Auto/Marine/Aviation COMMERCIAL RISK Education/Certification EMERGING TRENDS FEATURED Recent Stories WRIN.tv Newswire Strong economy, construction/transportation trends bode well for inland marine – IMUA & Allianz Execs For the inland marine market, business is good…and emerging technology, new educational opportunities and growth in the construction market all point to a strong year ahead. In this AAIS Advisory Report, AAIS President and CEO Ed Kelly speaks with Kevin O’Brien, President & CEO of IMUA, as well as Rich Soja, the Global Head of Inland Marine at Allianz Global Corporate … Read More
FEATURED ILS & Capital Markets REINSURANCE/ILS WRIN.tv Newswire Robust Reinsurance Market Not Without its Challenges – RAA CEO. “The reinsurance market continues to be robust” according to Frank Nutter, CEO of the Reinsurance Association of America (RAA). Brokers report that capital in the market has increased, and it was a relatively “low catastrophe” year. Among the concerns and challenges facing reinsurers, cyber exposure, the reauthorization of the Terrorism Risk Insurance Act (TRIA), and the retrocessional market. The industry … Read More
Data/Tech/Modeling EMERGING TRENDS FEATURED Homeowner/Renter/Auto P&C Recent Stories Working in Risk & Insurance WRIN.tv Newswire Insurers still face challenges from Resilience, Cyber, Talent Gap & Global Affairs Insurance Information Institute (III) Chief Administrative Officer Laura Favinger shares her thoughts on major issues facing the U.S. insurance industry, including insurer and policyholder resilience, technology and cyber risk, the industry’s talent gap and global economic and political upheaval. For insurance customer, including homeowners and renters, Ms. Favinger addresses the need to ensure proper insurance coverage, “the right types, the … Read More
Data/Tech/Modeling FEATURED INDUSTRY NEWS Legislation/Regulation P&C Working in Risk & Insurance WRIN.tv Newswire With DRRA signed, work continues on TRIA and NFIP – NAMIC CEO. National Association of Mutual Insurance Companies (NAMIC) President and CEO Chuck Chamness shared his thoughts on recent legislative successes and challenges during the recent NAMIC’s Annual Convention in National Harbor, MD. Mr. Chamness highlighted the Disaster Recovery and Reform Act (DRRA), signed into law in 2018, as a significant legislative success benefitting insurance companies and the members they serve. DRRA, … Read More
EMERGING TRENDS Legislation/Regulation National Flood & TRIA Remain Top Legislative Issues in New Congress – NAMIC CEO Chuck Chamness, CEO of the National Association of Mutual Insurance Companies (NAMIC), discusses the challenges of working with a new Congress. He notes that there several major issues to address with the House Financial Services Committee, Senate Banking and the Trump Administration such as the National Flood Insurance Program (NFIP) and the Terror Risk Insurance Act (TRIA). Mr. Chamness points … Read More
FEATURED ILS & Capital Markets Markets Recent Stories Reinsurance Markets REINSURANCE/ILS WRIN.tv Newswire US Reinsurance Market “Healthy” While Facing New Threats & Opportunities The U.S. reinsurance market is very healthy. That according to Frank Nutter, President of the Reinsurance Association of America (RAA). Mr. Nutter says capital positions have been “strong and growing” thanks, in part to alternative capital vehicles. Market conditions are “very competitive” due to the amount of supply outpacing demand. Catastrophe losses continue to be a challenge, a threat, for … Read More
AMBest-Channel FEATURED ILS & Capital Markets Markets P&C Reinsurance Markets REINSURANCE/ILS WRIN.tv Newswire Reinsurance upgraded to “Stable” as A.M. Best cites possible “inflection point” 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 … Read More
Data/Tech/Modeling FEATURED INDUSTRY NEWS Recent Stories WRIN.tv Newswire US Federal Government will get “Worse Before It Gets Worse” – APCIA CEO David Sampson, president and CEO of the American Property Casualty Insurance Association (APCIA), discusses the challenges he faces in dealing with a dysfunctional government, the priorities for the year ahead, and the strength gained by the recent merger of the Property Casualty Insurers Association of America (PCI) with the American Insurance Association (AIA). During the 2019 Federal Government shutdown, Mr. … Read More
Education/Certification EMERGING TRENDS FEATURED Homeowner/Renter/Auto INDUSTRY NEWS P&C Recent Stories Workers Comp WRIN.tv Newswire GDP, Cyber, Flood, Technology, Talent and more on III radar heading to 2019 The uptick in GDP has had a positive impact on the insurance industry, according to Laura Favinger, Chief Administrative Officer for the Insurance Information Institute (III). In the first half of 2018, insurance carriers nearly doubled their net income over the same period in 2017. The III sees exposures broadening a bit due to business development, consumer consumption and construction, … Read More
COMMERCIAL RISK Data/Tech/Modeling EMERGING TRENDS FEATURED Homeowner/Renter/Auto Life Insurance P&C Recent Stories Cyber cover evolves as insurtech explodes – Business Insurance editor 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 … Read More
