<br /> Rising Interest Rates Insuring the Insurance Careers New NJM CEO<br /> Pose Investing Questions Connected World Town Hall Eyes Expansion<br /> Page 30 Pages 45-64 Page 65 Page 74<br /> -ARCHs6OLUMEs)SSUE WWWBESTREVIEWCOM<br /> A.M. BEST'S MONTHLY INSURANCE MAGAZINE<br /> An<br /> Unexpected<br /> JOURNEY<br /> As Marc Grandisson prepares<br /> to take the helm at Arch Capital,<br /> he seeks to build on the insurer's<br /> success by being in a position<br /> to seize opportunities.<br /> Page 24<br /> The blue sea.<br /> True love.<br /> Our commitment<br /> to your success.<br /> (Things that <a title="Best's Review - March 2018 Edition page 1" href="http://viewer.zmags.com/publication/3316c028?page=1"> Rising Interest Rates Insuring th</a> <a title="Best's Review - March 2018 Edition page 2" href="http://viewer.zmags.com/publication/3316c028?page=2"> The blue sea. True love. Our commitment to your</a> <a title="Best's Review - March 2018 Edition page 3" href="http://viewer.zmags.com/publication/3316c028?page=3"> From the Editor's Desk Leading in a Time of Chan</a> <a title="Best's Review - March 2018 Edition page 4" href="http://viewer.zmags.com/publication/3316c028?page=4"> ON THE COVER Contents 24 An Unexpected Journey </a> <a title="Best's Review - March 2018 Edition page 5" href="http://viewer.zmags.com/publication/3316c028?page=5"> You're the expert on your business. But we can he</a> <a title="Best's Review - March 2018 Edition page 6" href="http://viewer.zmags.com/publication/3316c028?page=6"> INSURING THE CONNECTED WORLD Contents </a> <a title="Best's Review - March 2018 Edition page 7" href="http://viewer.zmags.com/publication/3316c028?page=7"> hanover.com </a> <a title="Best's Review - March 2018 Edition page 8" href="http://viewer.zmags.com/publication/3316c028?page=8"> Best's Review Interactive @ www.bestreview.com A</a> <a title="Best's Review - March 2018 Edition page 9" href="http://viewer.zmags.com/publication/3316c028?page=9"> ® A.M. Best's Pargeans: US Life and Ann</a> <a title="Best's Review - March 2018 Edition page 10" href="http://viewer.zmags.com/publication/3316c028?page=10"> Executive Changes Department DISTRIBUTION </a> <a title="Best's Review - March 2018 Edition page 11" href="http://viewer.zmags.com/publication/3316c028?page=11"> also spent more than a decade with middle market </a> <a title="Best's Review - March 2018 Edition page 12" href="http://viewer.zmags.com/publication/3316c028?page=12"> Insurance Marketing Center Court Department </a> <a title="Best's Review - March 2018 Edition page 13" href="http://viewer.zmags.com/publication/3316c028?page=13"> Best's Calendar Best's Calendar: Trade Shows/Con</a> <a title="Best's Review - March 2018 Edition page 14" href="http://viewer.zmags.com/publication/3316c028?page=14"> A Global Conversation Department Tech's Effect </a> <a title="Best's Review - March 2018 Edition page 15" href="http://viewer.zmags.com/publication/3316c028?page=15"> “ I 'd say some of the more interesting f</a> <a title="Best's Review - March 2018 Edition page 16" href="http://viewer.zmags.com/publication/3316c028?page=16"> Next Wave Department H ow </a> <a title="Best's Review - March 2018 Edition page 17" href="http://viewer.zmags.com/publication/3316c028?page=17"> Spotlight on Cyberrisk Allianz, Aon Forge Cyberr</a> <a title="Best's Review - March 2018 Edition page 18" href="http://viewer.zmags.com/publication/3316c028?page=18"> Spotlight on Marine Insurance Marine Insurers An</a> <a title="Best's Review - March 2018 Edition page 19" href="http://viewer.zmags.com/publication/3316c028?page=19"> Spotlight on Workers' Compensation NY Workers' C</a> <a title="Best's Review - March 2018 Edition page 20" href="http://viewer.zmags.com/publication/3316c028?page=20"> Spotlight on Windpools New Bill Would Bring Chan</a> <a title="Best's Review - March 2018 Edition page 21" href="http://viewer.zmags.com/publication/3316c028?page=21"> At