Tara Mitchell and Norma Essary are from the Surplus Lines Stamping Office of Texas (SLTX), a company whose job is to provide all our partners with meaningful data, analysis, and educational resources to empower those decisions while also facilitating compliance. Norma is the CEO and her duties involve overseeing the whole organization, making sure everything runs smoothly and according to compliance. Tara is the CIO and while her tenure is still short, her experience working for the Department of Insurance has enabled her to contribute to the company’s technology innovations.
In this episode, Norma and Tara discuss the possible ramifications of extreme weather conditions on insurance policies. They also provide insight on what the insurance industry could do to help those who suffered huge losses during the recent barrage of hurricanes that hit the U.S. this year as well as what our politicians should look into when it comes to natural disaster recovery.
What you’ll learn:
- What is the paradigm shift that’s going to be emerging in the near future?
- The importance of utilizing the internet and social media in times of disaster.
- Drone technology benefits when it comes to extreme weather events.
- The biggest gaps when it comes to natural disasters.
- Norma’s insights on mitigations during extreme weather events.
- How did Hurricane Harvey affect the Texas Surplus Lines market?
- The value of Texas Premium Statewide for all insurance and surplus lines markets.
- What our political leaders need to know.
- What do people think about when they hear the term “surplus lines”? What is it, really?
- Have current depopulation efforts helped the recent hurricane events?
- Possible solutions that could arise from the recent hurricanes.
- We’re probably at a place where it will make sense what the difference really is from an admitted versus a non-admitted insurance policy, and the value it brings to the consumer.