[October 24, 2016] |
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A.M. BestTV: Insurers Respond to New Regulators, New Competitors
In this A.M.BestTV episode, insurers at the annual meeting of
the Property Casualty Insurers Association of America (PCI (News - Alert)) in Dallas,
TX, said the industry is being pressured by new forms of competition and
new layers of regulation. Click on http://www.ambest.com/v.asp?v=pci11016nc
to view the entire program.
Some 1,300 reinsurers, insurers and brokers are attending the
conference, where addressing uncertainty through innovation is a key
theme.
"The pace of disruption and technological change is only going to
increase, which is going to bring challenges, as well as opportunities,"
said David Sampson (News - Alert), president and chief executive officer, PCI. "We want
to help our member companies build nimble, agile and strategic
organizations, which can adapt in this era of uncertainty and change and
be able to execute their business plans."
Anthony Trivella, executive vice president, Hartford Steam Boiler
Association of America, highlighted the regulatory issues the
industry is facing.
"There are more regulatory bodies, not just state and federal, but
international," said Trivella. "So it is a competing influence between
an industry wanting to innovate and the costs around regulation and the
other things insurers have to do to run their businesses."
Other people that appear in this episode:
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Nathaniel Wienecke, senior vice president, Federal Government
Relations, PCI; and
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Joseph Monaghan, executive managing director, Aon Benfield.
A.M.BestTV will be covering the entire 2016 PCI convention.
Visit http://www.ambest.tv/pci16
for full coverage and exclusive interviews with key executives.
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conditions and a hardening in recent years of the overall workers'
compensation market. However, they may face challenges as pricing
softens in some areas: http://www.ambest.com/v.asp?v=statefunds11016.
Insurers Court Program Managers to 'Outselect the Market': At
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close ties to insureds and agents: http://www.ambest.com/v.asp?v=targetmarkets11016nc.
Drone Surge Opens Up a Wide Horizon of Risk Coverages: Paul
Bowles, an attorney with Fitzpatrick & Hunt, Pagano, Aubert, LLP.,
said drone operators should consider protecting themselves against a
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marine risks, commercial liability, errors and omissions, directors
and officers, privacy and more: http://www.ambest.com/v.asp?v=drones1016.
EAIC Conference: Asian Insurers Embrace the Analytics Revolution (News - Alert):
At the East Asian Insurance Conference (EAIC), attendees said insurers
and reinsurers are rapidly expanding the use of data technology for
underwriting, pricing, marketing and customer relations: http://www.ambest.com/v.asp?v=eaic31016nc.
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
subsidiaries. ALL RIGHTS RESERVED.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161024006025/en/
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