Published: December 2022
AM Best TV & Audio: Assessments, Best Practices Designations Help MGAs Stand Out, Zurich Exec Says: Also, professionals examine the increased use of sensor technology to mitigate risk and discuss how to stem the insurance industry’s talent shortage.
AM Best Webinars: Panelists Discuss What’s Ahead in 2023 for the Insurance Industry, Workers’ Comp Market : Professionals also examine how insurers can use modern product management to weather economic downturns.
App Store: J.D. Power: P/C Insurer App, Digital Investments Not Enough to Offset Rates: Carriers invested heavily to modernize the insurance experience. Is it paying off?
Asset Management: Insurers’s Balance Sheets Increasingly See Unrealized Losses In Rising Asset Management Challenge: A new consequence of rising interest rates rears its head as unrealized losses crop up. For insurance asset managers, one option might lie in taking paper losses after a decade of low rates crimped investments.
At Large: After COVID-19, Insurance Industry Must Adapt to Emerging Risks: Expect the industry in 2023 to place a stronger focus on systemic and cascading risks, particularly those connected to catastrophic events.
Auditors and Actuaries: COVID-19 Mortality Trends, Interest Rates and Climate Change Seen as Key Issues for Actuaries in 2023: Nik Godon, director of insurance consulting and technology at WTW, says actuaries can expect a lot of uncertainty and volatility in 2023. Godon was one of the speakers at the Society of Actuaries’ ImpACT conference. Special Section sponsored by Johnson Lambert.
Auditors and Actuaries: Top Audit and Actuarial Firms: The firms were ranked by loss reserves. Special Section sponsored by Johnson Lambert.
Best's Rankings: Largest US Surplus Lines Insurers — 2022 Edition: Insurers were ranked by 2021 direct premiums written.
Best's Rankings: Top 25 US Fire and Allied Writers — 2022 Edition: Writers were ranked by 2021 direct premiums written.
Best's Rankings: Top 25 US Inland Marine Writers — 2022 Edition: Writers were ranked by 2021 direct premiums written.
Best's Rankings: Top 25 US Ocean Marine Writers — 2022 Edition: Writers were ranked by 2021 direct premiums written.
Best's Rankings: US Fire and Allied Lines — Top Writers by State, Canada and US Territories — 2021 — 2022 Edition: Writers were ranked by 2021 direct premiums written.
Book Store: Harnessing Insurance and Risk Transfer Tools to Improve Resilience: Carolyn Kousky examines the complexity of risk transfer markets and how to secure a resilient future.
Executive Changes: Zurich Insurance Group Names Successor to Retiring Farmers CEO: Marsh McLennan appoints a new president and CEO, SiriusPoint hires a new CFO and Munich Re and Allianz Trade announce changes to their boards of management.
From the Editor’s Desk: In New Year, Insurers Face Prospects of Inflation and Recession; Best’s Review Will Debut New Online Format: The December issue includes Best’s Review’s annual listing of top auditors and actuaries as well as rankings of U.S. surplus lines insurers and U.S. inland marine, U.S. ocean marine and U.S. fire and allied writers.
Inland Marine Insurance: Keep on Trucking: Online Shopping Helped Drive Inland Marine Premiums Over the Last Decade: The growing inland marine segment added $15.7 billion in direct written premium from 2011 through 2021, aided by the escalation in online shopping.
Insurance Professional Resources: Lost Evidence Figures into Subrogation Claims: Additional coverage includes the addition of six attorneys at Tressler and the recognition of a Phelps partner by a legal industry publication.
Life Insurance: MassMutual Prepares for the Worst Amid 2023 Warning Signs: As 2022 draws to a close, Chairman and CEO Roger Crandall seeks to build on the company’s strengths in technology and annuities as any number of issues—inflation, interest rates, the Russian invasion of Ukraine and energy volatility—weigh on his mind.
Preferred Publisher Program: In Other News ...: A roundup of news from publishers around the globe. Access to some sites may require registration or subscription.
State Rate Filings: Commercial Inland Marine Filings by Rate Impact Greater Than 10%: Commercial inland marine insurers made more than 30 filings for rate increases of greater than 10% with a disposition date from Jan. 1 to Oct. 1, 2022.
The Last Word: Former Olympic Hockey Hopeful Takes Competitive Spirit Into the Insurance Arena: Insurers shouldn’t be afraid to fight for their insureds in court, says Prime Insurance CEO Rick Lindsey.
Trending: Best's Research: Trending Research Includes Reports on Rising Interest Rates and Private Equity: Other trending research includes a market segment outlook on U.S. personal auto and a report on the insurance-linked securities market.
Underwriting & Loss Control: No Kidding: Goat Yoga Presents a Whole New World of Liabilities: Best’s Underwriting Reports and Best’s Loss Control Reports provide insights into the lines of coverage, exposures and loss control associated with yoga and its specialties, which include practicing in the presence of goats.
Web Traffic: Visits to US Inland Marine Writers: Progressive leads web analytics provider Semrush's ranking of the top 10 U.S. Inland Marine Writers based on 2021 direct premiums written.
What AM Best Says: AM Best: Inflation Will Impact Insurance in 2023, but Expect Moderation: Three AM Best analysts discuss expectations of a hard market, and in commercial lines, most of the premium growth will come from price increases due to the impact of social inflation and economic inflation.
What's Ahead in 2023: APCIA: Inflation Will Make the P/C Industry Pay in 2023: The American Property Casualty Insurance Association is worried that inflation exacerbated by natural disasters such as Hurricane Ian and social inflation will make the industry suffer next year.
What's Ahead in 2023: Mix of Forces Set to Shape Insurance Markets in Coming Year: Inflation, recession, interest rates and more present new concerns for insurers.