A.M. BestTV: A.M. Best Analytic Leaders Explain Rating Update Roll-Out

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April 4, 2016 1:21 PM EDT

OLDWICK, N.J.--(BUSINESS WIRE)-- This A.M.BestTV episode highlights a recent A.M. Best briefing held in New York, NY, where A.M. Best executives discussed the agency’s updated Best’s Credit Rating Methodology (BCRM) and Best’s Capital Adequacy Ratio (BCAR). Click on http://www.ambest.com/v.asp?v=bcrm416 to view the entire program.

“Originally, A.M. Best released the updated BCRM with BCAR for U.S. insurers. Later this year, A.M. Best will roll-out its other BCAR models for life/health and universal insurers, which will take care of international companies as well as non-statistical filers,” said James Gillard, group vice president, A.M. Best. Gillard also said that A.M. Best expects all the new models will go live in the first quarter of 2017.

Matthew Mosher, executive vice president and chief operating officer, A.M. Best Rating Services, Inc., said that most companies have been fine with the methodology updates and its transparency, but that some questions remain. “We need to make sure we’re able to provide that information so that users of the model and companies that are being rated with it have a good understanding of what’s driving their results,” said Mosher.

Other people who appear in this episode include:

  • Andrea Keenan, senior managing director, industry relations, A.M. Best;
  • Thomas Mount, vice president, A.M. Best; and
  • Stephen Irwin, vice president, A.M. Best.

Recent episodes of A.M.BestTV include:

  • The Entire World is Watching: Risk Managers Prepare for Democratic National Convention: A host of risk exposures and insurance coverages will come into play as Philadelphia, PA, prepares to host the Democratic National Convention in July: http://www.ambest.com/v.asp?v=conventions416.
  • Chubb Division President: Biggest Competitor to High Net Worth is Mass Market: Recent interview with Fran O'Brien, president, North America personal insurance, The Chubb Corporation, who said the merged company combines elements of Chubb, Ace Limited and Fireman's Fund Insurance Company: http://www.ambest.com/v.asp?v=chubb316.
  • Florida Homeowners Insurers Deluged by Pass-Along Claimants: Florida homeowners insurance carriers say water mitigation companies that file insurance claims acquired from customers are driving up costs and raising premium rates: http://www.ambest.com/v.asp?v=floridaclaims316.
  • Insurance Industry Takes Aim at Younger Recruits: The insurance industry is taking new initiatives to recruit a younger workforce. However, some companies are struggling to attract the number of people they believe they will need to strengthen the future workforce, as misconceptions about the insurance industry are hampering their efforts. Nevertheless, new programs such as MyPath are drawing online traffic as The Institutes and others position the sector as an attractive employment choice for younger workers: http://www.ambest.com/v.asp?v=mypath316.

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.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2016 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
[email protected]

Source: A.M. Best


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