Since the COVID-19 pandemic struck more than a year ago, travel restrictions and remote work and schooling kept people close to home. With far fewer places to go, there were less people and cars on the roads, which had numerous implications for the insurance industry.
Regulatory-driven statistical reporting was first established for the insurance industry by the NAIC Property & Casualty Model Rating Law some 70 years ago. And the practices and procedures that underpin insurer statistical reporting have changed little in the decades since. Now, however, statistical reporting is being modernized with the development of the open Insurance Data Link (openIDL). Dina Burgess, Manager of Enterprise Risk Applications at AAIS, talks about the need for this change and the new ease, efficiency and accuracy that characterizes modern regulatory reporting.
During the height of the COVID pandemic, Berkley Re Solutions’ Jeff Cron joined AAIS for a an AAIS Pulse session looking at ‘Cyber Crime: The Online Home Invasion.’ "We’re all online more, seeing content, and clicking links to different articles, videos, and other forms of media. While the actual risk hasn’t changed, volume has magnified, with more scams and more screen time.”
The burgeoning cannabis market is creating pressure on the insurance industry to develop products that address risks emerging from increased legalization. AAIS Commercial Lines Product Manager Joe Jonas shared his insights on the market during the 2021 Business Insurance Cannabis Update. Mr. Jonas was joined by Charles Pyfrom, CMO at CannGen Insurance, and host Gerrit Nagarwalla, CPCU from Canopius, for a discussion on ‘Claims, Policy & Underwriting.’
The AAIS Pulse newsmagazine recently featured AAIS Chief Pricing Actuary Mike Payne and Somil Jain, VP & Consulting Actuary at Lewis & Ellis Actuaries and Consultants, spotlighting forces reshaping the role of pricing actuaries.
On a recent episode of AAIS Pulse, AAIS’s John Kadous hosted Kevin Mitchell, President of TypTap Insurance Company, and Aimee Bernadicou, Lead Broker at MJ Hall & Company, to discuss challenges to growth and the innovative ways companies are capitalizing on new opportunities.
The April 13 episode of AAIS Pulse featured a frank discussion on diversity, equity and inclusion in corporate American, the insurance industry, and society at large, as seen through the lens of leaders in insurance regulation.
AAIS’s El Cid Balitaan was joined by Chlora Lindley-Myers, Director of the Missouri Department of Commerce and VP of the Insurance and National Association Of Insurance Commissioners (NAIC), and Commissioner Andrew Mais of the Connecticut Insurance Department, who is Secretary Treasurer of the NAIC.
AAIS CEO Ed Kelly opened the April 13 edition of AAIS Pulse newsmagazine with an exciting announcement: AAIS has launched openIDL as a Linux Foundation project. The Linux Foundation is the preeminent nonprofit consortium supporting one-source technologies that drive innovation and transform industries.
In this edition from the AAIS Webinar Series, titled: The Value of Risk Control: Moving Beyond the Basics, Bryon Snethen, Vice President Risk Improvement at EMC Insurance and Jacob Pereira, a Solutions Engineer at Risk Control Technologies identified the purpose and value of risk control to a variety of stakeholders, including agents, insurance companies, policyholders, and society.
During the February 2021 AAIS Pulse newsmagazine, AAIS VP and General Counsel Robin Westcott was joined by Faegre Drinker Partner Patrick Hughes to examine the impact of the Biden Administration and recent legislative actions on the insurance industry.
