AM Best TV and Audio
The Challenge of Predicting Unexpected Perils
Satellites track insurers’ moving assets in times of peril, hurricane response plans need review and coverage from VCIA’s virtual conference. AMBestTV and AMBestAudio report on stories from a number of sectors within the insurance industry.
- October 2020
Insurers are using satellites to track moving assets from perils, said Sarah Bourke, CEO, Skytek, and Christian Silies, head, Marine &Energy Composite, Reinsurance Solutions, Aon. As events that unfold over a short period of time, such as hurricanes, and that are subject to intensive modeling and then management scrutiny, the demand from management on marine insurers and underwriters has increased to come up with a view on the exposures in these events.
Marla Schwartz Pourrabbani
Fifteen years after Hurricane Katrina, the costliest natural catastrophe ever, only one-in-six homes has flood insurance, said Marla Schwartz Pourrabbani, AVP, Swiss Re Institute.
Insurance and technical experts, including Kimberly Brown, director, product management for LexisNexis Risk Solutions, discuss how life insurers are moving communications into the digital realm, and how they also need certainty about who is on the other side of those communications.
The COVID-19 pandemic adds a layer of complexity to hurricane response plans, said James MacDonnell, director, crisis management/ business continuity, with advisory firm BDO
Ellen Charnley, president, Marsh Captive Solutions, said the proposed federal Pandemic Risk Insurance Act would help provide a backstop to all licensed insurers, including captives.
David Provost, deputy commissioner, Captive Insurance Division, Vermont, said some sponsors of captives domiciled in that state have turned to their captive to help alleviate financial crunches during the recent pandemic.
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Coronavirus Affects Underwriting, Consumers
Industry professionals talk with AMBest Audio about what underwriters are learning from the pandemic and how consumer shopping habits have changed.
Chris Behling, chief underwriter for life and health U.S., Swiss Re, discusses the lessons learned from the COVID-19 pandemic and how life/health underwriting will change for years to come.
David Drotos, vice president of insurance solutions at TransUnion, discusses how the COVID-19 pandemic has changed the way consumers shop for their car insurance, including the shift toward more online purchasing.
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