National Insurance Crime Bureau on workers comp and medical fraud, cybercrime, vehicle and cargo theft World Risk and Insurance News speaks with Roger Morris from the National Insurance Crime Bureau about developments in workers camp fraud, cybercrime, auto theft and medical fraud. Among the hot topics he discusses: “Malingering” driving up workers comp fraud in the U.S. Insurance Industry wants NICB to get more involved in cybercrime Vehicle theft is down, though non-traditional theft is … Read More
Residual markets and penetration in developing markets offer growth opportunities Brad Kading, President of ABIR, sees growth in the U.S. coming from shifts in business from State residual insurance markets (i.e. Florida and Texas). According to Mr. Kading, Reinsurers would like to take on risk coming from the National Flood Insurance Program, (NFIP). Guy Carpenter estimates that $9-12 billion in capacity might be available from the NFIP. In the UK, … Read More
US election gives hope to tort reform battles WRIN.tv spoke with Chuck Chamness, President and CEO of the National Association of Mutual Insurers, during the recent Joint Industry Forum in New York. We asked him how Mutuals faired in 2014, and for his comments on international regulatory standards, tort reform, and other issues such as the HUD Disparate Impact Standard. With numerous Federal regulation and legislation grabbing headlines … Read More
Post-financial crisis environment conducive to mutual insurers WRIN.tv spoke with Chuck Chamness, President and CEO of the National Association of Mutual Insurers, during the recent Joint Industry Forum in New York. We asked him how Mutuals faired in 2014, and for his comments on international regulatory standards, tort reform, and other issues such as the HUD Disparate Impact Standard. Through nine months in 2014, Mutual Insurers were … Read More
A.M. Best explains “Negative” outlook for Commercial Lines In a recent edition of A.M. Best’s First Monday series, Andrew Colannino, Vice President of the Property/Casualty Ratings Division, discusses the rationale for the Commercial Lines segment received a negative rating. According to Mr. Colannino, “…there is a slight deficiency in terms of the loss reserves”…(and) with the low interest rate environment, inflationary loss costs, and increased competition, companies have … Read More
IIS President/CEO on regional growth, cyber, and the reinvention of insurance industry World Risk and Insurance News spoke with Mike Morrissey, President and CEO of the International Insurance Society (IIS), during the recent Joint Industry Forum in New York. Mr. Morrissey believes the tone of discussions at this year’s event was different. Leaders are talking more about long-term structural changes in the insurance business. Among the topics Mr. Morrissey discussed are: There … Read More
Southeast Asia has opportunities for growth, while Europe lags World Risk and Insurance News spoke with Mike Morrissey, President and CEO of the International Insurance Society (IIS), during the recent Joint Industry Forum in New York. Mr. Morrissey believes the tone of discussions at this year’s event was different. Leaders are talking more about long-term structural changes in the insurance business. Mike Morrissey, President and CEO of the International … Read More
Asia sees growth internally and internationally through acquisition World Risk and Insurance News spoke with Mike Morrissey, President and CEO of the International Insurance Society (IIS), during the recent Joint Industry Forum in New York. Mr. Morrissey believes the tone of discussions at this year’s event was different. Leaders are talking more about long-term structural changes in the insurance business. Here, WRIN.tv speaks with International Insurance Society (IIS) … Read More
Opportunities for insurers to reinvent…more risk management services-less risk on books WRIN.tv spoke with Mike Morrissey, President and CEO of the International Insurance Society (IIS), during the Joint Industry Forum in New York. Mr. Morrissey believes the tone of discussions at this year’s event was different. Leaders talked more about long-term structural changes in the insurance business…demographic changes…generational changes…safer cars…fewer accidents…different structures of property insurance. Mr. Morrissey wonders if the industry … Read More
S&P Credit Analyst reviews the impact of reauthorized TRIA. Before the New Year, Congress failed to reauthorize the federal backstop for terror insurance, prompting an outcry from insurance industry leaders and trade groups. Last week, TRIA was reauthorized through 2020. Tracy Dolin, a Credit Analyst at Standard and Poor’s, speaks with WRIN.tv about the impact of TRIA’s and what it means. Ms. Dolin notes that TRIA is extended for … Read More
WRIN.tv Week in Review: January 5-9, 2015 Last week on WRIN.tv… Monday Morning Headlines, provided by SNL Insurance included: The Superintendent of New York’s Department of Financial Services seeking info on the impact of the expiration of TRIA…an effort now, with TRIA passing, somewhat unnecessary. Aon Benfield reported insured losses for 2014 will likely be about far lower than 2013, while SNL suggests the lack of major … Read More
Monday Morning Headlines: January 5, 2015 Monday Morning Headlines are compiled by SNL Insurance and produced by WRIN.tv as a weekly video digest of the news making headlines in the U.S. Insurance industry. In this edition of Monday Morning Headlines: Lawsky seeks information from NY insurers on impact of TRIA expiration Lack of natural catastrophe activity keeps pressure on pricing Willis Re: Challenging conditions for reinsurers at January renewals 2014’s top insurance … Read More
WRIN.tv November 29, 2012. UK Flood insurance talks at impasse; Lloyd’s says the world is under-insured; AIR’s Dr. Doggett on revised Sandy loss estimate and climate change. Watch the fully edited stories featured in this edition of World Risk and Insurance News: UK Flood insurance at issue for the government and insurers; Lloyd’s report sees Read More
Carnegie Mellon CyLab study on cyber governance among major corporations. A Carnegie Mellon CyLab study, sponsored by RSA, a leading security, risk and compliance management solutions firm, Read More