Published: August 2020
A Way Forward
AM Best Research & Commentary: AM Best Research & Commentary: AM Best says the credit quality of commercial mortgage loans in insurers’ portfolios has declined and the pandemic could give U.S. commercial auto writers a reprieve in frequency and severity.
AM Best TV & Audio: COVID-19 and Creativity: Hockey and lacrosse equipment factories are making face shields, a group raises funds for children affected by the coronavirus, students gain ‘real-world’ experience in dealing with a pandemic and the growth of telemedicine has its risks. AMBestTV and AMBestAudio report on stories from a number of sectors within the insurance industry.
AM Best Webinars: The State of Surplus Lines, the Florida Market, and a Look at Captives: Experts review the surplus lines sector, opportunities for captives, the state of the Florida market and the possible changes in a post-pandemic insurance industry.
At Large: Setting the Right Tone: Insurers must clarify the role insurance can play in recovering from future pandemics.
Best Rankings: Top 200 U.S. Combined Life & Health Insurers: Ranked by 2019 admitted assets.
Best Rankings: U.S. Property/Casualty — 2019 Direct Premiums Written by Line:
Captives: Captive Update: Vermont governor signs new captive bill to reduce minimum capital threshold, increase flexibility.
Corporate Changes: Corporate Changes: All companies listed are life/health or property/casualty insurers in the United States and Canada.
Executive Changes: LL Global Names Head of Industry Solutions, CFO: Also, Lockton Capital Markets names CEO, Zurich names senior risk consultant for climate change, SUNZ Holdings names president, and industry veteran dies at 92.
From the Editor's Desk: Black Swan Assistance: The industry looks ahead to finding long-term solutions to pandemics, and an upturn in reinsurance pricing forces buyers to rethink their strategies. Also watch for discussions in the September issue with industry thought leaders about the pandemic’s impact on the industry.
In the News: Allstate Makes Deal to Acquire National General: Allstate CEO says the acquisition increases personal lines premiums by $4 billion.
In the News: Lloyd’s Exits Three US Admitted Markets: The move is intended to focus the company on nonadmitted, E&S lines.
In the News: Regulatory Update: Arizona names new regulator; Colorado extends reinsurance program; Vermont RRG liquidated and Florida protects genetic information.
Industry Updates: A Big Drop: Willis Towers Watson: North America hit by slowing mergers and acquisition deals amid COVID-19 disruption.
Industry Updates: Comeback on the Way: Swiss Re: Global insurance market should recover in 2021 from COVID-19 pandemic shock.
Industry Updates: New Company Buzzes In: Hudson Structured Capital Management creates new special purpose insurer—Bumblebee Re.
Insurance Marketing: Brand-Building: Nationwide scores a new sponsorship agreement with a professional soccer club and an industry expert offers tips for building a personal brand.
Life Insurance: An Old and a New Problem: As the number of Americans reaching the age of 100 grows, a small but noteworthy problem rears its head. In many cases, life policies issued before the early 2000s mature at the century mark and the industry is left to figure out how to address the issue.
Life Insurance: New Rules: Regulatory and accounting changes may reshape parts of the life/annuity business environment.
Public-Private Partnerships: Pandemic Partnerships: As businesses emerge from months of shutdown due to the coronavirus, insurers and reinsurers around the world work with governments to mitigate the economic impact of future pandemics.
Regulation: Next Steps: The National Association of Insurance Commissioners is engaged in ongoing efforts to develop capital standards for U.S. insurance groups comparable to its European counterpart’s and other international capital requirements.
Regulatory/Law: Reinsurance & BI Claims: Reinsurers need to evaluate their obligations, especially if legislation is passed expanding their exposure.
Reinsurance Market: A Hard Reality: While loss creep from recent major catastrophes, inflation and other factors are tightening reinsurance capacity this year, the global COVID-19 pandemic could add another layer of challenges to the reinsurance market.
Risk Adviser: Making Waves: COVID-19 reveals a possible future upswell of liabilities for insurers.
Technology: Silver Lining: New compliance regulations are spurring insurers to build frameworks for a strategic ROI.
The Last Word: Travel Alert: As travel plans start to rebound after COVID-19 largely upended the travel industry, travel insurers are optimistic about the future of their market.
What AM Best Says: Headwinds Emerge: India’s nonlife insurance market is challenged by an unhealthy reliance on unrealized and realized gains from investment holdings, poor pricing discipline and economic fallout from the pandemic.