In this episode of AM BestTV, attendees at the Insurance Information Institutes Joint Industry Forum in New York City said the industry has demonstrated its ability to weather storms and other natural disasters, but will be buffeted by an increasingly contentious political climate and an advancing technology sector. Click on http://www.ambest.com/v.asp?v=jointforum2119 to view the entire program.
Investors are optimistic about what 2019 holds for the industry, which is reflected in the theme of this years forum, Leading the Way Forward.
There is great support in capital, making it a very strong, financial industry, said Sandra Parrillo, president and chief executive officer, Providence Mutual. The industry has proven that it can weather any disaster, whether man-made or natural. Additionally, the opportunities to bring in new people are enormous.
David Sampson, president and chief executive officer, American Property Casualty Insurance Association, addressed the issues of innovation, technology and regulation.
Innovation and technology are continuing to have a growing transformation on the industry. Also, in terms of the broad regulatory outlook on the industry, the political polarization that already exists is only going to increase throughout 2019, he said.
Other people that appear in this episode:
- Sean Kevelighan, president and chief executive officer, Insurance Information Institute;
- Keith Wolfe, president, U.S. property/casualty, Swiss Re;
- Frank Nutter, president, Reinsurance Association of America; and
- John Huff, president and chief executive officer, Association of Bermuda Insurers and Reinsurers.
Recent episodes of AM BestTV include:
- Insurance Industry Honors Marsh & McLennan Companies CEO: ˜A Passion for Running to Problems and Solving Them: Insurance industry executives honor Daniel S. Glaser, president and chief executive officer of Marsh & McLennan Companies, Inc., as the School of Risk Managements 2018 Insurance Leader of the Year: http://www.ambest.com/v.asp?v=insuranceleader119.
- AM Best Director Discusses Factors Behind Raised Estimate for Insurance Asbestos and Environmental Exposures: Brian OLarte, director, AM Best, discusses the reasons behind the rating agencys increased estimate to $146 billion of net ultimate losses for asbestos and environmental exposures: http://www.ambest.com/v.asp?v=aande119.
- Standing Up to Risk: The Events and Issues That Built Today’s Insurance Industry: In an hour-long documentary, AM Best analysts and editors examine the catastrophes, social, regulatory and technological developments that reshaped an industry and set the trajectory for tomorrow’s insurance and risk management environment: http://www.ambest.com/v.asp?v=reviewpreview2018.
AM BestTV covers exclusive AM Best and insurance industry information and reports, targeted topics and key developments in the insurance, reinsurance and related sectors daily. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View AM BestTV episodes at http://www.ambest.tv.
AM Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.
Copyright 2019 by A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
Group Vice President, Publication and News
+1 908 439 2200, ext. 5561