Best's Review

AM BEST'S MONTHLY INSURANCE MAGAZINE



At Large
Insurers Need Innovative Battle Plan to Address Cyberrisk

The insurance industry needs a new approach and novel solutions to support the cyber market.

  • Tony Kuczinski
  • December 2021

MARINE INSURANCE
Clogged Supply Chains Complicate Risk Concerns for Ocean Marine Insurers

Insurers worry about increases in volume and speed, bodily injury possibilities and a higher frequency of losses from container or cargo damage within ports.

  • David Pilla
  • December 2021

ASSET MANAGEMENT
Insurers Confront Inflation for the First Time in Ages

Inflation across the economy could eat into investment margins that have dropped incrementally for the past decade from low interest rates. The open question is: Just how long could it be?

  • Terrence Dopp
  • December 2021

WHAT AM BEST SAYS
AM Best: US Title Insurance Premium Saw Sizable Growth in 2020 Despite COVID-19

Looking forward, housing demand will remain strong, but not at the same pace seen in the last 12 to 18 months.

  • Lori Chordas
  • December 2021

REGULATORY/LAW
As Cybercrimes Continue, Lawsuits for Damages Will Grow

Due to different policy language, it is difficult to identify clear trends and patterns in the law.

  • Alan Rutkin
  • December 2021

MARINE INSURANCE
COVID-19 Disruption to the Global Supply Chain Could Continue to Challenge Insurers for Some Time

COVID-19 has created bottlenecks in ports and disrupted supply chains, thereby creating challenges for marine insurers and reiterating the need for communication and building close relationships with suppliers.

  • Lori Chordas
  • December 2021

How D&I Impacts Insurers’ Workforces, Products and Risks

Insurance executives and industry experts discuss how social change is driving opportunity.

THE MANY FACETS OF D&I
How Insurers Profit by Serving a Diverse and Inclusive Customer Base

Insurers say they’re working to reach consumers of all backgrounds now that social change is driving opportunity.

  • John Weber
  • November 2021

THE MANY FACETS OF D&I
Advancing Technology Exposes Insurers to Bias Risk

Certain data, such as credit scores, are considered inherently biased and can have unintended consequences, according to a panel of industry leaders and analysts.

  • John Weber
  • November 2021

THE MANY FACETS OF D&I
Best Practices for Building a Diverse and Inclusive Insurance Workforce

Insurers are implementing companywide initiatives, employee resource groups, recruiting and internship programs and community outreach to create a diverse, inclusive workplace culture and heterogeneous workforce.

  • Lori Chordas
  • 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

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

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

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.

  • November 2021

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

Homeowners writers 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

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

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

  • Renée Kiriluk-Hill
  • November 2021

RISK ADVISER
The Fallout of High-Value Verdicts

Jury awards have gotten out of hand. Insurers and their corporate customers need to pressure legislators to rein in nuclear verdicts.

  • Paul Horgan
  • November 2021

WHAT AM BEST SAYS
AM Best: Total Dedicated Reinsurance Capacity Increased Sharply in 2020

The 7% increase is wholly attributable to the rises in traditional reinsurance capital.

  • John Weber
  • November 2021

INSURANCE LAW
The Brokers’ Defense Dilemma: To Be or Not to Be a Specialist?

One expert says brokers should provide clients with advice—and then defend themselves in court as experts if they are faced with an errors & omissions claim.

  • John Weber
  • November 2021

WORKERS’ COMPENSATION INSURANCE
AmTrust: Among Artisan Contractors, Plumbers Account for Most Workers’ Comp Claims

The company’s workers’ comp report also found while older workers have a lower frequency of claims, their injuries are more severe.

  • John Weber
  • November 2021

FROM THE EDITOR’S DESK
The Many Facets of Diversity & Inclusion

The November issue also includes coverage of the homeowners insurtech sector, AM Best’s exclusive ranking of homeowners insurers and an excerpt from an AM Best report on three early stage health insurers.

