Brave new world.As countries around the world adopt laws and agreements opening their economies to international trade, insurers are taking advantage of these new markets and their opportunities for rapid growth. Our cover story, "The New Frontier New Frontier President John F. Kennedy’s legislative program, encompassing such areas as civil rights, the economy, and foreign relations. [Am. Hist.: WB, K:212] See : Aid, Governmental " on page 32, explores the viability of some of these markets based on such characteristics as a stable political and economic system, an established distribution network and an educated population. Although China has drown drown v. drowned, drown·ing, drowns v.tr. 1. To kill by submerging and suffocating in water or another liquid. 2. To drench thoroughly or cover with or as if with a liquid. 3. the most attention from insurers in the past five years, carriers are now showing interest in Russia Russia, officially the Russian Federation, Rus. Rossiya, republic (2005 est. pop. 143,420,000), 6,591,100 sq mi (17,070,949 sq km). , Turkey, Ukraine and the United Arab Emirates United Arab Emirates, federation of sheikhdoms (2005 est. pop. 2,563,000), c.30,000 sq mi (77,700 sq km), SE Arabia, on the Persian Gulf and the Gulf of Oman. , among others. Mapping It Out Another factor attracting insurers to certain countries is their low insurance penetration, measured by premiums as a percentage of gross domestic product. To illustrate the current situation, A.M. Best has prepared a map showing insurance penetration by nation. A 20" x 15" version of the map is attached to page 33 and can be easily removed to save for future reference. In addition to showing penetration, the map places countries in risk tiers based on A.M. Best's risk analyses. The analyses include, among other factors, an assessment of local accounting rules, government policies and regulation, economic growth and social stability. The purpose is to determine how factors outside an insurer's control affect its ability to meet its obligations to its policyholders. Recognition for Best's Review The APEX apex (a´peks) pl. apexes, a´pices [L.] tip; the pointed end of a conical part; the top of a body, organ, or part.ap´ical apex of lung the rounded upper extremity of either lung. Awards for Publication Excellence recently honored hon·or n. 1. High respect, as that shown for special merit; esteem: the honor shown to a Nobel laureate. 2. a. Good name; reputation. b. Best's Review and an associated publication. The organization presented a Grand Award in the Brochures, Manuals and Reports category to The Guide to Understanding the Insurance Industry, which was sent to all Best's Review subscribers with the April 2005 issue. Awards of Excellence were presented to the November 2005 issue of Best's Review in the Magazine & Journal Design & Layout category and to the "Foundations of Regulation" series in the Feature Series Writing category. The series appeared in the October, November and December 2005 issues of the magazine. Sally Whitney is editor. You may reach her at (908) 439-2200, Ext. 5340, by writing to A.M. Best Co., Ambest Road, Oldwick, NJ 08858, or by e-mail at sally.whitney@ambest.com. The e-mail address See Internet address. e-mail address - electronic mail address for Best's Review is bestreview@ambest.com. |
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