AM Best TV & Radio
Wildfires, Wearables and Brexit
AMBestTV reports on how the California wildfires may affect the industry, the possible loss of passporting rights post-Brexit and how younger insureds are embracing wearables.
- January 2019
Jason Hopper associate director and David Blades, senior research analyst, both with AM Best, say losses from the recent wildfires in California will put pressure on homeowners insurers. They may face uncertainty from regulators regarding future rate increases, or may choose to reduce their own risk tolerance. The analysts also discuss the maturity of wildfire models, factors leading to a greater number of California wildfires, including population growth and urban sprawl, budgetary concerns complicating wildlife management and how the wildfires will impact reinsurance costs and primary market fundamentals. (Nov. 20, 2018)
Catherine Thomas, senior director of analytics, AM Best, said insurers are preparing for the possibility that the United Kingdom will leave the EU without securing agreements to protect cross-border insurance relationships. While the possibility of losing passporting presents a challenge, Thomas said insurers are putting together contingency plans. (Nov. 28, 2018)..
Bill Glueck, vice president, PAI Health, said wearable devices that record patients’ health data face some early resistance, but are likely to become more common as adoption spreads among younger insureds. Glueck spoke with AMBestTV at the Limra Loma conference in New York. (Nov. 15, 2018)
Malcolm Newman, chairman, International Underwriting Association and managing director, Scor London Hub, said Lloyd’s and Scor are using the London Market’s evolving electronic platform to place a growing share of business. Newman spoke with AMBestTV at the 2018 Insurance Market Briefing in London. (Nov. 13, 2018)
Jose Manuel Fonseca
Jose Manuel Fonseca, chairman, Brokerslink, said insurance growth in many regions of the world trails the double-digit growth found in parts of Asia. Fonseca spoke with AMBestTV at the 2018 Brokerslink conference, held in Hong Kong. (Nov. 21, 2018)
Steve Kinion, director of the bureau of captive and financial insurance products, Delaware Insurance Department, said the state now allows selected captive organizers to launch captive insurers upon submission, with six months to establish permanent licensing. He noted that Delaware is the fastest-growing U.S. captive insurance domicile in terms of captive insurance premium. (Nov. 9, 2018)
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Markets for Unionized Labor, Surplus Notes
A.M.Best Radio speaks with the president of Union Labor Life Insurance and Stonybrook Capital’s managing director.
Stephanie Whalen, president, Union Labor Life Insurance Co., said the insurer plans to broaden its reach across a growing range of channels and offer a wider range of products to the U.S. unionized labor force.
Ravi Arps, managing director, Stonybrook Capital, said the financing tool available to mutual insurance companies faces a fragmented market, but has demonstrated it can be an attractive option for insurers and investors.
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