Credit-based insurance scoring has been a factor in classifying risk for many years. However, legislatures across the U.S. are looking to limit the use of certain information in the underwriting of consumer risk.
In this first edition of Property Casualty Briefing, Jeffrey Junkas, Regional Manager of State Government Relations with the Property Casualty Insurers Association of America (PCI) discusses the legislative efforts to curtail the use of credit-based insurance scoring and other threats to underwriting freedom being considered across the U.S.
The “Property Casualty Briefing”, sponsored by PCI, provides insight on public policy, recent legislation and regulation, economic data and trend analysis, and other issues important to consumers and the property and casualty industry. PCI and WRIN.tv will produce Property Casualty Briefings at least once each month to ensure those in the industry are kept informed on a timely basis.
For more information on issues affecting the U.S. Property Casualty insurance community, visit the PCI website.
PCI General Counsel Randi Cigelnik had just returned from the IAIS Meeting in Amsterdam when WRIN.tv spoke with her at the recent IAIS meeting in Amsterdam. Watch more
Comments(0) 31 Oct 2014
WRIN.tv spoke with Sridhar Manyem Director and ERM Specialist at S&P, about the results of the ERM Review. While the results looked closely at the progress P&C companies are making toward implementation of Enterprise Risk Management. Watch more
Comments(0) 30 Oct 2014
Property underwriters are facing a number of significant issues these days, including TRIA reauthorization, evolving risk models, alternative market solutions on the reinsurance side, and more. Watch more
World Risk and Insurance News (WRIN.tv) speaks with Conan Ward during the PCI Annual Meeting in Scottsdale. The CEO of Hamilton Insurance–U.S. says the market for small to medium sized risk is vibrant. “It’s really a function of how well you can execute...” Watch more
Comments(0) 29 Oct 2014
WRIN.tv spoke with Bill Donnell, President of U.S. P&C for Swiss Re during the PCI Meeting in Scottsdale. He addresses growth in the industry, TRIA reauthorization, and the impact of alternative capital on reinsurance. Watch more
WRIN.tv caught up with Bob Restrepo, who completes his term as PCI Chair at the Annual Meeting of the Property Casualty Insurers Association of America (PCI) in Arizona. Here, the Chairman and CEO of State Auto Insurance Companies talks about the hot topics at this year’s PCI meeting. Watch more
Comments(0) 28 Oct 2014
Climate change and global warming remain long-term concerns by risk managers. WRIN.tv speaks with Jesper Theilgaard, noted Danish meteorologist and climate expert, who was the keynote speaker at the Annual FERMA Seminar Watch more
Questions about regulation remain top of mind for insurance professionals. WRIN.tv spoke to Howard Mills, Director at Deloitte, for his assessment on issues like FIO, TRIA, and SIFI designation at the S&L M&A Symposium. Watch more
Comments(0) 27 Oct 2014
Monday Morning Headlines: Bermuda recovering from back-to-back storms; IAIS develops basic capital requirements for G-SIIs; Willis Group Holdings releases 2015 insurance market forecast; Insurers pressured to back House TRIA bill; ACE CEO Greenberg: Failure to renew TRIA 'shameful,' 'bad for business'; ACE limiting Ebola exposure on 'case-by-case' basis. And more. Watch more
Comments(0) 26 Oct 2014
Monday Morning Headlines; Eye on the Storm, SNL’s Annual Insurance M&A Symposiumin: Mike Goldman, COO at NFP,Ed Bonash, CEO of CNO Financial, Alessandro Santoni Director of Risk & Financial Services at Towers Watson, Matthew Hutton a partner at Deloitte, Mike Goldman, COO at NFP; A.M. Best First Monday Watch more
Comments(0) 24 Oct 2014
Senior Financial Analyst, David Blades, from A. M. Best takes a close look at what is driving the positive results in surplus lines, and how they compare to the rest of the property-casualty market. Watch more
Comments(0) 23 Oct 2014
Bermuda passed through the eye of the storm on Friday, October 17, when Hurricane Gonzalo made landfall on the south-central coast of Bermuda as a category two storm. In this edition of “Eye on the Storm”, Scott Stransky, Manager and Senior Scientist at AIR Worldwide, reviews the Hurricane Gonzalo and its impact on Bermuda. Watch more
