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Special Reports Pandemic Risk Management Page 27 Workers Comp Page 31 Property Insurance Page 35 VACCINE MANDATES: Employers consider compulsory COVID-19 shots - PAGE 4 JUNE 2021 SPECIAL REPORTS PANDEMIC RISK MANAGEMENT PAGE 27 WORKERS COMP PAGE 31 PROPERTY INSURANCE PAGE 35 FUTURE LEADERS INTERVIEWS WITH ALL 40 AWARD WINNERS OF 2021 PAGE 14 PrintAds_V2-new.pdf 1 5/20/21 5:45 PM Transform How You Manage Your Data, People, And Processes In One Comprehensive Risk Management Platform. C M Y CM MY CY CMY K The Aclaimant Platform Is The Future Of Risk Management. LEARN MORE AT WWW.ACLAIMANT.COM Ad Template.indd 3 5/21/21 7:48 AM PRESIDENT Steve Acunto (Greenwich) [email protected] PUBLISHER Keith Kenner (Chicago) [email protected] COVER STORY EDITOR Business Insurance profiles Gavin Souter (Chicago) the winners of its 2021 [email protected] Break Out Awards, which DEPUTY EDITOR honor potential future leaders Claire Wilkinson in the U.S. insurance industry. (New York) [email protected] The 40 honorees from across the country represent some of ASSISTANT EDITOR Louise Esola the most promising individuals (New Orleans) working in insurance and risk [email protected] management. PAGE 14 SENIOR REPORTER Judy Greenwald (San Jose) [email protected] REPORTER Angela Childers INSIDE (Chicago) [email protected] REPORTER Matthew Lerner SPECIAL REPORT: PANDEMIC RISK MANAGEMENT (New York) [email protected] In response to high-profile event cancellations due to the pandemic, contingency insurers have cut capacity and raised rates. Meanwhile, the hard-hit restaurant sector COPY CHIEF John Obrecht has adopted new ways of doing business, creating new exposures. PAGE 27 (Chicago) [email protected] COPY EDITOR Brian Gaynor SPECIAL REPORT: WORKERS COMPENSATION (Portland) [email protected] Employers and insurers increasingly are realizing that physical injuries often include a mental component that can lead to prolonged claims and higher costs; early ART DIRECTOR Jeremy Werling intervention and treatment are key. PAGE 31 (Cincinnati) [email protected] DIRECTOR OF RESEARCH, NEWS ANALYSIS WORKERS COMP PLANNING AND INSIGHTS More employers are considering mandating COVID-19 Andy Toh (Chicago) FOR BREAKING NEWS vaccinations for returning workers. PAGE 4 [email protected] COVERAGE, VISIT MAJOR ACCOUNTS DIRECTOR - businessinsurance.com RISK MANAGEMENT NORTHEASTERN U.S. & INTERNATIONAL Ron Kolgraf Non-fungible tokens pose unique risk management (Boston) questions for art dealers. PAGE 6 [email protected] SENIOR VICE PRESIDENT, INTERNATIONAL BUSINESS DEVELOPMENT PERSPECTIVES Stephen Acunto Uruguay’s state insurance company dominates the nonlife Artificial intelligence has (Princeton) market, requiring innovation from competitors that want [email protected] made identifying and to boost their market share. PAGE 11 HEAD OF SALES, EVENTS preventing ergonomic risks & REPRINT SALES MANAGER much easier, write Timothy Susan Stilwill (Nashville) Lohrmann and Marcus [email protected] Fichtel of Chubb Global VICE PRESIDENT OF MARKETING Risk Advisors. PAGE 39 VIEW FROM Brian McGann (Buffalo) OFF BEAT THE TOP [email protected] Some doctors are DIGITAL AD OPERATIONS MANAGER LEGAL BRIEFS having a cow over Jordan Kilty the USDA’s latest MITCH BLASER (Raleigh) Recent court opinions PAGE 12 [email protected] recommended daily Mitch Blaser founded DIGITAL MARKETING MANAGER OPINIONS allowance of dairy private equity-backed Jen Jonasson Vaccine promotion strategies; insights products. PAGE 42 Mosaic Insurance (Chicago) [email protected] from award winners. PAGE 38 Holdings Inc. in Bermuda in February to focus on MARKETING & EVENTS MANAGER Brittany Collins MARKET PULSE specialty risks. His long (Lafayette) Products, deals and more PAGE 40 career has included nearly [email protected] 30 years at Marsh & McLennan Cos. Inc. Mr. Blaser, who MARKETING & EVENTS SPECIALIST Beth Wojdyla PEOPLE also worked at Swiss Re Ltd. and Ironshore Inc., discusses (Chicago) Insurance industry moves PAGE 41 the strategy behind Mosaic. PAGE 13 [email protected] SUBSCRIPTIONS & SINGLE COPY SALES BUSINESS INSURANCE (ISSN 0007-6864) Vol. 55, No. 7, Copyright © 2021 by Business Insurance Holdings, Inc. is published monthly by Business Insurance Holdings, Inc., 1030 Lake Avenue, [email protected] Greenwich, CT 06831. Accounting, business, circulation and editorial offices: PO Box 1010, Greenwich, CT 06836. Call 954-449-0736 to subscribe. Periodicals postage is paid at Greenwich, CT. 954-449-0736 Printed in the USA. POSTMASTER: Send address changes to Business Insurance at PO Box 1010, Greenwich, CT 06836. BUSINESS INSURANCE JUNE 2021 3 NEWS ANALYSIS PROTECTION PROTOCOLS Nine out of 10 employers in the U.S. and