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 …

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: U.S. regulators say international capital standard must be good for U.S. Premera Blue Cross working with FBI after cyberattack affecting 11 million NAIC keeps captive financials confidential to stem public confusion Life …

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 …

There is a mixed outlook for the U.S. Property and Casualty industry according to A.M. Best. While the industry as a whole is on its second straight year to a strong performance competitive pressure and emerging risks could impact insurers bottom lines. Here, Group Vice President Anthony Diodato discusses the reasons for concern for the U.S. Property and Casualty Industry …

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 …

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: FIO sees cyber insurance as deterrent to cyberattacks…u/w guidelines coming Aon Benfield says winter weather losses could top $1 billion Sharp premium decline affects Citizens’ net underwriting income Deloitte reports reinsurance M&As …

The low-interest rate environment has had a negative impact on Life and Annuity insurers causing them to redesign and re-price products with less generous features. In highlights from A.M. Best’s First Monday series, Vice President Steven Irwin and Assistant Vice President Rosemarie Mirabella review the challenges and opportunities within the U.S. Life/Annuity sector. According to Mr. Irwin “A.M. Best has …

WRIN.tv caught up with Greg Wojciechowski, President of the Bermuda Stock Exchange (BSX), at the SIFMA IRLS Conference.  He gives his perspective on the growth in the Cat Bond market and its impact on the Bermuda market, which is the leading global domicile for ILS with about $16 billion listed on the BSX. There were about 115 listed securities on …

It was a record year for Insurance Linked Securities in 2014, and new approaches to alternative capital are have emerged. Here Tom Johansmeyer, AVP Reinsurance Services at ISO, speaks with WRIN.tv about Cat Bond Lite at the recent IRLS Conference in New York. According to Mr. Johansmeyer, Cat Bond Lite “is a streamlined way to transfer risk in a securitized format.” It …

World Risk and Insurance News speaks with Paul Schultz, President of AonBenfield Securities, about current trends in the insurance linked securities and Cat Bond market, as well as the evolving role of the reinsurance broker in executing these deals. According to Mr. Schultz, “2014 was a big year for Cat bonds and collateralized reinsurance.” There were a couple of very large …

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: IAIS Task Force on cybersecurity includes NAIC and FIO, not the Fed Courts give FSOC to respond to MetLife SIFI challenge XL CEO says size matters… Aon Benfield CEO sees broker role …

On March 1, Grayscale Investments announced that it had received regulatory approval from FINRA to trade its Bitcoin currency on an electronic platform operated by the OTC Markets Group. Experts believe this could pave the way for more stability in the price of Bitcoin. Here, Ty Sagalow, president of Innovation Insurance Group, discusses recent developments in Bitcoin and its potential …

WRIN.tv reports from SIFMA’s Insurance and Risk Linked Securities (IRLS) Conference in New York, where the discussion centered on the record-setting insurance linked securities (ILS) and catastrophe bond markets. Here, Standard and Poor’s Director Gary Martucci discusses the drivers of growth in alternative capital and if it will continue. According to Mr. Martucci, he does expect 2015 to be an …

Dr. Robert Hartwig, President of the Insurance Information Institute (III), shares his outlook on key segments of the insurance industry, including the commercial P&C market, personal lines, agents and brokers, and reinsurance. Among the highlights: Economy, jobs, infrastructure investment hitting Commercial P&C market Millennials postponing household formation affecting Personal Lines Insurance agents/brokers still consolidating and attracting next gen Will return …

Dr. Robert Hartwig, President of the Insurance Information Institute (III), joins WRIN.tv for a broad discussion on the impact of economic conditions on the insurance industry, cyber risk, and growth opportunities. Among the highlights: Economic tailwinds and interest rate headwinds are affecting insurers It’s “early days” of rapidly evolving cyber risk and cyber insurance Is “risk management” at risk with growth …