News Column

A.M. BestTV: Urban Tornadoes; First Quarter Profits; Change at FM Global

August 8, 2014

By a News Reporter-Staff News Editor at Insurance Weekly News -- In this episode of A.M.BestTV, Megan Linkin of Swiss Reinsurance Company Limited (Swiss Re) assesses the potential impact of a major tornado striking Chicago, IL. Additionally, a new report from A.M. Best summarizes first-quarter 2014 profits in light of severe winter weather, and in this same episode, Shivan Subramaniam, FM Global Group's president and CEO, prepares to step aside. Linkin, Swiss Re's National Hazards Expert, stated, "If an EF-5 tornado should hit Downtown Chicago, it would cost the insurance industry $10-$20 billion the equivalent of the area being hit by a major hurricane, and although the insurance industry would be able to absorb the cost, the loss potential is staggering." Linkin also encourages not only the industry, but state and local governments in tornado-prone areas, to prepare for the possibility of an EF-5 tornado striking their area.

Click on to view this episode. Recent episodes of A.M.BestTV include: The Institutes Reaches Out to New Insurance Education Markets: The Institutes, known for its Chartered Property Casualty Underwriters (CPCU) certification and other programs, is discovering a new outlet for its insurance-specific training: international technology, consulting and service companies: Insurers, Regulators Wary of Ride Sharing Services: As ride-sharing services such as Uber, Lyft and Sidecar spread into United States and world markets, insurers say that policies, underwriting considerations and limits designed for personal automobile coverage should not apply to those driving for profit: Global Regulators Update Capital Plan; Life Sales Sag: International insurance supervisors draw criticism after seeking an August deadline for comment on their updated capital requirements plan. Also, Kurt Karl chief economist of Swiss Reinsurance Company Limited details the state of world insurance growth: 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 View A.M.BestTV episodes at A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit Copyright 2014 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

Keywords for this news article include: Industry, A.M. Best, Financial Companies, Swiss Reinsurance Company, Insurance Broker Companies.

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Source: Insurance Weekly News

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