Mark Flippen's Linkedin Analytics

a far cry from eye black and the locker rooms I’d imagined… (a girl dad in the modern era) God has an ironic sense of humor. And life? Unhittable curveballs. Especially for the boy who played every sport but ice hockey growing up! Lucy, my oldest, just made the varsity competitive cheer team. Layla, my youngest, is thriving in theater with the performing arts group. Proud is an understatement. Meanwhile. For reasons I’m still sorting out. I’ve spent the past year deep in old ball coach wisdom, reading books by Wooden, Krzyzewski, Jackson, and Walsh… Obsessing over how they led. How they built discipline. How they shaped lives. Lately, I’ve been trying to square those worlds. Failing would be generous. It usually lands with eye rolls. And: “That’s SO embarrassing, Dad.” The high-performance mindset I live in… …with the very different stages my daughters are shining on. Truth is, I haven’t figured it out. How to lead them the way I want to. How to soften the coaching. How to just be there. But I’m learning. And I wouldn’t trade it for anything. Because in this season of life, I’ve come to realize… The scoreboard doesn’t matter. Showing up does.

Over the last 12 months, we've had a 92% team retention rate and a 30% increase in project delivery speed. These 10 core values took us there: 1. Evolutive Odyssey Expertise gets stale fast in insurance. We're constantly evolving our skills and frameworks to stay ahead of market shifts. Standing still isn't an option when we're protecting clients' futures. 2. Empathetic Echo We listen deeply before we speak. Sounds simple, but it's rare in this industry. By truly understanding what keeps our clients up at night, we deliver solutions built on real trust, not transactions. 3. Mastery Architects Our work is grounded in technical excellence. When we design coverage, it's built from first principles, not templates. There's a reason we catch what others miss: we study what others skim. We don't guess, we know. 4. Exist to Execute Great ideas collect dust without execution. We deliver consistently at a standard few can match, turning “strategy” into tangible results for our clients. 5. Collaborative Alchemy We don’t subscribe to the Lone Wolf myth. Our breakthroughs happen through partnership, where we fuse the technical & creative. 6. Proactive Positivity We solve problems before they surface, not after they explode. And we do it without burnout. Because wellbeing & excellence = the highest performance. 7. Veracious Service Radical transparency is our standard. We speak plainly, deliver truth & simplify complexity without diluting substance. Our clients never wonder where they stand. 8. Foundation First We are all for innovation. But before we do it, we master the fundamentals. Innovation built on bedrock (not sand) is what creates lasting value for our clients. 9. Crucible Forged Our edge was created under pressure: In boardrooms, global markets, tight timelines & high stakes. These experiences shaped how we deliver when it matters most. 10. Elevated Ensemble Last but not least: We don't have time for ego. When you work with us, you don't just get one expert. You get an entire team where excellence is collective and success is shared. ~ ​​Thanks for reading! I’m Mark Flippen After 25+ years brokering insurance for the world’s top financial institutions, we’re now bringing that same platform to underserved firms who deserve it too. Want the same elite protection that Fortune institutions enjoy? Join 5K+ financial leaders who rely on our weekly newsletter to stay ahead of the competition: https://lnkd.in/e8qkpZkY LION Specialty. The leader in institutional insurance.

wanna grow on LinkedIn without being sold to? Financial services & insurance industry execs, this might be for you… Posting on LinkedIn is a slog. I’ve been building here for over a year now. What I haven’t found? A community built just for financial services executives. CEOs, CFOs, GCs, & senior execs… Who want to grow their presence here —without being sold to. Without wasting time. Without posts that land flat. So…we’re creating one. “The Financial Services LinkedIn Circle” A private WhatsApp group for executives who: → Post consistently or want to post more → Want to build a trusted audience beyond their network → Want peer-level input from others who get this world → Want their message to be supported It’ll be free. It’ll be curated. It’ll be designed for our space. Insurance, MGAs, PE, Insurtech, Fintech, and financial institutions. Thoughts on this idea? Join me in the comments… We’ll cap the first wave at 25 people to keep it high-trust and signal-rich. Drop “LINK” in the comments to join the waitlist. Or DM me. Depending on traction, we’ll launch it soon. Let’s grow together. Mark Flippen

the week’s most interesting insurance headlines in 71 seconds… ( other than Insurtech Hartford! ) - The National Association of Insurance Commissioners top priorities - The question every buyer should be asking their underwriters - And, the most important AI crime fighting tool impacting the global insurance markets… In this week’s LION Specialty newsletter! Did I miss anything? Join me in the comments. 👇🏻 Not into insurance news? What are you doing this weekend?

