A.M. Best negative on Russian market due to oil, economy, sanctions, lack of quality. In a recent edition of First Monday, host John Weber welcomed Deniese Imoukhuede, Associate Director of Analytics, to discuss the Russian market. With crude oil prices collapsed and the Ruble valuation low, the Central Bank of Russia raised interest rates from 10.5% to 17% in December 2014. And with continuing economic sanctions against Russia putting further pressure on the economy, … Read More
Advanced Persistent Threats (APTs) exploit employees to beat cybersecurity In another edition of ACORD’s TechTalk, host Johnell Johnson welcomes Eric Qualkenbush, a Director with BLACKOPS Partners, who retired from the Central Intelligence Agency (CIA). He focuses on cybersecurity and the “insider threat.” Mr. Qualkenbush says most cyber security companies focus on technical solutions, and do not pay enough attention to the human element. In fact, he says, most cyber-attacks … Read More
RAA President on alternative capital, standards, FIO, tax reform and growth 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 … Read More
Monday Morning Headlines: Feb. 9, 2015 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: Cyber-attack on Anthem affects millions…Breached data limited Coalition urges Fed to proceed slowly on insurer capital standards Florida Insurance Commissioner keeps job amid political tempest Allstate commits to advertising Esurance despite deteriorating … Read More
WRIN.tv Week in Review: February 2 – 6, 2015 Last week on World Risk and Insurance News…. Monday Morning Headlines from SNL Insurance featured NAIC’s IT guidance for Cybersecurity; Florida’s Governor seeking advice on new insurance commissioner; the PartnerRe/AXIS Capital merger is expected to create the 5th largest P&C reinsurer, ACE’s CEO commenting on consolidation in reinsurance , Progressive’s declining agency auto business, and Travelers’ ascent. Retired General Keith … Read More
CEO Panel discusses auto insurance outlook, tech investments & disciplined underwriting for better ROEs Through a special arrangement with ACORD, WRIN.tv offers a glimpse of what went on during the CEO Panel that took place during the Joint Industry Forum in New York. On the panel were Paula Downey from California State Auto, Jaime Tamayo from MAPFRE U.S.A., Christopher Swift from The Hartford, Steven Linkous from The Harford Mutual Insurance Companies, Thomas Lawson from … Read More
Expert Panel on terror risk, commercial lines, reinsurance and auto insurance Through a special arrangement with ACORD, WRIN.tv offers a glimpse of what went on during the Expert Panel that took place during the Joint Industry Forum in New York. On the panel were V.J. Dowling from Dowling & Partners, Thomas Leonardi from Evercore Partners, Matthew Mosher from A.M. Best, Howard Kunreuther from the Wharton School, Randy Kunreuther from the law … Read More
New Capital, Capital Standards & Regulatory Compliance spell “trouble” for insurers Howard Mills is a Senior Advisor at Deloitte. Recently, he spoke with WRIN.tv about issues surrounding capital in the (re)insurance industry, as well as global and U.S. regulatory efforts to develop appropriate capital standards. Mr. Mills says the impact of “new capital” coming into the insurance market is a key issue in 2015. He wonders if new entrants into the … Read More
Monday Morning Headlines: February 2, 2015 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 … Read More
WRIN.tv Week in Review: January 26-30, 2015 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 … Read More
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
Life and Annuity insurers get “Stable” Outlook from A.M. Best…see why. As part of the First Monday series, A.M. Best’s Vice President Stephen Irwin discusses the rating agency’s rationale for a “Stable” outlook for the Life/Annuity sector. According to Mr. Irwin, the “Stable” outlook is due to “a number of positive signs including the improving U.S. economy, relatively low inflation, improving employment picture…(and) very low credit impairments, which is a positive to reported … Read More
A.M. Best maintains “Negative” Outlook for Global Reinsurers. Here’s why… In a recent edition of First Monday series, A.M. Best’s Managing Senior Financial Analyst Greg Reisner discusses the rationale for the rating agency’s “Negative” outlook for the global Reinsurance sector. According to Mr. Reisner, “We have the same three themes we have had for a while, pressure on rates….low yield environment and…earnings dependent upon loss reserve development…” Earnings have been … Read More
AIA’s Pusey on tax reform, foreign trade, tort reform, global capital standards and more. 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 … Read More
Affordable Care Act supports “Stable” Outlook for Health Insurers – A.M. Best In a recent edition of First Monday, Sally Rosen, Assistant Vice President Life/Health, discussed the rationale for A.M. Best’s “Stable” outlook for the Health insurance segment. According to Ms. Rosen, “2014 was the first year…where many aspects of the Affordable Care Act came together…Overall. Health insurer earnings remain favorable…most have remained adequately or more than adequately capitalized for the level … Read More
Monday Morning Headlines: January 26, 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: President Obama Talks Terror, Cybersecurity, Climate Change and ACA in State of the Union Address Dept. of Homeland Security Wants Cyber Incident Repository for Insurance Industry New York DFS to Issue Cybersecurity Guidance … Read More
WRIN.tv Week in Review January 19-23, 2015 Last week on WRIN.tv… Monday Morning Headlines, provided by SNL Insurance, included: FSOC meeting to consider changes to SIFI designation process. MetLife taking opposition to its “premature” SIFI designation to court. The Federal Reserve is beefing up its insurance team. Lots of movement among insurance regulators at the NAIC, as well as Pennsylvania and Texas And Aon Impact Forecasting reported … Read More
The Institutes President/CEO talks about the underwriting profession of today…and tomorrow 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 … Read More
ABIR’s Brad Kading on Bermuda after 2014 hurricanes, regulation, new capital, growth and more. 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 … Read More
Stable outlook for Personal Lines carriers – A.M. Best In a recent edition of A.M. Best’s First Monday series, Vice President Rich Attanasio discusses the rationale for a “Stable” outlook for the Personal Lines segment. According to Mr. Attanasio, A/M/ Best’s stable outlook for Personal Lines “reflects robust risk adjusted capitalization, consistent performance in the auto line…as well as improving trends on the property line.“ In addition, insurers are using more … Read More