Diversity, equity, and inclusion (DEI) continue to be a concern in our society, and the issues it presents extend beyond the communities where we live to the places and industries where we work. In 2021, AAIS Director of Government Relations Lori Dreaver Munn presented at the Association of Insurance Compliance Professionals (AICP) Annual Conference on a more nuanced concern – improving DEI in insurance products.

The AAIS Pulse newsmagazine recently featured a discussion with experts from Munich Re, Berkley Re Solutions, and AAIS hosted by AAIS Vice President of Products John Kadous on the emerging risks affecting policyholders in the homeowners market. The focus was on the evolving threats around cyber, fire and flood and how they’re being impacted by climate change, technology and more.

Risk Management Service Inc. (RMS) estimates $25 billion to $35 billion in onshore and offshore insured losses in the Gulf of Mexico alone were caused by Hurricane Ida. This doesn’t include the damage to other parts of the country. While the fundamentals of hurricanes are widely understood these days, there remain several important nuances to hurricane losses that are essential to understand for insurers, regulators, and the general public alike. Here we will look at one less understood type of claim from hurricanes – slab claims.

In this edition of CEO Angles, AAIS President and CEO Ed Kelly speaks with Keith Wolfe, President of US Property & Casualty at Swiss Re and an AAIS board member, about lessons learned during the pandemic, the increasing value of data, the need to start looking at climate change, the troubling cyber risk trend, and the hot topic of social inflation.

Flood insurance has long been primarily administered by the National Flood Insurance Program (NFIP), which has 5.1 million policies in force. But the landscape for flood insurance – and who needs it – is changing. This was the topic of an AM Best webinar that included Linda Jancik, AAIS Personal Lines Product Manager, Serena Garrahan, Vice President, Inland Flood Product Manager at Munich Re US, and Rob Olson, Senior Research Analyst at International Risk Management Institute (IRMI).

While the U.S. economy slowly returns to normal following the COVID-19 pandemic, the insurance industry continues to grapple with business interruption claims, court battles and the future of pandemic-related insurance. In Part I of a two-part Advisory Report, Nicole Milos, Assistant Counsel at AAIS, explains why BI policies were never meant to cover losses from pandemics.

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.”

At AAIS, we are focused on delivering a Member experience that reflects the changing nature of insurance and the shifting needs of our Members as well as the insurance community. Our Members have expressed concerns about the value delivered by antiquated advisory models. Now, we’re responding with an innovative new approach to advisory services…our All Access Advisory Membership.  

Imagine this: You’re working from home, like many others during the COVID-19 pandemic. Your children are also home, remote learning. One of your kids falls prey to malware, infecting your entire network with a virus. Your at-home business’s website is shut down for eight hours. You sigh a breath of relief, thankful that your insurance will cover the costs… or does it?

COVID-19 has caused an abundance of challenges for businesses everywhere. With protective restrictions, nonessential businesses were forced to send employees home and, in many cases, shut down due to the threat of the rapidly spreading virus. These businesses deemed "nonessential," however, are essential to the livelihoods of many, leaving businesses in a state of panic. How were they to continue when they couldn't remain open? Many businesses that could feasibly function as a remote workforce have attempted the transition, and as COVID-19's threats persist, many schools have made the decision as well.