AM Best TV & Audio
Stronger Hurricanes May Put More Inland Areas at Risk in the Future
Also, insurance industry professionals discuss pet prescription coverage and new regulations on the use of commercial drones.
- April 2021
By the year 2050, stronger hurricanes may pose a greater threat to inland areas, said Roger Grenier, senior vice president, AIR Worldwide. The firm, in collaboration with the Brookings Institution and Axis, released a report about potential impacts from strong storms.
Nationwide has joined with Walmart to offer pet owners lower cost pet prescription coverage, said Heidi Sirota, chief pet officer, Nationwide. Other goals are to streamline claims and expand pet insurance.
The use of drones continues to make inroads into the insurance industry. About 20% of commercial drones belong to insurers that are facing new regulations to fly them, said Tom Karol, general counsel, federal, NAMIC.
First Cap Property Insurance Solutions is targeting homes forced into California’s insurer of last resort due to tight market conditions, said Kevin Kilkenny, CEO, First Cap.
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Legacy Systems May Be Holding Back Innovation in Some Insurance Sectors
Also, AM Best Audio explores why take-up rates may be falling in the earthquake insurance market in some areas.
Samantha Chow, life, annuities and health markets lead for EIS Group, discusses the need for rapid innovation on the part of insurers and how outdated legacy systems may be holding them back.
Missouri is the third largest earthquake market in the U.S., but insurance take-up rates are falling, said Jo LeDuc, director, Missouri Insurance Market Regulation.
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