Published: January 2021

Next Steps

AM Best Research & Commentary: Market Segment Outlooks For Personal and Commercial Lines: AM Best also comments on COVID-19 economic risks for the U.S. life/annuity industry and the outlook for Peru’s insurance industry.

AM Best TV & Audio: Insurers Seek Federal Backstop To Pandemic Risk: Lawmakers are considering two proposals that address business interruption insurance related to COVID-19. AM BestTV and AM BestAudio report on stories from a number of sectors within the insurance industry.

AM Best Webinars: ESG’s Role in Insurance, Understanding EMEA Trends, A Market Briefing: Experts discuss environmental, social and governance criteria, innovation and the pandemic’s impact on the insurance industry.

Annuities: Burning At Both Ends: As consumers used to a bull market seek investment gains over guaranteed income, historically low interest rates complicate efforts of providers to meet the challenge.

At Large: An Insidious Risk: Technical debt is like a leaky pipe waiting to wreak havoc on a homeowner.

Books: Firsthand Accounts Help Peers Move Forward: Bryan Falchuk uses case studies from seven carriers to demonstrate how the industry can adapt to changing expectations and customer demands.

CEO Interview: (Climate) Change for the Better: Peak Re CEO Franz Hahn says the insurance industry should partner with government and academia to fast-track responses to global warming.

Entrepreneurial Agent/Broker: In Wholesale Distribution, Growth Is Propelled by Specialization, Talent and Tech: An expert panel distills the lessons of the Best Review–AM BestTV series on entrepreneurial agents and brokers.

Europe: AM Best: UK, European Insurers Under Increasing Pressure: Persistent low interest rates, other economic forces, and regulation have joined pandemic-related coverage as lingering issues, according to AM Best analysts.

Executive Changes: AIG Spins Off Life and Retirement Businesses, Names CEO: TIAA’s president and CEO to retire, Tennessee has new insurance commissioner, RLI names only third CEO in 55 years and Vindati names chief executive officer.

From the Editor's Desk: Insurtech Moves: Noteworthy developments for insurtechs include IPOs and mergers. Best’s Review also provides listings and coverage of insurers in India and in the Middle East and North Africa region.

In the News: Zurich Pandemic Insurance Plan Modeled on Crop Program: The concept calls for reinsurance pools that would allow companies to choose how much risk they would keep, an element that differentiates the proposal from others.

In the News: Major League Baseball Sues Over COVID Coverage Denials: MLB Commissioner Rob Manfred’s office, 30 ball clubs and MLB affiliates seek billions of dollars from lost ticket sales, sponsorships and advertising revenue.

In the News: Regulatory Update: Best Interest proposal, COVID liability shield and reduced auto assessment.

India: A Simpler Solution: India’s insurance regulator mandates that life insurers offer a basic policy to individuals between 18 and 65 without restrictions on gender, place of residence, travel, occupation or educational qualifications.

Industry Events: Meeting the COVID Challenge: Insurance industry event organizers keep options open, but many move to hybrid conferences amid 2021 pandemic uncertainty.

Industry Updates: Almost Picture-Perfect: Photo estimating for auto claims increases during pandemic.

Industry Updates: NAIC Update: Group Capital Calculation adopted and new slate of officers chosen.

Industry Updates: ‘An Invaluable Tool’: Guernsey regulator launches pilot pre-authorization for captive insurance cells.

Insurance Marketing: Marketing Lessons From Asia: Content marketing, mobile communications and artificial intelligence challenge traditional approaches in rapidly developing markets.

Insurtech: A Healthy Dose of Reality: Discovery Limited’s founder and CEO Adrian Gore talks about understanding behavioral biases around wellness and incentivizing related lifestyle choices, especially during a pandemic.

Insurtech: Turning a Corner: Insurtechs go through a wave of consolidation and in some cases merge with each other as they move into their next stage of development.

Insurtech: Laboratory of the Minds: How the Lloyd’s Lab, an insurtech accelerator, is building a bridge between the newest technology and the oldest insurance market.

Liability Claims: 2021: The Year Of Liability Claims: Pandemic-related claims and complaints are expected to keep insurers and courts particularly busy into the new year.

MENA: A Disciplined Response: Middle East and North Africa insurers change underwriting approach in response to quarantines, low oil prices.

Regulatory/Law: Election Effects: A Biden administration might signal the return to a dual regulatory dynamic for insurers.

Risk Adviser: Customers First: Insurers must offer quality customer service—especially during a hard market.

The Last Word: A Song in His Heart: RenaissanceRe founder Jim Stanard pursues his lifelong passion while continuing his insurance career.

What AM Best Says: Expert Opinions: AM Best: Survey reveals COVID bringing new challenges to professional lines.

Workers' Compensation: The Great Unknowns: Workers’ comp insurers face many uncertainties around COVID-related claims.