Dr. Robert Hartwig JIF

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.

Looking ahead to opportunities for growth in the insurance industry, Mr. Hartwig points out the expanding economy in the Unites States, which does not get a lot of press.  Economic growth will help lift workers compensation premiums along with rapidly growing payrolls. While there is a lot of attention on Cyber Insurance, the market is still rather small relative to workers comp.  New auto sales are up, which is a “tail wind for that particular line.”  New home construction will rise in 2015, mostly in multi-family dwellings, which bodes well for personal lines insurers offer renter’s policies.  Overall, the industry is growing at a “modest” 4-4.5% pace..

The full interview can be found here.  For more information on the Joint Industry Forum, visit the WRIN.tv On Demand Library or the Insurance Information Institute website.

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