AM Best Webinars: Insurance Experts Discuss Balancing Indentity Management and Customer Experience: Professionals also explore ESG and its relationship to the ratings process and examine auto insurance market trends and their effects on carriers.
Annuities: Annuity Providers See Growth Opportunity in US Retirement Plan Changes: Retirement planning in the U.S. has focused for many on defined contribution plans and accumulation with little discussion of how to secure guaranteed income through annuities as part of workers' 401(k) accounts. With that about to change, the annuity industry sees a big opportunity on the horizon.
Annuities: Fixed Annuities Remain Biggest Seller Amid Push for Guaranteed Income: As a whole, the annuities industry sold $191.4 billion across segments during the period, marking a 19.1% increase from 2020, according to LIMRA data.
Annuities: Staid Annuities Get Star Treatment in Movie About the Importance of Guaranteed Retirement Income: The Baby Boomer Dilemma, a new documentary film by Doug Orchard, tells of the role of annuities in retirement portfolios to guard against haircuts to traditional pensions or Social Security, as well as potential volatility in defined contribution plans.
App Store: App Helps in Dealing With Repercussions of Losing a Loved One: Empathy now has an app available to New York Life Insurance Co. beneficiaries that helps families navigate the logistical and emotional journeys they typically face.
Best's Rankings: World's Largest Insurers 2022 Edition: China Insurers, US Health Writers Show Gains in AM Best's Ranking: Allianz ranked No. 1 based on 2020 net nonbanking assets while UnitedHealth Group ranked No. 1 based on 2020 net premiums written.
Book Store: Author: Elements of Workers' Comp Date Back to the Early Days of Piracy: In his book, Chris Boggs traces the history of workers' comp and details the modern system and its operations.
College Standouts: College Standouts: Survey Provides View of Top College Risk Management and Insurance Programs: Eastern Kentucky University, benefiting from its online program amid COVID-19 shutdowns, was the top vote-getter in the Best's Review biennial poll of top risk management and insurance programs. The programs were recognized for their academic rigor as well as soft-skills training.
College Standouts: Survey: Colleges Need to Better Prepare Future Insurers for Real World: Recruiters and hiring managers who participated in the 2022 Best's Review college survey discussed the importance of on-the-job training and developing experience in an insurance education.
Corporate Changes: Merger, State Action, Acquisitions and Name, Ownership and Domiciliary Changes: Centurion Life and Cedar Insurance are among the U.S. life/health and property/casualty insurers that have experienced a corporate change.
Executive Changes: Everest Re Group Extends CEO's Employment Agreement Through 2023: Also, Aon welcomes new chief innovation officer, Lloyd's appoints head of cyber and Aegon names chief risk officer.
From the Editor's Desk: Education in the Time of COVID: The February issue reports on the results of our survey about college risk management and insurance programs and provides a look at annuities and their role in retirement savings.
Guide to Understanding: Insurance: Financial Protection From Risks: Insurers protect people against loss and risk, both of which play a large part in everybody's lives.
Industry Updates: Munich Re: Hurricane Ida Topped Second-Largest Natural Catastrophe Loss Year in 2021: Climate research increasingly confirms that extreme weather has become more likely, the reinsurer said.
Industry Updates: Regulators Sharpen Scrutiny as COVID Spurs Interest in Accelerated Life Underwriting: A draft informational paper about the accelerated life underwriting process should be ready to present at the National Association of Insurance Commissioner's Spring National Meeting.
Managing General Agents: The Essential Characteristics of a Great Managing General Agent: Carriers must ensure that their MGA partners are well managed, reliable and financially strong. Perhaps most importantly, carriers must have confidence in the honesty and integrity of an MGA's owners and managers.
Preferred Publsher Program: In Other News ...: A roundup of news from publishers around the globe. Access to some sites may require registration or subscription.
Regulation: Insurance Restructuring Options Take a Giant Leap Forward: Allstate Insurance Co. filed the first division plans in Illinois, and their subsequent approval was a significant step forward for the insurance industry to expand the application of restructuring mechanisms.
Risk Adviser: Risk Management and Insurance Grads Hit the Ground Running: Classroom lessons, internships and support organizations help new insurance employees to be productive from the first day on the job.
Surety: AM Best: New Infrastructure Law Expected to Boost US Surety Market: The recently enacted $1.2 trillion Infrastructure Investment and Jobs Act is expected to generate large investments in the transportation and energy sectors and result in more business opportunities for surety companies.
Surety: Largest 30 Surety Insurers 2022 Edition: Insurers were ranked by 2020 gross premiums written.
The Last Word: Insurance Internships Can Help Fill Talent Gap, Industry Leader Says: The president of Risk Placement Services says his organization's commitment to internships is helping the company meet its recruiting needs and retain its talent.
Trending: Best's Research: Trending Research Includes First Looks at Nine-Month P/C and L/A Financial Results: Other trending research includes outlooks for U.S. commercial, personal and commercial property lines.
Web Traffic: Web Traffic: Visits to College Risk Management and Insurance Sites: University of Wisconsin - Madison leads web analytics provider Semrush's ranking of web traffic to the top colleges in Best's Review's survey of risk management and insurance programs.
What AM Best Says: AM Best: US Market Outlook Stable Despite COVID-19, Inflation, Catastrophe Pressures: For the property/casualty personal lines segment, there is continued robust risk-adjusted capitalization with sufficient liquidity, driven by the impact of COVID-19 on the economy and equity markets, AM Best says.
What Readers Say: Industry Professionals Share Thoughts on Top RMI Programs: Best's Review received nearly 50 letters from readers and other industry professionals who spoke about the outstanding work being done by risk management and insurance schools, programs and department chairs.
Workers Compensation: US Supreme Court Asked to Rule Whether Workers' Comp Covers Medical Marijuana: A Minnesota woman claims years of opioid prescriptions and surgeries failed to help her, and she began paying for medical marijuana out of pocket. Eventually, she sought and won her claim for coverage under the state workers' compensation code