Hurricane Irma will test the infrastructure and financial wherewithal of some insurers doing business in Florida, particularly newcomers, as Chris Draghi and Michelle Baurkot of AM Best explain.
To make the best of the new automation technologies, insurers are learning to adapt to the reality of ‘digital labour’ to drive their strategies and achieve their long-term objectives, as Bill Miller and Mark Allitt of KPMG in Bermuda explain.
Markel’s Andrew Barnard tells Bermuda:Re+ILS that the company will provide a robust and rapid response to its clients caught up in Hurricane Irma.
Hannover Re (Bermuda) was launched in 2001 after careful consideration by its German parent company. Konrad Rentrup, chief executive since the company’s launch, discusses the past 16 years with Bermuda:Re+ILS and what, if anything, might turn the soft market.
Having come through the integration process between XL and Catlin, XL Catlin doesn’t want to be the biggest player in the market. Instead it wants to be the best, as Charles Cooper, its president and chief underwriting officer, tells Bermuda:Re+ILS.
New technologies are starting to enter the relatively unchanged world of re/insurers’ reserving departments—and companies willing to invest in and embrace some of the applications could gain a significant advantage, as Bill Miller from KPMG in Bermuda tells Bermuda:Re+ILS.
Attracting the best talent from Generation Y and getting the best from them represents one of the biggest challenges for reinsurers. Those in Bermuda, however, might be having an easier time of it than elsewhere. Here, as part of a bigger feature available online, Bermuda:Re+ILS tracked down and interviewed 29 young executives—all 35 or under–who explain why they chose this industry.
For the third year running, this publication has selected a handful of profiles of the entrants from 2017 which are presented below.
Litigation funding, the practice by which a third party funds a costly litigation or arbitration case and receives a fee if the case is won, is increasingly a factor in claims inflation. Jon Steer, global head of claims at Aspen Re, highlights why this is a growing concern for reinsurers.
Bermuda’s reinsurers and their priorities are changing as they become bigger, broader and willing to accept new risks. Brokers must keep pace with that and even facilitate the process, as Tony Fox, chairman of Aon Benfield Bermuda, explains to Bermuda:Re+ILS.