For some companies, engaging in a merger or acquisition is an important part of a growth strategy. WRIN.tv spoke with Ed Bonach, CEO of the CNO Financial Group, about market and business conditions surrounding today’s M&A strategies. Watch more
Comments(0) 22 Oct 2014
Towers Watson recently released a report looking at the drivers of M&A activity in the U.S. P&C market. WRIN.tv spoke with Alessandro Santoni, Director of the Risk & Financial Services at Towers Watson, about the report during the SNL Insurance M&A Symposium in New York. Watch more
Comments(0) 21 Oct 2014
Mike Goldman, COO at NFP, joins WRIN.tv to discuss some of the challenges facing the life and benefits sector, from the economy, pricing, technology, transparency and more. Watch more
WRIN.tv spoke with Matthew Hutton from Deloitte about the life cycle of mergers and acquisitions, and the importance of due diligence. He says there are four stages in the life cycle of an M&A: M&A strategy; Target Screening; Due Diligence and Transaction execution; and Integration. Watch more
Comments(0) 20 Oct 2014
Monday Morning Headlines: Hurricane Gonzalo; RMS: Next big earthquake in San Francisco Bay Area could cause $200B in losses; Report: More than 10,000 California consumers could lose health coverage under ACA; Moody's reports stable outlook for US P&C personal Ins. Ind.; Accenture: Ins. claim satisfaction not enough to keep customers loyal; Reinsurers' use of multiyear deals should be limited, S&P says; and more. Watch more
Comments(0) 19 Oct 2014
Monday Morning Headlines; Sandy Bigglestone VT Dir Captive Ins., Rod Nofzigerthe OOIDA, Joe Petrelli President of Demotech,Joe Sheerer Stonybrook Capital, Dan Labrie the new Chairman of NRRA; Reinsurance Today with Frank Nutter and Tad Montross Gen Re; SNL M&A Symposium – Scott Littlejohn, BMO Capital Watch more
Comments(0) 18 Oct 2014
WRIN.tv was onsite at the 5th Annual SNL Insurance M&A Symposium in New York, where senior executives from the industry came together with top deal-makers to look at expectations and prospects for mergers and acquisitions in the sector. Watch more
Comments(0) 16 Oct 2014
Demotech has carved out a niche as a rating agency analyzing regional and specialty P&C companies, title insurers, and risk retention groups (RRGs). Here, Demotech President Joe Petrelli discusses the Demontech approach to ratings and the firm’s most recent report on RRGs. Watch more
Comments(0) 15 Oct 2014
With Sandy Elsass stepping down as Chairman of the National Risk Retention Association (NRRA), Dan Labrie stepped into the role at the Annual NRRA Conference in Chicago. He is also President and CEO of the HAI Group. Watch more
Rod Nofziger, the COO of the Owner Operated Independent Drivers Association (OOIDA), spoke with WRIN.tv during the NRRA Conference in Chicago about the meeting and his concerns about new regulations that could have a negative impact on more than just the truckers he represents. Watch more
Comments(0) 14 Oct 2014
WRIN.tv spoke with Sandy Bigglestone, the Director of Captive Insurance in Vermont’s Department of Financial Regulation, about the current state of the captive and RRG market, and why Vermont continues to be an attractive domicile. Watch more
There are several creative strategies emerging that are affecting capital raising, M&As, and risk management. WRIN.tv spoke with Joe Sheerer, founder of Stonybrook Capital, an investment banking and strategic advisory firm, about the different capital management strategies. Watch more
Comments(0) 13 Oct 2014
WRIN.tv’s Reinsurance Today is a new series hosted by Frank Nutter, President of the Reinsurance Association of America (RAA), and focused on news and analysis of the reinsurance marketplace.In this edition of Reinsurance Today, Frank Nutter welcomes Tad Montross, Chairman and CEO of General Re. Watch more
Monday Morning Headlines: Greenberg’s lawsuit vs. AIG moves ahead.;FSOC OKs MetLife request for hearing over possible SIFI designation;Big data: A big deal in a soft insurance market? AIR Worldwide introduces inland flood model for U; SWal-Mart makes health care enrollment play, rattles eHealth shares; and more. Watch more
Comments(0) 12 Oct 2014
Monday Morning Headlines; Continued Coverage of NRRA Annual Meeting with Sandy Elsass, Joe Deems, Skip Myers, Michael Schroeder and Michael Bemi; Cyber Risk Series on Board and C-Suite responsibilities for data breach preparedness; ACORD Tech Talk on Internet of Things; A.M. Best Outlook for Vision Insurers. Watch more
Comments(0) 11 Oct 2014
