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TMCNet:  A.M.BestTV: Air Disasters, Fires, Outbreaks Raise Global Risks

[August 08, 2014]

A.M.BestTV: Air Disasters, Fires, Outbreaks Raise Global Risks

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

This episode of A.M.BestTV examines how air disasters in Ukraine, Mali and Taiwan, and the Ebola outbreak in western Africa, are dominating risk concerns. Natural disasters include two major earthquakes in Central America and China, and raging wildfires in the western United States, which continue to take their toll. Meanwhile, the Federal Insurance Office (FIO) appoints 21 members from across all sectors of the insurance industry to the Federal Advisory Committee on Insurance (FACI), and new research from A.M. Best indicates specialty energy insurers continue to produce positive operating results.

In A.M. Best's Global Risk Roundup, Meg Green of A.M.BestTV commented that there were three airline disasters in July, with Malaysia Airlines Flight MH-17 being the worst. Green stated, "The Malaysia Airlines Flight MH-17 total insurance loss will be comprised of passenger liability and physical damage (hull coverage) to the aircraft." However, 2014 is not the worst year for airline fatalities. Looking over the last seven months it is one of the lowest, so far, according to Green, who cited statistics from the Flight Safety Foundation.

Concerning the appointment of the 21 members to the FACI board, FIO Director Michael McRaith said, "The committee members are recognized leaders and represent much of the vast diversity within the U.S. insurance sector. We are excited to receive the benefit of their expertise and perspective on the many important issues in which Treasury's Federal Insurance Office is involved."

Click here to view this episode: http://www3.ambest.com/ambv/displaycontent/video.aspx?vid=nws8814.


Recent episodes of A.M.BestTV include:

  • Rise of the Super (Risk) Models: How a growing appetite for risk modeling is driving new models, modeling firms and more inclusive risk platforms, as reported by Kate Smith of Best's Review magazine. Also interviewed are Claire Souch of Risk Management Solutions and Jayanta Guin of AIR Worldwide. Read Smith's entire article, "The Rise of the Super Models" in the August edition of Best's Review: http://www.ambest.com/v.asp?v=model814.
  • First Monday: Leading Analysts , Key Topics: Looks at rising investment allocations to Schedule BA assets among U.S. property/casualty and life/annuity companies; the U.S. captive composite's continued outperformance over its commercial peers and the potential impact of Mexico's approaching risk-based solvency regime: http://www.ambest.com/v.asp?v=firstmonday814.
  • Interview: What's Behind the Catastrophe Bond Craze: Florida's Citizens Property Insurance Corp. (Citizens) launched a $1.5 billion catastrophe reinsurance bond, the largest in the industry. Meg Green interviews Jennifer Montero, chief financial officer of Citizens and examines how the unusual coverage works. Additionally, Best's Review's Angelo Lewis interviews A.M. Best's Managing Senior Financial Analyst of Insurance Linked-Securities, Asha Attoh-Okine, on catastrophe bond activity for the first half of 2014 and how the deluge of private capital is transforming the reinsurance industry: http://www.ambest.com/v.asp?v=catbonds814.

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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