Published: September 2023
AM Best TV & Audio: Selective Exec: Despite Obstacles, Construction Industry Remains Strong, Embraces New Technologies: Also, professionals discuss the need for Ukraine insurance market recovery efforts and explore the MENA insurance sector.
AM Best TV & Audio: Study: Americans View Insurance Fraud Differently Than Other Financial Crime : Also, AM Best Audio examines how the escalating intensity of convective storms is affecting the insurance industry.
AM Best’s Webinars: Panelists To Explore the Current State of the Surplus Lines Market: Professionals also examine the captive insurance sector and discuss how insurers can protect their claims departments from cyberfraud.
App Store: Consumers Report Declining Satisfaction With Insurance-Related Apps: A recent J.D. Power study recommends insurers look to their banking peers for how to improve the digital experience.
Asset Management: Hedge Fund Investing Continues To Fall Out of Favor With Insurers: Strategy that often includes loss of investment control, high capital charges never quite fit in an industry where liquidity reigns.
At Large: Artificial Intelligence Is the Personal Assistant We Didn’t Know We Needed: The proliferation of information available today is more than mere mortals can handle, leaving AI as the best way to unlock the potential of ubiquitous data.
Behavioral Science: How Emotional Reactions to Major Events Can Help Propel Decisions, Life Insurance Sales: Behavioral science shows an individual’s feelings toward risk are useful and often beneficial in decision-making.
Best's Rankings: US Life/Health – 2022 Ordinary Life Average Policy Size and Lapse Ratios – 2023 Edition: Ranked by 2022 ordinary life business issued.
Best’s Insurance Professional Resources: Marshall Dennehey Launches Catastrophic Claims Group: To further support clients facing complex, high-exposure litigation from catastrophic events, Marshall Dennehey has launched a Catastrophic Claims Litigation practice group.
Best’s Rankings: Top 50 Global Reinsurers – 2023 Edition: Ranked by 2022 unaffiliated gross premiums written.
Best’s Rankings: US Life/Health – Group Life In Force – 2023 Edition: Ranked by 2022 group life business in force.
Best’s Rankings: US Life/Health – Group Life Issued – 2023 Edition: Ranked by 2022 group life business issued.
Best’s Rankings: US Life/Health – Ordinary Life In Force – 2023 Edition: Ranked by 2022 ordinary life business in force.
Best’s Rankings: US Life/Health – Ordinary Life Issued – 2023 Edition: Ranked by 2022 ordinary life business issued.
Best’s Rankings: US Life/Health – Term Life In Force – 2023 Edition: Ranked by 2022 term life business in force.
Best’s Rankings: US Life/Health – Term Life Issued – 2023 Edition: Ranked by 2022 term life business issued.
Best’s Rankings: US Life/Health – Total Life In Force – 2023 Edition: Ranked by 2022 total life business in force.
Best’s Rankings: US Life/Health – Total Life Issued – 2023 Edition: Ranked by 2022 total life business issued.
Best’s Rankings: US Rating Units – Largest Hedge Fund Investors – 2023 Edition: Ranked by 2021 hedge-fund investments’ book-adjusted carrying values.
Best’s Rankings: Mutual Insurers: Top 25 US Life/Health Mutual Companies – 2023 Edition: Ranked by 2022 total net admitted assets.
Best’s Rankings: Mutual Insurers: Top 25 US Property/Casualty Mutual Writers – 2023 Edition: Ranked by 2022 net premiums written.
Book Store: When Developing and Introducing the Latest Innovations in Insurance, Don’t Go It Alone : Insurance Evolution Partners’ Bryan Falchuk discusses the merits of collaboration when bringing new solutions to market.
Corporate Changes: Acquisitions, State Actions, Merger and Ownership Changes: Delaware Life, Independent Specialty and Wisconsin Reinsurance are among the U.S. life/health and property/casualty insurers that have experienced a corporate change.
Emerging Asia: Foreign Insurers Race To Fill Gaps, Find Opportunity in Emerging Asia: Changing demographics and the need for coverage are among the attractions in life and nonlife markets in countries such as India and China.
Executive Changes: Allianz Appoints CFO, Fills Global Head of Natural Resources Post: Everest taps chief information security officer, RenaissanceRe names permanent group CRO and Munich Re hires chief underwriting officer.
From the Editor’s Desk: Centuries in the Making, Mutuals Continue To Evolve: This month’s issue examines the performance of the mutual insurer sector and includes a ranking of the largest U.S. property/casualty and life mutuals. This issue also includes an interview with Leslie Scism, who covered the insurance industry for three decades at the Wall Street Journal before retiring in June.
Insurance Media : Wall Street Journal Reporter’s Insurance Coverage Has Lasting Impact on Industry: Leslie Scism, who retired in June after 30 years at the newspaper, exposed controversies and also provided a template for investigative reporting within the insurance space.
Insurance Professional Resources: Florida Trend Names Hope Zelinger to Legal Elite List: Bressler, Amery & Ross has announced its Miami managing principal, Hope Zelinger, has been included in Florida Trend’s Legal Elite list of “Notable Managing Partners.”
Issues & Answers: Issues & Answers: Insurtech • Surplus Lines: Insurance technologists discuss advances in voice technology and its use in the insurance industry. Industry executives also discuss environmental underwriting and opportunities in the surplus lines market.
L/H Mutual Insurers: Life Mutuals Are Driving Efforts To Expand Middle Market Coverage: Mutual insurers say their longer-term approach serves policyholders, who each own a stake in the business.
P/C Mutual Insurers: The Mutual Mindset: Slow and Steady: While property/casualty mutuals hit rough seas in 2022, they typically steer toward long-term financial stability.
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: Court Definition of ‘Hostile’ Could Have Widespread Implications for War Exclusions: Insurers urged a broad reading of the word by the New Jersey Appellate Division to avoid coverage for a cyberattack on more than 40,000 machines in Merck’s global network.
State Rate Filings: TWIA Board Recommends Flat Rates for 2024, Despite Concerns Over Storm Impacts: A Texas Windstorm Insurance Association staff report found residential rates are inadequate by 20% and commercial rates by 22%.
State Rate Filings: Texas Homeowners Multiperil Approved Rate Filings by Overall Effect With Increases of 20% or Greater: Based on an effective date beginning Aug. 1, 2022, through Aug. 1, 2023.
The Last Word: US Mutual Insurer Domiciles: Most U.S. mutual insurers are domiciled in the northeastern part of the United States, with New York and Pennsylvania leading the way. New Hampshire and Alaska have none.
Trending: Best’s Research: Trending Research Includes a Market Segment Report on Workers’ Compensation: Other trending research includes a report on three-month 2023 U.S. life/annuity financial results.
Underwriting and Loss Control: Quick Rebuild After I-95 Collapse Highlights Iron, Steel Erection Risks: Best’s Underwriting & Loss Control Resources provides insight into the lines of coverage for contractors who build and repair highways and bridges.
Web Traffic: Web Traffic: Visits to Top P/C Mutual Insurance Sites: State Farm Group leads web analytics provider Semrush’s ranking of most-visited property/casualty mutual insurer websites.
What AM Best Says: AM Best Briefing: Rising Costs, Competition Shape Growing Medical Stop-Loss Market: More growth is expected, with employers wanting protection from rising claim costs and more expensive treatments, according to Sally Rosen, senior director, AM Best.