John Heft, an SVP at New Day Underwriting Managers, speaks with WRIN.tv during the 2015 IRMI Energy Risk and Insurance Conference about the use of new technologies, and risks they pose to oil and gas companies. According to Mr. Heft, there are many types of environmental risks that are typically covered under a standard energy General Liability (GL) policy. For …

Bijan Bijarchi, a VP at York Risk Services, speaks with WRIN.tv during the 2015 IRMI Energy Risk and Insurance Conference about trends in workers compensation. According to Mr. Bijarchi, “the price of oil has a direct impact on claims in the oil and gas industry and we are seeing a marked increase in claims frequency as a result of lower …

WRIN.tv speaks with Julia Palmer during the 2015 IRMI Energy Risk and Insurance Conference, a partner at the law firm of Gray Reed and McGraw, about claims litigation and emerging legal trends. According to Ms. Palmer, the advent of shale gas production brought with it concern about contamination of ground water. She says those cases are not going to trial, …

WRIN.tv speaks with Catherine Duffy, an SVP with XL Insurance (Bermuda), during the IRMI Energy Risk and Insurance Conference about emerging risks in the oil and gas industry. According to Ms. Duffy, the greatest threats to oil and gas companies “stem from the decrease in oil prices…which is creating talent scarcity and talent retention issues.“ The energy industry is letting …

Tracy Alan Saxe, a partner at the law firm of Saxe Doernberger & Vita, speaks with WRIN.tv during the 2015 IRMI Energy Risk and Insurance Conference about litigation stemming from Builders Risk in the oil and gas industry. Mr. Saxe sees a number of litigation issues affecting the energy industry directly related to a recent court decision regarding additional insured’s …

Jeff Hubbard, Director of Environmental Practice at Towerstone, a wholesale insurance broker and MGA, discusses emerging environmental risks associated with drilling for oil and gas. Hydraulic fracturing (Fracking) and the risk to water supply have been concerns, but environmental risks to air quality are now complicated by government regulations at the federal and state level. The most pressing environmental issues …

WRIN.tv speaks with David Goodwin, a partner at the law firm of Covington & Burling, about trends in insurance litigation, during the 2015 IRMI Energy Risk and Insurance Conference.  Mr. Goodwin says insurance companies are afraid of litigation because juries do not like insurance companies  “…when an insurance company is in front of a jury, they know that they are …

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 …

Late last year, Tom Leonardi left his post as the Connecticut Insurance Commissioner to join Evercore Partners, the investment banking firm. WRIN.tv spoke with Tom about the capital standards, the influx of capital in the industry, the new Congress, the Affordable Care Act, M&A and more. Mr. Leonardi reviews efforts to establish capital standards at the U.S. and international level, …

Legislation and regulation, in the U.S. and internationally, remain top issues for the insurance industry. Here, World Risk and Insurance News (WRIN.tv) speaks with Leigh Ann Pusey, President & CEO of the American Insurance Association (AIA) about these and other issues. Ms. Pusey is considered by many to be a Washington insider. Here she says tax reform, cyber risk, foreign …

Peter Miller, President and CEO of The Institutes joined WRIN.tv during the Joint Industry Forum in New York to discuss the many changes affecting the underwriting discipline over the past few years, including the impact of technology, data and the opportunities they present to underwriting professionals. Top three factors affecting underwriters today all revolve around technology Telematics, data analytics and …

World Risk and Insurance News spoke with Brad Kading, President & Executive Director of the Association of Bermuda Insurers and Reinsurers (ABIR), during the recent Joint Industry Forum in New York.  He discussed the impact of the tropical storms that hit the island in October 2014, Bermuda’s efforts to seek Solvency II equivalence, NAIC designation of Bermuda as a “qualified …

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 fared in 2014, and for his comments on international regulatory standards, tort reform, and other issues such as the HUD Disparate Impact Standard. Among the topic Mr. Chamness discussed are:  Post-financial …

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 …

During the Joint Industry Forum in New York, World Risk and insurance News (WRIN.tv) asked industry leaders to react to the renewal of the Terror Risk and Insurance Act (TRIA).  Here, we have commentary from Insurance Information Institute (III) President Bob Hartwig, NAMIC President and CEO Chuck Chamness, American Insurance Association  (AIA) President & CEO Leigh Ann Pusey, Reinsurance Association …

World Risk and Insurance News was on-site for the annual Joint Industry Forum, hosted by the Insurance Information Institute.  Here, Dr. Bob Hartwig, President of the Insurance Information Institute, shares his thoughts on the new Congress, the debate over capital standards, technology, and more. III’s Hartwig sees Dodd-Frank, Obamacare and MetLife’s SIFI challenge as key Federal issues in 2015. Will …

In this edition of Cyber Risk – The Threat…The Response (sponsored by Worldwide Facilities, Inc.), guest Steve Vallone, a Broker at Worldwide Facilities and Serene Davis, a Professional Liability Underwriter at Beazley, discuss privacy breach insurance. According to Ms. Davis, “Privacy breach insurance is…a liability policy…that is secondary to first-party coverages…When a breach occurs, there are multiple steps…and large costs involved in …

In this edition of the D&O & Life Sciences series, sponsored by RT Specialty Group, host Michael Garofalo, SVP in the National Life Science Practice at RT Specialty, welcomes Kevin LaCroix, an Executive Vice President at RT ProExec, a division of RT Specialty.  The topic is D&O issues for life science companies. “Life Science companies are vulnerable to securities litigation,” …

In Part 2 of this edition of Cyber Risk – The Threat…The Response (sponsored by Worldwide Facilities, Inc.), guest Gamelah Palagonia, Founder of Privacy Professionals, discusses the impact of technology, privacy and cyber risk on enterprise risk management. Cyber risk is a Board and employee issue, according to Ms. Palagonia, “but more importantly it is an enterprise issue…. an enterprise risk that …

Innovations in Insurance - Vincent Tizzio, President and CEO of Navigators Management Company, Inc., on the importance of innovation