The Catholic church must manage difficult liability risks, some unique to a global organization with many local outlets. WRIN.tv spoke with Michael Bemi from The National Catholic Risk Retention Group about the distinct challenges he faces. Watch more
Comments(0) 09 Oct 2014
In this edition of ACORD Tech Talk, host Johnell Johnson welcomes Pete Teresi, VP of Standards and Technology from ACORD, for a follow-up discussion on “The Internet of Things." Here, he talks about the future of a connected world, how it will affect our lives, and its impact on the insurance industry. Watch more
Risk Retention Groups (RRGs) are subject to several laws unique within the insurance industry. WRIN.tv spoke with NRRA’s General Counsel Skip Myers, who is also a Senior Partner at Morris, Manning & Martin, about the impact of legislation and regulation on RRGs during NRRA’s Annual Conference in Chicago. Watch more
Comments(0) 08 Oct 2014
A major topic of discussion at the Annual Conference of the National Risk Retention Association (NRRA) was the court battles some risk retention groups (RRGs) have waged to enforce the Liability Risk Retention Act (LRRA). Watch more
Monday Morning Headlines: First look at Q2'14 P&C underwriting results; NAIC, industry groups blast IAIS over lack of transparency; NAIC adopts new monitoring framework for life insurers' captive transactions; Number of homeowners with earthquake coverage declining even as risk grows; Did Ironshore just effectively set its IPO price; Allied World to acquire Hong Kong, Singapore operations of RSA for $215M. Watch more
24 Aug 2014
Monday Morning Headlines are compiled by SNL Insurance and produced by WRIN.tvas a weekly video digest of the news making headlines in the U.S. Insurance industry. Watch more
18 Aug 2014
The pace of change in the insurance industry is hastened by the effective use of data and technology. Here, WRIN.tv speaks with Yodil CEO and Founder Fred Waite, about how “Business Intelligence” is transforming the risk management process, from front-end to back-end. Watch more
21 Aug 2014
A.M. Best recently released its review of the Mexican Insurance market. In highlights from A.M. Best's First Monday series, Alfonso Novelo, Director of Analysis for A.M. Best discusses Mexico’s plans to implement a Solvency II-like risk-based solvency regime in 2015. Watch more
20 Aug 2014
In this edition of "Who Got Caught", noted attorney, claims expert and author Barry Zalma discusses a multi-million dollar health care fraud scheme that was uncovered when a doctor’s estate went into probate after his death. Watch more
19 Aug 2014
Steve White, the vocal CEO of the British Insurance Brokers' Association (BIBA), joins WRIN.tv for a broad discussion on topical issues affecting the UK insurance market, including ‘price-comparison’ Watch more
Monday Morning Headlines: Top writers of California earthquake risk; US P&C industry posts best Q2 statutory underwriting results in several years; Fitch sees consolidation among reinsurers; Citizens Property Ins. Co. targets 'stunning' rate decreases for 2015; Berkshire Hathaway boosted E&S premiums 65% YOY in Q2. Watch more
01 Sep 2014
In this edition of "Who Got Caught", noted attorney, claims expert and author Barry Zalma discusses a $205 million Medicare fraud scheme involving kickbacks for mental health services that were never administered. Watch more
12 Aug 2014
A.M. Best recently released its review of the U.S. captive market, which continued to show positive results. In highlights from A.M. Best's First Monday series, AVP Steve Chirico reviews the paper including issues affecting the U.S. captive market, as well as risk retention groups. Watch more
13 Aug 2014
Monday Morning Headlines: FSOC preliminarily designates MetLife a nonbank SIFI: IAIS' meeting closures prompt warnings; CT. insurance commissioner on NAIC president ;FEMA denies post-Iselle assistance to Hawaii; Fewer than 5% of Californians in quake-hit area owned earthquake insurance. And more Watch more
07 Sep 2014
Hawaii relatively unscathed by Hurricane Iselle, and avoiding Hurricane Julio; Allianz looking to raise airline insurance prices; poor underwriting practices hurting results of commercial auto insurers; WellPoint is changing its name to Anthem; BIBA’s CEO; Mexico plans to implement a Solvency II-like risk-based solvency regime; Who Got Caught – healthcare fraud. Watch more
22 Aug 2014
