Share
Insurance Covered
The birth of modern life assurance (With Craig Turnbull)
Season 2, Ep. 24
•
Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Craig Turnbull, Senior Technical Specialist at the Bank of England, and our topic is the birth of modern life assurance. Craig has a long background in the actuarial space and has even written a book called A History of British Actuarial Thought in which he discusses, amongst other things, the development that led to the creation of Equitable Life and the birth of modern life assurance, which is what we discuss on this episode.
In this episode we discuss:
- What life assurance looked like in the 1700s compared to what we know it as in the present.
- How statistics and probability theory helped develop modern life assurance
- The role James Dodson and the idea of a lifetime policy played in modern life assurance
- How Equitable Life was founded using Dodson's ideas in 1762
- How life assurance has developed in the years since
We hope you enjoy the episode, if you did please subscribe to stay up to date with future episodes.
More episodes
View all episodes
9. Insurance as a force for good (With Rowan Douglas)
29:23Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Rowan Douglas, CEO of Climate Risk and Resilience at Howden. In this episode they discuss the role insurance has to play in building resilience in the face of climate change. In this episode we cover:Insurance as a force for goodRowan's talk at COP28How insurance can help in humanity's goal to transition to net zeroHow in the short term insurance can help us bounce back from the impact of the climate crisisWe hope you enjoyed this episode, if you did please subscribe to be notified when new episodes release.
8. Insurance as the great enabler (Dr. Franziska Arnold Dwyer)
28:59Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Dr. Franziska Arnold Dwyer. In this episode they discuss her new book, Insurance, Climate Change and the Law, which among other things looks at insurance as the great enabler for change.In this episode we cover:Why Franziska made the leap from private practice to academia Why she decided to focus on insurance and climate change in her bookWhy Franziska believes insurers should actively adopt a role that forces positive changeThree concepts 'insuring green', 'not insuring brown' and 'greening insurance' . The challenges insurers will likely face as they become the enablers. We hope you enjoyed this episode, if you did please subscribe to be notified when new episodes release.
7. Insurance for politicians (With Avril le Pitre)
15:37Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Avril le Pitre, Founder and CEO of Adverse Selection, a brand new MGA that offers protection for politicians.In this episode we cover:How Avril identified this need for politicians insuranceWhat the policies cover and how many politicians are purchasing this insuranceJurisdictions that they currently cover and possible expansionsNew products Avril is looking to launch in the futureWe hope you enjoyed this episode, if you did please subscribe to be notified when new episodes release.6. The 5 secrets to handling large claims (With Sarah Howell)
32:33Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Sarah Howell, Claims Manager at Liberty Specialty Markets, and the topic for discussion is the 5 secrets to handling large claims.In this episode we cover:Sarah's career in insuranceWhat makes a 'large claim'Sarah's 5 secrets on how to effectively manage large claimsWhich of the 5 secrets is the most importantWe hope you enjoyed this episode, if you did please subscribe to be notified when new episodes release.
5. The birth of an MGA (With James Sterling & Charles Boorman)
31:13Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by two guests, Charles Boorman, CEO and James Sterling, Head of Claims, at Kayzen Specialty a new MGA, and in this episode we discuss the story of how Kayzen was formed.In this episode we discuss:A recap on what an MGA actually is and what role they play.How MGA's differ from insurers.Who Kayzen are and what lines of business they write.Why Charles decided to start an MGA.Why Kayzen decided to both underwrite and manage the claims.The plans for Kayzen's future.4. On being the Director General of the ABI (With Hannah Gurga)
30:10Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Hannah Gurga, Director General of the ABI, and they will be discussing Hannah's role at the ABI. In this episode we cover:An overview of the ABIWhat the role of Director General entails and if it differs to that of a CEOHow the governance of the ABI is organisedThe ABI's current 3 year strategy, the aims of it and what progress has been madeThe issues Hannah has on her radar for the insurance industryWe hope you enjoyed this episode, if you did please subscribe to be notified when new episodes release.3. A look at kidnap and ransom insurance (with Charlie Hanbury)
32:42Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Charlie Hanbury, CEO of Samphire MGA, and in this episode they will be discussing all things K&R, that's kidnap and ransom insurance. In this episode we cover:What kidnap and ransom insurance coversHow common kidnap is around the worldWho buys this kind of cover and why?How kidnap and ransom insurance has developed in the last century and how it may develop in the futureWe hope you enjoyed this episode, if you did please subscribe to be notified when new episodes release.2. Moral hazard: the dark heart of insurance (With Robert Hartwig)
36:36Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Robert Hartwig, Associate Professor of Finance at the University of South Carolina. I this episode they discuss the concept of moral hazard in insurance. In this episode we cover:What is meant by the term moral hazard.The two forms of moral hazard.How insurers protect themselves against moral hazard.The other side of moral hazard, can it actually be a good thing as well?Insurance as an enabler, providing a financial safety net for when risk goes wrong. Links between moral hazard and the climate crisis.We hope you enjoyed this episode, if you did please subscribe to be notified when new episodes release.
1. The insurance of coral reefs (With Sarah Conway)
29:53Welcome to Insurance Covered, the podcast that covers everything insurance. In this episode Peter is joined by Sarah Conway who is a Director in WTW’s Disaster Risk, Finance & Parametrics team, leading the Ecosystem Resilience practice. In this episode we discuss insurance of coral reefs and climate finance.In this episode we cover:Why coral reefs need insurance.The importance of coral reefs.How this insurance product works and how the parametric policy is triggered.How the issue of insurable interest is resolved.We hope you enjoyed this episode, if you did please subscribe to be notified when new episodes release.