Source: http://www.wrin.tv/index.php/property-casualty-briefing-pcis-jeffrey-junkas-on-legislative-threats-to-underwriting-freedom
Timestamp: 2014-04-23 14:59:17
Document Index: 93711643

Matched Legal Cases: ['art 2', 'art 1', 'art 2', 'art 2', 'art 1', 'art 2', 'art 1', 'art 2']

Property Casualty Briefing: PCI’s Jeffrey Junkas on legislative threats to underwriting freedom.
Insurance-linked securities are among best kept investment secrets, according to RMS. Emerging market megatrends include supply chain risks and social media, according to XL. Open modeling helping to satisfy ERM and regulatory requirements in Asia Pacific, according to RMS and Risk Frontiers Flood is the biggest driver of typhoon losses in China... according to RMS Director, Business Solutions. WRIN.tv Week in Review: April 14-18, 2014. While tornadoes grab headlines, hail accounts for nearly 60% of losses during April/May storm season in the U.S, according to RMS Director, Model Product Management. Property Casualty Briefing: PCI’s Jeffrey Junkas on legislative threats to underwriting freedom. Credit-based insurance scoring has been a factor in classifying risk for many years. However, legislatures across the U.S. are looking to limit the use of certain information in the underwriting of consumer risk. In this first edition of Property Casualty Briefing, Jeffrey Junkas, Regional Manager of State Government Relations with the Property Casualty Insurers Association of America (PCI) discusses the legislative efforts to curtail the use of credit-based insurance scoring and other threats to underwriting freedom being considered across the U.S. The “Property Casualty Briefing”, sponsored by PCI, provides insight on public policy, recent legislation and regulation, economic data and trend analysis, and other issues important to consumers and the property and casualty industry. PCI and WRIN.tv will produce Property Casualty Briefings at least once each month to ensure those in the industry are kept informed on a timely basis. For more information on issues affecting the U.S. Property Casualty insurance community, visit the PCI website. Comments -1
The following is not the view of the company I work for. I am an agent for 40 years and against credit-scoring. The gentleman said it best: It is not an "intuitive" rating factor. Why isn't it? Because correlating it to expected claim frequency requires much more stretch than correlating accident, moving violations, etc. Those factors don't require surmise to be correlated, and should be enough! To lay credit-scoring on top of that is to seemingly go out of one's way to hurt many folks who fell on hard times. If someone learned that people with freckles had a LOWER accident rate, would the industry allow a credit for the be-freckled? Yes, that's more of a stretch than for credit score, but the principal is the same: by definition, statistical correlations DECLARE NOTHING about causality. Once you move away from causal factors, you are into guessing. The "intuitive" factors, most plausible, are enough to assess risk. Why intrude more into one's privacy and worsen people's misery?
Insurance-linked securities are among best kept investment secrets, according to RMS.Peter Nakada, Capital Markets Managing Director from RMS, discussed the role of capital markets in traditional insurance, and why insurance-linked securities (ILS) and reinsurance as an asset class, are among the best kept investment secrets. Watch moreComments(0) 22 Apr 2014
Emerging market megatrends include supply chain risks and social media, according to XL.Jacob Rosengarten, Chief Enterprise Risk Officer at XL Group, speaks with WRIN.tv about global risks and megatrends affecting the insurance industry. Watch moreComments(0) 22 Apr 2014
Open modeling helping to satisfy ERM and regulatory requirements in Asia Pacific, according to RMS and Risk FrontiersPaul VanderMarck, Chief Products Officer at RMS, and John McAneney, Managing Director with Risk Frontiers, spoke to WRIN.tv about the challenges of risk modeling in the Asia Pacific region and how partnering on model delivery can benefit customers. Watch moreComments(0) 21 Apr 2014
Flood is the biggest driver of typhoon losses in China... according to RMS Director, Business Solutions.The West Pacific Typhoon season runs all year, but its peak is from July- October. Already, five named storms have occurred, the number is usually two. A developing El Nino may impact activity in the season as it has been correlated in the past with active seasons. Watch moreComments(0) 21 Apr 2014
