Insurers have so far been at the centre of business interruption (BI) disputes with clients over pandemic exclusions.
In London, all eyes are the FCA’s test case of 17 identified policy wordings to determine a precedent on whether carriers are on the hook to pay out....
While reinsurers have been able to achieve significant, long-needed price increases in property, in Q1 they were hardly enough to stem the tide of multimillion-dollar losses wrought by claims due to COVID-19 that drove the sector’s combined ratio up by nearly nine points....
While lockdowns ashore may be easing, COVID-19 is still affecting seafarers in a variety of ways – with some leading experts now highlighting the pandemic’s mental impact on those vital to keeping open the world’s trade routes....
Pandemic in focus
COVID-19 Round tables
Reactions Round tables in association with AdvantageGo
Watch our four-part series from U.S. insurance leaders as they examine the “reset world,” post-social distancing, and explore how insurance businesses will operate going forward. Each video is between 6-10 minutes long.
- What the “reset world” might look like as insurers continue to operate digitally, with one eye on returning to personal interactions
- What types of tools & protocols have helped to accelerate processes in the remote-working environment, and which ones will be adopted further
- How carriers can maintain an underwriting-first approach to drive underwriting profitability, in such a challenging market
- How to better manage existing and emerging exposures in the pandemic age.
Reactions is proud to present a new podcast in which our editorial team speaks with leading re/insurance figures about the many ways in which COVID-19 will impact the industry.
Paul Schultz, Aon Securities
In this edition, Paul Schultz, Aon Securities CEO, discusses the level of third-party capital we can expect to see at mid-year renewals following the COVID-19 outbreak....Listen here
David Sampson, APCIA
In this podcast David Sampson, President and CEO of the APCIA, talks with Reactions' Editor-in-Chief Shawn Moynihan about how BI exclusions are communicated....Listen here
Stephen Postlewhite, QBE Re
In this podcast Stephen Postlewhite, new managing director of QBE Re, talks with Reactions' London editor Mark Richardson about how the coronavirus has most impacted the re/insurance market....Listen here
Stefan Holzberger, AM Best
In this podcast Stefan Holzberger, chief rating officer of AM Best, talks with Reactions' associate editor Marc Jones about how the coronavirus could impact the insurance market....Listen here
David Flandro, Hyperion X
In our first edition, Hyperion X managing director of analytics David Flandro talks with Reactions' London editor Mark Richardson about business interruption losses as a result of the pandemic....Listen here
Re/insurance industry executives will weigh in on the COVID-19 pandemic and the challenges/opportunities it presents for their business.
Reactions asked: In your view, what do you consider some of the challenges and opportunities to having your personnel producing from home in the current environment?
Dave Ruedger, Chief Information Security Officer at RMS:
RMS has a global workforce of 1,300 employees with offices in 16 countries. Both our geographical coverage and the nature of our business has led to our employees often working remotely, making it a smooth transition for RMS employees to work from home in this environment. We have a COVID-19 Global Risk Management Team with cross-functional members around the world available to support our employees. Prior to the COVID-19 outbreak, we also ran Pandemic Business Continuity stress tests at all the RMS sites.
Due to our comprehensive Business Continuity Program and our ability to rapidily transition our workforce to a remote work environment, we remain on track to deliver our model, data, and Risk Intelligence product roadmap as planned. We have also shifted the format of our annual Exceedance conference to a virtual experience so that we can provide best-in-class insights to the market in a format that makes sense for the current environment. While we would prefer to engage with our colleagues, clients, and partners face-to-face, we are making the best out of this situation and our employees continue to collaborate and remain productive with zero commute and more flexibile schedules.
Two years ago, we became a cloud-first company, making this transition while complying with all GDPR, CCPA, SOC2, C5, ISO 27001:2013, and other essential regional security and data privacy requirements. And like many technology companies, our risk modeling solutions are available for our re/insurance clients online and through the cloud. Our product offerings will continue as before to support our clients and the market during the COVID-19 pandemic.
Guidance and data from re/insurance industry players and organisations will be shared here with our readers.
In this month's final issue of Reactions: