Data/Tech/Modeling EMERGING TRENDS FEATURED Homeowner/Renter/Auto P&C Recent Stories Working in Risk & Insurance WRIN.tv Newswire Insurers still face challenges from Resilience, Cyber, Talent Gap & Global Affairs Insurance Information Institute (III) Chief Administrative Officer Laura Favinger shares her thoughts on major issues facing the U.S. insurance industry, including insurer and policyholder resilience, technology and cyber risk, the industry’s talent gap and global economic and political upheaval. For insurance customer, including homeowners and renters, Ms. Favinger addresses the need to ensure proper insurance coverage, “the right types, the … Read More
Education/Certification EMERGING TRENDS FEATURED Homeowner/Renter/Auto INDUSTRY NEWS P&C Recent Stories Workers Comp WRIN.tv Newswire GDP, Cyber, Flood, Technology, Talent and more on III radar heading to 2019 The uptick in GDP has had a positive impact on the insurance industry, according to Laura Favinger, Chief Administrative Officer for the Insurance Information Institute (III). In the first half of 2018, insurance carriers nearly doubled their net income over the same period in 2017. The III sees exposures broadening a bit due to business development, consumer consumption and construction, … 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
Claims Management CONSUMER RISK Data/Tech/Modeling FEATURED WRIN.tv Newswire Pendulum swings away from brands in favor of customers – Pypestream exec. Pypestream Chief Customer Officer, Donna Peeples, discusses realities insurers face as disruptive innovation creates greater symmetry between insurance companies and consumers. According to Ms. Peeples, in recent years, “the pendulum of control has swung hard away from brands in favor of customers.” Over the past hundred years, insurance has been a “low interest, low involvement category.” Insurers need to thing … Read More
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 FEATURED Homeowner/Renter/Auto INDUSTRY NEWS Recent Stories Reinsurance Markets WRIN.tv Newswire Will 2017 be a record CAT year? – I.I.I. CEO comments. 2017 has been a very active year for catastrophes…and traditional seasons are shifting. That according to Sean Kevelighan, President and CEO of the Insurance Information Institute (I.I.I.). Mr. Kevelighan points to 367 tornadoes in the first quarter of 2017, which surpasses the average of 93 by a large margin. The I.I.I. had estimated an active hurricane season, and forecasts were … Read More
Claims Management FEATURED Homeowner/Renter/Auto INDUSTRY NEWS P&C Recent Stories WRIN.tv Newswire CAT Report: Changing Focus from Recovery to Resilience. With the Hurricane Season underway, WRIN.tv speaks with Insurance Information Institute (I.I.I.) President and CEO Sean Kevelighan about the forecast for 2017, and a change in focus from ‘recovery’ to ‘resilience.’ Mr. Kevelighan drew from a recent announcement jointly published by the I.I.I., the Department of Atmospheric Science at Colorado State University (CSU) and the Tropical Meteorology Project (TMP), which forecasts “near-average … Read More
Auto/Marine/Aviation CONSUMER RISK Data/Tech/Modeling EMERGING TRENDS FEATURED Homeowner/Renter/Auto Recent Stories Working in Risk & Insurance WRIN.tv Newswire Distracted Driving / Higher Repair Costs pushing auto premiums higher – III CEO. “We have disruption all over… (and) the insurance industry deals with it.” That, according to Sean Kevelighan, President and CEO of the Insurance Information Institute (III), who spoke at the recent AAIS Main event in Florida. He notes that the insurance industry is accustomed to dealing with natural and man-made catastrophes, even technology, which a major disruptor right now. Mr. … Read More
Data/Tech/Modeling INDUSTRY NEWS Markets WRIN.tv Newswire IDF takes aim at ‘protection gap’ with UN, World Bank and sovereign nations – IIS CEO. Mike Morrissey is President and CEO of the International Insurance Society (IIS), which serves as Secretariat for the Insurance Development Forum (IDF). The IDF is a public/private partnership led by the insurance industry and supported by international organizations such as the United Nations and the World Bank. Here, Mr. Morrissey discusses efforts targeting the ‘protection gap’ through risk pools, risk … Read More
FEATURED INDUSTRY NEWS Legislation/Regulation P&C Recent Stories REINSURANCE/ILS Uncategorized WRIN.tv Newswire A Trump Administration… Insurance Leaders Comment on Impact to Industry. On the Road at the Joint Industry Forum in New York, WRIN.tv asked several insurance trade association executives to consider the impact of the new Trump Administration on various sectors of the insurance industry. Here, we share the hopes, concerns and expectations of: Michael Morrissey, President & Chief Executive Officer of the International Insurance Society (IIS) David Sampson, President and … Read More
