AEGIS News | June 2022
AEGIS again this year met the challenges of the industry and demonstrated that it is a different kind of insurer – one that is built for its members. Our commercial insurance competitors continued to reduce limits or restrict coverage in 2021, especially in excess liability, property and cyber. AEGIS stood ready to fill those gaps, having already built relevant capabilities before the commercial market constriction. We were there for members, providing responsibly priced, stable capacity, just as our founders envisioned.
Members responded to our coverage, capacity and capabilities in record numbers through increased program placements with AEGIS across all our products. As a result, policyholder surplus and gross premiums written reached new highs again this year, continuing a 5-year trend of 8.1 percent and 14.01 percent average annual increases, respectively. Top-line growth, underpinned by prudent underwriting and loss control, strategic capacity increases and responsible expense management, enabled us to grow amounts returned to members through premium credits while managing increased claim severity in certain areas.
We are grateful to you, our members, for continuing to place your trust in us. We have built a stable and strong financial foundation and remain committed to managing your changing and growing set of exposures into the future.
Read more about our 2021 results and what makes AEGIS Built for you in the 2021 Annual Review.
AEGIS Policyholders’ Conference is back in person, July 11-14, in Denver
AEGIS is thrilled to welcome our members, their families and guests in person to Denver for the AEGIS 2022 Policyholders’ Conference, July 11-14.
The theme of this year’s conference is Built for you, highlighting the many ways AEGIS works with its members to anticipate, plan for and manage their changing needs. The AEGIS Policyholders’ Conference promises to be an exciting opportunity to connect with colleagues and AEGIS representatives and catch up on industry trends. Watch for additional conference details, including keynote speaker, panels, receptions and tours planned to take advantage of Denver in the summertime.
AEGIS Loss Control Perspectives
In the latest edition of AEGIS Loss Control Perspectives, we introduce you to Senior Property Loss Control professional Dennis Mason, who created and co-leads the AEGIS Natural Gas Storage, Handling and Processing Working Group. Dennis knows how to bring people together, ask the hard questions and find answers. Click here to read about how the AEGIS Natural Gas Storage, Handling and Processing Working Group became the model for other AEGIS Loss Control working groups, and discover the many important ways AEGIS uses its working groups to support its members.
Changes to the Online Application in MyAEGIS
In March 2022, we implemented changes to the online application and pre-renewal letters. You may notice that placement categories, home state certificates and warranty statements have updated language. If you have any questions, please contact your broker or your AEGIS underwriter.
Save the Date – AEGIS Claims Seminar is back in person, October 24-26, in San Diego
Claims and litigation professionals won’t want to miss this opportunity to gather in person for the first time since 2018 to share experiences and learn more about the important issues facing AEGIS members in the defense of their claims. An impressive group of industry litigators and experts will share their insights on a wide variety of topics, including enforcing indemnity claims, minimizing the potential for nuclear verdicts and mega settlements, mass tort preparedness, smart meter and gas detector issues, defending electric contact claims, the new wildfire landscape, developments in structured settlements and more.
In case you missed these AEGIS webinars
AEGIS Loss Control is proud to host a series of webinars focusing on electric, natural gas, water and renewable operations, as well as on fire protection and generation stations. Risk managers and member company employees who work in safety, engineering and operations roles can attend from the convenience of their homes or offices. Below are descriptions and links to access the latest webinars in our series.
Public Safety Awareness Programs: Measuring Their Impact to Drive Continuous Improvement
This webinar focuses on the entire public safety continuum to help utilities learn how they can use primary research to evaluate and refine existing efforts and increase bottom-line results. Presenters will lay out the arc of work involved with a public safety program, from development and executions to evaluation, which ultimately results in data-driven refinement of the program. The webinar is presented by Wendy Ellyn, Director of Content for Culver Company, and Melissa Wood, Market Research Strategic Consultant for Culver Company and President of Advanta Consulting.
Click here to access the Public Safety Awareness Programs: Measuring Their Impact to Drive Continuous Improvement webinar.
Falling Conductor Protection
Geared toward subject matter experts at electric utilities, this critical safety webinar reviews the risks associated with a falling conductor and the importance of having a system and processes in place for early detection. The Falling Conductor Protection webinar is presented by Christopher Bolton, PE, Manager, System Protection Automation & Control Engineering at SDG&E and an expert in the Distribution Falling Conductor Protection (DFCP) system used to detect and de-energize compromised conductors.
Click here to access the Falling Conductor Protection webinar.
Click here to be alerted to our upcoming webinars or to access all past webinars posted on our website.
Loss Control Focused Services Overview
At AEGIS, our number one priority is helping our members manage risk. Understanding our members’ unique exposures and taking a thoughtful, strategic approach to help them mitigate risks is not only our specialty, it’s our mission. One of the ways we do this is through our Loss Control Focused Services.
AEGIS provides all member companies with 10 days of Loss Control Focused Services per year. That’s exclusive access to AEGIS Loss Control professionals who work with you to design and implement utility-focused safety, training and risk mitigation programs to solve a specific risk issue. They can also customize an existing AEGIS program to fit your needs.
To learn how AEGIS Loss Control Focused Services can benefit your company, please contact one of these Loss Control experts: