US property and casualty insurers continue to face substantial underwriting losses on commercial automobile insurance, according to Fitch Ratings. The segment is poised for a ninth consecutive year of underwriting losses in 2019, with only moderate results improvement anticipated.
September 20, 2019
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IVANS announced its August 2019 results showing an uptick in premium renewal rate change across nearly all of the commercial lines products except business owners policy, which experienced a slight negative change.
September 20, 2019
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A new Marsh report found that a majority of board members and senior executives responsible for their organizations' cyber-risk management had less than a day in the last year to spend focused on cyber-risk issues.
September 19, 2019
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International Risk Management Institute, Inc. (IRMI), recently launched "Agribusiness Risk and Insurance" ("ARI"), a comprehensive online reference for risk management and insurance professionals that provides unbiased analysis of agribusiness exposures and best practices for agribusiness risk management and insurance programs.
September 18, 2019
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The Connecticut Bond Commission is set to approve this September's $20 million bond allotment for the Connecticut Foundation Solutions Indemnity Company, Inc., crumbling foundations captive. The $20 million allotment will allow the captive to resume its previously suspended operations, albeit on a limited basis.
September 17, 2019
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Captive manager Artex Risk Solutions has disclosed that several key executives have left the company. Executives Karl Huish, Jeremy Huish, and Berri Walker left Artex at the end of August.
September 16, 2019
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The National Association of Insurance Commissioners (NAIC) and the American Property Casualty Insurance Association (APCIA) take issue with the International Association of Insurance Supervisors' (IAIS) draft of an insurance capital standard (ICS).
September 13, 2019
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The North Carolina Captive Insurance Association (NCCIA) recently announced two changes for its 2020 annual conference.
September 13, 2019
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The abundance of capital in the reinsurance market has impacted the entire reinsurance value chain, has increased cost sensitivity, and is requiring reinsurers to find new ways of creating value for primary insurers, according to Swiss Re.
September 12, 2019
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US commercial insurance prices increased by nearly 4 percent in the second quarter of 2019 compared to prices charged during the second quarter of 2018, according to Willis Towers Watson's latest "Commercial Lines Insurance Pricing Survey."
September 10, 2019
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Today's world economy is less resilient than in 2007, according to the Swiss Re Institute and the London School of Economics. They posit that insurers could boost global financial resilience by closing a record-high $1.2 trillion composite protection gap for 3 areas of risk: natural catastrophes, mortality, and healthcare spending.
September 09, 2019
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Total capital dedicated to the global reinsurance industry was $559 billion midyear 2019, according to Willis Re's latest "Reinsurance Market Report." Fitch Ratings also reports a stable 2020 outlook for the global reinsurance sector.
September 06, 2019
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Fitch Ratings reported that higher investment income and modestly weaker calendar-year underwriting margins kept operating performance for North American property and casualty (P&C) insurers steady during the first half of 2019.
September 06, 2019
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Insurance brokerage and risk management firm Risk Strategies has acquired Risk Management Advisors (RMA) to bolster the firm's expertise in captive insurance, self-insurance, and other alternatives to traditional insurance.
September 05, 2019
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According to Willis Re, the insurance sector is considerably less concerned about silent cyber exposures than it was in 2018. The finding applies to all commercial lines of business and industry groups.
September 05, 2019
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Swiss Re and Capsicum Re have launched a new cyber reinsurance solution called Decrypt, which includes embedded, silent, and affirmative cyber risks.
September 05, 2019
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Join Management Services International (MSI) for a complimentary captive insurance webinar titled "You Own an Insurance Company, Now What?" that will take place Thursday, September 12 , 2019. Back by popular demand, the 60-minute course begins at 2:00 p.m. (EST) and will be hosted by Jeremy Colombik.
September 04, 2019
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The global reinsurance market as a whole has exhibited more underwriting control as evidenced by a holding back of capacity at the midyear 2019 renewals; however, questions remain over the sustainability of this newfound discipline, according to AM Best.
September 04, 2019
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Creators of the senior care AssureCap Advantage underwriting program launched a little over a year ago report achievement of major advances in senior care quality improvement and loss reduction.
September 03, 2019
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According to A.M. Best, the US property-casualty industry's net underwriting income declined by 9.6 percent to $4.8 billion in the first half of 2019, compared with $5.3 billion in the same prior-year period.
September 03, 2019
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