AM BestTV: Partial Federal Shutdown Hampers U.S. Insurers’ National Efforts

CONTACTS:

FOR IMMEDIATE RELEASE

OLDWICK - JANUARY 24, 2019 12:53 PM (EST)
In this episode of ^AM BestTV, attendees at the Insurance Information Institute’s Joint Industry Forum in New York City said the partial shutdown of the U.S. federal government is hampering progress on a host of issues, ranging from floods to tariffs. Click on http://www.ambest.com/v.asp?v=jointforum1119 to view the entire program.

Executives attending this forum expressed frustration with the shutdown.

“This shutdown is obviously very distracting. The federal government is stalemated on its most basic function, which is providing the funding for very basic government services,” said David Sampson, president and chief executive officer, American Property Casualty Insurance Association. “Nothing can move forward on any of these other important key public policy issues.”

Roy Wright, president and chief executive officer, Insurance Institute for Business & Home Safety, and a former chief executive of national flood at the Federal Emergency Management Agency (FEMA), said, “It makes you angry that the government has not been able to come to a solution to get people back in. There are so many services that the government provides that affect the housing industry and the like, but particularly in the flood and insurance spaces.”

Other people that appear in this episode:

• Sean Kevelighan, president and chief executive officer, Insurance Information Institute; and


• Frank Nutter, president, Reinsurance Association of America.

Recent episodes of ^AM BestTV include:

• Property/Casualty Insurers’ Outlook for 2019 Positive, But With a Chance of Upheaval: Attendees at the Insurance Information Institute’s Joint Industry Forum said the industry has demonstrated its ability to weather storms and other natural disasters, but will be buffeted by an increasingly contentious political climate and an advancing technology sector: http://www.ambest.com/v.asp?v=jointforum2119 .


• Insurance Industry Honors Marsh & McLennan Companies CEO: ‘A Passion for Running to Problems and Solving Them’: Insurance industry executives honor Daniel S. Glaser, president and chief executive officer of Marsh & McLennan Companies, Inc., as the School of Risk Management’s “2018 Insurance Leader of the Year”: http://www.ambest.com/v.asp?v=insuranceleader119 .


• AM Best Director Discusses Factors Behind Raised Estimate for Insurance Asbestos and Environmental Exposures: Brian O’Larte, director, AM Best, discusses the reasons behind the rating agency’s increased estimate to $146 billion of net ultimate losses for asbestos and environmental exposures: http://www.ambest.com/v.asp?v=aande119 .


• Standing Up to Risk: The Events and Issues That Built Today’s Insurance Industry: In an hour-long documentary, AM Best analysts and editors examine the catastrophes, social, regulatory and technological developments that reshaped an industry and set the trajectory for tomorrow’s insurance and risk management environment: http://www.ambest.com/v.asp?v=reviewpreview2018 .

^AM BestTV covers exclusive AM Best and insurance industry information and reports, targeted topics and key developments in the insurance, reinsurance and related sectors daily. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html . View ^AM BestTV episodes at http://www.ambest.tv .

AM Best is a global rating agency and information provider with a unique focus on the insurance industry.