AMBest-Channel EMERGING TRENDS FEATURED INDUSTRY NEWS Markets WRIN.tv Newswire The “Protection Gap”, Technology…and the risk of “Complacency” Andrea Keenen, Senior Managing Director and Head of Industry Relations at A.M. Best Company, shares her thoughts on the “protection gap”, technology, and the impact of economic growth on insurance. The “protection gap” exists around the world, including the United States. Many people are simply not buying the insurance they need. She notes that governments around the work and the … Read More
CONSUMER RISK EMERGING TRENDS FEATURED Homeowner/Renter/Auto Life Insurance Recent Stories WRIN.tv Newswire “Amazoned” consumers present challenges & opportunities to personal lines insurers. According to Sean Kevelighan, President & CEO of the Insurance Information Institute (III), says catastrophes, both natural and man-made, are having a large impact on personal lines insurance carriers. An increase in natural catastrophe has an impact on auto and homeowner’s insurance, and the “vastly underserved” flood market continues to be an issue. The auto insurance market is being impacted … Read More
CAREERS/PROFESSIONAL DEVELOPMENT Data/Tech/Modeling EMERGING TRENDS FEATURED INDUSTRY NEWS Recent Stories Uncategorized Working in Risk & Insurance Looking ahead…Automation, Robotics and AI could help fill “Talent Gap” Autonomous vehicles will have a huge impact on the personal insurance industry. Automation, robotics and the potential for on-shoring of manufacturing could have a major impact in the commercial insurance space. That, according to Kevin Surace, renowned American technology innovator, speaker, creator of a AI Based Software QA platform, and Inc. Magazine’s 2009 entrepreneur of the Year. He adds that … Read More
Data/Tech/Modeling INDUSTRY NEWS Legislation/Regulation Recent Stories WRIN.tv Newswire “Get involved” to understand regulators, technology and millennials. Regulation and technology are the biggest challenges facing insurers today. That, according to Fred Karlinsky, Co-Chair of the Insurance Regulatory and Transactions Practice Group at Greenberg Traurig. On the regulatory front, Mr. Karlinsky notes a large amount of regulation affecting carriers at the federal and State level, as well as internationally at the IIAS (International Association of Insurance Supervisors). He … Read More
Data/Tech/Modeling EMERGING TRENDS FEATURED INDUSTRY NEWS Customer centricity, together with technologies and re-engineering creates “Magic.” According to James Dodge, the “umbrella disruptors” to the insurance industry are the Internet of Things (IoT) along with the data it provides and the cyber risk that is inherent. Mr. Dodge is Practice Leader, Advanced Analytics & Data Solutions at Milliman. He sees profound changes in computing technologies and the “as a service cloud business model” mitigating the advantages … Read More
FEATURED INDUSTRY NEWS Markets Recent Stories WRIN.tv Newswire Insurance industry joins with UN, World Bank to tackle global risks. In this edition of WRIN.tv’s Wide World of Risk, Mike Morrissey, President and CEO of the International Insurance Society, provides insight from his discussions with insurance company CEOs the world over. He sites four recurring themes dominating the minds of CEOs, including cyber risk, environmental risks, humanitarian disasters and insurtech. Mr. Morrissey says the “disaster aid mechanism that the world … Read More
Data/Tech/Modeling EMERGING TRENDS Homeowner/Renter/Auto INDUSTRY NEWS Recent Stories Specialty Lines WRIN.tv Newswire Cyber Update: Ransom-ware of Things, Malware as a Service Industry, Risk Management Tips. Emy Donavan, Global Head of Cyber at Allianz Global Corporate & Specialty, provides an update on the world of cyber risk, including an increase in attacks on consumer devices, malware as a business, and tips for risk managers looking to prepare for inevitable attacks. More recent developments in cyber risk include an increase in attacks on consumer devices such as … Read More
Auto/Marine/Aviation COMMERCIAL RISK Corporate Risk Management/ERM EMERGING TRENDS Recent Stories WRIN.tv Newswire Drones…The emerging risks and risk management strategies. Lorie Masters, a Partner at Perkins Coie, looks at the risks associated with operating Unmanned Aerial Vehicles (UAVs) and drones, for operations and provides advice on ways to manage them. While still at the dawn in the use of UAVs, Ms. Coie sees several risks emerging from their use, including first-party risks associated with the cost of the drone, and … Read More
FEATURED INDUSTRY NEWS Legislation/Regulation P&C WRIN.tv Newswire PCI CEO on “tipping point” in regulation, a Trump administration, NFIP & growth. WRIN.tv speaks with David Sampson, President and CEO of the Property Casualty Insurers Association of America (PCI), about trends in insurance regulation, the new Trump administration, the National Flood Insurance Program (NFIP) and growth in cyber and energy-related sectors. Mr. Sampson believes the industry had reached a “tipping point” In 2016 with regard to State insurance regulators overstepping their authority. … Read More
COMMERCIAL RISK Corporate Risk Management/ERM Data/Tech/Modeling FEATURED Recent Stories Politics & Hacking, Yahoo & Breaches…The Growing Cyber Risk Environment. Amidst accusations that Russia was involved in hacking that affected the U.S. Presidential election, President-elect Donald Trump met with executives from some of the largest technology companies to discuss support for their businesses …once he takes office. Yahoo announced that it had suffered the largest cyber breach in history back in 2013, exposing more than one billion accounts, double the … Read More