Morning Briefing: XL Catlin recognized for insurance innovation

XL Catlin recognized for insurance innovation
Global insurer XL Catlin has been given top-billing for its work in insurance innovation.

The ranking in Advisen’s Annual Pacesetter Index recognizes the insurer’s introduction of 33 new insurance coverages, risk management services or coverage enhancements during 2016.

“We have been working very hard to be innovative and creative in helping clients manage their risks around the world,” Greg Hendrick, XL Catlin’s President, Global Property & Casualty noted. “In our first full year of operation as XL Catlin, we climbed to the top spot of Advisen’s index.”

Hendrick paid tribute to the hard work of the firm’s insurance professionals and was optimistic about the year ahead.

“I’m incredibly proud of what XL Catlin colleagues are accomplishing every day. We’re excited about the momentum we’ve got going into 2017,” he said.
 
International role for Oklahoma insurance commissioner
John D. Doak, Oklahoma Insurance Commissioner, has been appointed to represent the National Association of Insurance Commissioners at international economic organization OECD.

Doak will represent US insurance regulators at the organization and present on the US state-based system of insurance regulation.

"I'm honored to have this opportunity to represent the NAIC at the international level," said Doak. "International dialogue between insurance supervisors is critical as the global insurance market becomes increasingly connected."
 
Brokers call for government help to protect their business
Insurance brokers in the UK are calling on the government to protect their access to European markets ahead of formal Brexit negotiations.

The British Insurance Brokers’ Association wants the UK lawmakers to commit to freezing the Insurance Premium Tax and to negotiate to retain access to the European single-market.

The organization is calling for a minimum 5-year transition period to allow the insurance industry time to adjust to the impact of Brexit; and protection for EU insurance professionals in the UK and vice-versa.