General Counsel Up-at-Night Report on the Insurance Sector
ALM Intelligence and Husch Blackwell reveal survey results
New York, NY – December 3, 2019 – ALM Intelligence and Husch Blackwell announced the results of their survey of in-house counsel in the insurance sector. The survey is part of ALM Intelligence’s ongoing research initiative examining the primary issues that keep law department leaders up at night.
“Our partnership with Husch Blackwell and, in particular, the subject matter expertise of its Insurance group were critical to the success of this study,” said Steve Kovalan, Director of Research, ALM Legal Intelligence. “By focusing entirely on the insurance sector, we were able to deepen our understanding of both the unique and common challenges faced by in-house counsel in the industry.”
Key findings of the report include:
- Roughly seven out of 10 respondents reported that their legal departments need at least some outside help to properly manage issues related to data security and privacy.
- The complexity and range of new regulations across multiple jurisdictions make maintaining compliance complicated and costly.
- Nearly 70% of respondents expressed at least some interest in the regulatory changes brought about by the legalization of marijuana.
“The challenges brought about by changes in the law and emerging technologies are key themes we encountered in putting together the report,” said Scott Davis, the head of Husch Blackwell’s Insurance practice. “New state-level data privacy legislation, such as the California Consumer Protection Act, will continue to force insurers to re-evaluate the way they handle and use data, and of course, the cannabis industry is creating opportunities that come with a fairly unique set of risks.”
The survey was conducted in early 2019 and collected 72 responses from in-house counsel in every segment of the insurance sector including health, property, liability and auto, life and annuity products, cyber, environmental and marine as well as surplus lines and run-off portfolios.
To download the free report, visit: http://at.alm.com/UANInsuranceSector
About ALM Intelligence
ALM Intelligence, a division of ALM Media LLC, supports legal, consulting, and benefits decision-makers seeking guidance on critical business challenges. Our proprietary market reports and analysis, rating guides, prospecting tools, surveys, and rankings, inform and empower business leaders to meet business challenges with confidence. Please visit www.alm.com/intelligence for more information.
About Husch Blackwell
Husch Blackwell leads our clients from where they are to where they want to be. From offices in 18 U.S. cities, we deliver legal insight and business leadership that help our clients identify smart solutions, advance their goals and move forward. Please visit www.huschblackwell.com for more information.
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