Published: October 2020
Independent Streak
AM Best Research & Commentary: Reinsurance Sector Outlook Is Stable Amidst Pandemic: AM Best also notes underwriting gains for Medicare Advantage and comments on group capital rules in Hong Kong.
AM Best TV and Audio: The Challenge Of Predicting Unexpected Perils: Satellites track insurers’ moving assets in times of peril, hurricane response plans need review and coverage from VCIA’s virtual conference. AMBestTV and AMBestAudio report on stories from a number of sectors within the insurance industry.
AM Best Webinars: Modeling for U.S. Perils, Hot Topics in Canada,Tapping Into Pet Insurance: Experts discuss the technical advances of U.S. peril models for earthquake, hurricane and flood, industry issues in Canada and how insurers can embrace new strategies to tap into the pet insurance market.
At Large: Transforming Auto Claims: Claims maturity follows a three-stage model.
Auto Insurance: Independent Streak: Independent agents take the spotlight following moves by Allstate, Nationwide and others.
Best's Rankings: Top Auto Writers: Ranked by 2019 direct premiums written.
Best's Rankings: U.S. Life/Health — 2019 Assets Distribution: Ranked by 2019 total admitted assets.
Books: Insurance Exec Memoir: Brian O’Hara shares stories and wisdom from his career as the founding president of XL Capital.
Corporate Changes: State Actions, Domiciliary Changes, Mergers : Cypress Texas Insurance Co. and Centurion Casualty Co. are among the property/casualty insurers in the United States that have had a merger, a change of domicile or another corporate change.
Executive Changes: American Family Insurance Names CEO-Elect: Also, AIG names CEO of general insurance; Chubb chooses leaders for North America and global underwriting, claims; USAA creates chief brand officer role and Woodrow Cross, founder of Cross Insurance, dies at 103.
From the Editor's Desk: Autos and Agents: Best’s Review publishes AM Best’s top auto insurer rankings and looks at auto insurance distribution strategies as Allstate makes a deal to boost its presence with independent agents.
In the News: Aon: COVID-19 Improves Reinsurance Demand: Rising risk exposures and increasing risk awareness are translating into a greater need for reinsurance.
In the News: Regulatory Update: The NAIC seeks comment on annuity model; two states seek to block limited health plans and Nevada law shields casinos from COVID liability.
In the News: Swiss Re: Prices to Rise To Cover Increasing Loss Trends: To achieve a reasonable return on equity through 2021, nonlife insurers in G7 markets need to improve underwriting margins.
Industry Updates: Headwinds Remain: AM Best webinar: Canada’s property/casualty sector fares better than the life/health business in the COVID era.
Industry Updates: Legal Issues: London market trade group warns on solicitors coverage shortfalls.
Insurance Marketing: Partner Up: AIG extends its sponsorship of the LPGA Tour’s oldest major championship and an insurer continues its sponsorship of a Canadian football team after it changes its name.
Insurtechs: Finding Their Footing: First-half P/C insurtech net losses narrow or move to profit as businesses mature.
Life Insurance: Lands of Opportunity: Rising ranks of the middle class, wealth creation and an existing protection gap make Asia’s lucrative insurance market ripe for multinational players to stake their claims. But the region’s diverse cultures and regulatory frameworks also make it a complex environment.
Life Reinsurance: Chart a Course: The landscape for U.S. life/annuity reinsurance is becoming more complex and intermediaries are stepping in to help navigate the challenges.
Regulatory/Law: ESG Comes To the Fore: Many insurance companies look at environmental, social and governance criteria as part of making future plans.
Reinsurance: A Complex Situation: AM Best: A combination of positives and negatives has led to a stable outlook for the reinsurance sector.
Risk Adviser: Outer Limits: Looking out peripherally to identify emerging risks and then taking action is sound risk management.
Technology: In the Cloud: Migrating systems to the cloud in the age of COVID and climate change has several advantages.
The Last Word: Silent Movies: Sales of TV and film production insurance are starting to rebound after COVID-19 upended the industries and brought productions to a halt for several months
What AM Best Says: Obstacles Remain: AM Best: Low interest rates, potential ‘fallen angels’ challenge life/annuity writers.