Best’s News & Research Service - October 01, 2014 02:43 PM (EDT)
A.M.BestTV: North American Managing General Agents in the Spotlight at Lloyd's
- October 01, 2014 02:43 PM (EDT)
Oldwick //BestWire// - This A.M.BestTV episode wraps up highlights of the American Association of Managing General Agents, A.M. Best and Lloyd's Conference that took place in London on Sept. 25, 2014. The theme of the conference was the North American specialty market and its role at the world's oldest insurance market.
Matthew Mosher, senior vice president of global ratings at A.M. Best, addressed how critical the surplus lines market is to the U.S. economy. "It provides coverage and has the ability to identify the areas deprived of coverage and provide for them as well," said Mosher. However, he added that the challenge to the industry is to maintain underwriting discipline in a soft market: "A lot of the flow of business and the pricing pressures that come into the excess and surplus market are due to the willingness of the standard lines to push into that territory in a soft market."
Stefan Holzberger, managing director for analytics at A.M. Best, spoke about the advantages of technology. "The highest rated and/or most dynamic organizations that are successful and compare favorable to their peers from a performance standpoint have embraced technology," he said. "This allows these companies to detect early any emergence of losses not seen before and correct them immediately."
Other people who appear in this episode include:
- Bernd Heinze, executive director, American Association of Managing Agents;
- Tom Bolt, director, performance management at Lloyd's; and;
- Mark Woodall, president and chief executive officer at Special Risk Managers.
Click here to view the entire video program: http://www.ambest.com/v.asp?v=lloyds1014.
Recent episodes of A.M.BestTV include:
- Rendez-Vous de Septembre: From September 13-18 A.M. Best attended the Monte Carlo Rendez-Vous de Septembre. To see entire interviews conducted throughout the conference visit: http://www.ambest.tv/montecarlo.
- Life Insurance Industry in the 'Research and Development Phase,' Say A.M. Best Analysts: Life Insurance Awareness Month ended with a look at the opportunities and threats facing the industry as outlined by A.M. Best Assistant Vice Presidents Thomas Rosendale and Rosemarie Mirabella: http://www.ambest.com/v.asp?v=liam914.
- U.S. Regulators Closer to Unified International Response: U.S. regulators at the National Association of Mutual Insurance Companies (NAMIC) conference said they are moving toward a coordinated position as they deal with international insurance regulators: http://www.ambest.com/v.asp?v=namic914.
- AXA's Senior Executive Director Nick Lane: Life Insurers Must Adapt to Changing Families: Nick Lane, senior executive director and head of U.S. life and retirement at AXA spoke about how life insurers need to adapt their products to the needs of the modern American family in order to provide better protection for them: http://www.ambest.com/v.asp?v=lane914.
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 Company is the world's oldest and most authoritative insurance rating and information source.