United Employers lean toward mandatory shots Kingdom plan to require or strongly BY ANGELA CHILDERS encourage workers [email protected] to be vaccinated for COVID-19, according to a he demand for COVID-19 vaccines has survey conducted declined, and with only about 40% of the in March by Arizona T U.S. population fully inoculated as of late State University’s College of Health last month, employers are taking another look at Solutions and funded whether to mandate workers get vaccinated. by The Rockefeller But such mandates can leave employers on the Foundation. hook for lost workdays and injuries stemming Researchers polled from vaccine reactions and create additional com- nearly 1,400 munications, tracking and recording challenges. employers — 71% As of late May, 49% of 18- to 65-year-old indi- of which were U.S.-based, with viduals in the U.S. were fully vaccinated — far less the remaining 24% than the 70% needed to achieve herd immunity, based in the U.K. according to the U.S. Centers for Disease Control — reporting that: and Prevention. “A lot of employers thought, as soon as (vaccines) vaccination rates. … After much deliberation, and not significant,” she said. “If there is a sig- became available, that people were going to jump MUSC Health has decided to make it an expec- nificant reaction, it’s likely to be work-related. in and get them,” said Michele Tucker, Sacramento, tation that all care team members be vaccinated It’s certainly not worse than a COVID claim at 90% California-based vice president of enterprise oper- against COVID-19.” this point.” will require or ations at third-party administrator CorVel Corp. Many employers had been wary of forcing vac- Employers who opted for a mandatory vaccine encourage COVID-19 “They’re feeling somewhat compelled to move cinations, given the potential for side effects and policy previously needed to worry about record- vaccination. toward mandatory requirement of the vaccine.” that the U.S. Food and Drug Administration ing any serious adverse reactions on their Occu- After first leaving the decision up to employees has approved the vaccines only on an emergency pational Safety and Health Administration logs. and offering an incentive, the Houston Methodist use basis. However, the agency switched gears in late May, hospital system recently said it would require its However, some countries are implementing vac- declaring on its questions and answers section that 59% will incentivize 26,000 employees to be vaccinated for COVID-19 cination mandates for health care workers. On it “does not wish to disincentivize employers’ vac- employees to be or be subject to suspension and/or termination. April 1, Italy approved an emergency decree that cination efforts” and would not enforce recording vaccinated. The Medical University of South Carolina imple- all health professionals must be vaccinated for the requirements related to worker side effects from mented a similar mandate. coronavirus. Those who refused had the option to COVID-19 vaccinations through May 2022. “I have spoken to countless hospital leaders across be transferred to non-patient-facing duties or be The change, “might encourage an employer to the country who plan to mandate COVID-19 suspended without pay for up to a year, according go mandatory because that’s one less downside 60% vaccination soon,” said Dr. Marc Boom, Houston to the British Medical Journal. they would have to worry about,” said Brent Clark, will require proof Methodist’s president and CEO, in an email to all “Health care and front-line employers have been partner in the Chicago office of Seyfarth Shaw of vaccination employees dated April 23 that was forwarded by “a little bit more aggressive” with their vaccine LLP. “But I tend to think it wasn’t recordability from employees. a spokeswoman to Business Insurance. Dr. Boom efforts, finding “much more of a need for man- that is causing hesitancy (in mandating vaccines). also said he expects nearby Memorial Hermann dating or strongly encouraging” vaccinations, said It more is a function of the employer’s desire to Health System and Baylor College of Medicine to Adam Kemper, Fort Lauderdale, Florida-based give the employees choice.” issue their own coronavirus vaccination mandates. partner with law firm Kelley Kronenberg P.A. Regardless of whether an employer mandates 84% A former registered nurse at Houston Methodist Ms. Tucker, who works with a number of hos- or merely encourages vaccinations, it’s crucial would allow recently went public with her decision to leave her pital systems and medical centers in the U.S., has to communicate with employees, said Kathryn COVID-19 vaccinations to be job rather
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