WRIN.tv Week in Review: April 14-18, 2014. WRIN.tv Week in Review features our Global Roundup; Joe Deems from the NRRA; Jon Guy discussed reinsurance trends; Ex-ceed-ance Conference with Dr. Robert Muir-Wood on hurricane risk and climate risk modeling; Chris Folkman on TRIA, and Matthew Nielson on severe storm risk. Watch moreComments(0) 19 Apr 2014
While tornadoes grab headlines, hail accounts for nearly 60% of losses during April/May storm season in the U.S, according to RMS Director, Model Product Management.In the U.S. and Canada during April and May, cold, dry air from northern regions collides with warm air from the Gulf. These occurrences can span multiple states and last several days causing billions of dollars in damage per occurrence. Watch moreComments(0) 18 Apr 2014
Past data is not the only key to climate risk modeling, according to Dr. Robert Muir-Wood at RMS (Part 2).WRIN.tv continues its conversation with Dr. Robert Muir-Wood, RMS Chief Research Officer, on climate change and the future of risk modeling, at the Exceedance 2014 Conference. Watch moreComments(0) 17 Apr 2014
TRIA is not a permanent solution…The terror threat landscape will never fully go away, according to RMS Director, Model Product Management.With Congress expected to extend the Terror Risk Insurance Act (TRIA), WRIN.tv spoke with Chris Folkman, RMS Director, Model Product Management, about the magnitude of terror risk that concern insurers, changes to TRIA, alternative market involvement and the future. Watch moreComments(0) 17 Apr 2014
"Water is the new wind" in hurricane risk, according to Dr. Robert Muir-Wood of RMS. (Part 1).WRIN.tv speaks with Robert Muir-Wood, RMS Chief Research Officer, at the Exceedance Conference 2014. Here, Dr. Muir-Wood discusses the upcoming hurricane season and the difference between wind and storm surge risk. Watch moreComments(0) 16 Apr 2014
Softening rates, growing alternative capital, and growth in Middle East/North Africa – Jon Guy comments on trends in reinsurance.Jon Guy, Editorial Director of reinsurance magazine, joins WRIN.tv to discuss the impact of softening rates, the commitment of alternative capital, the effect of lower reinsurance pricing on the primary market, and the search for growth among reinsurers in Asia/Pacific and Middle East/North Africa. Watch moreComments(0) 15 Apr 2014
Appellate Court decision has far-reaching implications for RRGs, according to Joe Deems, Executive Director of the National Risk Retention Association.Joe Deems, executive director of the National Risk Retention Association, discusses a recent ruling by the Second Circuit Court of Appeals in NY in a four-year-old case that pit a victim of sexual abuse against Allied Professionals Insurance Company. Watch moreComments(0) 14 Apr 2014
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New Product Spotlight features Allied World U.S., FICO, XL, SSQ Financial Group, and the EU’s Sentinel-1a satellite.New Product Spotlight features Allied World U.S., FICO, XL, SSQ Financial Group, and the EU’s Sentinel-1a satellite. Watch moreComments(0) 08 Apr 2014
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Insurers face changes due to TRIA, ACA, NFIP and the FIO…according to Dr. Robert Hartwig of III.In Part 2 of WRIN.tv’s discussion with Dr. Bob Hartwig, the president of the Insurance Information Institute (III) addresses a range of activities by the U.S. federal government that affect the insurance industry, including the TRIA, the ACA, the NFIP and the FIO. Watch moreComments(0) 03 Apr 2014
European Insurance Forum to focus on “seismic shifts” and commemorate DIMA’s 25th anniversary, according to DIMA CEO.CEO of Dublin International Insurance Management Association comments on “25 at 25” initiative commemorating DIMA’s 25th Anniversary and “seismic shifts” theme at European Insurance Forum (15-16 May). Watch moreComments(0) 02 Apr 2014
Q1 winter storm losses were large but manageable, while Nat CAT potential remains high for rest of year…according to III’s Dr. Robert Hartwig.WRIN.tv welcomed Dr. Robert Hartwig, President of the Insurance Information Institute (III), to discuss how recent winter storms and record drought in the U.S. will affect Q1 2014 results for insurers and the market overall. Watch moreComments(0) 01 Apr 2014
