October 28th, 2016

Week’s Top Stories: October 22 - 28, 2016

Posted at 6:30 AM ET

A.M. Best’s More Transparent Ratings Criteria Provide Benefits to Insurers That Proactively “Own Their Ratings”: Maintaining or improving ratings is a priority for most insurers. This can be challenging amid increasing demands for companies to “own their risk” (Own Risk and Solvency Assessment “ORSA”) in an environment of evolving rating agency requirements, including A.M. Best’s proposed ratings methodology and Stochastic-based Best’s Capital Adequacy Ratio (BCAR) criteria.

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Emerging Practices in Risk Tolerances: Insurers have long embraced the concept of risk tolerances. In some cases, the risk tolerances were expressly stated in a company’s enterprise risk management (ERM) policy document or in other cases exhibited in the course of normal operations.

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Disruptive Forces Redefining the Role of Insurance: Fundamental disruptive forces are driving monumental changes in the global economy at an unprecedented rate. These forces compel the (re)insurance industry to adjust to the new reality and capitalize on the opportunities created.

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Solvency II: An Era of Greater Risk-Driven Management: On January 1, 2016, the Solvency II regulatory regime took effect. Some celebrated; others were weary from the months and years of preparation

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US Property/Casualty Insurers Facing Increasingly Complex Operating Environment: Guy Carpenter Report: Guy Carpenter & Company released a study which found that, in a challenging operating environment, only 40 of the top 100 US property/casualty insurers reported an underwriting profit over the last five accident years.

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And, You May Have Missed…

Baden-Baden Reinsurance Symposium Explores Ways of Bridging Protection Gap: Guy Carpenter & Company hosted the Reinsurance Symposium in Baden-Baden on October 23. The eighth year that the firm has hosted the event, the theme this year was “Bridging the Gap - Is the industry doing enough to attract risk from the public to the private sector?”

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