NAME: Joe Higgins
NEW JOB TITLE: Newark, New Jersey-based underwriting director, IAT Insurance Group
PREVIOUS POSITION: Morristown, New Jersey-based account executive officer, Travelers Cos. Inc.
INDUSTRY OUTLOOK: In management liability, there is still the evolving risk around cyberattacks and data breaches. COVID-19 still has an effect in the marketplace regarding EPL and D&O due to reductions in staff, possible vaccine mandates, and supply-chain shortages or financial distress. Overall, however, there still looks to be significant opportunities to grow. I believe the recent environment has helped business owners realize the value ML coverages offer, especially EPL/D&O/cyber and how necessary it is to have them in place. There is also an increase in first-time buyers who previously thought ML coverages werent as necessary or cost-effective.
GOALS FOR NEW POSITION: Im excited to join the newly formed management liability team. My goal is to help build a successful/profitable group. This is a new area for IAT, with significant opportunity, and Im looking forward to what the team and I can do.
CHALLENGES FACING THE INDUSTRY: In general, the growing threat of cyberattacks continues to be a challenge. For my new position, a challenge for us is to write smart and profitable business and minimize large payout claims.
FIRST EXPERIENCE IN THE INDUSTRY JOB MARKET: Personal lines PIP claims for New Jersey.
ADVICE: Be open and willing to adapt. Since I started in this field, things continuously change, including strategies, methods, technology, trends and market conditions. Find what works best for you. Learn different ways from co-workers and pick the style that works best for you.
OUTSIDE THE INDUSTRY, A DREAM JOB: Getting paid to travel around the world and write reviews.
COLLEGE MAJOR: Business management
LOOKING FORWARD TO: Meeting and working with new brokers as well as continuing to improve prior relationships. Im also looking forward to navigating the current work environment and fostering growth and success.
FAVOURITE MEAL: I love a good steak, filet mignon
BOOK: I recently started reading Game of Thrones.
HOBBIES: Hiking, traveling and spending time with my son/family
TV SHOW: I find myself watching The Office when I get a chance.
ON A SATURDAY AFTERNOON: Spend time with my 4-year-old son whether it’s going to a park, playing in the backyard or just running after him.
