BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

Login Register Subscribe

Best sees stable outlook for reinsurers

Reinsurance outlook A.M. Best

Rating agency A.M. Best Co. Inc. said Friday that the outlook for the reinsurance industry remained stable and the sector’s exposure to the coronavirus pandemic was “manageable.”

The property/casualty reinsurance sector has significant excess capital and is seeing stable pricing with “positive momentum across a broadening spectrum of business classes,” the Oldwick, New Jersey-based rating agency said in a report.

In addition, although the property/casualty and life reinsurance business are “distinct,” Best said, “the resulting diversification benefits the global reinsurance segment from an overall earnings perspective.”

Reinsurers’ underwriting risk from COVID-19 is “manageable at this time,” the report said, although the extent of losses will depend on the duration of the pandemic.

“Barring regulatory, judicial, or legislative action that could change contract terms and conditions, segment losses should be manageable and within risk tolerances,” the report said.

Insurers with the most potential for insured losses from the pandemic are in specialty areas, such as event cancelation, Best said. In addition, reinsurance contracts generally contain exclusions for losses resulting from contagious diseases or pandemics and actions of civil or military authorities, the report said.

More insurance and risk management news on the coronavirus crisis here