Why are my insurance rates continuing to climb?

Join CFMA for lunch as Kari Ogden, Executive Vice President with RT Specialty discusses the following factors within the insurance industry & the “hard” insurance market we are facing.

-          Factors of the “hard” insurance market

            o   Claim Severity/Nuclear Verdicts/Social Inflation

            o   Uncertainly around rising inflation

            o   Reinsurance/treaty Issues

            o   Judged by peers vs individual merit

Kari Ogden, Executive Vice President with RT Specialty

Kari Ogden’s career started at the age of 19 with a full-time position as receptionist at Constitution Reinsurance Corporation in downtown Los Angeles. After a short term of employment, Constitution Re was purchased and relocated to New York. By that time, Kari had advanced into a junior underwriting position and found herself interested in pursuing a career in insurance.

She sought another position in the industry and was hired at Anderson & Anderson as an underwriting assistant for an in-house program with TIG. Anderson & Anderson was purchased by AON, and Kari relocated to their Orange County office.

The TIG program came to a close and she took a position at Worldwide Facilities, again in Los Angeles.

While working full-time, Kari obtained her bachelor’s degree (graduating from the University of Southern California as a member of the National Honor Society). Shortly thereafter, she was recruited by A.J. Renner (which later became Sterling West Insurance Services prior to being acquired by CRC Insurance Services) where she maintained several underwriting pens and was solely responsible for an exclusive facility for subcontractors. In addition to managing the MGA facility, she was a true wholesale broker with a significant book of business.

In May 2010, Kari was recruited by RT Specialty to serve as Executive Vice President.

Kari’s expertise in difficult placements (including construction risks and products/manufacturers) has earned her the reputation of being a go-to Casualty broker in the industry. Kari has assisted in the development of proprietary policy forms and endorsements, coverage carve-outs and specialty terms. Kari played a key role in the development of an exclusive policy form for Meritage Homes’ subcontractors; released as one of few viable products in the marketplace at its time.

Kari is a member of the National Association of Professional Women and was named “Professional Woman of the Year” for 2010-2011. Kari also holds CISC and CRIS designations.