PCI’s VP of policy and government relations with insights into TRIA’s chances for reauthorization; Hurricane Iselle was a "myth buster"; Insurance fraud scheme involving kickbacks for mental health services; .M. Best’s First Monday series reviewed U.S. Captive market. Watch more
15 Aug 2014
Prior to the 2014 Atlantic Hurricane Season, forecasters predicted that it would be a rather mild year for tropical storms. Here with a mid-season review is Dr. Tim Doggett, Assistant Vice President and Senior Principal Scientist at AIR Worldwide Watch more
25 Aug 2014
Monday Morning Headlines: US hit with more than $4B of economic losses from August natural disasters; TRIA reauthorization; S&P says reinsurers need 2 'shock scenarios' to turn pricing; Reinsurers must innovate to see off threat from Google; Driverless cars, safety features to help reduce claim frequency; And more Watch more
14 Sep 2014
In this edition of ACORD Tech Talk, Pete Teresi, VP of Standards and Technology from Acord, discusses “The Internet of Things”. Watch more
26 Aug 2014
In a recent report on investment allocations, A.M. Best looked at increased investment by U.S. insurers in non-traditional asset classes. In this edition of First Monday, analysts say low interest rates make schedule BA securities more attractive, even though they can be more volatile. Watch more
27 Aug 2014
Returning injured workers to the job as quickly as possible is often better for the worker’s recovery, and for the organization providing workers comp coverage. But the speed of return-to-work can vary based on the individual. Watch more
04 Sep 2014
The number of mergers and acquisitions in the insurance industry fell in 2013 compared to 2012. Here, WRIN.tv speaks with Boris Lukan. Principal in Deloitte’s U.S. Property & Casualty Insurance Consulting practice, about deal activity and the future of M&A in insurance. Watch more
02 Sep 2014
Q2'14 P&C underwriting results; NAIC adopts new monitoring framework for life insurers' captive transactions; Earthquake coverage; Ironshore; ACORD Tech Talk: The Internet of Things. Mid-season Hurricane Report; Insurers are expected to increase investments in BA securities; and more. Watch more
29 Aug 2014
Monday Morning Headlines: Pacific turmoil drops disaster losses on US West Coast; Hawaii to receive some federal aid for post-Iselle cleanup; Brokers highlight reinsurance growth opportunity in public/private partnerships; Insurers should look out for driverless cars; Insurers bought $1.50B in bonds issued by Dodgers regional sports network; and more. Watch more
21 Sep 2014
Top EQ writers in California; US P&C industry Q2 statutory underwriting results; Fitch report on consolidation among reinsurers; Berkshire Hathaway boosted its E&S premiums; new series on Cyber Risk; WCRI on ways to predict injured worker outcomes; M&A activity in the insurance sector. Watch more
05 Sep 2014
WRIN.tv spoke with Corelogic EQECAT President Paul Little about the changes in the CAT risk arena over the past few years, including the influx of new capital, evolving regulation, the growing reliance on modeling and the acquisition of EQECAT by CoreLogic. Watch more
23 Sep 2014
Monday Morning Headlines: FIO annual report highlights importance of non-US reinsurance market, Death Master File issues; SCOR's head of ILS strategies on the future of the market ;Towers Watson poll: Nearly a quarter of employers see private health exchanges as possible alternative; ACA insurers up 25% in 2015, HHS says; Calif. med-mal insurers pour millions into fighting negligence reform initiative; and more. Watch more
28 Sep 2014
Brian Duperreault has had a “Hall of Fame” career. He was inducted in the Insurance Hall of Fame in 2011 and retired in 2012 from MMC. Last year, he formed Hamilton Insurance Group out of Bermuda, designed to focus on property-casualty reinsurance. WRIN.tv spoke with Mr. Duperreault during the RendezVous in Monte Carlo. Watch more
15 Sep 2014
Gen Re Chairman, President and CEO Tad Montross speaks with WRIN.tv at the Monte Carlo RendezVous about the state of the reinsurance market and issues buyers are facing in light of influx of alternative capital. Watch more
17 Sep 2014
According to Andrea Best, head of the London Office of Drinker Biddle & Reath and part of the insurance practice team, there is a major concern among insurance professionals about the increased proliferation of regulation. It seems that “regulators (are) cooperating and competing with each other in a race to see who can do the most regulation for the industry.
