Joan Kois Woodward

Storms and #hurricanes are forecasted to appear more frequently in the Atlantic this year, potentially impacting reinsurance rates in #Florida. Discover more about how the forecast could affect the insurance markets in the article. 

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At this year's National Bureau of Economic Research meeting of the #insurance work group the importance of price-making in distressed markets was the big topic. While building Next Generation Models [NGM] at Verisk we wrote two articles (with Society of Actuaries, Casualty Actuarial Society review) for colleagues in #underwriting & #riskmanagement. The papers outline the value of our view of natural #catastrophe risk for metrics in spatial #diversification, https://lnkd.in/e2ebr5aG & for competitive #premium pricing, https://lnkd.in/e66HebMu. These have brought about some excellent discussion on the #insurancecoverage gap & a suggestion to look at the theoretical volume of #reinsurance coverage needed for distressed markets to function properly. If interested to contribute with data or research, please reach out, #floridainsurace, #californiainsurance

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As we announced on March 19 and after almost 20 years of MSA's widely read P&C Quarterly Outlook Report we are delighted tell you that MSA Research's inaugural Life/Health Insurance Outlook Report will be released early next week. The report will be available on MSA's powerful Life/Health Researcher Platform for all subscribers. Further, through April 2025 Life Insurers are able to obtain the report, upon request, at no charge from MSA or their audit/consulting firm as follows: Deloitte: Please reach out to your contact EY: Janice Deganis FCPA, FCA, FCMA, LPA, Partner and National Insurance Leader  PwC: Akif Siddiqui, Partner and National Insurance Leader or Laura Sarpong, ACA, Senior Manager  KPMG: Bobby Thompson, Partner or Chris Cornell, Partner, Audit, and National Sector Leader, Insurance MSA: Please reach out to Olajumoke Awotungase  olajumoke.awotungase@msaresearch.com Ola will be pleased to help you. As we announced last month, KPMG is the firm that contributed to this inaugural Q4-2023 Report. KPMG contributed two insightful articles: - Trends that are Charting the Course of Life and Health Insurers in 2024. - First comes IFRS-17 Implementation, next comes Optimization. Other articles include the following: - The View from MSA/Valani at YE 2023 by Serge Boutet, Steven W. Easson, FCIA, FSA, CFA, Wayne Guanzhong Tao and Nevina Kishun, MBA, PharmD - Acclimatizing to Climate Scenario Analysis by Steven W. Easson, FCIA, FSA, CFA - Large Canadian Life Insurers' CRE Exposure Poses a Threat to Their Otherwise Positive Operating Environment by Morningstar DBRS' Nadja Dreff, Ahmed Al-Shaibani and Marcos T. Álvarez - Morningstar DBRS FSR's. and - MSA Research's summarized company by company life insurer results at year-end 2023. Anyone in the c-suite of Canada's life industry needs to have access to this report and the best way of obtaining it is 'Getting with the Program', namely having your corporation onboard with MSA Researcher's Analytical Platform.

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Join us in Bermuda June 7-8 to celebrate the merger of ASU Bermuda Institute of Ocean Sciences with Arizona State University, fete BIOS's 120 year anniversary, and discuss collaborations to pioneer and validate future cycles of innovation. “Today there is broad consensus that while more can be done and no model is perfect, we understand Atlantic hurricanes reasonably robustly. However, there are numerous hazards we don’t understand nearly as well, some of which are also climate-related, such as extreme heat. “But the BIOS Risk Prediction Initiative’s proven model of governance and collaboration with industry, and the independent, robust and energised scientific research ASU-BIOS can offer, has a lot of value to accelerate a better, transparent view of these risks. In turn, these collaborations can reduce the risk of loss of life, promote community-wide resiliency and help launch exciting new financial and physical products to the market.” #innovation #reinsurance #insurance #ILS #Bermuda #STEMeducation ASU Julie Ann Wrigley Global Futures Laboratory ASU Global ASU College of Global Futures Association of Bermuda Insurers and Reinsurers (ABIR) Sheba Raza Rosemary Jones Ryan Robinson https://lnkd.in/eRecuF64

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Uncover insights into managing risk for foreign-domiciled firms in securities class actions. Learn about effective strategies to mitigate potential liabilities with this interactive tool!

