AM BEST'S MONTHLY INSURANCE MAGAZINE
EMERGING RISKS
On High Alert: Rising Risks of PFAS Claims and Litigation Capture New Attention
Some industry experts are seeing parallels between PFAS risk and asbestos litigation that for years hit insurers hard. Insurers are now reacting by creating stand-alone products and adding PFAS-related policy exclusions for losses stemming from drinking water contamination, environmental remediation, and products liability and bodily injury claims related to the “forever chemicals.” Special Section sponsored by Finys.
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- Lori Chordas
- April 2021
EMERGING RISKS
Insurers Face Evolving Cyberrisk From Costly Hacks, Deepfake Attacks and Sophisticated Ransomware
Because cyberattacks can affect a range of coverages including business interruption and reputational risk, insurers are forced to constantly update their coverage tactics. Special Section sponsored by Finys.
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- Eric Zeman
- April 2021
EMERGING RISKS
Deepfakes Are No Laughing Matter
Special Section sponsored by Finys.
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- Eric Zeman
- April 2021
EMERGING RISKS
D&O Writers Brace for Wave of Costly Diversity Lawsuits
Shareholder derivative lawsuits that target boards’ failures to act on diversity goals could steam roll directors and officers lines of business. Special Section sponsored by Finys.
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- Renee Kiriluk-Hill
- April 2021
EMERGING RISKS
Praesidium CEO: Risk Management Is Key to Preventing Child Abuse Claims
As claims grow due to changes in statute of limitations laws, insurers are raising underwriting standards and providing their insureds assessment resources to meet those requirements. Special Section sponsored by Finys.
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- John Weber
- April 2021
REINSURANCE
Bermuda’s Vantage and Conduit Re Enter Market With Clean Slates and Veteran Staffs
Vantage and Conduit bet a combination of experience, technology and grit will allow them to sidestep the low interest rate environment that has crimped the entire industry.
- Terrence Dopp
- April 2021
LIFE INSURANCE
Unclaimed Life Insurance: Insurers Grapple With a Problem That Resists Elimination
The life insurance industry is still addressing the issue of unclaimed benefits nearly a decade after the situation first made headlines across the U.S. While the use of new technologies and diligence has abated the issue, some instances still remain.
- Terrence Dopp
- April 2021
TECHNOLOGY
Innovation Through Integration: Legislation Should Help Open Access to Patient Data
Eight-year-old standard finds fresh life thanks to new legislation meant to ease access to patient data across the health care ecosystem.
- Gates Ouimette
- April 2021
AT LARGE
2020 Was a Time Machine That Flung Insurance Into the Future
Rather than introduce truly unique disruptions to the insurance industry, 2020 forced insurers to speed up existing plans to modernize their businesses.
- Bill Pieroni
- April 2021
LATIN AMERICA
AM Best: Economic Uncertainty, Record Low Interest Rates Impact Brazil’s Reinsurance Market
The AM Best outlook for the reinsurance market of the South American country remains at negative.
- April 2021
FROM THE EDITOR'S DESK
Beyond the Pandemic, a Gathering Wave of Risks Threatens Insurers With Outsized Losses
This issue includes a look at lawsuits over chemicals that have contaminated drinking water and examines growing concerns about cyberrisks. Other coverage includes a listing of the largest insurers in Latin America.
- Patricia Vowinkel
- April 2021
RISK ADVISER
Plan Now for the Inevitable Soft Market
Successful insurers maintain underwriting discipline that anticipates a rate downturn.
- Lance Ewing
- April 2021
THE LAST WORD
Name Game: Some Insurers Are Shedding Their Old Monikers for New Company Names
Every corporate name change has a unique story behind its inspiration, and several insurers recently have found creative ways to rebrand their company names.
- Lori Chordas
- April 2021
WHAT AM BEST SAYS
AM Best: China Outlook Shaped by Premiums, Profitability and Regulation
Auto insurance comprises the majority of China’s nonlife market.
- John Weber
- April 2021
BOOK STORE
Attorney: Insurance Policy Exclusions Still Fodder for New York Courts
Author Evan Krinick takes a look at 25 years of insurance cases in new book.
- John Weber
- April 2021
APP STORE
Best’s Credit Ratings Mobile App Puts Information at Agents’ Fingertips
Adriana Franco details the concept behind developing the app and what to expect from the application and its features over time.
- John Weber
- April 2021
EXECUTIVE CHANGES
UnitedHealth Group Names Successor to Retiring CEO
Also, FM Global creates new position of head of power generation, Ohio has a new insurance commissioner and Lloyd’s fills newly created role of chief of markets.
- April 2021
INSURANCE MARKETING
Power Shot: Customer Brand Loyalty and Sports Partnerships Are in Full Effect in Insurance
COVID-19 hasn’t stopped many insurance brands from resonating with consumers and meeting customer expectations, and Vitality is partnering with reigning Olympic gold medal team England & Great Britain Women’s Hockey.
- Lori Chordas
- April 2021
TRENDING: BEST'S RESEARCH
Market Segment Report: Premium Volume May Be Down but Profits Could Expand for Auto Insurers
AM Best also comments on the potential for Texas insurers to see record catastrophe losses from winter storm Uri and accelerated ESG investments.
- April 2021
CORPORATE CHANGES
Acquisitions, State Actions and Name Changes
Secura Insurance is among the life/health and property/casualty insurers in the United States that have had a recent corporate change.
- April 2021
AM BEST TV & AUDIO
Stronger Hurricanes May Put More Inland Areas at Risk in the Future
Also, insurance industry professionals discuss pet prescription coverage and new regulations on the use of commercial drones.
- April 2021
AM BEST WEBINARS
The Impact of COVID on Cyberrisk and the Importance of Recorded Statements in Insurance Claims
Industry experts also discuss the business lessons learned from COVID and the importance of data quality, optimal processes and accurate data analysis for insurers across all lines of business.
- April 2021
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