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WRIN.tv Week in Review: March 24–28, 2014. WRIN.tv Week in Review features our Global Roundup on UK pensions and investments, CIPPIB, ACA and Energy; A.M. Best’s outlook for Life & Annuity and Health Insurance sectors; Ty Sagalow on insurance innovation and new products in 2014. Watch moreComments(0) 28 Mar 2014
Health insurers face many unknowns…and earnings pressure, but outlook is “stable” according to A.M. Best.Health insurers face dramatic changes and many challenges, but A.M. Best sees “stable” outlook due to diversification and lower, but favorable earnings through 2015. Watch moreComments(0) 27 Mar 2014
A.M. Best reviews “stable” outlook for U.S. Life & Annuity segment.The U.S. Life & Annuity sector is poised for both challenges and opportunities in 2014. A.M. Best analysts discuss the impact of the economy and regulatory changes on the segment, and the rating agency’s “stable” outlook. Watch moreComments(0) 26 Mar 2014
Growth through innovation. Ty Sagalow comments, and predicts new product focus for 2014EY and Deloitte see innovation as a key driver of growth for insurers. WRIN.tv analyst Ty Sagalow assesses progress in new product development and predicts four areas of likely innovation in 2014. Watch moreComments(0) 25 Mar 2014
Global Roundup features UK’s “pension revolution”, a bigger ACA bailout for US health insurers, CPPIB’s acquisition of Wilton Re, Marsh on Energy cyber-risk, and Ethisphere’s most ethical companies WRIN.tv’s Global Roundup features UK’s “pension revolution”, a bigger ACA bailout for US health insurers, CPPIB’s acquisition of Wilton Re, Marsh on Energy cyber-risk, and Ethisphere’s most ethical companies. Watch moreComments(0) 24 Mar 2014
WRIN.tv Week in Review: March 17-21, 2014. Global Roundup: losses from missing Malaysian flight; reaction from PCI and NAMIC on NFIP Senate vote, Towers Watson CEO survey, esurance App; President Obama pitchs ACA on "Between Two Ferns"; Property Casualty Briefing; and A.M. Best reviews reinsurance market. Watch moreComments(0) 21 Mar 2014
Robust capital creating a “stable” reinsurance market in 2014, according to A.M. Best.A.M. Best VP Robert DeRose discusses how the current economic environment and low interest rates have attracted capital to the reinsurance market. With capacity plentiful and reinsurance prices down, A.M. Best maintains a “stable” outlook for 2014. Watch moreComments(0) 20 Mar 2014
PCI's Tom Glassic Assesses the TRIA Renewal Debate in Washington; Believes Renewal is Imminent.In this edition of P&C Briefing, WRIN.tv welcomes Tom Glassic, VP of Policy & Government Relations at PCI, in a report from Capitol Hill on the renewal status of the Terrorism Risk Insurance Act (TRIA). Watch moreComments(0) 19 Mar 2014
Global Roundup features Losses from Malaysia Airlines Flight; Senate Vote on NFIP; Tower Watson’s CFO Survey; esurance Smartphone Appraisals, and President Obama Pitches ACA with Zach Galifianakis. Features: loss estimates from missing Malaysia Airliner, NAMIC and PCI respond to U.S. Senate reforms to the NFIP, Towers Watson’s survey of North American P&C CFOs, esurance’s new real-time smartphone auto appraisals, President Obama pitches ACA on Zach Galifianakis’s web series. Watch moreComments(0) 17 Mar 2014
WRIN.tv Week in Review: March 10-14, 2014. A.M. Best personal and commercial lines ratings; SIFMA ILS Conference interviews with S&P and AIR Worldwide; IRMI Energy Risk and Insurance Conference Pacific Offshore Drilling, AmWINS, Apache Corporation, XL Insurance,Liskow & Lewis and John L. Wortham. Watch moreComments(0) 16 Mar 2014
A.M. Best explains its “negative” outlook on the commercial lines P&C sector.In highlights from A.M. Best’s First Monday series, host John Weber welcomes Andrew Colannino and Rich Attanasio, vice presidents at A.M. Best, to discuss the recent shifts in the property-casualty market. Watch moreComments(0) 13 Mar 2014
Multi-well pad drilling is forcing energy risk managers to rethink their OEE coverage, according to AmWINS.Risks in the oil patch have changed dramatically over the years: from conventional drilling to horizontal drilling to the pairing of horizontal drilling and hydraulic fracturing and now multi-well drilling Watch moreComments(0) 12 Mar 2014
