OLDWICK, N.J.--(BUSINESS WIRE)--In this episode of A.M. BestTV executives discuss how past pandemics would impact the insurance industry today, and why it remains a top concern for insurers among extreme risks. Alessandro Santoni, a director at Towers Watson, said a recent company survey of global insurance industry executives ranked global pandemic as the most important extreme risk to worry about in the long term. Three pandemics struck in the 20th century, in 1918, 1957 and 1968. The 1918 pandemic killed an estimated 50 million people worldwide. Life insurers say they’re prepared to handle pandemic risk through reinsurance, and Steven Weisbart, chief economist at the Insurance Information Institute, said insurers could also tap the capital markets. "The capital markets are highly mathematically oriented, they are used to modeling of this kind, so yes, this is very much the kind of thing that might result in several cat bond-type vehicles," Weisbart said. Click on http://www.ambest.com/v.asp?v=pandemic314 to view the program.
People who appear in this episode include:
- Alessandro Santoni, Director, Property/Casualty Practice, Towers Watson; and
- Steven Weisbart, Chief Economist, Senior Vice President, Insurance Information Institute.
Additionally, this episode takes a 60-second look at the week of March 17, including notable insurance industry-related conferences.
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:
- Winter Wave Proves Costly to Insurers: Swiss Re executives discuss the 2014 winter storms, which began with the polar vortex disruption, that have caused steep insured losses: http://www.ambest.com/v.asp?v=winter2314
- Reinsurers Identify Next Risks: Reinsurance companies and brokers gather in Philadelphia for the CPCU Society’s annual reinsurance symposium to discuss hot topics such as stubborn interest rates, smarter cars and regulation: http://www.ambest.com/v.asp?v=reinsurance2314
A.M. Best Company is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.
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