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The FORT with Chris Powers

Jul 22, 2020

Chris tackles the complex topic of Insurance as he interviews Michael Moore, an 8th generation Texan and President of Lockton's Fort Worth office. Michael shares a fascinating story about his family's influence in Texas, a break down of the insurance industry in the midst of COVID-19, and Michael's new podcast: The Climb. Enjoy!

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02:00 — Michael’s Family History and Journey to Lockton

15:28 — How did your family get into organic farming and what was it like working with Whole Food’s before they became popular?

17:38 — What is the difference between the Waldorf educational system and a traditional American education?

21:27 — What is the difference between email marketing back in 2001 versus 2020?

22:51 — The Loaded Question: How does the insurance industry work?

24:57 — Why is the American employer encouraged to provide employee benefits vs. an employee signing up on their own as they would with car insurance?

28:10 — How much does the average employee’s age affect the overall insurance rates for the company?

30:01 — Why aren't property and casualty rates going down?

31:02 — What’s a “Hard Market”?

34:12 — How does a "Hard Market" end?

35:40 — Is there anything happening in the industry that can change the direction of these prices such as technology?

40:10 — Is there a 'black swan' within the insurance industry that a court can demand coverage for?

43:14 — Has the pandemic coverage become more solidified in pricing models?

44:05 — Have insurance rates increased because people are more likely to sue someone at the drop of a hat?

48:23 — What does an underwriter's shop look like?

52:50 — Is there one company crunching all the numbers and putting out the risk to carriers & underwriters or is this data collected individually?

53:34 — Grandfathering in Policy Pricing

57:03 — How did you go about building the Lockton brand in Fort Worth?

1:01:57 — How did Lockton react to the initial outbreak?

1:04:15 — Did you receive more early warning signs of COVID than most since Lockton is an international company?

1:04:42 — From a company leader's perspective, what does the rest of the year look like for Lockton?

1:06:40 — Is there something that Texas is doing that gives you hope vs. the challenges others are facing in markets that are hit harder like LA, NYC, etc.?

1:08:52 — What has hosting a podcast been like and what can listeners expect from the show?

The FORT is produced by Straight Up Podcasts