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Oct 31, 2018 17:43 UTC

A.M. BestTV at PCI: As Insurers Discuss Flood Coverage, They Are Challenged To Do More Than Talk

OLDWICK, N.J.--(Business Wire)--In this episode of A.M.BestTV, insurers and reinsurers at the annual conference of the Property Casualty Insurers Association of America (PCI) in Miami, FL, see opportunities in expanding their flood coverage. Click on http://www.ambest.com/v.asp?v=pci1018 to view the entire program.

“Eighty percent of the properties in Houston last year, residential and commercial, did not have any flood coverage,” said David Sampson, president and chief executive officer, PCI. “This year we are seeing similar numbers for Hurricanes Florence and Michael. That means these communities are going to face significant challenges far greater than they would face being covered.”

Ted Blanch, chief executive officer and chairman, COIN Re, believes insurers need to do more than just talk about the issue.

“My observation is that there is more talk than there is action,” he said. “Additionally, to the extent that we get the flood insurance issue under control, I believe, if insurance companies stop talking and start acting, we can get there much quicker.”

Other people that appear in this episode:

  • Mohit Pande, head of property underwriting, United States and Canada, Swiss Re.

For full video coverage of the PCI 2018 conference, including exclusive executive interviews, please visit http://www.ambest.tv/pci18.

Recent episodes of A.M.BestTV include:

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  • European Insurers Struggle to Grow Faster, Says A.M. Best Director: Timothy Prince, director, analytics, A.M. Best, said many insurers in the United Kingdom, France, Germany, Italy and Spain are experiencing single-digit growth, which increases pressure to develop new business strategies and consider mergers and acquisitions: http://www.ambest.com/v.asp?v=europeaninsurers1018.
  • Want Better Relationships With Insureds? Change the Business Model, Say Lemonade Executives: Daniel Schreiber, chief executive officer, and Dan Ariely, chief behavior officer, Lemonade Inc., said they have created a system that favors the economic interests of policyholders whether or not they file claims: http://www.ambest.com/v.asp?v=schreiberariely1018.

A.M.BestTV covers exclusive A.M. Best and insurance industry information and reports, targeted topics and key developments in the insurance, reinsurance and related sectors daily. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at http://www.ambest.tv.

A.M. Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.

Copyright © 2018 by A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

A.M. Best
Lee McDonald
Group Vice President, Publication and News Services
+1 908 439 2200, ext. 5561
lee.mcdonald@ambest.com

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