Best's Review

AM BEST'S MONTHLY INSURANCE MAGAZINE



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Annuities
Annuity Providers See Growth Opportunity in US Retirement Plan Changes

Retirement planning in the U.S. has focused for many on defined contribution plans and accumulation with little discussion of how to secure guaranteed income through annuities as part of workers' 401(k) accounts. With that about to change, the annuity industry sees a big opportunity on the horizon.

  • Terrence Dopp
  • February 2022

Workers' Compensation
US Supreme Court Asked to Rule Whether Workers' Comp Covers Medical Marijuana

A Minnesota woman claims years of opioid prescriptions and surgeries failed to help her, and she began paying for medical marijuana out of pocket. Eventually, she sought and won her claim for coverage under the state workers' compensation code.

  • Timothy Darragh
  • February 2022

What AM Best Says
AM Best: US Market Outlook Stable Despite COVID-19, Inflation, Catastrophe Pressures

For the property/casualty personal lines segment, there is continued robust risk-adjusted capitalization with sufficient liquidity, driven by the impact of COVID-19 on the economy and equity markets, AM Best says.

  • David Pilla
  • February 2022

Regulation
Insurance Restructuring Options Take a Giant Leap Forward

Allstate Insurance Co. filed the first division plans in Illinois, and their subsequent approval was a significant step forward for the insurance industry to expand the application of restructuring mechanisms.

  • Luann Petrellis
  • February 2022

Annuities
Staid Annuities Get Star Treatment in Movie About the Importance of Guaranteed Retirement Income

The Baby Boomer Dilemma, a new documentary film by Doug Orchard, tells of the role of annuities in retirement portfolios to guard against "haircuts" to traditional pensions or Social Security, as well as potential volatility in defined contribution plans.

  • Terrence Dopp
  • February 2022

PHOTO ESSAY
We Meet Again: Insurers Return to the Public Space

In what may be an indicator, the Wholesale & Specialty Insurance Association held its Annual Marketplace in person in November—and the San Diego event drew its second-highest turnout ever. Many organizers are planning for an in-person component to their meetings in 2022.

  • Kim Bjorheim
  • January 2022

EVENTS
Welcome Back: Conference Leaders See a Cautious Return to In-Person Events

Although the pandemic has forced events to be held using hybrid formats, the in-person element offers attendees a chance to reconnect with colleagues. It’s a delicate balancing act as health safety remains a priority.

  • Lori Chordas
  • January 2022

LIFE INSURANCE
Life Insurers Not Free of COVID-19 Yet, as Virus Impacts Younger Populations

The delta variant pushed up the number of pandemic-related deaths for working-age people in the U.S. A mix of investment gains and business diversification across segments could help ameliorate potential costs.

  • Terrence Dopp
  • January 2022

INNOVATION
In Innovation, It's Not the Most Obvious Changes That Make the Biggest Impacts

Whether it's technical, analytic or systemic change, the insurance industry has undergone profound transformation, industry leaders say.

  • Lori Chordas
  • January 2022

EMBEDDED INSURANCE
Embedded Insurance Gaining Steam as Insurers Build Distribution Partnerships

Insurers look to embedded coverage as a growth distribution channel.

  • Renée Kiriluk-Hill
  • January 2022

INSURTECHS
An Entrepreneur’s Story: Caribou Honig's Questions for Ilya Bodner of Bold Penguin

Insurtech veteran Caribou Honig discusses insurtech strategy with an entrepreneur who launched a company later acquired by American Family.

  • Caribou Honig
  • January 2022

THE LAST WORD
WSIA Panel Identifies Cyber, Online Merchants and Autonomous Vehicles as Key Emerging Risks

Attendees at the Wholesale & Specialty Insurance Association’s Annual Marketplace said the E&S sector is experiencing new capital and entities at a rapid pace.

  • John Weber
  • January 2022

LIFE INSURANCE
Haven Technologies Looks to Digital Platforms, Not Policies, as Product in Latest MassMutual Spinoff

The new company, which looks to market the digital platform created to run Haven Life, is betting the wave of innovation in life insurance has not yet peaked and that more players will look to buy instead of build as they upgrade.

