Best's Review

AM BEST'S MONTHLY INSURANCE MAGAZINE



Emerging Risks
Public-Private Partnerships Bring Solutions to Covering Emerging Risks Worldwide

Novel classes of risk on the horizon could create a situation that is just too large for the insurance industry to handle on its own. Partnerships between the public and private sectors, such as those in Florida and California, could step in as needed to fill any gaps.

  • Terrence Dopp
  • November 2021

LIFE INSURANCE
Life Insurance Sales Are Up, But for How Long?

Life insurers posted their biggest sales gain since 1983 during the first half of 2021, as they hoped to leave behind a year marked by uncertainty caused by the pandemic. But is it a one-off gain or the beginning of a sustained trend for an industry that was fighting the "low-for-long" interest rate environment even before a novel disease upended life as we know it?

  • Terrence Dopp
  • November 2021

HEALTH INSURANCE
Public Equity Markets a Capital Lifeline for Three Early Stage Health Insurers

AM Best: All three companies have expanded rapidly in recent years. The five-year annual compounded membership growth rate was 48% for Oscar and 52% for Clover; the annual compounded growth rate for Bright Health was 165% over its three most recent years of operation.

  • AM Best
  • November 2021

HOMEOWNERS INSURANCE
Homeowners Insurtech Segment Expands Lines, Forms Partnerships, Adds Services

This sector is adding term life, pet insurance and e-scooter coverage to its array of products.

  • Renée Kiriluk-Hill
  • November 2021

THE LAST WORD
Space Invaders: Recent Private Spaceflights Have Insurers Eyeing New Coverages

The anticipated rise of space tourism and several billionaires’ recent ventures into space have insurers examining products that for the first time would offer bodily injury coverage to spaceflight travelers.

  • Lori Chordas
  • November 2021

REGULATORY/LAW
After Record Wildfire Seasons, Insurers Now Feeling the Heat

Homeowners insurers in California are bound by the state's far-reaching and retroactive rules regarding policy non-renewals and cancellations.

  • Mark Robinson and Samuel Licker
  • November 2021

CYBER INSURANCE
Cyberattacks: Insurers Defend Against Ransomware

Battered by losses, cyber insurers have begun to work with the government and each other to mitigate losses and find solutions to an emerging threat.

  • Tom Davis
  • October 2021

LIFE INSURANCE
Locking the Treasure Chest Becomes More Popular Amid COVID-19, Tax Changes

The pandemic and a looming lowering of the estate-tax exemption, paired with potentially further reductions and increases discussed in Washington, D.C., have cast a light on the role of irrevocable trusts as part of a life insurance and estate plan.

  • Terrence Dopp
  • October 2021

PHOTO ESSAY
Browse the Shelves of The Insurance Library, Embrace Industry’s Unique History

The Insurance Library celebrates its special role as a centralizing hub for the insurance industry and risk management.

  • Kim Bjorheim
  • October 2021

AUTO INSURANCE
Maturing Auto Insurtech Segment Looks to Highlight Shopping Options, Education to Grow

AM Best: A positive outlook on innovation in the auto insurtech space is reinforced by a continued record-breaking flow of funding.

  • Renée Kiriluk-Hill
  • October 2021

THE LAST WORD
Live Entertainment Returns but With Some Big Insurance Changes Due to COVID-19

Insurers are having to adapt to changes created by the pandemic, including the addition of communicable disease limitations to policies.

  • Lori Chordas
  • October 2021

CYBER INSURANCE
New Ransomware Worry: Insurance Can Present Solutions and Problems for Cybersecurity

Insurance policies could be a “guide” for cybercriminals to determine how much to demand in ransomware attacks, said Erik Weinick, attorney and co-founder, Otterbourg P.C.’s Privacy & Cybersecurity practice.

  • Tom Davis
  • October 2021

RISK ADVISER
Litigation Trends Could Set D&O Market on Stormy Course

Derivative litigation continues to be one of the major exposures for directors and officers insurance.

  • Lance Ewing
  • October 2021

WHAT AM BEST SAYS
AM Best: COVID-19 Pandemic Served Effectively as the Caribbean’s ‘Major Catastrophe in 2020’

The International Monetary Fund estimates that, in aggregate, tourism-dependent countries’ GDP contracted by almost 10% last year due to curtailed international travel.

  • John Weber
  • October 2021

CROP INSURANCE
California Governor Signs Bill Expanding FAIR Plan to Farmers

The bill removes the existing statutory exclusion for “farm risks,” narrowing the exclusion to “commercial agricultural commodities or livestock, or equipment used to cultivate or transport agricultural commodities or livestock.”

  • Timothy Darragh
  • October 2021

FROM THE EDITOR’S DESK
Ransomware Attacks Escalate, Push Cyber Insurers to Respond

The October issue also focuses on the auto insurtech sector and includes AM Best’s exclusive rankings of the top auto writers.

