The Future of Insurance – David Corry, Head of Casualty, Argo Group

Episode Info

David Corry joined Argo Group in September 2020. As Head of Casualty, he is responsible for leading Primary Casualty, Excess Casualty, Construction, Environmental, Rockwood, and Bermuda Casualty.  Corry previously served as Senior Vice President, Head of Environmental at Argo Group. He has in-depth experience in all lines of casualty insurance, having served as Senior Director at Markel Specialty and Vice President at Liberty Mutual. He also held senior positions at Chubb and Crum & Forster. Corry is a veteran of the armed forces, having served for 29 years in the Air National Guard, retiring with the rank of Lieutenant Colonel. 

Highlights from the Show

The video features a discussion with David, who has over 35 years of experience in the insurance industry, focusing on casualty underwriting and management. He currently serves as the Head of Casualty at Argo Group, where he oversees various liability lines, including primary and excess casualty, environmental liabilities, construction liabilities, and workers' compensation. The conversation highlights Argo's niche focus on the U.S. market, with some operations in Bermuda, and its recent acquisition by Brookfield Wealth Solutions.

David shares insights into the challenges faced by the Casualty insurance sector, such as social inflation, litigiousness in the U.S., and the economic viability of Casualty lines. He discusses the importance of capacity management and the need for insurance carriers to be nimble in managing their portfolios. The conversation also touches on the impact of distracted driving on auto insurance claims and the necessity for the industry to adapt to changing conditions.

The video concludes with a discussion on the future of the insurance industry, emphasizing the need for innovation and the importance of attracting new talent to sustain the industry. David expresses optimism about the industry's ability to adapt and continue providing necessary coverage despite current challenges.

Key Points:

1. Challenges in Casualty Insurance:

   • Social inflation and increased litigiousness in the U.S.

   • Economic viability of casualty lines.

   • Importance of capacity management and nimbleness in portfolio management.

2. Impact of Distracted Driving:

   • Significant effect on auto insurance claims.

   • Necessity for the industry to adapt to changing conditions.

3. Future of the Insurance Industry:

   • Need for innovation and attracting new talent.

   • Optimism about the industry's ability to adapt and provide necessary coverage despite challenges.

This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk.

Follow the podcast at future-of-insurance.com/podcast for more details and other episodes.

Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.