A.M. BestTV: Insurers Face a Host of Risks, Led by the 'Risk of Inertia'

OLDWICK, N.J.--()--In this A.M.BestTV episode, attendees to the Philly I-Day 2017 conference in Philadelphia, PA, cited technology changes, along with cyber, climate and health risks as issues the insurance industry needs to address. Click on http://www.ambest.com/v.asp?v=phillyiday317 to view the entire program.

The panelists added that remaining a risk spectator and not addressing burgeoning issues poses the greatest risk to insurers.

“Economic nationalism, climate change, pandemic risks and biological defense are at the top of my list of risks, and these are getting very little treatment,” said Dante Disparte, chief executive officer, Risk Cooperative. “Although cyber risk is always in the news, the most important issue, in my opinion, is that the industry needs to get off the side lines on the societal industry and policy-making levels.”

Madeline Serpico, managing director, Aon, said other issues dominating conversations are attracting top talent, reputational risk, keeping businesses viable and rising health care costs.

Other people that appear in this episode:

  • Michael Angelina, executive director, St. Joseph's University Academy of Risk Management and Insurance;
  • Paul Horgan, chief executive officer, Zurich’s Global Corporate in North America; and
  • Nancy Wilson, director, quality assurance, risk management and safety, Wawa.

Recent episodes of A.M.BestTV include:

  • As Data Gets Bigger, So Does Its Impact: Insurers at the RMS Exceedance 2017 conference in New Orleans, LA, said insurers' abilities to capture increasing amounts of data are leading to new ways to identify risk and focus on products: http://www.ambest.com/v.asp?v=exceedance317.
  • Italian Insurers Challenged by Political Uncertainty and Banking Woes, Says A.M. Best Analyst: Alvise Argenton, financial analyst, A.M. Best, reviews a recent briefing that examines the operating environment for Italy’s insurers, which includes volatile political and economic environments, insurers’ relationships with banks as distribution arms and investment strategies: http://www.ambest.com/v.asp?v=italy317.
  • National Insurers in United Arab Emirates Return to Profitability, Face Challenges, Said A.M. Best Associate Financial Analyst: Associate Financial Analyst Thomas Bateman reviews a new report from A.M. Best that examines financial performance for 29 listed national insurers in the United Arab Emirates: http://www.ambest.com/v.asp?v=uae317.
  • Reinsurers Face Range of Issues, Including All-Hazards Events: Attendees at the annual reinsurance CPCU Society Reinsurance Symposium at St. Joseph's University, in Philadelphia, PA, said reinsurers face pressures, including a widening range of competitors and market forces in 2017: http://www.ambest.com/v.asp?v=cpcure317.

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 © 2017 by A.M. Best Company, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.

Contacts

A.M. Best
Lee McDonald, +1 908 439 2200, ext. 5561
Group Vice President, Publication and News Services
lee.mcdonald@ambest.com

Contacts

A.M. Best
Lee McDonald, +1 908 439 2200, ext. 5561
Group Vice President, Publication and News Services
lee.mcdonald@ambest.com