Data/Tech/Modeling EMERGING TRENDS FEATURED Homeowner/Renter/Auto INDUSTRY NEWS Legislation/Regulation Recent Stories Working in Risk & Insurance WRIN.tv Newswire III CEO sees “Disruption Continuum” as New Norm for insurers. Insurance Information Institute (I.I.I.) CEO Sean Kevelighan sees the “disruption continuum” as the “new normal” for the insurance industry, and outlines the ways insurers can embrace resiliency when contending with catastrophes, geopolitical unrest, technological change. He says the I.I.I. will “be doing our best to fulfill our mission, and hopefully it will promote a positive sense of the disruption that’s … Read More
Claims Management Data/Tech/Modeling INDUSTRY NEWS Reinsurance Markets WRIN.tv Newswire Industry learning as it copes with $100B in losses from 2017 hurricanes – RMS. 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 … Read More
INDUSTRY NEWS Legislation/Regulation Markets Reinsurance Markets WRIN.tv Newswire Does Brexit / U.S. election signal unraveling of belief that “international trade is good”? – ABIR CEO. WRIN.tv catches up with Bradley Kading, President and Executive Director of the Association of Bermuda Insurers and Reinsurers (ABIR), to discuss the state of the Bermuda (re)insurance market, international concerns over Brexit and the U.S. presidential election, and opportunities he sees on the horizon. The Bermuda market suffered from soft pricing in 2016, with the ability to earn a profit … Read More
Data/Tech/Modeling FEATURED INDUSTRY NEWS Recent Stories WRIN.tv Newswire Income Disparity, Climate, Polarization, Cyber & Aging Top WEF Global Risk Report The Global Risks Report 2017, published at The World Economic Forum in Davos, features perspectives from nearly 750 experts on the perceived impact and likelihood of 30 prevalent global risks as well as 13 underlying trends that could amplify them or alter the interconnections between them over a 10-year time-frame. This year’s findings include five key challenges that the world … Read More
EMERGING TRENDS Reinsurance Markets New Technologies, Terror Risk and emerging opps in cyber, flood & mortgage risk – Holborn’s Dougherty WRIN.tv speaks with Arthur Dougherty, SVP at Holborn, about new technologies, terror risk and emerging markets in cyber risk, flood and mortgage insurance. Hurricane Matthew could have had a big impact on the reinsurance market, but it changed course and the size of the loss will not have an effect on the market. While some cedents may have significant losses, … Read More
COMMERCIAL RISK Corporate Risk Management/ERM P&C Specialty Lines The risks of the religious…and opportunities in assisted living & not-for-profits – Church Mutual CEO Richard Poirier is CEO of Church Mutual Insurance, which focuses primarily on the risks of faith-based ministries, as well as public schools, assisted living facilities, non-profits and secular and religious camps. Mr. Poirier points out some risks to physical plants of social service facilities, including workplace violence, active shooters, cyber security, and the unpredictable weather. According to Mr. Poirier, flood … Read More
Claims Management Data/Tech/Modeling Reinsurance Markets Matthew’s $4-6B losses to hit primary insurers & NFIP – now backed by reinsurance. Hurricane Matthew was the largest tropical storm to hit the Southeastern US in over a decade, causing billions of dollars in insured losses and threatening the National Flood Insurance Program, which recently announced it would acquire reinsurance. CoreLogic estimates that Matthew will have caused an estimated $4 to 6 billion in insured property losses, 90 percent from wind, 10 percent from storm … Read More
CONSUMER RISK Homeowner/Renter/Auto Reinsurance Markets REINSURANCE/ILS Louisiana floods to hit reinsurance – push FEMA to change Flood Maps More than 60,000 homes have been damaged in 20 parishes impacted by recent flooding in Louisiana. According to Louisiana’s Office of Homeland Security and Emergency Preparedness, 75% of homes are a “total loss” in Livingston. U.S. flood events are largely paid for by the FEMA’s National Flood Insurance Program (NFIP) and applicable primary insurance. The office of Louisiana Governor John Bel Edwards … Read More
Agents/Brokers/Consultants FEATURED Recent Stories Broker ability to aggregate data and create insurance solutions is driving growth in Program Business. According to Jamie Miller, Head of Property North America at Swiss Re, the biggest factors driving market conditions in the property market are over capacity driven by a lack of natural catastrophe losses. He sees a large number of carriers entering the excess and surplus (E&S) lines market as a result. With favorable market conditions and low cat losses, oversupply … Read More
Homeowner/Renter/Auto INDUSTRY NEWS Markets P&C Recent Stories How to finance and protect against extreme events Extreme events can destroy lives, disrupt economies and have devastating consequences to the insurance sector. At the 2015 IIS Global Insurance Forum, WRIN.tv spoke with Professor Howard Kunreuther, a Professor of Decision Sciences and Business Economics and Public Policy at the Wharton Business School. He discussed the role of public-private partnerships in managing risks to extreme events. Highlights of his … Read More
Homeowner/Renter/Auto P&C Extreme events like earthquake, flood and terror, require “public” participation in insurance Howard Kunreuther a Professor of Decision Sciences and Business Economics and Public Policy at the Wharton Business School, describes the type of risks associated with extreme events. He describes an extreme event as “an event that has a very low probability of occurrence, but …can create very serious consequences.” Three examples of an extreme event include flood risk, terrorism and … Read More
