Chuck Chamness, President and CEO of the National Association of Mutual Insurance Companies (NAMIC) admits insurance is a challenging business, and it’s changing rapidly. Among the contributing challenges facing the industry is technology, which is increasing the speed of change. The talent gap presents issues for companies looking to replace retiring workers while attracting a new generation of professionals. He …

AAIS President and CEO Ed Kelly discusses the major issues industry executives are concerned about heading into 2018, including technology, the new economy and buying behavior, as well as government regulation. While technology remains an enabler in the insurance industry, Mr. Kelly notes that the new uses of technology are the “disruptors.” “We’ve seen that with automation…the use if drones, …

Jerry Theodorou, a Vice President of Insurance Research at Conning, previews a strategic study that looks at Mutual property-casualty insurance companies. According to Mr. Theodorou, there is an elevated degree of concern in five areas: technology, expense ratios, the war for talent, demographic and sociodemographic changes, and the future for personal auto. Conning is finding Mutuals are reacting proactively with …

Saad Mered, Group Chief Claims Officer at Zurich, lays out key concerns of risk managers today including the emergence of liability internationally, the frequency of claims, and the unexpected impact of “lone wolf terror” attacks. Mr. Mered sees the rapid evolution of liability frameworks in many countries as surprising to risk managers and carriers alike. The trend is emerging even …

Over the next several years, multinational firms expect to expand trade in foreign markets or increase trade in international markets they already do business in. Managers dealing with international risk are challenged to manage their existing risk management programs, especially when exposures from physical plants, increased revenue and loss trends changing. That according to Richard Friesenhahn, Head of Multinational for …

Petra Riga, Head of Distribution for Zurich in Europe, Middle East and Africa (EMEA), joins WRIN.tv to discuss the issues risk managers face when dealing with multinational regulations and rules and expectations of local regulators around the world. Ms. Riga says risk managers are challenged by increased international regulation. She notes that risk managers of multinational companies must consider insurance …

Brian Elowe, Marsh’s U.S. Client Executive Leader, reviews the key findings from the 14th annual Excellence in Risk Management report, published jointly by Marsh and RIMS. He sees a gap between the use of ‘disruptive technologies’ and the understanding of the risks that come with it. Mr. Elowe, who co-authored the report, begins by recognizing examples of ‘disruptive technologies’ such …

Kevin Kelley, CEO of Ironshore, addresses the key concerns of risk managers today, including emerging technology, the “Trump effect”, PPPs, M&As, and more. One of the biggest concerns of risk managers is technology and how digital transformation will affect their business and how exposures may change as a result. Emerging technologies are having a significant impact on risk managers. According …

John Heft, SVP and Director of the Real Estate Practice at New Day Underwriting, reviews the dynamics of today’s Environmental Liability marketplace.  He notes that Contractors Pollution Liability is the largest among segments of the market, with 50-60 carriers offering coverage.  Mr. Heft says Contractors Pollution Liability coverage is very profitable, and coverage continues to expand as a result. With …

Lorie Masters, a Partner at Perkins Coie, looks at the risks associated with operating Unmanned Aerial Vehicles (UAVs) and drones, for operations and provides advice on ways to manage them. While still at the dawn in the use of UAVs, Ms. Coie sees several risks emerging from their use, including first-party risks associated with the cost of the drone, and …

Amidst accusations that Russia was involved in hacking that affected the U.S. Presidential election, President-elect Donald Trump met with executives from some of the largest technology companies to discuss support for their businesses …once he takes office. Yahoo announced that it had suffered the largest cyber breach in history back in 2013, exposing more than one billion accounts, double the …

Leslie Rippley, VP of Commercial and Agricultural Lines at AAIS, looks at ways drones and unmanned aircraft systems (UAS)  are changing farm and agriculture business. She believes they will revolutionize the industry; particularly in functions previously done manually, or with the use of expensive, sometimes dangerous planes. Drones are ushering in “Precision Agriculture” where farmers use them to survey large …

Richard Poirier is CEO of Church Mutual Insurance, which focuses primarily on the risks of faith-based ministries, as well as public schools, assisted living facilities, non-profits and secular and religious camps.  Mr. Poirier points out some risks to physical plants of social service facilities, including workplace violence, active shooters, cyber security, and the unpredictable weather. According to Mr. Poirier, flood …

In a new report, the Council of Insurance Agents and Brokers (CIAB) says Commercial Property-Casualty rates decreased by an average of 3.9 percent in the second quarter of 2016. Carriers appear to be pricing new business aggressively, while trying to hold rates steady on renewals. According to CIAB President & CEO Ken Crerar, The Council is keeping a close eye …

The evolution and innovation in drone technology appears to be outpacing the regulatory process. While initial FAA regulations for commercial drone use go into effect by the end of August, the FAA has assembled an Unmanned Aircraft Safety Team to assess drone-use more closely. The FAA’s Safety Team will provide recommendations to ensure that drones do not put people or …

A.M. Best Vice President Andrew Colannino explains the rating agency’s ‘negative’ outlook on the commercial lines segment of the U.S. property/casualty (P&C) industry, despite relatively solid aggregate results over the past several years. He says A.M. Best’s expects more downgrades than upgrades in the coming year. The negative outlook largely reflects the concerns that have been prevalent in recent years: …

In this edition of “Issues in Risk Retention”, Jim Cutts, Editor and Publisher of The Risk Retention Reporter, joins host Joe Deems, Executive Director of the National Risk Retention Association (NRRA), for a discussion on the state of the Risk Retention Group (RRG) industry. Mr. Cutts notes that there were only ten new RRGs formed in 2014. He believes the …

John Horton, EVP and Chief Marketing Officer at AMRISC, speaks with WRIN.tv about lessons learned in ten years since Hurricane Katrina, the still-softening property insurance market, alternative capital, big data risks and more. Ten years after Katrina, and beyond the human tragedy and poor government response, the insurance industry has seen many changes in demand surge and storm surge. Demand …

During the 2015 National Association of Professional Surplus Lines Offices (NAPSLO) Convention in San Diego, WRIN.tv spoke with Jeremy Johnson, President & CEO of Lexington Insurance, where he discusses the transformational impact data and modeling has had on all industries like insurance, the “benign” 2015 hurricane season and the danger of insurance being commoditized due to the influx of alternative …

Doctor MaryRose Reaston, Chief Scientific Officer and Founder of Emerge Diagnostics, discusses developments in the diagnosis of soft tissue injuries, defined as a muscle strain, neck strain rotator cuff tear or back pain – the main cause of many expensive workers compensation claims. Dr. Reaston says Electrodiagnostic Functional Assessment (EFA) Tests are diagnostic tools designed specifically for soft tissue injuries. …