COMMERCIAL RISK EMERGING TRENDS FEATURED Homeowner/Renter/Auto Legislation/Regulation P&C Specialty Lines Uncategorized WRIN.tv Newswire AAIS CEO on disruptive technology, new economy, regulation & ‘CannaBOP.’ AAIS President and CEO Ed Kelly discusses the major issues industry executives are concerned about heading into 2018, including technology, the new economy and buying behavior, as well as government regulation. While technology remains an enabler in the insurance industry, Mr. Kelly notes that the new uses of technology are the “disruptors.” “We’ve seen that with automation…the use if drones, … Read More
Claims Management FEATURED Homeowner/Renter/Auto INDUSTRY NEWS Recent Stories Reinsurance Markets WRIN.tv Newswire Will 2017 be a record CAT year? – I.I.I. CEO comments. 2017 has been a very active year for catastrophes…and traditional seasons are shifting. That according to Sean Kevelighan, President and CEO of the Insurance Information Institute (I.I.I.). Mr. Kevelighan points to 367 tornadoes in the first quarter of 2017, which surpasses the average of 93 by a large margin. The I.I.I. had estimated an active hurricane season, and forecasts were … 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 Recent Stories REINSURANCE/ILS Uncategorized WRIN.tv Newswire A Trump Administration… Insurance Leaders Comment on Impact to Industry. On the Road at the Joint Industry Forum in New York, WRIN.tv asked several insurance trade association executives to consider the impact of the new Trump Administration on various sectors of the insurance industry. Here, we share the hopes, concerns and expectations of: Michael Morrissey, President & Chief Executive Officer of the International Insurance Society (IIS) David Sampson, President and … Read More
COMMERCIAL RISK Data/Tech/Modeling EMERGING TRENDS Farm & Ag business being revolutionized by the use of drones and data. Leslie Rippley, VP of Commercial and Agricultural Lines at AAIS, looks at ways drones and unmanned aircraft systems (UAS) are changing farm and agriculture business. She believes they will revolutionize the industry; particularly in functions previously done manually, or with the use of expensive, sometimes dangerous planes. Drones are ushering in “Precision Agriculture” where farmers use them to survey large … Read More
Auto/Marine/Aviation EMERGING TRENDS REINSURANCE/ILS Top 3 Reinsurance Challenges & a “Game-Changer” in Auto – Munich Re America Chief Underwriting Officer The top three challenges facing reinsurance underwriters today are too much supply versus demand, new technology and data, and cyber risk. That, according to Martin Neuhaus, Chief Underwriting Officer of the Reinsurance Division at Munich Re America. Mr. Neuhaus says the oversupply of capital demands discipline from underwriters, and new technology and the amount of data now available require underwriters … Read More
EMERGING TRENDS Legislation/Regulation Need to watch Government, “one of your biggest partners” – Greenberg Traurig’s Fred Karlinsky The major legislative issues facing property casualty insurance companies today is that many legislators do not understand the business of insurance. According to Fred Karlinsky, Co-Chair, Insurance Regulatory & Transactions Practice at Greenberg Traurig, since the 2008 financial crisis, the industry is seeing significantly more corporate governance requirements on insurers. He believes there will be continued scrutiny of activities and … Read More
EMERGING TRENDS INDUSTRY NEWS P&C carriers focus on “speed to market” to capitalize on emerging risks – AAIS CEO. AAIS President and CEO Ed Kelly discusses the biggest concerns of insurance executives during the 2016 PCI Meeting in Dallas. While technology is the most common issue, he says it’s not the cost, but “speed to market” that is the real concern. Executives tell Mr. Kelly that they are looking to respond to market opportunities more quickly. Mr. Kelly believes … Read More
Data/Tech/Modeling EMERGING TRENDS AAIS CEO sees opportunities in “disruptors” like transportation networks/drones. AAIS President and CEO Ed Kelly speaks with WRIN.tv about technology challenges and opportunities posed by “disruptors.” While ‘retaining talent’ and ‘competition’ are among the major issues facing all insurers, Mr. Kelly sees technology as the biggest challenge. He says cyber risk is on everyone’s mind, particularly CEOs. Unfortunately, much of the focus for insurers revolves around legacy systems, and should be more about … Read More
