A.M. BestTV: Insurance Legislation Picks Up; Business Travel Concerns

OLDWICK, N.J.--()--In this episode of A.M.BestTV, Kathy Donovan, senior compliance counsel of Wolters Kluwer Financial Services reports that the pace of U.S. state insurance-related legislation is running ahead of 2013. In addition, James Scott, accident product head at American International Group, Inc.’s Benefit Solutions discusses developments in business travel insurance.

Donovan said that what makes the 2014 numbers on state insurance-related bills more impressive is that it does not include any actions from Texas, which typically only enacts legislation in odd number years. Other notable activity, according to Donovan, includes legislation that increased consumer protection measures in the property/casualty arena, and more attention being given to unclaimed life insurance benefits.

In a separate interview, Scott discussed that for business travel insurance, the following concerns need to be emphasized to employers and risk managers: risk assessment, risk mitigation, training, communication and monitoring and tracking.

Also discussed is a recent Best's Briefing entitled, “The Insurance Implications of Malaysia Airlines Flight MH-17,” which states that the total insurance loss will comprise passenger liability claims and physical damage to the aircraft. The liability loss will be shared between the insurance and reinsurance markets.

Click here to view this episode. http://www.ambest.com/v.asp?v=news72514.

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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.

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.

Contacts

A.M. Best Company
Lee McDonald
Group Vice President, Publication and News Services
(908) 439-2200, ext. 5561
lee.mcdonald@ambest.com

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Contacts

A.M. Best Company
Lee McDonald
Group Vice President, Publication and News Services
(908) 439-2200, ext. 5561
lee.mcdonald@ambest.com