AM Best TV & Audio
LIMRA: Fraud, Financial Crimes on the Rise in Life Insurance, Annuity, Retirement Sectors
Also, industry professionals discuss ESG and natural catastrophe recovery, global resilience and wildfire risk.
- September 2022
LIMRA and Verisk are partnering to help insurers combat fraud and financial crimes in life insurance, annuity and retirement, said David Levenson, president and CEO, LIMRA, LOMA and LL Global, and Maroun Mourad, president, global claims, Verisk.
Insurers, MGUs and MGAs must stay focused on catastrophe-stricken communities, especially prone areas, after public attention has turned its focus to the next natural disaster, said Tammy Nelson, chief marketing officer, SageSure Insurance Managers.
Improvements in cyberrisk quality is one of the drivers moving Thailand and Vietnam higher up in the rankings of the 2022 FM Global Resilience Index, said Pentti Tofte, staff senior vice president, head of analytics, FM Global.
Insurance executives, risk modelers and analysts examine the growing peril of wildfire, and what must be done to combat one of the hottest risks facing the industry.
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Catastrophe Models Must Catch Up to Science, According to Karen Clark Founder
Also, AM Best audio explores crypto liability and quantum computing cybersecurity threats, deemed emerging risks by Swiss Re.
Expected annual aggregate hurricane loss today is about $22 billion, said Karen Clark, founder, Karen Clark & Co. She said an individual event with a loss equal to the aggregate amount can be expected every five years.
Insurers shoulder some of the risks individuals and businesses face, and by doing so can contribute to making the world more resilient while also fostering innovation, said Swiss Re Risk Manager Maren Bodenschatz.
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