Large Aerial Insights Insight Images captur</a> <a title="Best's Review - March 2018 Edition page 22" href="http://viewer.zmags.com/publication/3316c028?page=22"> Risk Adviser Insight A Winning Combo Insurtec</a> <a title="Best's Review - March 2018 Edition page 23" href="http://viewer.zmags.com/publication/3316c028?page=23"> Technology Home Sweet Home Insight The advent </a> <a title="Best's Review - March 2018 Edition page 24" href="http://viewer.zmags.com/publication/3316c028?page=24"> Regulatory/Law Insight Imposter Fraud Courts m</a> <a title="Best's Review - March 2018 Edition page 25" href="http://viewer.zmags.com/publication/3316c028?page=25"> $7.41 billion $$ $$ $$ $$ $$ $$ $$ $$ $$ $$ </a> <a title="Best's Review - March 2018 Edition page 26" href="http://viewer.zmags.com/publication/3316c028?page=26"> Executive Profile UnAn expe 24 BE</a> <a title="Best's Review - March 2018 Edition page 27" href="http://viewer.zmags.com/publication/3316c028?page=27"> “The transition will be seamless. I've already do</a> <a title="Best's Review - March 2018 Edition page 28" href="http://viewer.zmags.com/publication/3316c028?page=28"> by Kate Smith Executive Profile M </a> <a title="Best's Review - March 2018 Edition page 29" href="http://viewer.zmags.com/publication/3316c028?page=29"> I wouldn't be as comfortable as I am with the tra</a> <a title="Best's Review - March 2018 Edition page 30" href="http://viewer.zmags.com/publication/3316c028?page=30"> Executive Profile proven right.The big storms ha</a> <a title="Best's Review - March 2018 Edition page 31" href="http://viewer.zmags.com/publication/3316c028?page=31"> “Marc was one of the few senior managers who help</a> <a title="Best's Review - March 2018 Edition page 32" href="http://viewer.zmags.com/publication/3316c028?page=32"> Asset Management The Biggest Concern Despite ris</a> <a title="Best's Review - March 2018 Edition page 33" href="http://viewer.zmags.com/publication/3316c028?page=33"> consultant for NEPC, an independent investment co</a> <a title="Best's Review - March 2018 Edition page 34" href="http://viewer.zmags.com/publication/3316c028?page=34"> Asset Management Until rates rise marke</a> <a title="Best's Review - March 2018 Edition page 35" href="http://viewer.zmags.com/publication/3316c028?page=35"> “Our client base will be happy if rates rise and </a> <a title="Best's Review - March 2018 Edition page 36" href="http://viewer.zmags.com/publication/3316c028?page=36"> Asset Management “Our rate advice to insurers is</a> <a title="Best's Review - March 2018 Edition page 37" href="http://viewer.zmags.com/publication/3316c028?page=37"> NO TROUBLE Captives in Paradise Insurance execu</a> <a title="Best's Review - March 2018 Edition page 38" href="http://viewer.zmags.com/publication/3316c028?page=38"> Captives “As a result of the Paradise Papers the</a> <a title="Best's Review - March 2018 Edition page 39" href="http://viewer.zmags.com/publication/3316c028?page=39"> The Best Perspective on Issue Credit Ratings A</a> <a title="Best's Review - March 2018 Edition page 40" href="http://viewer.zmags.com/publication/3316c028?page=40"> Life Insurance THE REINSURANCE More than 80% of</a> <a title="Best's Review - March 2018 Edition page 41" href="http://viewer.zmags.com/publication/3316c028?page=41"> CONNECTION BEST'S REV)%7s-!2#( 39</a> <a title="Best's Review - March 2018 Edition page 42" href="http://viewer.zmags.com/publication/3316c028?page=42"> Life Insurance of the reinsurance contract were </a> <a title="Best's Review - March 2018 Edition page 43" href="http://viewer.zmags.com/publication/3316c028?page=43"> efficiently, providing for efficient aggregation </a> <a title="Best's Review - March 2018 Edition page 44" href="http://viewer.zmags.com/publication/3316c028?page=44"> Life Insurance the use of captives to fund redun</a> <a title="Best's Review - March 2018 Edition page 45" href="http://viewer.zmags.com/publication/3316c028?page=45"> particularly