In this edition of “Focus”, WRIN.tv speaks with Bob Rusbuldt, President & CEO of the Independent Insurance Agents & Brokers of America (IIABA) about the health of “Independent Agents”, which Mr. Rusbuldt describes as “robust and well.” Mr. Rusbuldt notes an Agency Universe Study of the independent agency system, conducted by the “Big I”, which found that revenues are up, …

According to Stefan Holzberger, Chief Rating Officer at A.M. Best, the property-casualty sector of the insurance industry saw improvements in performance. And with levels of capitalization “robust”, A.M. Best is maintaining a “Stable Outlook” on the Personal Lines, Commercial Lines and Reinsurance sector from a credit perspective. The reinsurance sector was only recently upgraded to “Stable” from “Negative”, despite heavy …

Cyber risk and insurance continue to evolve, but the insurtech explosion is the real news at the moment, according to Gavin Souter, Editor of Business Insurance. Like all things related to technology, cyber insurance is evolving rapidly. Insurers and brokers are keen to sell cyber policies, but commercial buyers do not believe the insurance offered is enough to cover their …

Craig Bedell, Global Insurance Industry Executive at IBM, sees many challenges facing the insurance industry, including the buying habits of personal lines or commercial lines customers. New data and technologies are mitigating, but sometimes increasing risks faced by consumers. Security and privacy surrounding risk information is also important for insurers. Even more basic, according to Mr. Bedell, is the changing …

The 2017 Hurricane Season brought over $100 billion in insured losses. According to John Kapitan, an SVP at RMS, “the (insurance) industry has coped well.” There are numerous improvements in the industry since the storms of 2004/2005. The industry is better capitalized, (over $600 billion). From a risk management perspective, Mr. Kapitan says few insurers or reinsurers were surprised by …

A.M. Best Vice President Andrew Colannino explains the rating agency’s ‘negative’ outlook on the commercial lines segment of the U.S. property/casualty (P&C) industry, despite relatively solid aggregate results over the past several years. He says A.M. Best’s expects more downgrades than upgrades in the coming year. The negative outlook largely reflects the concerns that have been prevalent in recent years: …

Low interest rates, pressure on pricing, M&A activity, and disruptive technology are all shaping the outlook for the risk and(re)insurance industry for 2016. Here, WRIN.tv summarizes several of the recent forecasts published by industry analysts and thought leaders. Swiss Re sees economic momentum supporting growth in the insurance sector, even with headwinds like slower growth in China, lower commodity prices …

John Horton, EVP and Chief Marketing Officer at AMRISC, speaks with WRIN.tv about lessons learned in ten years since Hurricane Katrina, the still-softening property insurance market, alternative capital, big data risks and more. Ten years after Katrina, and beyond the human tragedy and poor government response, the insurance industry has seen many changes in demand surge and storm surge. Demand …

Prior to an arm of Fosun Group announcing intentions to acquire the 80% of Ironshore it doesn’t already own, WRIN.tv spoke with Ironshore CEO Kevin Kelley during the RIMS Conference in New Orleans. Here, he discusses the top concerns of risk managers, the impact of the Affordable Care Act (ACA) on the insurance industry, and Ironshore’s growth plans for the …

Eighteen states have enacted reforms that put limits on the expensive practice of doctors writing and dispensing prescriptions from their office. Here, Dongchunn Wang, an Economist at the Workers Compensation Research Institute (WCRI), reviews a WCRI study that exposes ways physicians go around the restrictions. According to Ms. Wang, physicians are prescribing and dispensing drugs to their patients at their …

Dr. Robert Hartwig, President of the insurance Information Institute (III) joins WRIN.tv for a broad discussion about the U.S. National Flood Insurance Program, Florida Citizen’s withdrawal from the hurricane insurance market, TRIA and cyberattacks and drone liability: Broke National Flood Program an entitlement mostly for coastal dwellers Florida Citizen’s withdrawal good news for insurers, and reinsurers State sponsored cyber-attacks fall …

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, …

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 …

Spring is in the air, but insurers and residents of the eastern U.S. are still dealing with the aftermath of a severe winter. According to an Aon Benfield report, insured losses from winter weather events are expected to top $1 billion. As of March 9, Boston was less than 2 inches away from the all-time seasonal high for snowfall, and …

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 …

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 …

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 …

Cargo theft takes up a lot of attention at the National Insurance Crime Bureau (NICB), according to NICB Chief Communications Roger Morris. “Why steal from a bank and risk 30 years in prison for $10,000, when you can steal a load of cargo for a million dollars and very little chance of being caught?” Many hard-core thieves have moved from …

Roger Morris from the National Insurance Crime Bureau (NICB) tells WRIN.tv that cybercrime and Identity Theft are “huge problems. The NICB Chief Communications Officer. A recent survey of insurance companies has now officially engaged the NICB. According to Mr. Morris, the insurance industry is principally concerned with Identity Theft.  During the underwriting and/or claims proves, Mr. Morris says it is …

Roger Morris, Chief Communications Officer at the National Insurance Crime Bureau (NICB) says employees who take advantage of the system are driving up workers compensation costs in the United States. Mr. Morris notes that “malingering” is a major contributor to fraud in workers comp.  Malingering happens when an employee collects indemnity checks and drives up medical costs beyond the period …