A.M. BestTV at RIMS: Insurers See Widening Array of Emerging Risks

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FOR IMMEDIATE RELEASE

OLDWICK - APRIL 11, 2016 12:08 PM (EDT)
In this ^A.M.BestTV episode from The Risk Management Society’s (RIMS) annual meeting in San Diego, CA, insurance leaders said evolving forms of cyber risk, developments in workers’ compensation, energy risks, market disruptions and a host of man-made risks are growing perils. Click on http://www.ambest.com/v.asp?v=rims1416nc to view the entire program.

More than 10,000 risk managers, brokers and underwriters are attending the annual RIMS conference, and this year, cyber liability risk is the hot topic.

“Cyber is the big emerging risk,” said John Haley, chief executive officer, Willis Tower Watson. “However, there is a lot of work being done to develop products that really provide good insurance solutions. Additionally, there are new things from the sharing economy to the internet … with general, technological and social media advantages, creating new risks.”

Inga Beale, chief executive officer, Lloyd’s, sees man-made risks as an increasing threat.

“What Lloyd’s sees is a prevalence of man-made risks, rather than the traditional, natural catastrophes that the industry used to fear and over the years, spent millions, maybe billions, trying to understand. Today man-made risks are much more in the focus.”

Other people who appear in this episode include:

• Lex Baugh, global head financial lines and liability, American International Group, Inc.;


• Lori Golterman, chief executive officer, Aon Risk Solutions U.S. Retail;


• Rich Ives, vice president, claims, Travelers;


• Julie Pemberton, president, RIMS; and


• John Kuhn, chief executive officer, global insurance, Endurance Specialty Holdings Ltd.

Full-length interviews are available as well. Go to http://www.ambest.tv/rims16 to see all the interviews.

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^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 is the world’s oldest and most authoritative insurance rating and information source.