Why Social Inflation is Driving Insurance Rates Up with Billy Smith

In this episode of Crane Talk, Billy Smith, Executive Vice President at NBIS, takes listeners through his extraordinary career in the crane and rigging industry. From his early days as a crane operator to leading safety and risk management initiatives across the U.S. and Canada, Billy's wealth of knowledge provides valuable insights into navigating the complexities of the industry. He explains how insurance premiums are shaped by jurisdictional differences, liability laws, and social inflation. Billy also highlights the critical role of contracts, training, and technology like telematics in mitigating risks and controlling costs.Connect with Billy:Linkedin: https://www.linkedin.com/in/bill-smith-3416476Website: https://www.nccco.org/About the ShowCrane talk is a podcast hosted by Ron Thompson and Gene Greiner, 2 highly successful insurance producers in the Dallas-Fort Worth region.  About Ron:Ron has been specializing in the heavy iron insurance world as a broker since 1992. In the complex world of heavy iron risk exposure, Ron’s expertise is in contractual risk transfer, contract review, fleet safety management where “rubber meets the road” and keeping clients updated on legislative issues that effect the crane & rigging industry and maximizing profit for his clientele.About Gene:Gene Greiner is Vice President of commercial insurance for CoVerica with 15 years of focus on heavy construction risk. Based in Dallas, TX, he is deeply embedded in serving this industry’s risk transfer needs and, enjoys active advocacy though the Specialized Carriers & Rigging Association and the Texas Crane Owners Association.  New episodes drop the first Tuesday of each month. Please drop us a line if you have a question or suggestion; you can reach us at [email protected]. Finally, if you like the podcast, we encourage you to subscribe and leave us a review.