Communication can help brokers and energy clients reduce pervasive insurance litigation, according to Liskow & Lewis.Litigation in the energy field is pervasive and can be contentious given the significant values involved in claims, says Bill Pugh, Oil and Gas team lead at the law firm of Liskow & Lewis. Watch moreComments(0) 12 Mar 2014
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Fracking litigation may be scarce, but cyber exposures remain a focus for energy insurers.According to Denton Kernodle, Director of Risk Management at Apache Corporation, hydraulic fracturing (fracking) was a major topic and concern of underwriters and insurers at the 2014 IRMI Energy Risk and Insurance Conference. Watch moreComments(0) 11 Mar 2014
Technology presents new risks and risk management tools for energy companiesTechnology is having a significant impact on the development and distribution of energy, according to Cathy Duffy, SVP and Underwriting manager at XL in Bermuda. Oil companies are now able to move into areas that they thought had been closed Watch moreComments(0) 11 Mar 2014
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Lack of specialized talent, new technology and client safety demands are risk management concerns for offshore drilling companies.The lack of specialized talent in the offshore drilling industry today is a major risk management concern, according to Roy Hock, Insurance and Claims Manager at Pacific Offshore Drilling. Watch moreComments(0) 10 Mar 2014
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WRIN.tv Week in Review: March 3-7, 2014. Global Roundup: European Flood risks, UK's ELTO, Singapore, Valdius Re, Warren Buffet's annual letter to shareholders; Ty Sagalow on cyber crimes; SIFMA Conference-Steve Evans, PCS; IRMI Conference-Jack Gibson, Sloan Mason, Liberty Mutual. Watch moreComments(0) 09 Mar 2014
Fracking, pollution and transportation seen as emerging energy risks, according to Liberty Mutual. Brooke Shirazi, a senior underwriter specializing in the energy segment for Liberty Mutual, provided her perspective on navigating emerging energy risks in a conversation with WRIN.tv during the 2014 IMRI Energy Risk and Insurance Conference. Watch moreComments(0) 07 Mar 2014
Oil and petrochemical risks subject to rigorous underwriting, according to Sloan Mason.Anthony Dorn of Sloan Mason provides insight on oil and petrochemical insurance risks. In this discussion at the 2014 IRMI Energy Risk and Insurance Conference, he says property/casualty insurance programs in these energy segments are highly specialized and subject to demanding underwriting requirements. Watch moreComments(0) 06 Mar 2014
Environmental, Property, Cyber and Reputation risks the key topics at IRMI Energy ConferenceWRIN.tv speaks with IRMI CEO Jack Gibson, and Millie Workman, IRMI Director of Training and Education, at the second annual IRMI Energy Risk and Insurance Conference in Houston. Watch moreComments(0) 06 Mar 2014
Cat Bond market shaping up well for 2014, according to Property Claims ServicesWRIN.tv spoke with Tom Johansmeyer from Property Claim Services (PCS) about the state of the CAT bond market during the recent SIFMA Insurance and Risk Linked Securities Conference in New York. According to Mr Johansmeyer, the 2013 issuance year was "interesting" on several levels. Watch moreComments(0) 06 Mar 2014
Strong IRLS market still not meeting investor demand, says Artemis Owner/Editor Steve Evans from SIFMA Conference.The Securities Industry and Financial Markets Association (SIFMA) held its annual Insurance and Risk Linked Securities (IRLS) Conference in NY this week. WRIN.tv caught up with our newest contributor, Steve Evans, owner and editor of Artemis, Watch moreComments(0) 05 Mar 2014
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Global Roundup: Growing European flood risk, Validus Re vs. IRS on excise tax, Warren Buffet’s Letter to Shareholders; ELTO inquiries and Singapore’s Risk Management Framework. Featuring growing European flood risk, Validus Re vs. IRS on excise tax, Warren Buffet’s Letter to Shareholders; ELTO inquiries and Singapore’s Risk Management Framework. Watch moreComments(0) 03 Mar 2014
