In a world moving quickly, property casualty insurers need to keep their products up-to-date in a timely way, while taking advantage of new technologies used to deliver them. According to Mark Brannon, a Principal at Merlinos & Associates, keeping up with the competition and other changes in the marketplace is a challenge. Many carriers are partnering with companies with advanced …

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 …

In a new report, the Council of Insurance Agents and Brokers (CIAB) says Commercial Property-Casualty rates decreased by an average of 3.9 percent in the second quarter of 2016. Carriers appear to be pricing new business aggressively, while trying to hold rates steady on renewals. According to CIAB President & CEO Ken Crerar, The Council is keeping a close eye …

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 …

Dr. Robert Hartwig, President of the insurance Information Institute (III) says the National Flood Insurance Program (NFIP) is 24 billion in debt, and “no hope of getting out of debt until such time that it charges premiums that more closely approximate the risk it is assuming.” The Biggert’s-Waters Act of 2012 allowed for rate increases, but after negative public reaction, …

WRIN.tv speaks with Catherine Duffy, an SVP with XL Insurance (Bermuda), during the IRMI Energy Risk and Insurance Conference about emerging risks in the oil and gas industry. According to Ms. Duffy, the greatest threats to oil and gas companies “stem from the decrease in oil prices…which is creating talent scarcity and talent retention issues.“ The energy industry is letting …

WRIN.tv’s Monday Morning Headlines, compiled by SNL Insurance, is a video digest of the news you need to know about the U.S. Insurance industry. Today’s Monday Morning Headlines: FIO sees cyber insurance as deterrent to cyberattacks…u/w guidelines coming Aon Benfield says winter weather losses could top $1 billion Sharp premium decline affects Citizens’ net underwriting income Deloitte reports reinsurance M&As …

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 …

A group of large insurers, including MetLife, Prudential, State Farm and others, is urging the Federal Reserve Board to take its time in laying out capital and reporting standards for insurers under its supervision. The Insurance Coalition wrote to Fed Secretary Robert deV. Frierson, voicing concern that the same style and timeline of procedures being proposed for GE Capital could …

Monday Morning Headlines are compiled by SNL Insurance and produced by WRIN.tv as a weekly video digest of the news making headlines in the U.S. Insurance industry.  In this edition of Monday Morning Headlines: President Obama Talks Terror, Cybersecurity, Climate Change and ACA in State of the Union Address Dept. of Homeland Security Wants Cyber Incident Repository for Insurance Industry New York DFS to Issue Cybersecurity Guidance …

World Risk and Insurance News spoke with Brad Kading, President & Executive Director of the Association of Bermuda Insurers and Reinsurers (ABIR), during the recent Joint Industry Forum in New York.  He discussed the impact of the tropical storms that hit the island in October 2014, Bermuda’s efforts to seek Solvency II equivalence, NAIC designation of Bermuda as a “qualified …

Brad Kading, President of ABIR, sees growth in the U.S. coming from shifts in business from State residual insurance markets (i.e. Florida and Texas).  According to Mr. Kading, Reinsurers would like to take on risk coming from the National Flood Insurance Program, (NFIP). Guy Carpenter estimates that $9-12 billion in capacity might be available from the NFIP. In the UK, …

WRIN.tv spoke with Chuck Chamness, President and CEO of the National Association of Mutual Insurers, during the recent Joint Industry Forum in New York. We asked him how Mutuals fared in 2014, and for his comments on international regulatory standards, tort reform, and other issues such as the HUD Disparate Impact Standard. Among the topic Mr. Chamness discussed are:  Post-financial …

WRIN.tv spoke with Chuck Chamness, President and CEO of the National Association of Mutual Insurers, during the recent Joint Industry Forum in New York. We asked him how Mutuals faired in 2014, and for his comments on international regulatory standards, tort reform, and other issues such as the HUD Disparate Impact Standard. With numerous Federal regulation and legislation grabbing headlines …

WRIN.tv spoke with Chuck Chamness, President and CEO of the National Association of Mutual Insurers, during the recent Joint Industry Forum in New York. We asked him how Mutuals faired in 2014, and for his comments on international regulatory standards, tort reform, and other issues such as the HUD Disparate Impact Standard. Through nine months in 2014, Mutual Insurers were …

In a recent edition of A.M. Best’s First Monday series, Andrew Colannino, Vice President of the Property/Casualty Ratings Division, discusses the rationale for the Commercial Lines segment received a negative rating. According to Mr. Colannino, “…there is a slight deficiency in terms of the loss reserves”…(and) with the low interest rate environment, inflationary loss costs, and increased competition, companies have …

World Risk and Insurance News spoke with Mike Morrissey, President and CEO of the International Insurance Society (IIS), during the recent Joint Industry Forum in New York.  Mr. Morrissey believes the tone of discussions at this year’s event was different.  Leaders are talking more about long-term structural changes in the insurance business.   Among the topics Mr. Morrissey discussed are: There …

World Risk and Insurance News spoke with Mike Morrissey, President and CEO of the International Insurance Society (IIS), during the recent Joint Industry Forum in New York.  Mr. Morrissey believes the tone of discussions at this year’s event was different.  Leaders are talking more about long-term structural changes in the insurance business. Mike Morrissey, President and CEO of the International …

World Risk and Insurance News spoke with Mike Morrissey, President and CEO of the International Insurance Society (IIS), during the recent Joint Industry Forum in New York.  Mr. Morrissey believes the tone of discussions at this year’s event was different.  Leaders are talking more about long-term structural changes in the insurance business. Here, WRIN.tv speaks with International Insurance Society (IIS) …