Published: July 2023
AM Best TV & Audio: Drivers Are More Distracted Than Ever, Thanks to Mobile Technology, Travelers Risk Index Says: Also, AM Best Audio examines how active directory hardening can decrease the risk of cyber issues.
AM Best TV & Audio: Metaverse Is Teeming With Risk, Gallagher Exec Says : Also, professionals discuss property valuation issues and explore the growing use of embedded insurance.
AM Best Webinars: Panelists Examine Current Trends, Risks and Opportunities in Cyber Insurance Sector: Professionals also discuss effective marketing and advertising strategies and explore how to achieve profitable property underwriting.
App Store: App Aims To Protect Personal Electronic Devices Against Cyberattacks: WhiteHaX CyberSafe by HSB, a Munich Re company, identifies vulnerabilities and blocks viruses.
Best’s Rankings: Top 20 Global Brokers - 2023 Edition: Ranked by 2022 total revenue.
Book Store: Paving the Way: Chronicles of Black Entrepreneurs Who Transformed the Insurance Industry: Encore Insurance Group’s Rod Powell shares the stories of five trailblazers whose contributions continue to have an impact.
Corporate Changes: Mergers, Acquisitions, State Actions and Name, Ownership and Domiciliary Changes: Landmark Life, Friday Health and R.V.I. America are among the U.S. life/health and property/casualty insurers that have experienced a corporate change.
Critical Issues in Asset Management: Expert Panel: Critical Issues in Insurance Asset Management: Insurance investors are finding opportunities that harken back to “the good old days,” when investment-grade fixed income was all the rage.
Executive Changes: Gallagher Re Chief Executive Retires; Company Names CEO of UK Operations: Lloyd’s fills new chief underwriting officer role, QBE Re hires chief partnership officer and Talanx appoints chief risk officer.
From the Editor’s Desk: Cover of July Issue Features AM Best Publications To Illustrate ‘Standing the Test of Time’: This month’s Best’s Review also includes rankings of the top global brokers and P/C managing general agents as well as the industry’s largest U.S. property/casualty and life/health insurers.
Global Brokers Ranking: Top 20 P/C Managing General Agents – 2023 Edition: Ranked by 2022 direct premiums written.
Global Brokers Ranking: Top Global Insurance Brokers – 2023 Edition: Marsh McLennan once again claimed the top spot, while Howden jumped from 15th to 12th, and CBIZ fell to 20th.
Insurance Professional Resources: Best’s Insurance Professional Resources:
Insurance Professional Resources: Biosweep Offers Virtual Course:
Insurance Professional Resources: Rathbone Group Names New Managing Partner:
Issues & Answers: Issues & Answers: Specialty Coverage • Inflation: Industry experts discuss how the private flood market is growing quickly due to better data, and how inflation is affecting claims costs and settlement patterns.
Issues & Answers: Inflation: Impact of Inflation: Derek Freihaut, Principal and Consulting Actuary for Pinnacle Actuarial Resources, said that inflation in 2022 was particularly significant to many insurers because of the replacement costs of big-ticket items. “Insurers will have to deal with rising reinsurance costs as a percentage of their overall premium at the same time they are dealing with increases in overall losses due to inflation,” he said. Following are excerpts from an interview.
Issues & Answers: Specialty Coverage: A Flood of Offerings: Neal Schmidt, Vice President of Underwriting, Specialty Property at Philadelphia Insurance Companies, said flood resilience is all about the ability to withstand and rapidly recover. “Resilience is proactively targeting a city’s capacity to tolerate flooding, prevent floods from entering the property, and make it easier to recover after a loss,” he said. Following are excerpts from an interview.
Life Insurance: Insurers Working To Narrow $12 Trillion Gap in US Life Insurance Coverage: A growing portion of the insurance industry views closing the divide as a way to shrink the larger wealth gap across various segments of the population.
Preferred Publisher Program: In Other News ...: A selection of stories from publishers around the globe. Access to some sites may require registration or subscription.
