Business Insurance (BI) relaunched its trusted industry magazine this month. BI Editor Gavin Souter joined at the PCI Annual Meeting in Dallas to report on the “good news” he heard for risk managers at the conference, and to share insights into the changes and editorial focus at the “re-new BI.”

Mr. Souter says that news from PCI will be good news for risk managers, who have enjoyed a soft market for several years. Reinsurers “dodged a bullet with Matthew”, which did not hit Florida as predicted. With no catastrophe to turn the market, property reinsurance rates will not move much at renewals. Casualty reinsurers said that they are at the bottom of the market, and are pushing stabilized rates in some lines, rising rates on others. Many companies are reporting that they will not have the same reserve releases that were executed in previous years to sure up results, which will put an emphasis on current year pricing.

Looking ahead, Mr. Souter expects to cover several major stories in the pages of Business Insurance, and on its new website, including the Presidential election, tort reform, the National Flood Insurance Program (NFIP), the workers compensation market, emerging technologies, cyber risk/insurance.

Reflecting on the change in ownership at Business Insurance, Mr. Souter says original owner Crain’s Communications decided to focus on different publications. Once Crain’s announced it would close BI, it was quickly acquired by Adam Potter at Claims and Litigation Management (CLM). While BI will be kept as a separate company, he sees synergies in event strategies in both organizations.  Business Insurance will focus on the risk management disciplines, but not Benefits, and will now be published monthly, with more timely content on its website, and e-newsletters every day.

For more from the Annual PCI Meeting in Dallas, visit the On Demand Library.

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