwriting process and explore how election years can affect social inflation trends. This is part one of a two part series in which Carrier Management will explore the interconnected nature of political events such as presidential elections and insurance. Tune into this episode for a closer look, and stay tuned for an update closer to the election on October 1!

Topics Discussed  //

• How election years can lead to heightened cybersecurity threats
• Where gaps in traditional coverage options exist for these risks
• What underwriters need to know about navigating election cycles
• Why more businesses are seeking standalone coverage for civil unrest

Featured Guests  //

Host: Elizabeth Blosfield Deputy Editor at Carrier Management –		Tom Lewis Crisis Management Senior Underwriter at Aspen Insurance
Lucy Straker Focus Group Leader U.S., Political Violence & Deadly Weapons Protection, Beazley		Matt Westhoff Head of North American Commercial Property, Beazley

This Episode Sponsored by OneShield

Speaker Bios  //

Tom Lewis
Crisis Management Senior Underwriter for Terrorism, Political Violence & Active Assailant, Aspen Insurance

Tom Lewis is a Crisis Management Senior Underwriter for Aspen Insurance. Based in Aspen’s London office, Tom has more than ten years’ experience in the War, Terrorism and Political Violence insurance market. He joined Aspen in 2013 as Graduate before being promoted to Senior Underwriter in 2021. Before joining Aspen’s Crisis Management team, Tom studied Modern History at Oxford University.

Lucy Straker
Focus Group Leader U.S., Political Violence & Deadly Weapons Protection, Beazley

Lucy Straker is Focus Group Leader U.S. – Political Violence & Deadly Weapons Protection at Beazley and is based in Charleston, SC. Lucy joined Beazley in April 2014 to start up the US Stand Alone Terrorism book. She spent 3 years in New York positioning Beazley as one of the lead markets for US terrorism. In 2017 Lucy returned to London to underwrite within the Political Violence team in Lloyd’s of London. While in the UK she largely focused on the development and growth of the Deadly Weapons Protection book. In April 2022 Lucy moved to Charleston as US Focus Group Leader for Deadly Weapons Protection and Political Violence. She previously worked at Hiscox on the War, Terrorism and Political Violence account heading up the Northeast region of the US as well as working in the London Market.

Matt Westhoff
Head of North American Commercial Property, Beazley

Matt Westhoff is Head of North American Commercial Property at Beazley and is based in New York. He is responsible for all US and Canadian Property business. Matt has decades of experience underwriting US property risks, and he joined Beazley in 2019 as Focus Group Leader of the US large commercial property team. Prior to joining the firm, he held leadership roles with Berkshire Hathaway and AIG/Lex and worked at a number of other leading carriers in the US.

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