What’s the one early career move you made that paid off in ways you never expected? I got this question last week. On a Zoom coffee chat with a young pro. My answer? Moving to NYC. But how I got there? Still one of the hardest things I’ve ever done in my career. I remember how badly I wanted it in 2003/2004. Breaking into the NYC market felt impossible. But I leveraged the one contact I had… And by 2005, I was there. Still today, I believe, NYC is the major leagues of insurance. It’s where the top people are. Even if they don’t live there, they’re there. I know my friends in Atlanta, Dallas, Chicago, KC, San Fran, Miami, and even the DEN…will argue for their cities. I hear y’all. But New York gives young professionals a foundation like nowhere else in the U.S., full stop. That’s why I do these calls every week. To help however I can. Advice. Connections, sometimes. I could see the gears turning in this young guy’s mind. How would you have answered? P.S. For the young pros… I dropped five tactical tips I gave him in the carousel. P.S.S. If this resonates…you might be a LION. 🦁 DM me. Let’s chat.

Healthcare plans are the next fiduciary battleground. And JP Morgan just got dragged into court to prove it. If you’re a financial institution executive, the new ERISA litigation trend should be on your radar. A lawsuit just hit JP Morgan Chase, this time over healthcare benefits, not retirement plans. The message? Benefit plan oversight is no longer just about 401(k)s. Our newsletter breaks it down this week… Along with the surge in API vulnerabilities and automated bot traffic now testing FI networks across the board. We cover what happened, why it matters, and how we’re advising our clients… _______ New here? Every Friday, my team at LION Specialty delivers a no-fluff, 5-minute scan of the global insurance markets—built for CFOs, GCs, and executive decision-makers. We review 200+ sources. We break down the top 3 events shaping boardroom risk. From major claims to pricing shifts and legal fallout, we give you clarity, so you can stress-test your coverage before it’s tested for you. Trusted by 5K+ financial leaders. Backed by 25+ years of institutional risk insight. 🦁 Subscribe now or drop “newsletter” for the latest edition.

“Buying insurance from a generalist is like leasing a fleet of BMWs just to deliver the office mail.” (quote from a new CFO client) Looks nice. Impresses the board. But wildly inefficient for the job it’s supposed to do. A few weeks ago, I reviewed their D&O program and asked: “Why this structure?” Their answer? “It’s just what our last broker always did.” No one had ever mapped coverage to their actual enterprise risk profile. No one had challenged the limits. Or optimized the layers. And aligned the structure with their balance sheet sensitivity. They weren’t underinsured. They were overpaying for misaligned protection. When we ran the re-design, we saved 32%. The real win wasn’t the premium, though. It was the conviction behind the spend. CFOs live and breathe capital efficiency. Yet insurance is often the least examined line item. Until a claim hits. Or the deal hits diligence. Or the board starts asking the hard questions. Insurance should move like the rest of your capital. Precisely. Strategically. And with purpose. ✍️ thoughts on generalist vs. specialists value? ♻️ repost if someone in your circle needs to see this Follow Mark Flippen for daily risk management insights. And join thousands of financial institutions that have signed up for: “The LION Specialty Weekly Boardroom Briefings” (see bio or comment “brief,” and we’ll sign you up…)

Simple explanations of coverage, with examples of claims, and for those that want to go a bit deeper... actual case law for: Directors & Officers, Errors & Omissions, Fiduciary and Employment Practices coverages. Need help decoding your programs, reach out! You might need a LION on your team...

Busy executives, the world of insurance this week in 60 seconds… Generative AI. The word itself keeps getting thrown around, everywhere. But what is it? In layman’s terms, please! We break it down with real world examples. Plus, how it’s being used by underwriters… By brokers… And the elevated bad faith exposures for our carrier partners and clients using it to augment their claims processes. What used to be bad faith + the occasional punitive damage award, NOW includes new AI regulatory risks… And the goal posts keep moving! All in our tomorrow’s edition of: “The Weekly LION Specialty Boardroom Briefings.” New here? Each week our team reviews over 200 insurance articles. We bring you the top three we think are the most interesting. We summarize them along with our hot takes on how they might impact the global insurance markets. It’s a quick five min skimmable read. For our financial institution clients. And busy executives that want to stay current on the insurance markets… (Subscribe in my feature section) Or comment “newsletter,” and we’ll get you on the distribution… Stay covered everybody! Mark Flippen

