A.M. BestTV: Insurers on Climate: It is Not an Easy Risk to Deal With

OLDWICK, N.J.--()--This A.M.BestTV episode spotlights the 2016 Investor Summit on Climate Risk held in New York, NY, where insurance representatives said the industry needs to develop more products aimed at supporting energy that is efficient, resilient and renewable. Click on http://www.ambest.com/v.asp?v=unclimaterisk116 to view the entire program.

The 2016 conference’s goal is to explore the significant investment opportunities provided by the global climate deal involving 196 countries, and the insurance industry is intent on wrestling with those opportunities as well.

“On the product side, in terms of underwriting some of the more energy efficient vehicles such as solar panels on homes that need to be insured, or energy warranty insurance, there are a range of product opportunities,” said Cynthia McHale, director, Ceres. “This also provides an opportunity to help people understand what climate change means and how they need to invest in their own greater resilience,” continued McHale.

“The industry needs to take a long-term view; we need to be here for our customers,” said Manuel Lewen, head of responsible investment, Zurich Insurance Company. “We can’t afford to focus on just short-term market drivers, we need to be on top of things, like climate change and how that will impact the risk on our investment portfolios.”

Other people that appear in this episode:

  • Shaun Tarbuck, chief executive, International Cooperative & Mutual Insurance Federation; and
  • Ric Abel, managing director, Prudential Capital Group.

Full-length interviews are available as well. Go to http://www.ambest.tv/ to access them.

Recent episodes of A.M.BestTV include:

  • California Insurance Commissioner Says Investments in Thermal Coal Don’t Make Sense: At the 2016 Investor Summit on Climate Risk in New York, NY, Dave Jones, insurance commissioner, California, called on insurers in his state to divest from thermal coal and report on their investments in carbon-based energy: http://www.ambest.com/v.asp?v=jones116.
  • Insurers Step Up Their Fraud Defenses: Insurers are turning to predictive analytics to head off and identify frauds, but fraudsters still manage to target homeowners, medical and automobile coverages: http://www.ambest.com/v.asp?v=fraud116.
  • Fairfax’s Prem Watsa Named Leader of the Year; Program Breaks Record: At the annual St. John’s University Insurance Leader of The Year Awards Dinner in New York, NY, Prem Watsa, chairman and chief executive officer, Fairfax Financial Holdings, was named Leader of The Year: http://www.ambest.com/v.asp?v=insuranceleader116.
  • Easier, Faster and Cheaper: Insurers Refocus on Small Businesses Coverage: Commercial insurers are aggressively courting small businesses, but are torn concerning platforms and selling strategies: http://www.ambest.com/v.asp?v=smallbusiness116.

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 http://www.ambest.tv.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2016 by A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

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

Contacts

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