As the property market whipsaws from hard to soft and natural catastrophe exposures continue to redefine underwriting, Dawn Cusack (pictured) believes brokers are entering one of the most consequential transition periods in years.
It’s this reality that’s at the heart of her panel at InsuranceFest 2026: Beyond the model – rethinking NatCat risk for a volatile world. Cusack, senior vice president, principal, and property broker at Brown & Riding, will be among other industry leaders speaking about what’s driving pricing, capacity, and coverage shifts on the ground and why the industry needs to rethink how it presents and evaluates catastrophe risk in real time.
“We’re in a transitioning market,” Cusack told Insurance Business. “It’s moving from very hard to extremely soft very quickly. A lot of that is new capacity coming into the E&S property space, especially from MGAs. London is also back in the game and focused on profitable business.”
That shift raises the bar for brokers. According to Cusack, the difference between an average submission and an excellent one can materially change how a risk is modeled and priced.
Wildfire and quake exposures are prime examples, she noted. Mitigation details, including brush clearance, roofing materials, and construction type, are increasingly important to carriers’ underwriting decisions.
“Reinforced masonry versus unreinforced masonry can model completely differently,” she explained. “Those distinctions can significantly change pricing. You have to submit the right information.” For Cusack, this granularity isn't only about accuracy, it’s about client advocacy. Better storytelling around risk helps insureds stand out in a competitive market and enables brokers to deliver their core promise to find the best solution available.
The urgency of those conversations is one reason Cusack sees InsuranceFest as more than just another industry event. Having attended last year, she was struck by how intentionally the festival blends every corner of insurance: retail, wholesale, carriers, and even academic risk programs. Unlike traditional conferences that segment the industry into silos, InsuranceFest encourages cross-pollination.
Cusack said she connecting with a member of Cal State Fullerton’s risk management division, which ultimately led her to a recruiting event that Brown & Riding joined.
“I feel like the traditional conferences I’ve attended wouldn’t have all the different types of people there,” she said. “I think that’s the big standout for InsuranceFest.”
What’s more, the relaxed, outdoor environment lowers barriers and accelerates relationship-building.
“You’re on the Santa Monica Pier, outside in great weather,” Cusack added. “Personally, I love how much more relaxed it is, rather than suiting up.”
Cusack’s perspective on market cycles comes from nearly three decades spent inside a single firm. She has been at Brown & Riding for her entire career, starting as a receptionist while still in college.
A child development major, Cusack said insurance wasn’t part of her original plan, but the industry’s range of opportunities kept her engaged. A pivotal early moment came when she joined a property broker’s team in her second year; a mentor who ultimately shaped her technical foundation and professional confidence.
Cusack remained on the team for 15 years before becoming a broker herself, continuing down a property-focused path. One lesson from that mentorship still resonates, she said. “Twenty-five years ago, there weren’t as many women in top roles,” Cusack reflected.
“I learned that just because you’re a woman, it shouldn’t matter. You have to play with all the big kids in the big pond.”
Looking ahead, Cusack expects volatility to remain constant. The softening property market, influx of new capacity, and increasingly complex catastrophe exposures will demand sharper specialization and tighter collaboration.
“(As a broker) you really have to have your pulse on the market,” she said. “You need to know who’s doing what and where to go when a risk presents itself.”
Her broader advice to brokers is rooted in curiosity. Insurance, she argued, rewards professionals who treat learning as a daily discipline. The brokers who thrive over the next three to five years will be those who see change as opportunity, and who invest in the relationships and knowledge networks that help them navigate it.
“There are no two days alike in insurance,” Cusack said. “If a day goes by that I don’t learn something, I’d be really surprised.”
Want to hear more from Dawn Cusack and other industry leaders? Explore the agenda and join the conversation at InsuranceFest 2026.