When insurance is treated like an operational expense instead of a capital strategy… It gets delegated to the wrong people, under-analyzed by generalist teams, misaligned with the real risks that matter. It quietly fails… …until it fails loudly! In litigation, in diligence, or in front of your board. After two plus decades inside the world’s biggest brokerages, we couldn’t unsee it. Great institutions were being handed recycled playbooks, vague promises, and policies no one could defend when it counted. We got tired of the compromises. So we built something else. We built LION Specialty A doctrine-driven insurance brokerage platform for financial institutions who demand elite protection—by design, not default. 🦁 The 7 Laws of LION 1. The Only Client Rule: Every client must feel like our only one. Elite prep. Total presence. No fluff. 2. Our Process Is the Pitch: We don’t wing it. We run it. Our structured playbook is the product. (It’s served hundreds of institutions now in up / down market cycles) 3. Elite Coverage Isn’t Given: It’s Negotiated. We trade coverage globally—with real leverage in London, Bermuda, and the U.S. 4. Renewal Is a Re-Underwrite: We rebuild every year from zero. Because last year’s program doesn’t protect this year’s balance sheet. 5. We Engineer Coverage to: Withstand your worst day. Every program is reverse-engineered from the moment it will be tested. 6. Tools > Talk: Stress tests. Benchmarking. Loss modeling. We build clarity before we build coverage. 7. Claims Aren’t the End: They’re the Proof. When pressure hits, we don’t vanish. We defend what we built. If your broker can’t explain their doctrine, they’re winging it. And that’s not a strategy. It’s a liability. We built LION to deliver conviction, not hope. Because your balance sheet deserves more than a policy. It deserves a system.

As an insurance company, ever wondered why you get elite service from your reinsurance partners, but not on your D&O, E&O, or Cyber placements. Same standards. Same stakes. Completely different experience. That disconnect is why I built LION Specialty After 25 years brokering for the largest financial institutions, and the firms just below that tier, I saw a pattern I couldn’t ignore. MGAs, regionals, mutuals, and especially insurtechs were consistently underserved on the retail side. Not because they lacked sophistication. But because they didn’t meet the thresholds that legacy brokerages prioritize. The quote unquote FI specialists. That meant… - Templated generic programs - Limited strategic design - No real reinsurance market alignment (ECO/XPL/Bad Faith) And coverage that underperformed when it mattered most! So I stepped away from the model I knew how to win… …to build the one these firms were never offered. At LION, we bring reinsurance-grade brokerage execution to institutional retail accounts. What that looks like in practice… Structuring coverage around enterprise risk — not copy/paste templates. Running renewal like a capital event, not an admin deadline. Data and advanced analytics. (like our bad faith model) Advocating during claims like it’s our balance sheet on the line. Tracking carrier moves and market signals so you’re never caught flat-footed… If you’ve ever wondered what it’s like to have reinsurance-caliber thinking applied to your insurance program… now you can. Let’s connect! FLIP Co-Founder, LION Specialty

The future of how institutions buy insurance isn’t changing. How they find their brokers is. CFOs, GCs, & executives managing risk at the highest levels… Access to the best insights, the best advisors, the data and analytic tools you need to make informed decisions — isn’t hiding behind closed doors anymore. It isn’t locked inside the largest brokerage firms anymore either. It’s happening in real time. (Daily here on LinkedIn and on X and YouTube) Where executives track fast-moving risks, market shifts, and leadership signals as they unfold. At LION Specialty we spent the last year building a leadership presence here on LinkedIn. Now, we’re expanding to X. Not to leave LinkedIn, but to add something even bigger: ➔ Breaking news that impacts global insurance markets before it hits the slow cycle ➔ Case study breakdowns of how elite institutions survive worst-case scenarios, and how you can structure for the same ➔ Risk strategy frameworks based on 30+ years advising world-class financial institutions ➔ Playbooks for protecting leadership, capital, and boardroom trust in real time “Executive Briefings” Because the future of leadership isn’t just about reacting. It’s about having the right risk intelligence at the right time, and acting on with precision. Follow us on X now too: @MarkFlippenFLIP and @Nkiemnec 🦁 LION Specialty The boutique leader in institutional insurance.