with regard to the treatment of hedg</a> <a title="Best's Review - March 2018 Edition page 46" href="http://viewer.zmags.com/publication/3316c028?page=46"> Life Insurance housed the most business in 2016 </a> <a title="Best's Review - March 2018 Edition page 47" href="http://viewer.zmags.com/publication/3316c028?page=47"> IInntteerrnneett ooff TThhiinnggss INSURING THE </a> <a title="Best's Review - March 2018 Edition page 48" href="http://viewer.zmags.com/publication/3316c028?page=48"> Internet of Things THE INTERNET OF THINGS </a> <a title="Best's Review - March 2018 Edition page 49" href="http://viewer.zmags.com/publication/3316c028?page=49"> Con·nec·tiv·i·ty Concerns by Kate Smith CyberCub</a> <a title="Best's Review - March 2018 Edition page 50" href="http://viewer.zmags.com/publication/3316c028?page=50"> Internet of Things industry circles, but rather </a> <a title="Best's Review - March 2018 Edition page 51" href="http://viewer.zmags.com/publication/3316c028?page=51"> that provide service to hundreds or thousands—or </a> <a title="Best's Review - March 2018 Edition page 52" href="http://viewer.zmags.com/publication/3316c028?page=52"> Internet of Things Sky's the Limit EWI Re CEO sa</a> <a title="Best's Review - March 2018 Edition page 53" href="http://viewer.zmags.com/publication/3316c028?page=53"> about everything going on inside a vehicle. Indus</a> <a title="Best's Review - March 2018 Edition page 54" href="http://viewer.zmags.com/publication/3316c028?page=54"> Internet of Things before they occur.Thus, this </a> <a title="Best's Review - March 2018 Edition page 55" href="http://viewer.zmags.com/publication/3316c028?page=55"> insurance, however, affects just one side of the </a> <a title="Best's Review - March 2018 Edition page 56" href="http://viewer.zmags.com/publication/3316c028?page=56"> Internet of Things Connected Insurance The inter</a> <a title="Best's Review - March 2018 Edition page 57" href="http://viewer.zmags.com/publication/3316c028?page=57"> on the claim a few seconds after the claim happen</a> <a title="Best's Review - March 2018 Edition page 58" href="http://viewer.zmags.com/publication/3316c028?page=58"> Internet of Things A New Reality The p</a> <a title="Best's Review - March 2018 Edition page 59" href="http://viewer.zmags.com/publication/3316c028?page=59"> over the data, companies collecting the informati</a> <a title="Best's Review - March 2018 Edition page 60" href="http://viewer.zmags.com/publication/3316c028?page=60"> Internet of Things The closer companies get to t</a> <a title="Best's Review - March 2018 Edition page 61" href="http://viewer.zmags.com/publication/3316c028?page=61"> So far the insurance industry has remained largel</a> <a title="Best's Review - March 2018 Edition page 62" href="http://viewer.zmags.com/publication/3316c028?page=62"> Internet of Things Insurers are altering the way</a> <a title="Best's Review - March 2018 Edition page 63" href="http://viewer.zmags.com/publication/3316c028?page=63"> Internet of Things Strategic Moves by John Weber</a> <a title="Best's Review - March 2018 Edition page 64" href="http://viewer.zmags.com/publication/3316c028?page=64"> Creating a Cybersecurity Program Internet of Thi</a> <a title="Best's Review - March 2018 Edition page 65" href="http://viewer.zmags.com/publication/3316c028?page=65"> Making the Plan J oe Yetto, president of TAG Sol</a> <a title="Best's Review - March 2018 Edition page 66" href="http://viewer.zmags.com/publication/3316c028?page=66"> (Continued from page 62) Internet of Things Wha</a> <a title="Best's Review - March 2018 Edition page 67" href="http://viewer.zmags.com/publication/3316c028?page=67"> Insurance Careers Insurance leaders from around </a> <a title="Best's Review - March 2018 Edition page 68" href="http://viewer.zmags.com/publication/3316c028?page=68"> Insurance Careers Take My Advice… Industry leade</a> <a title="Best's Review - March 2018 Edition page 