  • Patricia Vowinkel
  • October 2021

INDUSTRY UPDATES
AM Best: Sept. 11 Attacks Changed the World’s Perception of Risk

More also has been put on the insurers through the Terrorism Risk Insurance Program. Every time it’s been renewed, more exposures have been put back to the insurers, said AM Best’s Christopher Graham.

  • John Weber
  • October 2021

AT LARGE
Digitization of Insurance Industry Must Be Deployed Thoughtfully

Application Programming Interfaces are not a “single-bullet” solution that can simply be thrown at every problem.

  • Bill Pieroni
  • October 2021

BEST'S RANKINGS
U.S. P/C Industry – Top 20 Cyber Insurers – 2021 Edition

Insurers are ranked by 2020 total standalone and packaged cybersecurity direct premiums written.

  • October 2021

BEST'S RANKINGS
Top Auto Writers – 2021 Edition

The writers are ranked by 2020 direct premiums written.

  • October 2021

BEST'S RANKINGS
U.S. Life/Health – Assets Distribution – 2021 Edition

Insurers are ranked by 2020 total admitted assets.

  • October 2021

BEST'S RANKINGS
Top 10 U.S. Private Crop Insurers – 2021 Edition

Insurers are ranked by 2020 market share.

  • October 2021

BEST'S RANKINGS
Top 10 U.S. Multiperil Crop Insurers – 2021 Edition

Insurers are ranked by 2020 market share.

  • October 2021

APP STORE
App Helps Insurers Improve Patient Outcomes After Comp Claims Are Filed

The PeerWell app combines clinical expertise with technology to help manage workers’ comp claims, providers say.

  • Tom Davis
  • October 2021

BOOK STORE
Author Details How to Build a Personal Brand in His Award-Winning Book

Dave Gordon also highlights the importance of taking personal responsibility for one’s reputation and results.

  • Lori Chordas
  • October 2021

EXECUTIVE CHANGES
Willis Towers Watson Names Carl Hess to Succeed John Haley as President and Chief Executive Officer

Also, Lloyd’s appoints first woman deputy chair and the Bermuda Monetary Authority welcomes a new chairman this month.

  • October 2021

INSURANCE MARKETING
Agents Turn to Search Engines and Customer Reviews to Bolster Digital Footprint

The rise of online insurance sales created by COVID-19 has agents looking for new ways to build their online and digital presence.

  • Lori Chordas
  • October 2021

IN THE NEWS
Trade Group: Germany Faces Highest Natural Cat Losses

Flooding and devastating hail storms probably will make 2021 the year with the highest natural hazard losses for German insurers in at least 50 years.

  • David Pilla
  • October 2021

IN THE NEWS
Regulatory Update: Texas Auto Insurance Bill; Michigan Health Ministry Action

Texas auto insurers are dealing with impactful changes and regulators are taking action against a Michigan health ministry.

  • October 2021

TRENDING: BEST’S RESEARCH
Trending Research: Report on the Impact of ESG Factors on AM Best Ratings

Other trending research includes reports on wildfires, captives and trade credit insurers.

  • October 2021

AM BEST WEBINARS
AM Best’s Briefing Addresses Cyber Aggregation Risk in the US Property Market

Professionals also discuss the effects of the COVID-19 pandemic on U.S. mutuals and marketing strategy for growing specialty insurance revenue.

  • October 2021

CORPORATE CHANGES
Mergers, Acquisitions, State Action and Name and Ownership Changes

Fremont Life and Motorists Mutual are among the U.S. life/health and property/casualty insurers that have experienced a corporate change.

  • October 2021

INDUSTRY UPDATES
AM Best Panel: Global Reinsurance Industry Strong Despite Growing Risks

Balancing the industry’s solid financial position is a higher incidence of secondary perils that by definition are less well understood and are more difficult to price and to model.

  • Timothy Darragh
  • October 2021

INDUSTRY UPDATES
Prudential Plc Completes Jackson National Demerger, Set to Sell Down Stake in Coming Year

The development means Jackson Financial Inc., a U.S. retirement services provider, is now an independent company.

  • Terrence Dopp
  • October 2021

WEB TRAFFIC
Web Traffic: Visits to US Private Passenger Auto Writers

USAA and Progressive lead web analytics provider Semrush's ranking of the top 10 US Private Passenger Auto Writers based on direct premiums written.

  • October 2021

AM BEST TV & AUDIO
ESG Can Be a Valuable Tool for Insurers, According to CSAA Insurance Group

Also, industry professionals discuss an increase in vaccine mandate claims, the use of AI to make intersections safer and ransomware.

  • October 2021

Digital Edition

Subscribe

The digital edition, a replica of the print magazine, is available only to subscribers.






× Subscribe to the Best’s Review Newsletter to receive the industry’s leading news & insights straight to your inbox. Subscribe