  • Terrence Dopp
  • January 2022

CEO INTERVIEW
Crum & Forster Moves Forward as Cyber Insurance, New Technologies Emerge

The 200-year-old company is keeping up its tradition of “looking out there at the horizon and seeing what’s new and interesting” as the insurance industry experiences significant changes, said Marc Adee, Crum & Forster’s chairman and CEO.

  • John Weber
  • January 2022

WHAT AM BEST SAYS
ESG and Insurance Credit Ratings: Frequently Asked Questions

AM Best believes that communicating how it views environmental, social and governance factors in the context of insurance credit ratings will provide greater transparency to the market. This frequently asked questions document was developed to provide additional background and context.

  • January 2022

INDIA INSURERS
AM Best: COVID-19, Catastrophes Continue to Shape Asia-Pacific Reinsurance Markets

Low interest rates, regulatory developments and digitalization also are playing key roles in the region's development, analysts say.

  • David Pilla
  • January 2022

MENA INSURERS
A Cautious Recovery for the Gulf Cooperation Council Nations

The Middle East and North Africa region includes a diverse mix of markets, regulatory systems and political environments.

  • Best’s Review Staff
  • January 2022

AT LARGE
The Misguided Pursuit of Developing Markets

Are they really worth the risk?

  • Bill Pieroni
  • January 2022

FROM THE EDITOR’S DESK
On the Road Again — At Least For Now

The January issue includes a look at the possible return of in-person events in 2022 and coverage of industry innovations past and present.

  • Patricia Vowinkel
  • January 2022

BEST'S RANKINGS
Largest 30 India Insurers — 2022 Edition

Insurers were ranked by 2020 gross premiums written.

  • January 2022

BEST'S RANKINGS
Largest 30 MENA Insurers — 2022 Edition

Insurers were ranked by 2020 gross premiums written.

  • January 2022

APP STORE
Insurer Set to Provide App to Address COVID-19’s Impact on Mental Health

The app will help people connect to insurers’ support networks, according to Swiss Re.

  • John Weber
  • January 2022

BOOK STORE
Author: Evolving Chief Data Officer Role Is Focused on Data Literacy, a Culture of Data

Peter Jackson also highlights the need for organizations to include chief data officers in the C-suite.

  • Lori Chordas
  • January 2022

EXECUTIVE CHANGES
AIG Names Chief Financial Officer, Creates Global Chief Actuary Post

Also, Allianz names first chief analytics officer and the former director of the Federal Insurance Office joins Brookfield Asset Management.

  • January 2022

TRENDING: BEST’S RESEARCH
Trending Research Includes Reports on ESG and Insurers’ A&E Incurred Losses

Other trending research includes a report on key LIBOR transition dates as well as reports on the commercial and private passenger auto markets.

  • January 2022

INSURANCE MARKETING
Branding and Data Help to Meet Today’s Customer Expectations

Marsh McLennan Agency’s chief marketing officer discusses the importance of viewing B2B marketing as an audience of individuals and why digital marketing must make this a priority now and for the future.

  • Lori Chordas
  • January 2022

AM BEST WEBINARS
AM Best Panelists Examine ESG and Its Relationship to the Ratings Process

Professionals also discuss auto insurance trends and their effects on carriers as well as outlooks for various segments in the U.S. insurance market.

  • January 2022

CORPORATE CHANGES
Mergers, Acquisitions and Name and Ownership Changes

Sunset Life, Victoria National and Alestri Insurance Co. are among the U.S. life/health and property/casualty insurers that have experienced a corporate change.

  • January 2022

WEB TRAFFIC
Web Traffic: Visits to US Workers' Compensation Writers

Berkshire Hathaway leads web analytics provider Semrush's ranking of the top U.S. Workers' Compensation Writers based on 2020 market share.

  • January 2022

AM BEST TV & AUDIO
For VCIA, New Leadership and Legislative Changes Are on Tap for 2022

Also, industry professionals discuss the modest improvement for rates as well as the challenge of remotely building relationships and training staff.

  • January 2022

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