Regulatory/Law: Guns and Insurance: Not a Good Mix: A federal court recently found that coverage does not extend to people wielding a gun that discharges and injures someone.
Risk Adviser: The PFAS Investment Opportunity: Investing in technology necessary to remediate poly- and perfluoroalkyl substances could be a boon to insurers facing litigation related to these so-called forever chemicals.
Standing the Test of Time: BestMark for Rated Insurers:
Standing the Test of Time: BestMark for ‘Standing the Test of Time – 2023 Edition’ Insurers:
Standing the Test of Time: Best’s Ratings:
Standing the Test of Time: Life/Health Insurers Rated A or Higher for 50 Years:
Standing the Test of Time: Life/Health Insurers Rated A or Higher for 75 Years:
Standing the Test of Time: Property/Casualty Insurers Rated A or Higher for 100 Years:
Standing the Test of Time: Property/Casualty Insurers Rated A or Higher for 50 Years:
Standing the Test of Time: Property/Casualty Insurers Rated A or Higher for 75 Years:
Standing the Test of Time: Standing the Test of Time – 2023 Edition: In this edition, 167 insurers maintained a Best’s Financial Strength Rating of A or higher for at least 50 years, including 22 for at least 100 years.
State Rate Filings: Medical Malpractice Approved Rate Filings by Overall Effect With Decreases Greater Than 1%: Based on a disposition date beginning May 1, 2022, through May 1, 2023.
State Rate Filings: Medical Malpractice Approved Rate Filings by Overall Effect With Increases Greater Than 30%: Based on a disposition date beginning May 1, 2022, through May 1, 2023.
The Last Word: For Drivers, Even the Cutest Pet Passengers Could Create Potentially Deadly Distractions: Recent insurance company survey results show the impact of unrestrained animals on vehicle safety.
Top 200 US L/H Insurers: Top 200 US Life/Health Insurers - 2023 Edition: Industry’s 2022 admitted assets decreased 4.6%.
Top 200 US P/C Writers: Top 200 US Property/Casualty Writers - 2023 Edition: Industry’s 2022 net premiums written increased 8.6%.
Top 25 US Holding Companies: Top 25 US Holding Companies - 2023 Edition: Ranked by Assets ($ Thousands)
Top 25 US Holding Companies : Top 25 US Holding Companies - 2023 Edition: Ranked by Revenue ($ Thousands)
Top 75 US, Canada Public Insurers : Top 75 US and Canada Public Insurers - 2023 Edition: Ranked by 2022 revenue.
Top 75 US, Canada Public Insurers : Top 75 US and Canada Public Insurers - 2023 Edition: Ranked by 2022 assets.
Trending: Best’s News: Top Stories Include a Magazine Feature on a Decrease in the Industry’s Underwriting Expense Ratio: Other trending stories include a look into climate risk regulation and coverage of insurance company earnings.
Trending: Best’s Research: Trending Research Includes a Market Segment Report on Medical Professional Liability Insurance: Other trending research includes market segment reports on DUAEs and on D&O insurance.
Underwriting & Loss Control: Fires, Hacking Are Just 2 Hazards at Electric Vehicle Charging Stations: Best’s Underwriting & Loss Control Resources provides insight into the lines of coverage for electric vehicle charging station manufacturers.
Web Traffic: Web Traffic: Visits to Top Global Insurance Brokers Sites: Aon plc leads web analytics provider Semrush's ranking of insurance brokers sites.
What AM Best Says: AM Best’s Briefing: D&O Liability Market Softens Amid Rising Competition, Capital Supply: After a period of hard market conditions, 2022 was a year of transition.
World’s Largest Insurers: World’s Largest Insurance Companies - 2023 Edition: Based on 2021 net premiums written.
World’s Largest Insurers: World’s Largest Insurance Companies - 2023 Edition: Based on 2021 net nonbanking assets.