Industry executives from Europe and around the world have assembled in Monte Carlo at the RendezVous de Septembre, to discuss the state of the industry in anticipation of upcoming reinsurance renewals.
WRIN.tv’s Reinsurance Today is a new series hosted by Frank Nutter, President of the Reinsurance Association of America (RAA), and focused on news and analysis of the reinsurance marketplace.In this edition of Reinsurance Today, Frank Nutter welcomes Tad Montross, Chairman and CEO of General Re.
President /CEO Lexington Insurance on TRIA reauthorization, regulations, importance of communications and innovation; Cyber Risk Series-importance of crisis mgt, data privacy/security; Interview with Chairman/CEO Arch Worldwide Re and Mortgage Group.
At the RendezVous in Monte Carlo, ANV CEO Matt Fairfield shares his thoughts on the global economy, alternative capital, cyber risk and the impact of litigation on directors and officers.
Lexington Insurance Company President & CEO Jeremy Johnson discusses the management of losses from natural catastrophes, Lexington’s new coverage for unmanned aerial vehicles (drones) and innovation at Lexington.
WRIN.tv speaks with Chris Klein, Head of EMEA Strategy Management at Guy Carpenter, about a range of topics, from the economy and alternative capital, to global warming, terror risk and more.
For the second year in a row, the CAT bond market posted a first-half record for issuance. WRIN.tv speaks with Joe Louwagie from Property Claim Services during the 2014 RendezVous in Monte Carlo about recent develops affecting the CAT Bond market.
The topic of mergers and acquisitions in the reinsurance space has been part of the buzz here in Monte Carlo at the RendezVous de Septembre. Here Joe Beebe, Managing Director the investment bank and broker-dealer Keefe, Bruyette & Woods, speaks with WRIN.tv about what is driving these discussions.
In Part two of our discussion with Chris Klein, Head of EMEA Strategy Management at Guy Carpenter, he talks about difficult risks to manage, including threats from global warming, terrorism, and more.
Bermuda is the world’s leading jurisdiction for reinsurance, capital markets and insurance linked securities, with ILS listings on the Bermuda Stock Exchange estimated at over $10 billion.
Monday Morning Headlines: Fed to evaluate effects of revised regulatory capital framework; Industry fires back against CFA report questioning auto insurance affordability; Reputational damage a risk in wake of UK annuity changes, execs warn; Fla. insurance regulator signs off on removal of up to 215,488 Citizens policies; AmTrust defends co-founders over charity scrutiny.
WRIN.tv coverage of the RendezVous with Hamilton Insurance Brian Duperrault, Gen Re- Tad Montross, ANV CEO Matt Fairfield, AIR Worldwide Ming Lee, Guy Carpenter’s Chris Klein, Artemis Steve Evans, Keefe, Bruyette & Woods, Joe Beebe, …and Joe Louwagie from PCS; NAPSLO Convention Matt Fairfield, Lexington; Brady Kelly, NAPSLO, and Ron Austin, Worldwide Facilities.
WRIN.tv ended its coverage of the RendezVous with Corelogic EQECAT President Paul Little; Brad Adderley a partner at Appleby, and Andrea Best from the law firm of Drinker Biddle & Reath; Continued its coverage of NAPSLO with: NAPCO CEO, AAMGA Executive Director,President of RT Specialty; National Casualty President at Risk Placement Services and AmWINS: NRRA Sandy Elsass, Cyber Risk Series on breaches; and Eye on the Storm Rpt on Hurricane Odile
Monday Morning Headlines: Greenberg’s lawsuit vs. AIG moves ahead.;FSOC OKs MetLife request for hearing over possible SIFI designation;Big data: A big deal in a soft insurance market? AIR Worldwide introduces inland flood model for U; SWal-Mart makes health care enrollment play, rattles eHealth shares; and more.