Data/Tech/Modeling FEATURED Legislation/Regulation Recent Stories WRIN.tv Newswire Insurance industry accepts “Disruption is everywhere” – III President & CEO Kevelighan WRIN.tv goes “On the Road” to the Joint Industry Forum, hosted by the Insurance Information Institute (III). Here, III President and CEO Sean Kevelighan reflects on 2016, contemplates the challenges ahead in 2017, including the impact of the new administration in Washington, and the outcomes of the 2017 Joint Industry Forum. Looking back at 2016, Mr. Kevelighan says industry professionals had … 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
WRIN.tv Newswire Rising Auto Claims Costs Put Upward Pressure On Price Of Insurance – I.I.I. I.I.I. White Paper Finds Increase In Frequency And Severity Of Auto Crashes NEW YORK, October 20, 2016 — Over the past two years, U.S. auto insurance companies have seen private-passenger loss costs rise sharply as insurers receive more, and costlier, claims, according to the Insurance Information Institute (I.I.I.) “There has been an alarming increase in crashes and claims reported. This, … Read More
INDUSTRY NEWS Legislation/Regulation Recent Stories WRIN.tv Rewind: III’s Bob Hartwig on the new Congress, capital standards, “disruptive technology” and growth World Risk and Insurance News was on-site for the annual Joint Industry Forum, hosted by the Insurance Information Institute. Here, Dr. Bob Hartwig, President of the Insurance Information Institute, shares his thoughts on the new Congress, the debate over capital standards, technology, and more. III’s Hartwig sees Dodd-Frank, Obamacare and MetLife’s SIFI challenge as key Federal issues in 2015. Will … Read More
INDUSTRY NEWS Markets P&C Recent Stories III’s Hartwig on broke NFIP, Citizen’s withdrawal, TRIA grey area, cyber and drones 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 … Read More
EMERGING TRENDS P&C Drones face regulatory scrutiny, but will be a growth area for insurers Dr. Robert Hartwig, President of the insurance Information Institute (III), joins WRIN.tv to discuss the risks from the increasing commercial use of drones. He says a large number of companies, like Amazon, are using drones to deliver merchandise. Insurers are looking to use drones in claims adjusting. Due to U.S. regulatory hurdles, Dr. Hartwig points out that many companies like … Read More
Agents/Brokers/Consultants EMERGING TRENDS P&C Insurers asked to help assess, mitigate and transfer cyber risk Dr. Robert Hartwig, President of the insurance Information Institute (III), sees cyber insurance as a bog opportunity for insurers. Ina recent III poll of senior executives in the insurance industry, 80% view cyber as a major growth opportunity for property-casualty insurers and reinsurers Dr. Hartwig mentions that number of insurers have rolled out policies in the U.S. and other countries. … Read More
EMERGING TRENDS Legislation/Regulation P&C State sponsored cyber-attacks fall in grey area within TRIA While TRIA was reauthorized in January, many wonder how it would respond to a state-backed cyber-attack. Here, insurance Information Institute (III) President Robert Hartwig discusses the issue and the may questions that still exist. Dr. Hartwig explains that the renewed TRIA will be in effect until 2020, but it does not directly address cyber risk, despite calls for the law … Read More
Legislation/Regulation P&C Reinsurance Markets Florida Citizen’s withdrawal good news for insurers, and reinsurers According to Dr. Robert Hartwig, President of the insurance Information Institute (III), Citizens Property Insurance Corporation in Florida has seen its population count drop to its lowest level in many years. Many policies have been transferred to the private market. In addition, Florida Citizen’s has tapped private reinsurance and the capital markets as well. As a result, Florida taxpayers are … Read More
ILS & Capital Markets Markets Recent Stories In a world “Awash in Capital”, investors turn to reinsurance in search for yield A report published by the Insurance Information Institute (III), suggests the world is “Awash in Capital.” III President Robert Hartwig joins WRIN.tv to discuss the impact of capital that has turned to the insurance and reinsurance sector in a search for yield. Dr. Hartwig says the report looked at cash holdings of companies worldwide and found that “the world is … Read More