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 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
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
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
Brokers/Consultants EMERGING TRENDS ILS & Capital Markets Reinsurance Markets REINSURANCE/ILS (Re)insurers seeking growth are running to emerging risks…rather than away – Aon Benfield’s Head of Strategy With losses from Hurricane Mathew and other catastrophe losses, 2016 has seen the highest loss activity in three years. Even so, according to Andrew Marcell, Global Head of Strategy at Aon Benfield, the impact on rates in property reinsurance will be fairly minimal. There are numerous emerging risks from new technologies and the sharing economy. For instance, Aon reports a … Read More
Brokers/Consultants Claims Management Markets Recent Stories Reinsurance Markets REINSURANCE/ILS Lessons from Matthew, Protection Gap & (Re)Insurance Growth Strategies with Swiss Re’s Ningen Monica Ningen, Head Property Underwriting US & Canada at Swiss Re, discusses how Hurricane Matthew served as a reminder for insurers. She also addresses the Protection Gap and product development and distribution strategies evolving in the insurance and reinsurance market. Hurricane Matthew, while not as big a loss as was predicted, was a reminder that a big event is possible. As a … 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
Reinsurance Markets REINSURANCE/ILS Outlook “Negative” for reinsurers in search of relevance – Rating Agencies The 2016 Monte Carlo Rendez-vous drew many of the industry’s top reinsurance professionals to discuss the state of the market. The top ratings agencies also released their verdict on the market. A.M. Best maintained its negative outlook due to weak operating fundamentals exacerbated by continued weakened demand from primary insurers as they retain more business to leverage their own excess capacity. According to … Read More
Homeowner/Renter/Auto P&C Multi year insurance policies could stabilize market for extreme risks, like flood exposures Howard Kunreuther, a Professor of Decision Sciences and Business Economics and Public Policy at the Wharton Business School speaks with WRIN.tv about using multi year insurance policies to cover extreme risk. Professor Kunreuther advocates for the use of multiyear insurance policies to pay for extreme risks. He suggests adding a home improvement-type loan to the policy to encourage mitigation. The … Read More
Homeowner/Renter/Auto Subsidized public-private flood programs should be replaced with risk-based insurance premiums At the 2015 IIS Global Insurance Forum, Howard Kunreuther a Professor of Decision Sciences and Business Economics and Public Policy at the Wharton Business School, discussed the need for public-private partnerships for flood insurance. Professor Kunreuther sees flood risk in need a better public-private partnership program. With flood insurance, you now have highly subsidized rates with no discounts, even if … 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