PRMA Summit Tackles Hard Market, Advises Consumers on Industry Trends; Focuses on Strategies, Solutions and Success

With a hard market, supply chain shortages and a struggling economy, the insurance industry faces significant challenges. Educating risk management professionals on how to best advise clients about rising premiums, construction costs, retaining insurance coverage and increased liability exposures is the focus of this year's Private Risk Management Association (PRMA) Summit. The three-day conference takes place Oct. 26-28, 2022, at the Loews Chicago O'Hare Hotel in Rosemont, Illinois. The event features 45 speakers delivering 21 powerful informational sessions. The Summit is expected to attract more than 300 high-net-worth insurance specialists nationwide.

Summit topics focus on navigating a complex industry environment and strategies for best advising clients. Participants can choose from numerous educational sessions and discussions to further their knowledge of industry trends. "This year, our industry has grappled with the challenges of a hard insurance market and trying to get or retain coverage for clients, especially in catastrophe-prone areas," said Diane Delaney, executive director of PRMA. "In this year's Summit, we are bringing thought leaders together to discuss how we can be more proactive risk managers despite facing these new hurdles," added Delaney.

Collaborative sessions include an in-depth look at the sharing economy, which examines the pros and cons of this growing trend and how the industry can confidently educate and guide clients now and into the future. Six Roundtable discussions will bring industry leaders together for idea sharing and ways to preemptively address the current and future workforce needs. The Summit provides many networking opportunities. Market Town Halls will be hosted by AIG, Chubb, Cincinnati Insurance Companies, Hanover Insurance Group, Nationwide Private Client, Vault and PURE Insurance. 

"Our objective is that participants walk away feeling empowered to address the most pressing industry issues," said Bryant Kolle, president-elect of the PRMA Board of Trustees"There will be multiple opportunities for attendees to learn and make connections, both of which will help them serve their clients better," added Kolle.

A Summit highlight is the keynote speaker, Paul Epstein. The bestselling author and host of the Playmakers: ON PURPOSE podcast aims to inspire attendees to turn adversity into advantages and share secrets on maximizing positivity, happiness and fulfillment in any environment. 

To wrap up the event, PRMA will team up with the Insurance Industry Charitable Foundation and Operation Gratitude, a nationwide nonprofit dedicated to providing people across the country with opportunities for hands-on volunteerism. Summit attendees can write a meaningful letter to military, veterans and first responders, thanking all who serve this nation. 

PRMA thanks high-level Summit sponsors for their contributions to ensuring the event's success. These sponsors include AIG, Chubb, Go Rentals, PURE Insurance, Cincinnati Insurance Companies, AmWins, Vault, Hagerty, Castle High Value Surveys, Exotic Car Collection by Enterprise, Leak Defense System, Nationwide Private Client, Restoration Affiliates, Asset Verification, Inc., Burns & Wilcox, The Hanover Insurance Group, New Level Partners, NFP and Ryan Turner Specialty.

Register today for the 2022 PRMA Summit at Last-minute registration fees begin October 5. All Summit registration concludes October 14.

About PRMA
The Private Risk Management Association is a member-owned independent nonprofit founded by leaders in the private risk management and insurance industry. PRMA's mission is to improve the advice, coverage and service provided to the high-net-worth insurance consumer through education and increased awareness. PRMA offers specialized education and information and establishes standards and credentials while raising awareness and advocating for the niche and consumers served.

Source: Private Risk Management Association