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U.S. insurance rates look stable in 2014 says President of Marsh International.Marsh’s U.S. Insurance Market Report is discussed in Part 2 ofthis two-part interview with David Batchelor, President of Marsh’s International division. Watch moreComments(0) 26 Feb 2014
President of Marsh International explains downward trend in global insurance pricing.Marsh’s Global Insurance Market - Quarterly Briefing indicates that insurance pricing is generally down in all regions except the U.S. In Part 1 of this two-part interview, David Batchelor, President of Marsh’s International division, explains trends in property, casualty and financial lines. Watch moreComments(0) 25 Feb 2014
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NAMIC CEO’s Personal Connection to Children’s Cancer Research…and St. Baldrick’sIn the U.S., some 175,000 children will be diagnosed with cancer in 2014. In fact, more children die each year of cancer than any other childhood disease. Even with these staggering figures, childhood cancers receive just 4% of the U.S. federal funding dedicated to cancer research. Watch moreComments(0) 20 Feb 2014
Ty Sagalow assesses the impact of new Oasis Loss Modelling Framework on product development.Oasis Loss Modelling Framework unveiled a significant development in the modelling of natural catastrophes it promises to promote the creation of internal models, support reinsurance negotiation and regulatory compliance, and cost reduction. Watch moreComments(0) 19 Feb 2014
HMOs/U.S. Health Insurers experience a decline in impairments, according to A.M. BestIn this edition of First Monday, A.M. Best AVP Sally Rosen discusses trends in impairments over the past several years, the impact of tightened financial standards and capital requirements, increased competition, and open enrollment in healthcare exchanges. Watch moreComments(0) 18 Feb 2014
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A.M. Best is optimistic about U.S. economy in 2014.Economic conditions can help lift results among insurance companies, or make for difficult headwinds. As we head into 2014, several questions about the U.S. economy remain unanswered, Watch moreComments(0) 13 Feb 2014
Why hopes of a global accounting standard are “unrealistic” and some proposals “unnecessary”, as the EY Regulatory Series continues.In Part 2 of this edition of the EY Global Regulatory Series, host Bob Stein continues his conversation with EY partner Jennifer Weiner and SCOR’s Jerry de St. Paer on the proposed FASB standards and the differences between the FASB and the IASB proposals. Watch moreComments(0) 12 Feb 2014
Why are FASB changes so important to insurance professionals? The answer in this edition of the EY Regulatory SeriesIn this edition of the EY Global Insurance Regulatory Series, host Bob Stein is joined by EY partner Jennifer Weiner and SCOR’s Jerry de St. Paer for a discussion on the proposed FASB standards and the implications for insurance contracts. Watch moreComments(0) 11 Feb 2014
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WRIN.tv Week in Review: February 3 – 7, 2014 Highlights from PLUS D&O Symposium, Rick Betterley Reports on EPLI, Two-part interview with NRRA Chairman, PCI Sr. Director on legislative and regulatory challenges, Willis NA, Lloyd's on Oasis Loss Modeling Framework Watch moreComments(0) 09 Feb 2014
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PLUS President Chris Duca on hot topics at the 2014 PLUS Symposium, the state of the D&O market, D&O claims and more 2014 PLUS President Chris Duca, who is also a specialty lines executive with R-T Specialty Group, discusses the major topics at the 2014 PLUS D&O Symposium, which drew over 1,100 registrants from 13 countries to New York Watch more30 Jan 2014
Ty Sagalow assesses the impact of new Oasis Loss Modelling Framework on product development.Oasis Loss Modelling Framework unveiled a significant development in the modelling of natural catastrophes it promises to promote the creation of internal models, support reinsurance negotiation and regulatory compliance, and cost reduction. Watch more19 Feb 2014
