Insurance news, interviews, rating announcements and more.

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2024/4/24/16/d85dacd0-884a-418b-b71d-f7a3016c41b4_202405_fairness_mixdown.mp3

Theresa Young, CSAA Insurance Group; Michael Angelina, St. Joseph&#39;s College; and Steve Clarke, Verisk, said issues also arise from lack of regulation of third-party vendors, public adjusters, and service providers, which can lead to higher claim payouts than were anticipated in pricing.

Insurance Regulators Sharpen Focus on AI, Machine Learning to Ensure Fairness

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2024/4/24/15/98bb4b44-6399-42ab-b5f6-a98983619516_202405_bardos_mixdown.mp3

In his book, Agent to Agent: Revealing the Story and Strategy for Insurance People, BI&amp;I Group Vice President and Chief Operating Officer Leo Bados Jr. shares tips for building an insurance business and leading a team with confidence.

Author: Perseverance, Dedication, Leap of Faith Keys to Launching a Successful Insurance Business

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2024/4/24/15/7629129b-ffe2-46f9-9c8f-5d61f159fbac_202405_nunziata_mixdown.mp3

Tim Nunziata, vice president and head of cyber risk, Commercial E&amp;O at Nationwide said that when it comes to a cyber incident, the idea of being able to put a plan in place post‑breach is not realistic.

Into the Breach:  Plan Ahead for Cyberrisks

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2024/4/24/15/181da1b2-b7e5-4426-856b-2273e1599e78_202404_sridhar_mixdown.mp3

Sridhar Manyem, senior director, AM Best, said other key issues with data from wearables include using it ethically and compliantly. Manyem spoke with AM Best TV at Insurtech Hartford Symposium 2024.

AM Best's Manyem: Insurers Navigate Data Privacy, Regulation With Wearables

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2024/4/24/15/cc84e335-7c0e-4b7b-bb80-fe99dd38e399_202404_rising_market_volatility_mixdown.mp3

Jay Guin, Verisk; Tim Aman, Aon; and Ole Hanekop, Hannover Re, reviewed the importance of accurate valuations and innovative solutions to address latent risks and the correlation between different lines of business. Panelists spoke with AM Best TV at the Verisk Insurance Conference 2024, held in Orlando, Florida.

Panel: Interest Rates, Inflation Create Challenging Conditions for Insurers

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2024/4/19/15/408f2a9e-d941-440a-a290-4b5b4835a690_202404_tanner_hackett_mixdown.mp3

Tanner Hackett, CEO, Counterpart, said new machine learning and similar systems help insurers synthesize huge data sets for better underwriting, marketing and more. Hackett spoke with AM Best TV at the InsurTech Spring Conference in New York City.

Counterpart's Hackett: ChatGPT, AI Leverage Repetition to Analyze Risk

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2024/4/19/14/35f4766f-36e3-426c-867c-f7e9261d467c_202404_stephen_crewsdon_mixdown.mp3

Stephen Crewdson Sr., director, insurance business intelligence, J.D. Power, details a report with TransUnion that shows after months of decreasing auto insurance shopping, consumers are now returning to looking for better deals from carriers.

Industry Report Shows Auto Insurance Shopping Is Escalating

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2024/4/19/15/130217f7-03ee-4765-9b78-2fa79bb5e558_202404_wildfire_mixdown.mp3

Insurance risk experts who spoke with AM Best TV at the Verisk Insurance Conference in Orlando, Florida, said governments are at the early stages of grappling with this issue, which intersects with science, business, public policy and land use.

Panel: Reducing Wildfire Risk Requires a Multilayered Approach

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2024/4/12/17/7cac8af8-37ff-4ab8-a6a8-e686b7a93c10_2024_allianz_report_mixdown.mp3

Srdjan Todorovic, head of political violence and hostile environment solutions at Allianz Commercial, details the findings of a new risk report that shows terrorism, civil unrest and environmental activism as intensifying risks in a volatile geopolitical environment.

Allianz Report: 2024 Could Be Unprecedented Year for Political Violence

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2024/4/19/14/e37745bf-2da2-49ea-b50e-2d2e3dd89eb2_202404_tredinnick_mixdown.mp3

Public entities such as municipal governments are increasingly the targets of cyberthreats, said Munich Re Specialty’s Lauren Tredinnick, president, public entity solutions, and AVP Maria Long, cyber underwriter &amp; risk management portfolio leader.

