Best’s Review Examines How COVID-19 Is Reshaping the Insurance Industry

OLDWICK, N.J.--(BUSINESS WIRE)--The June issue of Best’s Review looks at how insurers are responding to COVID-19 and other catastrophes. The global pandemic is on track to be the costliest event in insurance history.

• “The COVID Catastrophe” compares the pandemic to other catastrophes. The article addresses industry stress tests run by AM Best and looks at steps insurers took years ago that helped them prepare for this event, as well as how the industry may change going forward.
• “[Still] Open for Business” looks at some of the challenges facing agents and brokers who sell life, property/casualty, health, employee benefit plans and retirement products. Many are small businesses that normally would meet with customers face-to-face, and many have encountered government-mandated closings and restrictions as the country moved into lockdown mode.
• In “Serving His Country,” Best’s Review spoke with John E. King, Georgia’s top insurance regulator and a major general in the National Guard. King was on the front lines in the pandemic earlier this year, helping to build makeshift medical facilities and increase hospital capacity for patients in New Jersey.

Also in the June issue:

• “Weather Alert” reports on the insurance, regulatory and building code changes that California, Florida and Texas have made in response to recent natural catastrophes, including wildfires, floods and hurricanes.
• “On the Way Out” examines the phasing out of the London Interbank Offered Rate and some of the alternatives available to insurers.

Full access to the complete content of Best’s Review is available at www.bestreview.com.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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