This year’s deep freeze in Texas and last year’s derecho in the Midwest have gotten insurers talking about and moving toward better modeling, risk selection and pricing.
Insurers also are increasing deductibles and placing sublimits in policies.
Insurers must establish a dialogue with policymakers to manage the risks of impending contagions.
Andy Read, public sector practice vice president, also said this innovative cover can help local governments provide affordable policies to residents.
The push comes from a wide range of constituencies—the C-suite, shareholders, bondholders, employees, regulators and rating agencies.
The impending LIBOR cessation has forced a major shift for entities used to the London Interbank Offered Rate, which has been the standard since 1986.
Changes to Section 7702 of the IRS tax code allow life insurance policyholders to squirrel away more cash at lower death benefits, effectively transforming policies into retirement vehicles in addition to, or instead of, protection.
Many industry leaders welcome a return to in-person networking and in some cases, international travel to meetings.
Piggybacking is an effective way to reduce customer acquisition costs, but picking the right strategy and partner is a critical first step.
Connecting with elementary, high school and higher ed students can help companies find potential employees or at least inspire some to pursue a path in the industry.
Reducing greenhouse gases and insuring at-risk communities can mitigate climate change.
This month’s issue also includes coverage of the LIBOR cessation, the outlook for fall events and the role of insurance in future pandemics.
Outgoing TransRe CEO appointed to lead insurance segment.
The sector’s profitability has been particularly hit from lawsuits related to the COVID-19 pandemic and social issues, said Sridhar Manyem, director, industry research and analytics, AM Best.
Also, Indiana’s longest-serving insurance commissioner leaves, and Gary Gensler is confirmed as head of the Securities and Exchange Commission.
Marsh McLennan has a new look, and AIA Singapore continues its sponsorship of men’s soccer for two more seasons.
Lost revenue caused by pandemic-related shutdowns has sparked a rise in litigation against insurers over the failure to pay for business interruption losses.
Rob Galbraith’s book also addresses changing customer expectations and the demands of a millennial workforce.
PainWorth researches relevant case law to find comparable judgments, said CEO and co-founder Mike Zouhri.
Carriers say Florida laws are tilted in trial lawyers’ favor, despite attorney fee limits in the 2019 reform of its Assignment of Benefits law.
A reader shares his thoughts on how COVID-19 was “an unplanned catalyst of change for those in the office workspace.”
Also, industry professionals discuss venture capital in insurtech and how most HVAC claims can be settled via repair instead of replacement.
GuideOne and Cigna Life among the U.S. insurers that saw a corporate change.
AM Best also comments on P/C and Life/Annuity industries as well as insurer defined benefit plans and the insurance markets in Mexico and Trinidad & Tobago.
Professionals also discuss flood risk and how a better set of data tools is necessary for commercial underwriters to compete effectively.
|The Changing Relationship Between Asset Management, Values-Based Investing and Diversity and Inclusion|
|The Push for Responsible Investing|
|Winds of Change: Derechos, Snowstorms and Other Catastrophes Are Becoming a Growing Problem for Insurers|
|Life Insurers Ponder How to Underwrite COVID-19 Survivors|
|Smaller and Midsized Insurers Negotiate a Complex Investment Landscape|
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