Contact Center Industry News

TMCNet:  A.M. BestTV: Insurance Legislation Picks Up; Business Travel Concerns

[July 25, 2014]

A.M. BestTV: Insurance Legislation Picks Up; Business Travel Concerns

OLDWICK, N.J. --(Business Wire)--

In this episode of A.M.BestTV, Kathy Donovan, senior compliance counsel of Wolters Kluwer Financial Services reports that the pace of U.S. state insurance-related legislation is running ahead of 2013. In addition, James Scott, accident product head at American International Group, Inc.'s Benefit Solutions discusses developments in business travel insurance.

Donovan said that what makes the 2014 numbers on state insurance-related bills more impressive is that it does not include any actions from Texas, which typically only enacts legislation in odd number years. Other notable activity, according to Donovan, includes legislation that increased consumer protection measures in the property/casualty arena, and more attention being given to unclaimed life insurance benefits.

In a separate interview, Scott discussed that for business travel insurance, the following concerns need to be emphasized to employers and risk managers: risk assessment, risk mitigation, training, communication and monitoring and tracking.

Also discussed is a recent Best's Briefing entitled, "The Insurance Implications of Malaysia Airlines Flight MH-17," which states that the total insurance loss will comprise passenger liability claims and physical damage to the aircraft. The liability loss will be shared between the insurance and reinsurance markets.

Click here to view this episode.

Recent episodes of A.M.BestTV include:

  • What's Ahead for U.S. Terrorism Risk Coverage: Bernie Heinze of American Association of Managing General Agents (AAMGA), Brady Kelley of National Association of Professional Surplus Lines Offices, Ltd. (NAPSLO) and Frank Nutter of te Reinsurance Association of American, along with other insurance industry executives, outline the differences in the House and Senate terrorism coverage bills and assess chances for timely resolution:
  • AAMGA Director: 14 Years is Long Enough to Wait for NARAB: Bernie Heinze of AAMGA looks at the legislation creating a national registry of insurance producers, the National Association of Registered Agents and Brokers (NARAB II), which was included in the Senate's Terrorism Risk Insurance Act (TRIA) extension:
  • Soaring Skyscrapers Highlight Host of New Risks: Hugh Burgess, president and CEO of Allianz Global Corporate & Specialty SE, Americas Region and Manfred Schneider, Head of Engineering North America, Allianz Global Corporate & Specialty SE, both address the issues that have arisen concerning new height construction, along with new technology, underwriting and safety challenges:
  • 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:

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.

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