WRIN.tv Newswire Price competition fuels favorable market conditions…advantage still with insurance buyer – Lockton. KANSAS CITY, Mo., Dec. 13 2016 /PRNewswire/ — A new update from insurance broker Lockton shows it’s still a buyer’s market in commercial insurance. Major changes have created strong competition, ample capacity and lower prices during the past several years. Lockton’s December 2016 P&C Market Update shows that the competitive landscape continues, as does a soft market. Merger and acquisitions, … Read More
WRIN.tv Newswire 2016 Was The Most Active Atlantic Hurricane Season Since 2012 – I.I.I. Hurricane Season Recap NEW YORK, Dec. 1, 2016 /PRNewswire-USNewswire/ — The 2016 Atlantic hurricane season concluded yesterday with 15 named storms generating seven hurricanes, three of which were considered major ones, according to the Insurance Information Institute (I.I.I.). The National Oceanic and Atmospheric Administration (NOAA) said it was the busiest Atlantic hurricane season since 2012, when 19 named storms developed, and 10 … Read More
ILS & Capital Markets Reinsurance Markets REINSURANCE/ILS Property Reinsurers face up to climate change, “leveling” ILS and broker placement platforms. 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 … 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
Corporate Risk Management/ERM Reinsurance Markets BI is back! Editor Souter reports “good news” for RMs at PCI…and dawn of new day at industry pub. Business Insurance (BI) relaunched its trusted industry magazine this month. BI Editor Gavin Souter joined WRIN.tv at the PCI Annual Meeting in Dallas to report on the “good news” he heard for risk managers at the conference, and to share insights into the changes and editorial focus at the “re-new BI.” Mr. Souter says that news from PCI will be … 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
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