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How are we driving progress and helping to support Black businesses and leaders? bit.ly/444aGmT Reflecting back on our Black Leaders Symposium in Atlanta, Mercer's Kaia West shares why our Equity = Possibility platform is so unique and drives a deeper commitment to #diversity, equity and inclusion. #leadership #culture

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What's the latest on #medicalprices in #workerscomp, you ask? #MedicalInflation takes on a fresh, new look! Check out the #NCCI workers compensation weighted medical index #WCWMI for the most recent trends.

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Not-for-profit leaders, here are your vital trends and planning tools for 2024. 👇 Hope Goldstein, CBIZ Marks Paneth's Nonprofit and Government Leader shares a few of the many important insights in our 10th annual Not-for-Profit Pulse Survey, focusing this year on resilience in the face of challenges. Download a copy of the full report here ▶️ https://okt.to/w3mY6h #NotforProfit #EconomicResilience #nonprofitorganization #nonprofitleaders

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For those of you that want to jump in and ask any of your burning questions about Group LTCi + Life, this is the session for you! See you there. Thanks Jason Dutra for hosting and putting together the concept. Gretchen Barry

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I know that this #webinar from the NAIC and featuring Dorothy L. Andrews, PhD focused on #SpeedToMarket and #RateModels is going to be great - make sure you register for Monday! #PublicPolicy #RegulatoryEngagement #StatePolicy #Actuaries

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Are we at the tipping point for adoption of in plan annuities? A big question, and great discussion today with Keith Golembiewski and Ryan Grosdidier at the Life Insurance and Annuity Conference. What do you think? LIMRA American Council of Life Insurers - ACLI Society of Actuaries

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With the healthcare delivery system in the US facing various challenges, the evaluation of healthcare consolidation on Capitol Hill is crucial. The scrutiny reflects good intentions, but there are concerns about whether the underlying issues will be addressed thoughtfully. Partisan politics could impact care delivery and healthcare professionals. It's essential to monitor this trend closely as its implications may be more far-reaching than anticipated. #healthcare #healthcareconsolidation #enterpriseriskmanagement

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In the second part of her interview with Insurance Business magazine, HUB's Katherine Frattarola continues to conversation around how to solve for capacity challenges through creative product design in a difficult market for high-net-worth individuals and families. “I think that what we've done in terms of innovating around both capacity and product design, so that we can better partner with our carriers and provide better solutions, is really the new path forward, because our carriers can't do it all." Read more: https://ow.ly/6qxa50Rk2ar #HNW #WildfireRisk #PersonalInsurance

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In the second part of her interview with Insurance Business magazine, HUB's Katherine Frattarola continues to conversation around how to solve for capacity challenges through creative product design in a difficult market for high-net-worth individuals and families. “I think that what we've done in terms of innovating around both capacity and product design, so that we can better partner with our carriers and provide better solutions, is really the new path forward, because our carriers can't do it all." Read more: https://ow.ly/9CHt50Rkkm7 #HNW #WildfireRisk #PersonalInsurance

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Your organization needs new strategies to tackle enterprise-wide risks stemming from evolutions in technology, trade, weather and workforce.    And that is exactly how Aon is thinking, as we help clients make better decisions to protect and grow their business and navigate these four interconnected megatrends, according to Aon's President Eric Andersen.   Learn how to prepare for change in our 2024 Client Trends Report: https://aon.io/3xWap9J   #MegaTrends #ClientTrendsReport #ClimateChange #ProtectionGap

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Your organization needs new strategies to tackle enterprise-wide risks stemming from evolutions in technology, trade, weather and workforce.    And that is exactly how Aon is thinking, as we help clients make better decisions to protect and grow their business and navigate these four interconnected megatrends, according to Aon's President Eric Andersen.   Learn how to prepare for change in our 2024 Client Trends Report: https://aon.io/3xWap9J   #MegaTrends #ClientTrendsReport #ClimateChange #ProtectionGap

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Large losses are often covered by risk-bearing companies, known as reinsurers, through contractual arrangements. These policies resemble a puzzle, with each piece representing a share of the risk and corresponding payment in case of a loss. For instance, in the case of the Baltimore Bridge collapse, Chubb will pay their share of the piece they appear on, a share of $350million. Nevertheless, the whole puzzle set, in terms of loss amount is in the billions. 

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