Articles

Actuarial & underwriting

How the COVID-19 pandemic is impacting captives

The alternative risk market has always been creative and responsive to “uninsurable” events, but the COVID-19 pandemic is revealing risk in unexpected places, and challenging old notions about what does or does not constitute insurance. Captives have a real opportunity to step up and help businesses navigate the changing risk landscape, says Gary Osborne of Risk Partners.   3 June 2020

Actuarial & underwriting

Medicare Supplement policyholders overcharged due to incorrect personal data

The Delaware Department of Insurance (DDI) has received dozens of complaints after Highmark Blue Cross Blue Shield (HBCBS) processed hundreds of customer birthdates incorrectly, leading to increased premiums for Medicare Supplement participants.   27 May 2020

Actuarial & underwriting

Nexus Specialty hires Bruce Simmons to beef up financial lines business

Nexus Specialty has hired Bruce Simmons as vice president of professional and management, as the MGA builds up its recently launched financial lines business.   26 May 2020

Actuarial & underwriting

R&Q hires Tom Solomon as CFO

Randall & Quilter Investment Holdings has appointed Thomas Solomon as group chief financial officer. R&Q confirmed Solomon will also be named on the board of directors later in the year.   21 May 2020

Actuarial & underwriting

AGCS names Catharina Richter as global head of its cyber center of competence

Catharina Richter has been named as global head of the cyber center of competence (CoC) at Allianz Group. She takes up her position on June 1.   20 May 2020

Actuarial & underwriting

Insurers well placed to withstand COVID-19 pandemic: AM Best

Insurers look well placed to withstand the impact of COVID-19, according to initial stress testing conducted by AM Best.   18 May 2020

Actuarial & underwriting

Operate with a hard market mentality at all times: CICA captive strategies panel

“Captives should structure, domicile and operate with a hard market mentality at all times, and take advantage of softening when they can,” according to Peter Rosiere, a vice president of risk management at Sodexo.   15 May 2020

Actuarial & underwriting

CorRisk hires Christine DeFelice to lead architects and engineers professional liability

CorRisk Solutions has hired Christine DeFelice as managing general underwriter to lead its architects and engineers (A&E) professional liability team.   14 May 2020

Actuarial & underwriting

Breaking the rule of indemnity

What qualifies as insurance? Risk transfer and risk distribution are usually cited as key factors, but what if a policy passes this two-part test, before failing the ‘rule of indemnity’ test, asks Greg Lang of the Reinsurance and Insurance Network.   14 May 2020

Actuarial & underwriting

Commercial insurers cannot cover pandemics via business interruption, says American Academy of Actuaries

Business interruption (BI) payments related to the COVID-19 pandemic should be covered by federal insurance programmes, rather than the commercial market, according to the American Academy of Actuaries (AAA).   13 May 2020

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