What happens when you're forced to buy your collapsing rival—and turn it around in 90 days? In March 2023, UBS was ordered to acquire Credit Suisse for $3.25 billion. It was a last-minute rescue. No negotiation. No due diligence. Just 48 hours to absorb one of the world's most troubled banks. Credit Suisse didn’t collapse overnight—it unraveled for years. • Scandals eroded trust. • Losses mounted. • Clients began pulling $10 billion a day. Regulators feared a global domino effect. That's why UBS had to step in. Wall Street expected a train wreck. The risks were huge: Cultural clashes, mass layoffs, client exits, and major balance sheet exposure. UBS’s stock dipped as analysts braced for chaos. But behind the scenes, they were already executing a strategy. They didn’t debate or stall for time. They acted. The results were staggering: → $28.9B profit reported in Q2 2023 → UBS stock jumped 43% in one year → Capital strength rose to 14.4% → Cost-cutting targets expanded to $13B by 2026 → Wealth management surged to $5 trillion in assets under management How did they pull it off? → Reached out to top clients within days to preserve key relationships → Made bold leadership changes—no committee paralysis → Retained profitable Credit Suisse units, shed underperforming divisions fast → Used government support to de-risk high-stakes decisions → Communicated early and often to keep markets grounded By year-end, the “doomed merger” became a global case study in execution under pressure. 3 Takeaways for Insurance Executives: 1. Forced action doesn’t mean reactive action—have a playbook. 2. Simplify leadership chains in moments of stress. 3. Great execution beats perfect conditions every time. – Thanks for reading! I’m Mark Flippen. After 25+ years brokering insurance for the world’s top financial institutions, we’re now bringing that same platform to underserved firms who deserve it too. Want the same elite protection that Fortune 500 banks enjoy? Join 5K+ financial leaders who rely on our weekly newsletter to stay ahead of the competition: https://lnkd.in/e8qkpZkY LION Specialty The leader in institutional insurance. 🦁

What happens when the app holding your money vanishes overnight? In April 2024, thousands of Americans woke up to a nightmare. Synapse—an invisible middleman between banking apps and real banks—collapsed in silence. $200M in customer funds were frozen. Rent checks bounced. Savings vanished. One user lost access to $16,000. Others couldn’t buy groceries or pay for surgery. Most had never even heard of Synapse—until their money disappeared. Here’s what really happened: Many fintech apps don’t hold your money directly. Instead, they rely on back-end connectors like Synapse to route funds into pooled accounts at traditional banks. Only Synapse tracked who owned what. When it filed for bankruptcy on April 22, 2024, those records vanished. Banks couldn’t verify account holders. A $95M mismatch emerged between customer balances and traceable funds. The red flags were there: → Layoffs and thinning operations → Failing relationships with partner banks → Disorganized financial records But nobody noticed—until it was too late. This wasn’t just Synapse’s failure. It was a wake-up call for the entire system. Court-appointed trustees and partner banks eventually stepped in. By year’s end, $187M—roughly 85% of frozen funds—was returned to customers. But the damage was done. 3 Lessons for Financial Institutions: Pooled accounts demand airtight ownership records Fintech middlemen need stronger oversight Protection systems must be built before a crisis—not after If you're leading a financial firm, now's the time to ask: where are your hidden risks? At LION Specialty, we help uncover those gaps—before they turn into million-dollar disasters. Follow for more risk transformation insights. Because in finance, the best defense is always proactive. - Thanks for reading! I’m Mark Flippen: After 25+ years brokering insurance for the world’s top financial institutions, we’re now bringing that same platform to underserved firms who deserve it too. Want the same elite protection that Fortune 500 banks enjoy? Join 5K+ financial leaders who rely on our weekly newsletter to stay ahead of the competition: https://lnkd.in/e8qkpZkY LION Specialty. The leader in institutional insurance. 🦁

The FTC just revealed something big: workplace apps are engineered to hijack your attention. Each ping hits like a slot machine win. Each buzz pulls focus for 23 minutes. Five interruptions a day? That’s two hours—gone. Over a year, that adds up to 500+ hours. Twelve and a half workweeks lost to digital noise. And here’s the catch: willpower won’t save you. These tools are built to keep you hooked—with help from behavioral science. But there’s a fix. And it only takes 5 minutes. → Turn off non-essential notifications → Block 2–3 “Do Not Disturb” windows each day → Keep your phone out of sight during focus time → Use built-in screen time reports and focus tools The results? → An extra hour of deep focus daily → Complex work done in half the time → Lower stress, fewer mistakes → Noticeably better output—fast For financial firms, focus isn’t just a productivity issue. It’s a risk issue. Distractions during key decisions can have real consequences. 3 Takeaways for Insurance Executives: 1. Distraction isn’t just a tech problem—it’s a performance threat 2. Focus is a safeguard, not a luxury 3. The best risk controls often start with behavior, not software - Thanks for reading. I’m Mark Flippen. After 25+ years brokering insurance for the world’s top financial institutions, we’re now bringing that same platform to underserved firms who deserve it too. Want the same elite protection that Fortune 500 insurance companies enjoy? Join 5K+ financial leaders who rely on our weekly newsletter to stay ahead of the competition: https://lnkd.in/e8qkpZkY LION Specialty The leader in institutional insurance.

