Published: September 2020
Past as Prologue
AM Best Research & Commentary: COVID-19 Impacts Cyber, Auto: AM Best says insurers should reassess their stress scenarios for cyber and notes that declining losses have offset declining premiums for auto insurers.
AM Best TV & Audio: A Growing Range Of Global Risks: Ships stuck in ports due to the pandemic cause concern, home insurance carriers face challenges in marketing and selling products, and confirming online identities takes various steps. AMBestTV and AMBestAudio report on stories from a number of sectors within the insurance industry.
AM Best Webinars: The State of Global Reinsurance Markets, Surplus Lines and Wildfire Claims: Due to Rendez-Vous de Septembre in Monaco being canceled this year, AM Best will present its annual Reinsurance Market Briefing in a virtual format. Also, experts review the upsurge in wildfire-related claims activity and take a look at the surplus lines sector of the U.S.
An Industry Transformed: Defending Relevancy: The global pandemic raises questions about the insurance industry’s present and future relevancy
An Industry Transformed: Digitally Native, Not by Choice: The COVID-19 pandemic illustrates how quickly insurers can adapt.
An Industry Transformed: Innovation Now: Prodded by changes in regulations, the pandemic and the ratings process, insurers are finding new ways to improve and produce products.
An Industry Transformed: Reaching Beyond the Industry: Pandemic risk is one of several exposures that have insurers looking outside of the industry for coverage.
Asset Management: Hold the Line: Goldman Sachs Asset Management: Insurers likely to retain assets ahead of rebound from COVID-19 market dip.
At Large: 15 Years After Katrina: Finding new and better ways to reduce loss and speed recovery remains a top priority.
Best's Rankings: Top 50 World's Largest Reinsurance Groups: Ranked by unaffiliated gross premiums written in 2019
Best's Rankings: Top U.S. Life/Health Insurers: Ranked by 2019 ordinary life business issued.
Books: AM Best Trilogy: The Company, The Industry, The Man: AM Best publishes three books, which detail the history of AM Best, credit rating agencies and the life of Alfred M. Best.
Business Interruption Litigation: Before the Bench: Test cases and consolidation requests emerged as business interruption complaints, driven by COVID-19, flowed into the courts this summer.
Corporate Changes: Name Changes, Mergers, State Actions: London Life Reinsurance and Anchor Specialty are among the life/health and property/casualty insurers in the United States and Canada that have changed names or have had other corporate changes.
Executive Changes: New York Life Names Craig DeSanto President: Also, International Insurance Society president-CEO to retire, Aviva names successor to retiring CEO, and newly created COO role filled at Suncorp.
From the Editor's Desk: Transformation Accelerated: Top insurance leaders share their thoughts about how the pandemic will impact the industry going forward. Also, a look at New York Life’s 175-year history and an examination of business interruption insurance litigation.
Industry Updates: Relationship Troubles: APCIA: Regulators’ rejection of communicable disease exclusion filings threatens reinsurer/insurer alliances.
Insurance Marketing: Spread the Word: Badger Mutual’s Dan Wolfgram discusses the importance of building relationships and “overcommunicating” during challenging times like a global pandemic.
Life Insurance: Past as Prologue: New York Life CEO Ted Mathas finds even amid the COVID-19 pandemic that the company’s 175-year history can be a guide to the future.
Regulatory/Law: Risk Transfer Mechanisms: Additional insured or contract indemnitee? What difference does it make?
Risk Adviser: On Watch: Insurers must monitor climate change legislation that threatens the industry.
Technology: A New Dawn: COVID-19 is realigning risks for insurers and bolstering consumer appetite for digital approaches.
The Last Word: A Turn of Events: COVID-19 is forcing the cancellation of concerts and sports matches and bringing change to the event cancellation insurance market.
What AM Best Says: Threats Continue: Ransomware incidents help to fuel growth of cyber coverage.
What Readers Say: COVID-19 and Y2K: A reader shares experiences of dealing with a different ‘novel’ event years ago and looks at today’s challenges.