Munich Re: Need, Risk for Cyber Coverage Rising for Public Entities

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2024/4/12/15/03815274-f9eb-4869-8ea9-a26a4574784a_202404_pande_mixdown.mp3

Swiss Re’s Chief Property Underwriter Mohit Pande said strikes, riots and similar events are growing in frequency and severity as rising concentrations of populations in major cities create a higher density of valued assets within a heightened risk landscape.

Swiss Re’s Pande: Civil Commotion Climbed 3,000% From 2000 to 2020

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2024/4/2/13/c45ff209-ee05-46f3-add8-cc845b0c87c6_202404_panel_discussion_mixdown.mp3

Betsy Myatt, vice president &amp; chief program officer of the Insurance Industry Charitable Foundation and executive director of the IICF’s Northeast Division, Wendy Houser, chief wholesale officer at Markel and Jodie Kaufman Davis, executive vice president, H.W. Kaufman Group, discuss progress in getting women into the C Suite and what must continue to make the insurance workspace a fully diverse and inclusive environment.

Women Insurance Executives on Workplace Diversity

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2024/4/12/15/046e1371-601f-4019-87ef-d716737b567f_202404_-_graham_mixdown.mp3

Chris Graham, senior industry analyst, Credit Rating Criteria Research &amp; Analytics, AM Best, said cyber may surpass D&amp;O in premium volume due to its rapid growth and changing market demands. Graham spoke with AM Best TV at the 2024 PLUS Cyber Symposium in New York City.

AM Best's Graham: Cyber Insurance Could Outpace D&O in Premium Volume

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2024/3/27/13/bd555038-ab53-4e25-9bc7-f9d9eaf5a344_202403_jd_power_mark_garrett_mixdown.mp3

Mark Garrett, director of claims intelligence for J.D. Power, discusses the company’s 2024 Property Claims Satisfaction Study, which finds the industry is at a seven-year low for customer claims satisfaction.

JD Power Survey Examines Property Claims Satisfaction

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2024/4/12/15/4b950b4d-8aee-4cbd-bb51-24db8ff6355b_amb_audio_template_mixdown.mp3

Maura Freiwald, head of casualty for Munich Re US, and Jim Whittle, vice president and counsel to the American Property Casualty Insurance Association, explain how legal-system abuse and litigation funding are leading to nuclear verdicts against insurers and what the industry is doing to combat the practice.

Insurance Industry Looks to Quell Legal Abuse

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2024/3/13/16/dffc6f74-883d-4dbd-bcbd-e260cb48b1a4_0324_xceedance_ina_mixdown.mp3

Arun Balakrishnan, Chairman and CEO of Xceedance said just because you have data, it doesn&#39;t mean it is useful.

Navigating the Challenges of AI

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2024/4/2/13/701055c9-80fb-4cd4-8966-7fd7c7be097e_202404_david_straughn_mixdown.mp3

David Straughan, an automotive writer and researcher breaks down the companies considered to be the best auto insurers based on a number of criteria including AM Best ratings.

MarketWatch Report Names Best Auto Insurers

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2024/4/5/14/2e001df8-4608-40a0-bc72-f8384703f85f_202404_blades_mixdown.mp3

David Blades, associate director, credit rating criteria research &amp; analytics, AM Best, said fewer IPOs and securities class action suits are reducing demand in the D&amp;O insurance market. Blades spoke with AM Best TV at the 2024 PLUS D&amp;O Symposium in New York City.

AM Best's Blades: Pricing Competition, Lower Demand Lead to Decreased Industry Premium

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2024/3/18/17/d95654dd-2043-4e57-82ba-bbe68ed49e00_202404_amwins_bernacki_mixdown.mp3

Mark Bernacki, chief underwriting officer, Amwins discusses the significants of an election year for insurers saying that there continues to be plenty of private capital in the P&amp;C sector thus eliminating the need for government involvement at this time.

Amwins' Bernacki:  No Immediate Need for Government in Insurance

https://s3.us-east-2.amazonaws.com/pod-public-media-files/2024/2/2/17/97dfb51e-718f-43f1-b36f-3211d7825b8d_sues_and_answers_april_with_bob_morgan_mixdown.mp3

Insurance policies are meant to provide peace of mind, but they can be a source of frustration for both the insured and the insurer if they are built on inaccurate information. This is particularly true for property coverage and the relationship between the value of the covered property and the coverage provided. As important as this aspect of property insurance is—a concept known as insurance-to-value (ITV)—there is an epidemic of inaccurate information when it comes to property values throughout the insurance industry.

Perils of Inaccurate ITV

AM BestAudio Podcast

Insurance news, interviews, rating announcements and more.