What happens when tariffs shake the economy—but insurance stocks keep climbing? This year, President Trump's tariffs CRUSHED most industries. While many industries struggled under trade war pressure, insurance quietly delivered record gains. Why? Insurers don’t import parts or materials. They trade in risk. No supply chain. No tariffs. No disruption. As the S&P 500 fell, insurance stocks rose 12–15%—a 50+ point gap over tech. It’s not a fluke. It’s a pattern. Insurance adapts when others stall. → As prices rise, premiums adjust → Auto tariffs raise car costs? Insurance follows suit → Home values climb? So do property policies In some regions, premiums even outpaced inflation by 3–4%. That pricing agility is a hidden strength. Most policies are priced annually—or sooner. That means insurers stay ahead of cost curves. And it’s not just inflation. In 2008 and during COVID, P&C insurers remained stable. Why? Strong capital buffers and smart regulation. When markets shake, demand for protection increases. And insurers are built to respond. Want to spot winners during volatility? Look for businesses with: → Pricing power → Essential services → Capital discipline → Built-in resilience 3 Takeaways for Insurance Executives: • Agility in pricing is a strategic asset, not just an operational one • True strength shows during stress—not in calm markets • Specialized expertise outperforms one-size-fits-all solutions – Thanks for reading! I’m Mark Flippen. After 25+ years brokering insurance for the world’s top financial institutions, we’re now bringing that same platform to underserved firms who deserve it too. Want the same elite protection that Fortune 500 banks enjoy? Join 5K+ financial leaders who rely on our weekly newsletter to stay ahead of the competition: https://lnkd.in/e8qkpZkY LION Specialty The leader in institutional insurance. 🦁

Teams aren’t built on slogans. (They’re built like this.) Bermuda Day, 2019. My first half marathon. The streets were packed with Bermudians. Families banging drums, waving flags, lining every corner, cheering on strangers like lifelong friends. It’s one of the coolest things I’ve ever been part of. I trained hard. So hard that by race day, I needed the ridiculous Copper Fit knee braces you can see in this pic…just to start. My mission that day… Just run the whole thing. Finish. Try not to embarrass myself. Meanwhile, my cofounder has run triathlons, Spartans, countless halves and full marathons. Races were second nature to her. Mile 12. I’m getting gassed. My knees are shot. Downtown Hamilton’s behind me. Then she appears, running back toward me, cheering, laughing, moving at my broken pace. Not to razz me. To freaking run the last mile with me. 💪🏼 Long after she had already finished! It’s in that moment too, I realized… …this is who I want to build with. Today, we’re building our company the same way. A boutique insurance brokerage, built around a team founded on collective high performance. People who don’t just show up when it’s easy. But show up when it’s hard. If you’ve ever had someone come back to run your last mile with you— you know exactly what I’m talking about. Tag them below. Thank them. And keep running. Have a great weekend, yall!