FEATURED INDUSTRY NEWS Markets Mutuals have opportunities vs. competitors, despite challenges – NAMIC CEO WRIN.tv spoke with NAMIC President and CEO Chuck Chamness during the Annual Convention of the National Association Mutual Insurance Companies in Vancouver. Mr. Chamness sees the creep of international regulation and technology among the issues facing mutual, and all insurers today. Technologies, he says, can provide ways for Mutuals to stay in touch with the customers…to help policyholders feel part … Read More
INDUSTRY NEWS WRIN.tv Headline News – Week of August 8, 2016 In this edition of WRIN.tv Headline News (click on the headline for the full story): • The 2016 Olympics are underway thanks in part to insurers writing over a billion dollars in coverage for terror, crime, safety and the Zika virus • The augmented reality game Pokemon GO is spawning lawsuits and liability questions • A new RIMS Report provides … Read More
COMMERCIAL RISK EMERGING TRENDS Legislation/Regulation P&C FAA tries to catch up to drones – appoints NAMIC to “Safety Team.” The evolution and innovation in drone technology appears to be outpacing the regulatory process. While initial FAA regulations for commercial drone use go into effect by the end of August, the FAA has assembled an Unmanned Aircraft Safety Team to assess drone-use more closely. The FAA’s Safety Team will provide recommendations to ensure that drones do not put people or … Read More
Accident/Disability Corporate Risk Management/ERM EMERGING TRENDS FEATURED P&C Recent Stories Advice for risk managers dealing with a global economy, drones, the Affordable Care Act and cyber risk Matt Power, EVP and Head of Strategic Development at Lexington, joins WRIN.tv to discuss the global economy, the ten year anniversary of Katrina, the Affordable Care Act and emerging risks from cyber-attacks, drones and more. When Mr. Power considers the economy, he focuses on how technology and globalization have created tremendous “connectivity.” He points to the impact of Greece and … Read More
Data/Tech/Modeling EMERGING TRENDS INDUSTRY NEWS Recent Stories Game-changing, drones come with new risks and evolving regulation The commercial use of drones is expected to grow rapidly as companies like Amazon and UPS look to use drones to support their activities. Drones can potentially change business models for a number of industries, including insurance. Here, A.M. Best AVP Henry Witmer discusses the use of drones, related liability exposures and the underwriting challenges insurers face. According to Mr. … Read More
Claims Management Data/Tech/Modeling FEATURED INDUSTRY NEWS Recent Stories ACORD Tech Talk: The use of Drones in the Insurance Industry In this edition of ACORD Tech Talk, host Johnell Johnson welcomes Kathleen Swain, Innovation Advisor at USAA to discuss the recent approval by the FAA allowing USAA to use drones and the use of drones by insurance companies. According to Ms. Swain, “USAA started researching the use of drones in 2010 and in 2014, filed for two exemptions from the FAA for … Read More
Corporate Risk Management/ERM FEATURED Recent Stories Working in Risk & Insurance Top 3 Risk Manager Challenges: cyber, global expansion and technology – RIMS Executive Director The 2015 Annual RIMS Conference will attract over 10,000 industry professionals to New Orleans. Here with a preview is RIMS Executive Director Mary Roth. According to Ms. Roth, the top challenges facing risk managers heading into the conference are cyber and cyber security, global expansion and technology – including risks associated with technologies within the corporation. Risk managers are becoming … Read More
INDUSTRY NEWS Markets P&C Recent Stories III’s Hartwig on broke NFIP, Citizen’s withdrawal, TRIA grey area, cyber and drones 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 … Read More
EMERGING TRENDS P&C Drones face regulatory scrutiny, but will be a growth area for insurers Dr. Robert Hartwig, President of the insurance Information Institute (III), joins WRIN.tv to discuss the risks from the increasing commercial use of drones. He says a large number of companies, like Amazon, are using drones to deliver merchandise. Insurers are looking to use drones in claims adjusting. Due to U.S. regulatory hurdles, Dr. Hartwig points out that many companies like … Read More