President of Marsh International explains downward trend in global insurance pricing.Marsh’s Global Insurance Market - Quarterly Briefing indicates that insurance pricing is generally down in all regions except the U.S. In Part 1 of this two-part interview, David Batchelor, President of Marsh’s International division, explains trends in property, casualty and financial lines. Global Roundup: Growing European flood risk, Validus Re vs. IRS on excise tax, Warren Buffet’s Lette… Featuring growing European flood risk, Validus Re vs. IRS on excise tax, Warren Buffet’s Letter to Shareholders; ELTO inquiries and Singapore’s Risk Management Framework. U.S. insurance rates look stable in 2014 says President of Marsh International.Marsh’s U.S. Insurance Market Report is discussed in Part 2 ofthis two-part interview with David Batchelor, President of Marsh’s International division. WRIN.tv Week in Review: February 17-21, 2014. New Product Spotlight featuring Berkshire Hathaway, CIGNA, AXA, Hyundai Marine & Fire, & MMD Ins. Services; A.M. Best on U.S. Health Insurers and HMOs; Ty Sagalow on the Oasis Loss Modeling Framework; and NAMIC’s CEO Chuck Chamness on his involvement with St. Baldricks. Malaysian non-life sector bolstered by strong economy and regulation changes, according to A.M. BestIn this edition of First Monday, host John Weber welcomes Jeff Yeung, an Associate Director at A.M. Best in Hong Kong, to discuss how strong economic fundamentals and changes in regulation in Malaysia will affect the non-life insurance sector going forward. WRIN.tv Week in Review: February 24-28, 2014. Global Roundup: Booz Allen Hamilton looks at the roles of the CRO and Chief Info. Security Officer, Deloitte on cyber risk programs, IRC warns P&C industry; Aon, BMI; Marsh’s David Batchelor on outlook for US insurance rates; and A.M. Best First Monday on Malaysia. The growing cyber crime wave and how to manage exposures, with Ty Sagalow.In the wake of recent hi-profile cyber crimes, Ty Sagalow, president of Innovation Insurance Group, provides insight on the magnitude of the risk, and how retailers and the insurance industry might best manage the growing exposure. Cat Bond market shaping up well for 2014, according to Property Claims ServicesWRIN.tv spoke with Tom Johansmeyer from Property Claim Services (PCS) about the state of the CAT bond market during the recent SIFMA Insurance and Risk Linked Securities Conference in New York. According to Mr Johansmeyer, the 2013 issuance year was "interesting" on several levels.	European Insurance Forum to focus on “seismic shifts” and commemorate DIMA’s 25th anniversary, accor…CEO of Dublin International Insurance Management Association comments on “25 at 25” initiative commemorating DIMA’s 25th Anniversary and “seismic shifts” theme at European Insurance Forum (15-16 May). Why are FASB changes so important to insurance professionals? The answer in this edition of the EY R…In this edition of the EY Global Insurance Regulatory Series, host Bob Stein is joined by EY partner Jennifer Weiner and SCOR’s Jerry de St. Paer for a discussion on the proposed FASB standards and the implications for insurance contracts. Strong IRLS market still not meeting investor demand, says Artemis Owner/Editor Steve Evans from SIF…The Securities Industry and Financial Markets Association (SIFMA) held its annual Insurance and Risk Linked Securities (IRLS) Conference in NY this week. WRIN.tv caught up with our newest contributor, Steve Evans, owner and editor of Artemis, Global Roundup features UK’s “pension revolution”, a bigger ACA bailout for US health insurers, CPPI… WRIN.tv’s Global Roundup features UK’s “pension revolution”, a bigger ACA bailout for US health insurers, CPPIB’s acquisition of Wilton Re, Marsh on Energy cyber-risk, and Ethisphere’s most ethical companies. A.M. Best explains its “negative” outlook on the commercial lines P&C sector.In highlights from A.M. Best’s First Monday series, host John Weber welcomes Andrew Colannino and Rich Attanasio, vice presidents at A.M. Best, to discuss the recent shifts in the property-casualty market. Integration and new models will enhance flow of capital into new lines of business, according to AIR…At the recent SIFMA conference in New York, WRIN.tv spoke with Rob Newbold, SVP of Business Development and Client Services for AIR in the Americas, about recent trends in modeling for the ILS space and the impact it is having on the market. Diversification driving growth in ILS market, according to S&P.At the recent SIFMA IRLS Conference in New York, WRIN.tv spoke with Gary Martucci, Director of S&P’s Financial Services Ratings Group, about developments in the Insurance Linked Securities (ILS) market. Prev