Articles by Patrick Wraight

Patrick Wraight, CIC, CRM, AU, is director of Insurance Journal's Academy of Insurance. He can be reached at pwraight@ijacademy.com.

The Risks of Amusement Parks Insuring the Happiest Places on Earth

The website Statista estimates that amusement parks in the United States grossed about $19.75 billion in 2021. That’s a lot of roller coaster, water slide, bumper cars (if that’s still a thing) and over-priced food. It would be fair to …

180 Days: Not a Reporting Deadline

Departments of Insurance exist, in part, to protect consumers from improper actions by insurance carriers. One of these actions is improper claims handling. A recent case in point involves a homeowners’ claim and the supposed late reporting of hail damage. …

I Don’t Blame Vyrd. I Blame the System.

I had planned to write and try and answer the question, how can Demotech give a brand-new company (Florida newcomer, Vyrd Insurance) an A rating before they even write a single policy. As I looked into the rating process (which …

A Personal Claim Story – Part 2

In what feels like a Neverending Story (cue the music), we are still dealing with that open property claim that you might have read about in this classic, A Personal Claim Story – Part 1. You’ve probably already guessed it, …

6 Answers to the Problem of Old Buildings

So far since the Champlain Tower collapse in July 2021, two other condominium buildings have been inspected, failed, and evacuated (Crestview Towers and Bayview 60) in Miami, Florida. In the meantime, the Florida legislature failed to take definitive action to …

That’s A Hard No

That’s a hard no. I like that phrase. Simple. Direct. Expresses exactly what I mean. Sometimes it’s just no. No negotiation. No compromise. Just no. Am I interested in someone buying my business? Especially since I don’t own it. Especially …

On the Water: Boats & Risk

People who like the water like boats. This might be a gross misuse and the mariners among us might get offended by it, but I’m going to use the term boat to refer to any kind of watercraft that an …

A Personal Claim Story – Part 1

I’ve been thinking about writing this and kind of going back and forth about how to do it or whether to do it. Since I can’t be wishy-washy all day, I have decided to go ahead and write about what’s …

3 Keys to Avoiding Employment Practices Issues Related to COVID

Last week, the Academy of Insurance hosted a class on the EPLI (Employment Practices Liability Insurance) implications of employers’ policies related to COVID-19. The COVID-19 pandemic response around the world included a rapid change from working in an office environment …

Yes and no

Yes and no. I’ve been saying yes to some new things lately. That means that I had to say no to some other things, which is ok. Every yes brings a no with it. That’s a good thing to remember …