The property-casualty insurance industry gives about $1 billion each year to charitable causes. That according to a McKinsey Study conducted for the Insurance Industry Charitable Foundation (IICF). IICF CEO Bill Ross says the industry supports a variety of charities across the US, with a focus on education as well as health and human services. He says it important for companies …

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 …

Rohit Verma, Global COO of Crawford & Company, believes data will continue to be a big asset to insurers, and the companies that can mine data effectively will see the biggest benefit. While advanced technology is necessary to leverage data, companies need to develop the mindset to incorporate insights in day-to-day work. Mr. Verma also sees “lack of talent” as …

The insurance industry struggles to attract and retain next generation professionals.  Here, WRIN.tv speaks with Monica Ningen, Head Property Underwriting in the U.S. & Canada at Swiss Re about the Talent Gap in the insurance industry.  She was named to Business Insurance’s list of Woman to Watch in 2015, and shared her thoughts on the misconceptions about a career in …

NAMIC’s Chuck Chamness gives an update on St. Baldrick’s, a charity with deep ties to the insurance industry that raises money for childhood cancer research. NAMIC President and CEO Chuck Chamness also serves as Chairman Emeritus of the St. Baldrick’s Foundation, which supports childhood cancer research through unique fund-raising events where volunteers shave their heads to support the cause. Here, Mr. …

WRIN.tv Speaks with NAPSLO Executive Director Brady Kelley during the recent NAPSLO Convention in San Diego, about market condition, innovation, talent in the industry and his concerns about the future. Mr. Kelley describes market conditions in the surplus lines as “very strong” with an abundance of capital and a relatively long break from significant catastrophes or loss events. He quotes …

At the 2015 National Association of Professional Surplus Lines Offices (NAPSLO) Convention in San Diego, WRIN.tv asked Jeremy Johnson, President & CEO of Lexington Insurance, to comment on the insurance industry’s need to draw top next generation talent. He believes it is “critical”, not only to create a pipeline of professionals to bring up through an organization, but also to …

During the recent 2015 Global Insurance Forum, Brian Duperreault, CEO of Hamilton Insurance Group, discussed the need for the insurance industry to recruit from a new generation to bridge the Digital Divide. According to Mr. Duperreault, the insurance industry has an aging workforce and will have at least 400,000 open positions in the next five years. He believes the industry …

  Jody Queen-Hubert from the St. John’s School of Risk Management speaks with WRIN.tv about a group of students she led to the 2015 RIMS Conference in New Orleans thanks to RIMS Student Involvement Program, and a grant by the ACE Foundation. She also discusses how best to attract millennials to the insurance industry. According to Ms. Queen-Hubert, students are …

Peter Miller, President and CEO of The Institutes, joins WRIN.tv to discuss talent acquisition and development, cyber risk, Big Data and more. According to Mr. Miller, there is a large number of skilled people who are getting ready to leave the industry. The Bureau of Labor Statistics says that by 2022 the insurance industry will have to fill around 500,000 …

Following Hurricane Katrina in 2005, RIMS held its first Community Service Day in New Orleans in 2007. With the 2015 RIMS Annual Conference returning to New Orleans, Community Service Day returned to its roots. RIMS Executive Director Mary Roth and the CEO of Zurich’s North American Commercial Division, Mike Foley, discuss a long-term commitment to community service and the resilience …

To honor all those who have given their hair, and their money, to fight childhood cancer, we are Rewinding our interview with Chuck Chamness.  Chuck Chamness is President and CEO of the National Association of Mutual Insurance Companies (NAMIC) , and is also Chairman of St. Baldrick’s, a volunteer charitable organization focused on raising money to fight childhood cancer. He …

Progressive’s personal lines business is seeing some management changes. Pat Callahan is taking over as president of the group after serving as personal lines acquisition leader. Tricia Griffith will be COO of personal lines. CEO Glenn Renwick quote:  “These moves confirm what I’ve said in the past, which is that we have benefited from the long-term stability of our senior …

WRIN.tv’s Monday Morning Headlines, compiled by SNL Insurance, is a video digest of the news you need to know about the U.S. Insurance industry. Today’s Monday Morning Headlines: Cincinnati Insurance Co. criticizes IAIS capital standards California Insurance Dept. warns insurers against price optimization FEMA steps in on allegations vs. insurers over Sandy claims Progressive posts first increase in agency auto …

Missouri Insurance Director John Huff will serve as the NAIC’s president-elect in 2015, after winning a special election on February 8. Kentucky Insurance Commissioner Sharon Clark was also vying for the position, which was vacated when Pennsylvania’s newly elected governor removed state Insurance Commissioner Michael Consedine from office.  Huff will take over as NAIC president next year.

Chuck Chamness is President and CEO of the National Association of Mutual Insurance Companies (NAMIC). , Mr. Chamness is also Chairman of St. Baldrick’s, a volunteer charitable organization focused on raising money to fight childhood cancer. He reminds us that the charity was started by three reinsurance executives at a St. Patrick’s Day Party in 1999. A challenge bet resulted …

Frank Nutter, President of the Reinsurance Association of America (RAA), joins World Risk and Insurance News (WRIN.tv) to discuss developments in the U.S. reinsurance market. Key topics include: RAA President sees Alternative Capital as competitive and complementary Hope for FIO’s involvement in “covered agreements” for reinsurance in 2015 Will international capital standards recognize “sound” U.S. system? 2015 could see Corporate …

WRIN.tv’s Monday Morning Headlines, compiled by SNL Insurance, is a video digest of the news you need to know about the U.S. Insurance industry. Today’s Monday Morning Headlines: NAIC to give IT guidance re: Cybersecurity for insurers Fla Governor gets advice from lobbyist re: new insurance commissioner PartnerRe/AXIS Capital merger to create 5th largest P&C reinsurer ACE CEO Greenberg: consolidation …

Last week on WRIN.tv… Monday Morning Headlines from SNL Insurance featured President Obama  State of the Union The Department of Homeland Security and a cyber incident repository for insurance companies The New York Department of Financial Services and IT exam guidance for insurers The NAIC’s announced a new  chair for its International Insurance Relations Committee KKR’s deal to acquire QBE’s …

Peter Miller, President and CEO of The Institutes, is optimistic about opportunities for underwriters.  The Bureau of Labor Statistics (BLS) reports 33,000 openings for underwriters through 2020.  In addition, the insurance industry follows society, so where there is growth in areas like energy, transportation and healthcare, there is opportunity in underwriting risks in those areas. Mr. Miller says The Institutes …