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COVID-19 Turmoil Is Taking a Toll

AMBestTV and AMBestRadio report on the insurance implications of the COVID-19 pandemic and the resulting economic turmoil.
  • May 2020
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Scott Stransky

On Demand

AIR’s Stransky: Hackers Leverage Coronavirus Concern To Promote Cyberattacks

Scott Stransky, vice president of emerging risk modeling, AIR Worldwide, said worries over COVID-19, combined with more people working outside of offices, are creating opportunities for phishing and other cyber exposures.


Mitch Wein

Novarica SVP: COVID-19 Could Put Pressure On Workers’ Comp, Life Insurers

The quickly spreading COVID-19 virus could spike workers’ compensation and life insurance claims, said Mitch Wein, senior vice president, consulting and research, Novarica.


Sally Rosen

AM Best: US Health Insurers Adjust to COVID-19 Spread

Health insurers are bracing for increased frequency and severity of claims due to COVID-19, said Sally Rosen, senior director with AM Best Rating Services.


James Gillard and Stefan Holzberger

AM Best: Response to COVID-19 Crisis Will Involve Range of Initiatives

James Gillard, executive vice president and chief operating officer, and Stefan Holzberger, chief rating officer, both of AM Best Rating Services, said the organization is taking steps to examine and monitor all facets of the insurance industry in light of the coronavirus outbreak, including stress testing, gathering data from rated companies, issuing additional research and more.


Kenneth Johnson

AM Best: Market Segment Outlook For US Life/Annuity Revised to Negative

Kenneth Johnson, senior director, AM Best Rating Services, said the change to a negative outlook is based on the impact of the COVID-19 outbreak, slowing economic conditions and record-low interest rates.


Ann Modica

AM Best: Recession Length Depends on COVID-19 Path

Ann Modica, economist, AM Best Rating Services, says “We basically need to cause a recession in order to curtail the spread of the disease.”


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Looking at Risk, Suggestions for Agents

Industry experts talk with AMBestRadio about contingency plans and communication during the coronavirus pandemic.

 

FM Global Chief Underwriter: Coverage of the Coronavirus Is a Risk Management ‘Dilemma’

While the COVID-19 outbreak isn’t likely to trigger most commercial property policies, it is forcing risk managers to review contingency plans, said Jeff Beauman, vice president and chief underwriter of FM Global.

 

Communicating to Agents Amid COVID-19 Misinformation

Jennifer Torneden, senior vice president and head of distribution, Aon Affinity, explains the need for insurers to communicate to agents what they should be discussing with clients during the coronavirus outbreak.


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