As President Joe Biden’s administration places a focus on COVID-19 recovery, four industry experts explain what his presidency means for the re/insurance market.
In contrast to the last US President, Joe Biden is more focused on recovery than partisan politics, and he looks set to use his “bully pulpit” to drive significant change in everything from foreign policy to taxation—all of which will impact the re/insurance industry.
In particular, the industry is concerned about inflation and tax reform, especially in the wake of COVID-19 rescue efforts. This was one of the main talking points from a panel discussion titled “What the US election result means for the re/insurance market”. The discussion took place on Intelligent Insurer’s Re/insurance Lounge, an online platform where interviews and panel discussions are available on demand.
The event featured Frank Nutter, president of the Reinsurance Association of America; Michael Biltoo, partner at Kennedys; Nat Wienecke, senior vice president federal government relations & political engagement at the American Property Casualty Insurance Association; and Joel Wood, senior vice president, government affairs at the Council of Insurance Agents & Brokers.
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