  • Patricia Vowinkel
  • November 2021

INDUSTRY UPDATES
UK Regulator Launches Investigation Into Gallagher/Willis Re Deal

Arthur J. Gallagher & Co. said CMA’s move is part of the usual regulatory oversight for any significant acquisition.

  • Frank Klimko
  • November 2021

BEST'S RANKINGS
Top 50 U.S. Workers’ Compensation Insurers - 2021 Edition

Insurers are ranked by 2020 direct premiums written.

  • November 2021

BEST'S RANKINGS
U.S. Homeowners Multiple Peril - 2020 Top Writers - 2021 Edition

Writers are ranked by 2020 direct premiums written.

  • November 2021

BEST'S RANKINGS
U.S. Homeowners Multiple Peril - Top Writers by State, Canada and U.S. Territories - 2021 Edition

Writers are ranked by 2020 direct premiums written.

  • November 2021

BEST'S RANKINGS
U.S. Property/Casualty - 2020 Asset Distribution - 2021 Edition

Insurers are ranked by 2020 total admitted assets.

  • November 2021

BEST'S RANKINGS
U.S. Life/Health - Industry 2020 Investment Returns - 2021 Edition

Total pre-tax investment returns are provided.

  • November 2021

BEST'S RANKINGS
U.S. Life/Health - Top 25 Insurers’ 2020 Investment Returns - 2021 Edition

Insurers are ranked by 2020 total admitted assets.

  • November 2021

APP STORE
App Helps Keep Work Environments Safe From COVID-19

Safe2Work can help “overworked HR departments” wade through the COVID-19 crisis, the app’s creators say.

  • Tom Davis
  • November 2021

BOOK STORE
New Book Chronicles the History of Insurers’ Role in the Rise of the US

Author offers a look at how insurers supported the expansion of American maritime expertise and economic development.

  • Lori Chordas
  • November 2021

EXECUTIVE CHANGES
Insurtech Wefox Hires Former Zurich International Chief Executive Officer as Chief Insurance Officer

Also, Buckle appoints first chief people officer and new European Insurance Advisory Board chairperson begins five-year term.

  • November 2021

INSURANCE MARKETING
Insurers Up Their Game to Expand Their Brands by Partnering With Sports Teams

Aflac teamed up with two football legends to talk about its mission, and Gainbridge’s name is now part of two basketball teams’ home arena.

  • Lori Chordas
  • November 2021

TRENDING: BEST’S RESEARCH
Trending Research Includes Reports on Global Reinsurance, Captives

AM Best also issues a report on U.S. property/casualty mutuals and comments on six-month 2021 results for property/casualty and life/annuity.

  • November 2021

AM BEST WEBINARS
Panelists Examine the Relationship Between Next-Gen Telematics and Vehicle Build Data

Professionals also discuss underwriting trends in the cyber and property markets as well as active risk management programs.

  • November 2021

CORPORATE CHANGES
Acquisitions, Name and Ownership Changes and State Action

Spartan Plan VA, Fidelity Mohawk and Wilson Mutual are among the U.S. life/health and property/casualty insurers that have experienced a corporate change.

  • November 2021

INDUSTRY UPDATES
Panel: Cyber Insurers Must Be Agile in a Market in Its Infancy

Pricing, lack of historical data and capacity are many of the challenges cyber writers are facing.

  • Timothy Darragh
  • November 2021

WEB TRAFFIC
Web Traffic: Visits to US Homeowners Multiple Peril Writers

USAA and Progressive lead web analytics provider Semrush's ranking of the top U.S. Homeowners Multiple Peril Writers based on 2020 direct premiums written.

  • November 2021

AM BEST TV & AUDIO
Everest Re CEO: Companies Investing in Data and Analytics Can Identify Profitable Niches

Also, industry professionals discuss the U.S. life insurance protection gap and the rise of indemnity claims during the COVID-19 pandemic.

  • November 2021

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