Rethinking Catastrophe Coverage

AI Survey: AM Best Survey: AI Appears Ready, but Many Insurers Plot Cautious Adoption Pace: Edin Imsirovic, director, and Kaitlin Piasecki, industry research analyst, AM Best, discussed the results of a recent AM Best survey, published in the Best’s Special Report Artificial Intelligence Appears To Be Ready, but Most Insurers Are Not.

AM Best Research: AM Best To Issue Cyber Market Segment Report on US Data in June: AM Best will examine the global cyber sector in a market segment outlook report scheduled for release in July.

AM Best TV & Audio: Tech Drives Record Growth in US Individual Life Insurance Sector, LIMRA/LOMA Exec Says: Professionals also explore how high-net-worth clients are reshaping insurance and discuss the need for strong oversight of agentic AI in the industry.

AM Best’s Student Challenge: Cell Captive System for Digital Creators Wins AM Best’s 2026 Student Challenge: The cell captive model aims to create a safety net for digital creators, according to the submission from students at Temple University.

AM Best’s Webinars & Briefings: Panelists To Discuss the D&O Insurance and Delegated Underwriting Authority Enterprise Sectors: Professionals also review the states of the Florida property and U.S. medical professional liability markets and explore key trends in U.S. auto insurance.

Academic Research: Future Insurance Leadership, Development Drive Innovation, Says MIT Educator and Author: Phillip Budden, MIT Sloan School of Management, discusses how tailored leadership programs—aligned with AM Best’s approach to assessing innovation—help insurers harness AI, digital transformation and growth mindset strategies.

App Store: Apps Give Cues To Guide Retirement Funds: One study says about half of all customers use apps to map out and manage the financial portion of their retirement. And insurers’ retirement apps provide the tools to help people make important decisions during the process.

Artificial Intelligence: Larger, More Frequent Catastrophes, New Risks Emerging as AI Looks Into Future Losses: AI platforms warn that cat losses exceeding $100 billion will become common for insurers as replacement costs rise and development pushes into areas previously thought of as off-limits.

Asset Management: NAIC Revamping Asset Management Oversight: The National Association of Insurance Commissioners is forming new task forces, implementing bond-related projects and developing new models to assess structured debt as regulators aim to keep pace with modern portfolios.

Best’s Country Risk Report: Cayman Islands Seeking Qualified Jurisdiction Status for Reinsurance: The Cayman Islands has a CRT-2 country risk rating from AM Best, with low levels of economic and political risk and moderate levels of financial system risk, according to a Best’s Country Risk Report.

Best’s Rankings: Largest European Insurers – 2026 Edition: Non-IFRS 17 companies ranked by 2024 gross premiums written. IFRS 17 companies ranked by 2024 insurance service revenue.

Best’s State Rate Filings: Allstate Affiliates Approved for Lower Personal Auto Rates in Louisiana: Imperial Fire and Casualty Insurance, an Allstate unit that typically covers higher-risk drivers and offers state-mandated minimums, has seen private passenger automobile insurance rate decreases of 6%.

Best’s State Rate Filings: Louisiana Private Passenger Auto Approved Rate Filings by Overall Effect With Decreases of 6.90% or Greater: Based on an effective date beginning on Jan. 1, 2025, through Dec. 31, 2026.

Bookstore: Author: Rising Risks Demand Smarter Commercial Property Coverage Decisions: Barry Zalma discusses in his book how clear policy communication and strong claims handling help insurers minimize coverage gaps in today’s high-risk environment.

Catastrophes: Cyberrisk: Cyberrisk at a Tipping Point as Insurers Work To Mitigate Emerging Threats: Insurance leaders spoke with AM Best TV at the RIMS Riskworld conference about how they are in a better position to quantify and identify what cyberrisks look like.

Catastrophes: MGAs: Catastrophe-Focused MGAs Filling Bigger Space in Property Catastrophe Market: In the past few years, a growing number of MGAs and MGUs have introduced greater capacity and the use of technology to tackle the issues surrounding the property catastrophe market.

Corporate Changes: Oklahoma Supreme Court Strikes Down Order Pausing CompSource Conversion: In March, the Oklahoma Department of Insurance approved CompSource’s conversion plan, which was swiftly met by a legal challenge claiming that conversion would improperly dilute ownership interest in the carrier.

Economic Calendar: Elections in Peru, Colombia Expected To Shape Two of Latin America’s Largest Economies: In June, the first Federal Reserve meeting in eight years will be held without Jerome Powell as chair.

Events Calendar: IASA Xchange Among June Conference Highlights: The IAIP will host its 85th convention in Norfolk, Virginia, and Guy Carpenter Italia’s CEO will speak at AM Best’s Insurance Market Briefing — Milan.

Executive Changes: Aon Promotes North America CEO to Vice Chair, Names Successor: Axis Capital appoints new CFO, Farmers hires chief strategy and risk officer, and Axa UK & Ireland taps general counsel.

