The April issue of Best’s Review reports on emerging risks and the growing interest in parametric insurance to tackle less-insurable risks:

• “Parametric Insurance Contracts May Apply to Tougher Risks” explores the value of parametric insurance in areas where traditional indemnity coverage can be difficult to obtain.
• “Insurers See Generative AI, Climate and Cyber as Key Risks” looks at where the industry is hiring and expanding regarding risk.

Also included:

• “AI-Powered Prying in Social Media Raises Ethical Concerns in Insurance” explains the debate over using artificial intelligence to gather lifestyle information for assessing risks and preventing fraud.
• “Senate Committee Report: PPLI Is a Multibillion-Dollar Tax Giveaway” lays out what the committee’s 18-month investigation found and what U.S. Sen. Ron Wyden and others have to say about it.
• “Don’t Get Carried Away With 2023 Cat Bond Returns” examines why AM Best and others warn that investors need to be cautious about risks as terms weaken for new bonds.
• “Leading AI Platforms Disagree on Pinpointing Industry’s Most Pressing Issue” features the different takes from large language models about what is the single biggest issue facing today’s insurance industry.

Best’s Review is AM Best’s monthly insurance magazine, covering emerging issues and trends and evaluating their impact on the marketplace. Access to the complete content of Best’s Review is available here.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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