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TMCNet:  A.M. BestTV: Soaring Skyscrapers Highlight Host of New Risks

[July 21, 2014]

A.M. BestTV: Soaring Skyscrapers Highlight Host of New Risks

OLDWICK, N.J. --(Business Wire)--

This episode of A.M.BestTV explores how insurers and risk managers face a host of new technology, underwriting and safety challenges as building construction around the world soars to new height records.

Hugh Burgess, president and CEO of Allianz Global Corporate & Specialty SE, Americas Region, and Manfred Schneider, Head of Engineering North America, Allianz Global Corporate & Specialty SE are both featured in this episode.

Burgess and Schneider address the issues that have arisen concerning new height construction. "The heighten degree of uncertainty is substantial," said Burgess. "Structural engineering concerns have increased tremendously," adds Schneider. Furthermore, both men spoke about the upsurge in financial costs, design and construction liabilities, flood coverage, greater workmen safety and fire risks, as well as the increase risk of terrorism attacks in certain areas of the world. So the question insurers are asking is: How high is up?

Click on to view this episode. www.ambest.com/v.asp?v=buildings714

Recent episodes of A.M.BestTV include:

  • TRIA Advances; Urban Tornadoes; Q1 Profits; Change Ahead at FM Global: The Terrorism Risk Insurance Act (TRIA) clears the Senate; Swiss Reinsurance Company Limited's Megan Linkin assesses the potential impact of a major tornado striking Chicago; a new report from A.M. Best summarizes first quarter profits in light of the severe winter weather and FM Global Group's President and CEO Shivan Subramaniam prepares to step aside: http://www.ambest.com/v.asp?v=news71814
  • The Institutes Reaches Out to New Insurance Education Markets: The Institutes, known for its Chartered Property Casualty Underwriters (CPCU) certification and other programs, is discovering a new outlet for its insurance-specific training: international technology, consulting and service companies: http://www.ambest.com/v.asp?v=institutes714
  • Insurers, Regulators Wary of Ride Sharing Services: As ride-sharing services such as Uber, Lyft and Sidecar spread into United States and world markets, insurers say that policies, underwriting considerations and limits designed for personal automobile coverage should not apply to those driving for profit: http://www.ambest.com/v.asp?v=ridesharing714
  • Global Regulators Update Capital Plan; Life Sales Sag: International insurance supervisors draw criticism after seeking an August deadline for comment on their updated capital requirements plan. Also, Kurt Karl chief economist of Swiss Reinsurance Company Limited details the state of world insurance growth: http://www.ambest.com/v.asp?v=news71114


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 www.ambest.tv.

A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2014 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.


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