OLDWICK, N.J.--(BUSINESS WIRE)--In this episode of A.M. BestTV, reinsurers gather in Philadelphia for the CPCU Society’s annual reinsurance symposium to discuss the state of the market, and companies and brokers on hand pointed to stubborn interest rates, smarter cars and a fast-changing regulatory environment as hot topics. Peter Hearn, chairman of Willis Re, said interest rates are bound to rise at some point, but that companies would be fine if it’s managed well, adding that more concern exists around inflationary pressures due to its loss-reserves impact. Mick Ware, president and CEO at United Heritage Property & Casualty Co., and Keith Wolfe, a managing director at Swiss Re, spoke about growth areas, pointing to telematics, expansion and mergers and acquisitions. Hearn also suggested that the collapse or disruption of the Internet was a risk worth investigating. Frank Nutter, president of the Reinsurance Association of America, and Michael Consedine, commissioner of the Pennsylvania Insurance Department, discuss regulatory shifts. Nutter said he's paying close attention to how Solvency II might impact U.S. regulatory policy and the relationship between the states and the Federal Insurance Office. Consedine said the most recent FIO report highlighted many areas that he said the NAIC are already working on improving. Click on http://www.ambest.com/v.asp?v=reinsurance314 to view the program.
People who appear in this episode include:
- Peter Hearn, Chairman, Willis Re;
- Mick Ware, President and CEO, United Heritage Property & Casualty Company;
- Keith Wolfe, Managing Director, Swiss Re;
- Frank Nutter, President, Reinsurance Association of America; and
- Michael Consedine, Commissioner, Pennsylvania Insurance Department.
Additionally, this episode takes a 60-second look at key insurance-related reports and research that’s been recently released.
A.M. BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M. BestTV episodes at www.ambest.tv.
Recent episodes of A.M. BestTV include:
- Longer Lifespans May Bring Big Costs: Insurance industry executives discuss how longevity risk presents an opportunity to the industry – if it's able to handle all the risk, which some are calling “epic”: http://www.ambest.com/v.asp?v=longevity2314
- Lawyers Liability Market in Flux: David Bell, president and CEO of ALPS, which specializes in lawyers professional liability coverage, discusses the state of the market and how the company has navigated the economic downturn: http://www.ambest.com/v.asp?v=lawyers2314
A.M. Best Company is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.
Copyright © 2014 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.