OLDWICK, N.J.--(BUSINESS WIRE)-- It no longer takes a Hurricane Katrina or a Northbridge earthquake to create heavy losses. Why? And does this mean the insurance industry’s long-held assumptions are wrong? A panel of experts examines this new loss environment in an October 16 webcast hosted by A.M. Best Co.
Not long ago, we expected named hurricanes and earthquakes to be the only things to produce losses in excess of a billion dollars. Today, and with an ever increasing frequency, we are witnessing higher losses than ever before due to flooding, tornadoes, winter storms, hail, brush fire and other atmospheric events. Here and abroad, these smaller-scale but severe events have overturned communities, decimated finances and have shown insurance professionals that their traditional attitudes towards managing these risks are now insufficient.
In addition, growth in wealth, population density and development – compounded by our ever-increasing dependence on technology and communications in almost every facet of life and work – have placed communities, homes, businesses and those insuring them at greater risk of large-scale losses than ever before.
A panel of experts will review how societal change, dependence on technology, weather developments, historical patterns, coupled with increased exposures and demands for fuller coverage are creating an environment for increased losses more often, higher expectations and greater vulnerability. Experts on reinsurance, climate, political and social developments and others discuss how insurance and societal leaders can create a better risk framework for today’s changed loss environment. This webinar is set for Tuesday, October 16, at 2 p.m. Eastern Time.
Register for the complimentary webinar at www.bestreview.com/webinars/beyond12.
The event is presented by Swiss Re. Visit them at www.swissre.com.
Attendees can submit questions in advance during registration or email questions to news@ambest.com during the live event. Coverage of the webinar will be featured in an upcoming issue of Best’s Review. For more information about the webinar, please call (908) 439-2200, ext. 5561, or email lee.mcdonald@ambest.com.
Best’s Review, A.M. Best Co.’s award-winning monthly publication (www.bestreview.com), covers the global insurance industry. For information about advertising in Best’s Review or webinar sponsorship opportunities, call (908) 439-2200 ext. 5399, or email advertising_sales@ambest.com.
Founded in 1899, A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.
Copyright © 2012 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.
A.M. Best Company
Lee McDonald
Group Vice President, Communications
(908) 439-2200, ext. 5561
lee.mcdonald@ambest.com
Source: A.M. Best Company