A.M. BestTV: Managing General Agents Work With Lloyd’s on Wire Transfers, Audits, Multiyear Contracts

OLDWICK, N.J.--()--This A.M.BestTV episode highlights an interview with Bernd Heinze, executive director, American Association of Managing General Agents (AAMGA), concerning his recent visit to Lloyd’s of London (Lloyd’s). Click on http://www.ambest.com/v.asp?v=aamga216 to view the entire program.

With over 20% of AAMGA’s members coming from the London marketplace, Heinze believes it is very important that his members understand the issues Lloyd’s is looking at.

“I think we had some really good discussions,” said Heinze. “One of the issues we discussed was how to better improve the audit process. All of the capital providers, managing agents and syndicates audit the United States, North America, Australia and New Zealand cover holders. Our goal is to make sure the audit process is seamless, transparent and that the same quality of education and opportunities exist for the auditors as they exist for the cover holders that are being audited.”

Heinze said he was also impressed at how receptive John Nelson, Lloyd’s chairman, and Inga Beale, Lloyd’s chief executive officer, were to the opportunities and challenges that he suggested Lloyd’s was not addressing.

Recent episodes of A.M.BestTV include:

  • Insurers Brace for Impact of Concussion Claims: Insurers discuss concussion-related lawsuits against helmet manufacturers and sports-related organizations, which threaten to become a bigger liability issue for insurers and reinsurers: http://www.ambest.com/v.asp?v=concussion216.
  • Cyber Standards Chasing Fast Evolving Risk: Highlights from the recent Risk Management Solutions Cyber Risk Seminar, where insurance executives said they are adapting quickly to new electronic risk exposures, but coverages, standards and policies are struggling to stay abreast: http://www.ambest.com/v.asp?v=rmscyber216.
  • Directors and Officers Liability Insurance Innovation Chases Expanding Risks: At the annual meeting of the Professional Liability Underwriting Society Directors and Officers (D&O) Symposium, attendees said coverage for D&O has been racing to keep up with widening liability and soaring costs as regulators, lawmakers and lawyers create new risk exposures: http://www.ambest.com/v.asp?v=plus216.
  • Analyst Discusses A.M. Best Rating Considerations on Cyber Liability: Senior Financial Analyst Fred Eslami explains how the company continues to monitor and focus on insurers’ treatment of cyber liability exposures: http://www.ambest.com/v.asp?v=cyber216.

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 Company, Inc.
Lee McDonald, 908-439-2200, ext. 5561
Group Vice President, Publication and News Services
lee.mcdonald@ambest.com

Contacts

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