From the Editor’s Desk: Best’s Review Ranks Top Preferred Podcasters and Publishers: The June issue also includes coverage of catastrophe-focused MGAs and emerging cyberrisks.

Industry Research: Report: Middle East Fighting Tightens Aviation Insurance Market Exposure: Other industry reports examine rising medical costs and offer insights about private equity investing in MGAs.

Industry Updates: Federal Court Vacates ‘Listed Transaction’ Portion of IRS Microcaptive Rule: The goal was to end what the IRS said were abusive microcaptive structures, which lack many of the attributes of genuine insurance.

Industry Updates: NAIC: ‘Model Cards,’ Clear Risk Classification Key to Implementing AI Bulletin Adopted in States: Dorothy Andrews, a senior behavioral data scientist and actuary at the National Association of Insurance Commissioners, spoke of AI monitoring.

Industry Updates: New York Bill Would Allow Buy-In to State Health Plans as Looming Federal Cuts May Expand Uninsured Population: Currently, Essential Plan policies have no monthly premiums, no deductibles and low cost-sharing provisions, according to the New York State of Health, the state’s marketplace.

Industry Updates: UK Regulators Reveal Details of Consultation Aimed at Making Nation a More Attractive Domicile for Captives : In July 2025, His Majesty’s Treasury said it wanted to implement a framework by mid-2027 that would expand and support a captive insurance sector.

Issues & Answers: Asset Management: Infrastructure Debt Edge: Institutional investors have been steadily increasing their allocations to infrastructure debt in recent years, drawn by its combination of long-duration cash flows, contractual structures, and diversification benefits relative to traditional fixed income. Orhan Sarayli, Head of Barings North America Infrastructure Group, spoke with Best’s Review to explore how infrastructure debt is being used within insurer portfolios. Following are excerpts from the interview.

Issues & Answers: Asset Management: Staying the Course: Elizabeth Henderson, Head of Fixed Income at AAM, said that the integration between research and trading allows the company to pair strong credit conviction with efficient execution. Following are excerpts from an interview.

Leading the Charts: The Voice of Insurance Leads AM Best’s Top 30 Preferred Podcasters List: Several podcasters broke into the top 10 as Best’s Review expands ranking of top podcasters to 30.

Life/Annuities: AM Best: Credit Quality of Annuity Reserves Declined From 2007 to 2025 on the Credit Ratings Scale: Established market players have been downgraded—even as a Best’s Special Report shows funds held to back individual annuity policies now account for more than a third of the U.S. life/annuity segment reserves.

Louisiana Auto: Largest Louisiana All Private Passenger Auto Writers – 2026 Edition: Ranked by 2024 direct premiums written.

Louisiana Auto: Web Traffic: Visits to Top Louisiana All Private Passenger Auto Writers’ Sites: Progressive Insurance Group leads web analytics provider Semrush's ranking of most-visited Louisiana all private passenger auto writers’ sites.

Louisiana Auto: State Farm Tops Louisiana Auto List: State Farm earned $1.79 billion in direct premiums written in 2024.

Middle East Shipping: Iran Conflict Puts Spotlight on Maritime Insurance Issues: As naval conflict puts pressure on the economically important Persian Gulf, insurers have had to explore new solutions.

Preferred Influencers: ‘Lo$$ Ratio’ Freestyles With Insurance: The alter ego of National Insurance Inspection Services President Curtis Goldsborough offers a creative outlet with a hip-hop flavor to highlight a “predict-and-prevent” approach to coverage.

Preferred Podcasters: Insurance Banter With Burand & Borup Breaks Down the Industry’s Complexities: Podcast hosts Chris Burand and Paul Borup say they explore the industry by providing expert interviews and industry commentary in a way that’s simple to understand.

Preferred Publishers: The Standard Emphasizes Community, Securing a Regional Audience: The publication’s focus on New England gives it a strong foothold among the region’s agents and insurers, Publisher Susanne Edes Dillman says.

Trending: Best’s News: Top Stories Include Features About How Insurers Are Responding to a Build-Out of AI Data Centers: Other popular stories include coverage of State Farm seeking a settlement in a class action lawsuit and spring layoffs at Prudential Financial.

Trending: Best’s Research: Trending Research Includes a Report on the Credit Quality of Annuity Reserves: Other trending research includes reports on 2025 U.S. property/casualty and life/annuity

Underwriting & Loss Control Resources: Patrons Could Get More Than They Bargained for at Flea, Farmers Markets: Best’s Underwriting Reports and Best’s Loss Control Reports provide insights into the risks and lines of coverage for flea markets and farmers markets.

What AM Best Says: AM Best’s Analytical Briefing: European MGAs Branch Out as Landscape Changes: The European MGA market is smaller but it is faster growing than the United States business, panelists said during AM Best’s Analytical Briefing — DUAEs: Europe’s MGAs — Catalysts for Change.

What AM Best Says: Web Traffic: Visits to Top European Insurers’ Sites: Chubb Ltd. leads web analytics provider Semrush's ranking of most-visited European insurers’ sites.