OLDWICK, N.J.--(BUSINESS WIRE)--In this A.M.BestTV episode from the annual conference of the Florida Association for Insurance Reform (FAIR), insurance leaders said Florida must revise an out-of-control system that allows mitigation companies to take control of homeowners insurance claims and drive up rates. Click on http://www.ambest.com/v.asp?v=fair516nc to view the entire program.
“This conference was designed to provide consumers, through the media and other groups, with a little better idea of how carriers are solvent, ready and able to pay claims,” said Jay Neal, president and chief executive officer, FAIR. “This applies not for just one hurricane, but for a series of hurricane events.”
The conference also explored the role that catastrophe reinsurance plays in markets heavily exposed to hurricane risks.
“I am one of those that believe the capital will come in. We saw it after Hurricane Andrew, Sept. 11 and Hurricane Katrina. However, what form that capital takes is the question now,” said Matthew Mosher, executive vice president and chief operating officer, A.M. Best Rating Services, Inc.
Other people who appear in this episode include:
- Jeff Brandes, Florida state senator, R-St. Petersburg;
- Daryl Polenz, vice president, account executive, Swiss Reinsurance Company;
- Randy Dumm, hold professor, risk management & insurance, associate director, center for insurance research, Florida State University;
- Kevin McCarty, past commissioner, Florida Office of Insurance Regulation; and
- Barry Gilway, president and chief executive officer, Citizens Property Insurance Corporation.
Full-length interviews are available as well. Go to http://www.ambest.tv to see all the interviews, which includes a discussion with Sean Shaw, an attorney and Florida's former insurance consumer advocate.
Recent episodes of A.M.BestTV include:
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- Insurers Revisit Their Asset Mix in Search of Yield, Safety: A panel of investment professionals explores opportunities for growth that are available to today’s insurance investment managers: http://www.ambest.com/v.asp?v=riskassets516.
- Aspen's Kania: Price Volatility Brings New Risks, Change to Energy Market: Tim Kania, global head of onshore energy & construction, Aspen Insurance, said lower oil prices bring risks that energy providers may be weaker financially and less attentive to maintenance: http://www.ambest.com/v.asp?v=kania416
- Pandemics’ Impact Reaches Beyond Health: Recently, insurers said that the outbreak of Zika, SARS, MES and Legionnaires diseases are affecting business operations, as well as generating surprising impacts and increased costs: http://www.ambest.com/v.asp?v=pandemic416.
A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at http://www.ambest.tv.
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