He built the most powerful insurance company in the world. On Sunday he turned 100! Maurice Hank Greenberg. Or Mr. Greenberg, as many of us still refer to him. The most famous insurance leader of our lifetimes, and arguably the most influential person in the history of our business. Happy 100th birthday, sir. In a business that dates back to the 1600s, and feels as old as time… To explain what Mr. Greenberg means to our industry in a single post might be impossible. But I’m going to try to anyway. I spotted him walking down Park Ave not too many years ago. On a cold December morning in New York City, Mr. Greenberg at the ripe old age of 94, maybe 95. Red wool baseball cap on. In a navy pinstripe suit, tie, and a cool old beat up trench coat that looked like he’d worn it all since the ’90s. A billionaire, yet he still looked like an insurance guy. On his way to work. The New York version. To me, at least. Back then, I believe he still walked to the office of Starr Companies every day. The firm founded by his mentor, C.V. Starr, in 1919—which he continues to lead to this day. A year or so before that he was still doing one on ones w his underwriters on active claims. An u/w friend of mine had called me on one of ours just before heading into his one- one. That image though, wind howling, Manhattan rushing past is the embodiment of Mr. Greenberg… The greatest of all time. To get a sense of who he is, we need to look at where he started. Born Maurice Raymond Greenberg in 1925, he grew up in the throes of the Great Depression. He served in World War II as a Captain in the U.S. Army, landing on Omaha Beach on D-Day and later participating in the liberation of Dachau. He also served in the Korean War. (Thank you for your service, sir) Those years marked by “grit, sacrifice, and responsibility” were, as Mr. Greenberg reflected in “The AIG Story,” the crucible that forged his worldview: Leadership isn’t granted. It’s earned under fire. After the war, he earned a law degree, but soon stepped into the world that would define his life, INSURANCE. In 1960, he joined C.V. Starr & Co. as vice president and, by 1962, was leading American International Underwriters…the global arm of the company that would soon become AIG. He wasn’t just an executive. As many have told me personally over the years that worked with him/for him, he was a force. With a hard-driving style and an unmatched appetite for growth, he helped transform that operation into AIG. An absolute behemoth. At its peak, AIG spanned 130 countries and touched nearly every corner of the financial world. I’ve always thought our business is better off when AIG is thriving. But Greenberg didn’t just build a company. He built a model. Continued in comments below 👇🏻

“our insurance carrier is denying coverage” words no General Counsel wants to hear on a Tuesday morning After three decades advising GCs at the world’s leading financial institutions… Here’s what we’ve learned: GCs trust the process, but not always the performance. What they really want is clarity, control, and contracts that hold up under pressure. Take our client, Jessica, for example. General Counsel at a regional financial firm, she faced a regulatory investigation when we met her—and $1.8M in potentially uncovered defense costs after her carrier denied coverage. (Jessica is not her real name) We’re featuring her story tomorrow. In the General Counsel’s Definitive Guide to Insurance. A new blog we wrote for legal leaders who want more than fine print. They want protection that performs. Or out performs! In our first feature for GCs, you’ll learn… → Why your 3D risk profile demands more than off-the-shelf coverage → The 3 hidden sections in most policies that leave GCs exposed → How to vet policies through a legal (not just insurance) lens → Why meeting your claims team before binding matters → 5 questions every GC should ask to stress-test their program → Real-world steps to make sure your insurance delivers when it matters most This isn’t theory. It’s field-tested, high-stakes insight from the claims trenches. Hi, I’m Mark Flippen. For 25+ years, I’ve brokered insurance coverage for leading financial institutions and helped recover over $250 million in D&O and E&O claims while working with some of the FI industry’s best GCs. Now, we’re bringing that same playbook to GCs of underserved institutions who deserve elite protection, too. Want a copy? Comment “GC” below and we’ll send it your way. LION Specialty

In 2017, Equifax faced one of the worst data breaches in U.S. history, and paid $700M to clean it up. 147 million Americans had their personal data exposed. Social Security numbers. Addresses. Birth dates. All gone. Nearly half the country was put at risk overnight. And it all came down to one critical failure. The Apache Software Foundation flagged a flaw. Homeland Security sent a warning. But Equifax didn’t apply the fix. For two months, hackers quietly pulled data while a key monitoring tool had expired. When they finally caught it, they waited six weeks to tell the public. In the meantime, company executives sold nearly $2M in stock. The fallout was brutal: → Stock dropped 33% → Top executives resigned → Moody’s downgraded their credit → They paid $700M in penalties—$425M to affected consumers But what came next was one of the most surprising turnarounds in corporate history. They rebuilt everything from the ground up: → Hired a respected CISO and new leadership → Poured $1.6B into security systems → Brought on 600+ cybersecurity pros → Launched military-grade monitoring, MFA, and encryption By 2020, their stock recovered. By 2023, it doubled. Their security became a competitive advantage. 3 Takeaways for Insurance Executives: 1. Cyber risk is no longer just IT’s problem—it’s everyone’s. 2. Security gaps often come from missed basics, not advanced threats. 3. Resilience means responding with urgency, not optics. - Thanks for reading! I’m Mark Flippen: After 25+ years brokering insurance for the world’s top financial institutions, we’re now bringing that same platform to underserved firms who deserve it too. Want the same elite protection that Fortune 500 banks enjoy? Join 5K+ financial leaders who rely on our weekly newsletter to stay ahead of the competition: https://lnkd.in/e8qkpZkY LION Specialty. The leader in institutional insurance. 🦁