Jason Baynard, AVP of Underwriting at NBIS, was recently featured on the Inland Marine Underwriters Association’s (IMUA) podcast, On the Move. IMUA is an invaluable asset to the inland marine industry, providing training and education opportunities through webinars, courses, and seminars. Jason spoke with IMUA Vice President and Secretary Lillian Colson on topics ranging from how he got his start in the insurance field to the landscape of the inland marine insurance world post-COVID. Of particular interest was a recap of Jason’s recent presentation on rigger’s liability, given at IMUA’s 40th Annual Southeast Inland Marine Seminar.
At the start of his conversation with Colson, Jason talked about how his entrepreneurial spirit and enthusiasm for insurance started in his college days when he ran a small business with one of his university peers. One of Jason’s responsibilities was procuring insurance for the business, a role that introduced him to the world of underwriting. After graduation, the business dissolved, but not Jason’s interest in insurance. After cold-calling several companies, he eventually landed the role of Underwriter Assistant at Chubb. During this segment of the podcast, Jason also mentioned David Lee, Chairperson of the IMUA Transport Committee, and the important role he played as a mentor. Having a knowledgeable figure like David to team up with and learn from has been a cornerstone of Jason’s career.
A recurring theme of the conversation was the importance of teamwork and collaboration. Jason spoke of the importance of opening up the world of inland marine insurance to minorities, people of color, and women. The greater the variety of opinions we can bring to the conversation, the more creative our solutions to complex and unique challenges will be. Inland marine underwriting might not be on everyone’s radar when it comes to career growth, and Jason discussed some ideas on how to bring new insurance professionals to the field, such as sharing success stories and focusing on the wide variety of items covered in the inland marine space.
Unsurprisingly, the conversation also touched on COVID-19 and how it has changed the world in general and insurance underwriting specifically. The shift to working from home created its own unique challenges, but one upside Jason emphasized is how the pandemic has reinforced the importance of teamwork and collaboration. He noted that the heavy transport and construction industries didn’t experience a slowdown or pause, since they were labeled as Essential so quickly after the lockdown. Policies still needed to be underwritten. The challenges of the new workspace would have been drastically more difficult without the support of team members and organizations like IMUA. Jason also made sure to acknowledge all the spouses and partners that provide daily support, noting that our collective success depends on these networks.
Jason also touched on his recent presentation on rigger’s liability at IMUA’s 40th Annual Southeast Inland Marine Seminar. As we know, the world of rigging is complex, and there are myriad ways to cover rigger’s liability, such as installation floaters and rigger’s legal liability policies. Jason’s part of the presentation illustrated the various coverage forms, while his collaborators got into the “how-tos” of lifting, such as choosing the right straps and the correct forms of load securement. Jason also spoke of the importance of turning loss scenarios into teachable moments, as well as opportunities to collaborate. Overall, the presentation was a success, thanks to Jason’s enthusiasm and passion for inland marine insurance. Be sure to check out the podcast to hear the full conversation between Jason and Colson. For more from Jason, click here.