Chuck Chamness, President and CEO of the National Association of Mutual Insurance Companies (NAMIC), says the industry can take a victory lap after renewal of the Terrorism and Risk Insurance Act (TRIA) for seven years. Social Inflation and “nuclear verdicts” are on everyone’s mind now, according to Mr. Chamness, and NAMIC is studying the causes and potential solutions to judgments …

John Huff, President and CEO of the Association of Bermuda Insurers and Reinsurers (ABIR) discusses the health of the Bermuda market, as well as the challenges and opportunities he sees going forward. According to Mr. Huff, the Bermuda market is “very healthy.” The market is thriving even after the significant natural catastrophes of 2017 and 2018 “nat cats” including Hurricane …

Reinsurance Association of America (RAA) president Frank Nutter comments on the evolution of the “blended model” in reinsurance with alternative capital contributing to the way reinsurance provides capacity to insurance companies, not just in the catastrophe area. He sees reinsurance companies diversifying into the insurance business, viewing capital markets as “largely competitive…and complementary.” Mr. Nutter admits that reinsurers have struggled …

With the property reinsurance market experiencing soft pricing for some time, WRIN.tv spoke with Jim Larkin, Head of Property Underwriting at Munich Re America, about the impact of Hurricane Matthew, and other factors affecting the market. While it is unclear if Hurricane Matthew would have any impact on reinsurance renewals, Mr. Larkin believes the storm was a reminder about the …

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 …

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 …

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: Cincinnati Insurance Co. criticizes IAIS capital standards California Insurance Dept. warns insurers against price optimization FEMA steps in on allegations vs. insurers over Sandy claims Progressive posts first increase in agency auto …

FEMA is in talks with lawyers representing Superstorm Sandy victims to settle customer allegations that insurers denied or underpaid Sandy-related claims based on falsified reports.