69" href="http://viewer.zmags.com/publication/3316c028?page=69"> Seize the e the Opportunities “A s a new i</a> <a title="Best's Review - March 2018 Edition page 70" href="http://viewer.zmags.com/publication/3316c028?page=70"> Insurance Careers A Different Perspective Hamilt</a> <a title="Best's Review - March 2018 Edition page 71" href="http://viewer.zmags.com/publication/3316c028?page=71"> Finding a Purpose Marsh's CEO talks about how the</a> <a title="Best's Review - March 2018 Edition page 72" href="http://viewer.zmags.com/publication/3316c028?page=72"> Insurance Careers Feeling Included Lloyd's Beale</a> <a title="Best's Review - March 2018 Edition page 73" href="http://viewer.zmags.com/publication/3316c028?page=73"> Planning for Tomorrow AIG's top executive talks t</a> <a title="Best's Review - March 2018 Edition page 74" href="http://viewer.zmags.com/publication/3316c028?page=74"> Insurance Careers What makes it a great story to</a> <a title="Best's Review - March 2018 Edition page 75" href="http://viewer.zmags.com/publication/3316c028?page=75"> Are You Getting the Insurance Data You Need? Loss</a> <a title="Best's Review - March 2018 Edition page 76" href="http://viewer.zmags.com/publication/3316c028?page=76"> Auto Insurance Taking the Reins NJM Insurance G</a> <a title="Best's Review - March 2018 Edition page 77" href="http://viewer.zmags.com/publication/3316c028?page=77"> What A.M. Best Says Best's Market Segment Report</a> <a title="Best's Review - March 2018 Edition page 78" href="http://viewer.zmags.com/publication/3316c028?page=78"> Exhibit 2 U.S. Directors & Officers Liability ௅ S</a> <a title="Best's Review - March 2018 Edition page 79" href="http://viewer.zmags.com/publication/3316c028?page=79"> Exhibit 3 U.S. Directors & Officers Liability ௅ D</a> <a title="Best's Review - March 2018 Edition page 80" href="http://viewer.zmags.com/publication/3316c028?page=80"> Department Implications for Federal Court System</a> <a title="Best's Review - March 2018 Edition page 81" href="http://viewer.zmags.com/publication/3316c028?page=81"> Exhibit 6 U.S. Professional Liability Lines – Net</a> <a title="Best's Review - March 2018 Edition page 82" href="http://viewer.zmags.com/publication/3316c028?page=82"> Best's Credit Rating Actions Department T </a> <a title="Best's Review - March 2018 Edition page 83" href="http://viewer.zmags.com/publication/3316c028?page=83"> Rating Action Business Type Company Name/ Ultim</a> <a title="Best's Review - March 2018 Edition page 84" href="http://viewer.zmags.com/publication/3316c028?page=84"> BEST'S FINANCIAL STRENGTH RATING GUIDE – (FSR) A </a> <a title="Best's Review - March 2018 Edition page 85" href="http://viewer.zmags.com/publication/3316c028?page=85"> BEST'S ISSUER CREDIT RATING GUIDE – (ICR) A Best'</a> <a title="Best's Review - March 2018 Edition page 86" href="http://viewer.zmags.com/publication/3316c028?page=86"> Industry Updates Lloyd's to Push Ahead to Requir</a> <a title="Best's Review - March 2018 Edition page 87" href="http://viewer.zmags.com/publication/3316c028?page=87"> Plug into Best's State Rate Filings® </a> <a title="Best's Review - March 2018 Edition page 88" href="http://viewer.zmags.com/publication/3316c028?page=88"> Best's Insurance Professionals and Claims Resourc</a> <a title="Best's Review - March 2018 Edition page 89" href="http://viewer.zmags.com/publication/3316c028?page=89"> Coming in May 2018 Carriers, wholesale distribut</a> <a title="Best's Review - March 2018 Edition page 90" href="http://viewer.zmags.com/publication/3316c028?page=90"> The Last Word Department Chatting It Up Chatbot</a> <a title="Best's Review - March 2018 Edition page 91" href="http://viewer.zmags.com/publication/3316c028?page=91"> Management & Professional Liability Protection Ev</a> <a title="Best's Review - March 2018 Edition page 92" href="http://viewer.zmags.com/publication/3316c028?page=92"> Expect big things in workers' compensation. Most </a>