Zurich thought leaders spent time in our nation’s capital during April to discuss three key issues: manufacturing, cyber, and surety.” Here’s a summary:
Manufacturing
Manufacturing Segment Lead Cindy Slubowski participated with dozens of manufacturers in a multi-day effort to engage lawmakers and staff about the challenges facing U.S. manufacturing.
“With 3,000 manufacturing customers in the U.S., Zurich can and should stand with them to help their industry compete and prosper, “said Cindy. “Ironically, the workforce challenges we discussed in manufacturing are similar to what we are seeing in the insurance industry. Manufacturers are looking to apprenticeships to fill those skills gaps, and I was able to discuss our pilot apprentice program in many conversations.
Cyber
Specialty Products Head of Professional Liability Catherine Mulligan participated in the Department of Homeland Security’s Cyber Incident Data Analysis Working Group (CIDAWG). The goal is to develop conclusions about the value proposition of a cyber-incident data repository, among other topics.
“Zurich is a global thought leader on cyber, and we have an opportunity to help craft the future insurance market rules of the road,” said Catherine.
Surety
Mary Jean Pethick from the Product Underwriting Surety team visited with key stakeholders and staff on Capitol Hill to discuss surety bonds and the value they bring to taxpayers on large, federally funded projects.
Specifically, Mary Jean advocated to include consistency in bonding for Public Private Partnership (P3) projects included in the Water Resources & Development Act (WRDA) reauthorization.
“The current statute requires surety bonds for federal projects over $150,000 in nature,” said Mary Jean. “P3 financing in the United States is relatively new, but the law is not clear or absent on bonding requirements.”
