Industry News

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Transactional Risk Insurance Firmly Established

In its latest "Transactional Risk Insurance Report," Marsh said use of transactional risk insurance significantly increased in 2018. Policy limits in excess of $1 billion are now available for single transactions as private equity firms and strategic investors increasingly use insurance to reduce the risks associated with mergers and acquisitions.
July 12, 2019 Read More
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New Malpractice Research Probes Misdiagnosis and Serious Patient Harm

According to new research, 1-in-3 malpractice cases involving serious patient harm is due to misdiagnosis, with cancer, vascular events, and infection accounting for three-fourths of high-harm, diagnosis-related claims.
July 12, 2019 Read More
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MSI Releases New Podcast, "Captive for Dummies: Syzygy… What Went Wrong?"

Management Services International (MSI) has just released its latest podcast, titled "Captive for Dummies: Syzygy… What Went Wrong?," which is immediately available free of charge at the MSI podcast library. 
July 11, 2019 Read More
  NCCIA Communications Chairman- 2019-SF

North Carolina Captive Conference Targets All Experience Levels recently spoke with Scott Bailey, communications chair with the North Carolina Captive Insurance Association (NCCIA), to discuss the annual conference, scheduled for August 21–23, 2019, at the Ballantyne Hotel in Charlotte, North Carolina. Hear from Mr. Bailey about the North Carolina captive domicile and the upcoming conference, hosted by the NCCIA.
July 10, 2019 Read More
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Global Insurance Premiums Exceed $5 Trillion for the First Time

Global insurance premiums passed the $5 trillion mark for the first time in 2018, equivalent to more than 6 percent of world gross domestic product, according to the latest Swiss Re sigma study, "World insurance: the great pivot east continues."
July 09, 2019 Read More
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New "Risk Financing" Update Focuses on Deductibles and Collateralization

Is your organization looking for self-insurance qualifications for automobile liability, insights into small deductible plans and large deductible plans, or information on considerations for collateralization of risk financing plans? Look no further. Access "Risk Financing" for this information and more.
July 08, 2019 Read More
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The Latest Reinsurance Renewals Bring "Tangible Pricing Momentum"

According to the latest "Willis Re 1st View: A Discerning Market" report, the June and July reinsurance renewal period has witnessed tangible pricing momentum and some tightening in terms and conditions.
July 03, 2019 Read More
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Captive Innovators Enhancing Risk Management and Driving Change

Winners of the Strategic Risk Solutions, Inc. (SRS), 2019 Captivator Awards were recently announced and presented at the SRS Client Symposium in Chicago, Illinois. The awards recognize SRS client captives that have introduced innovative products or services to solve risk management challenges for their parent organization(s).
July 02, 2019 Read More
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NAIC 2018 Property-Casualty Insurer Market Share Data Show Growth

The National Association of Insurance Commissioners (NAIC) has released the complete 2018 "Market Share Reports for Property/Casualty Groups and Companies By State and Countrywide." This includes detailed information on market share and loss ratios for property-casualty companies by specific line of business for the top 125 groups and companies.
July 01, 2019 Read More
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Demotech Releases First Quarter 2019 Financial Analysis of RRGs

Demotech has released its "Analysis of Risk Retention Groups—First Quarter 2019," which reports on the overall financial performance of risk retention groups. The rating company's senior financial analyst, Douglas Powell, has concluded that risk retention groups "continue to collectively provide specialized coverage to their insureds while remaining financially stable."
June 28, 2019 Read More
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NAIC Paves the Way for Covered Agreement Implementation

The National Association of Insurance Commissioners has approved revisions to the Credit for Reinsurance Model Law and Regulation. The changes pave the way for implementation of covered agreements with the European Union and United Kingdom by making the models consistent with provisions of the covered agreements concerning reinsurance collateral requirements.
June 27, 2019 Read More
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US Property and Casualty Industry's Net Income Increased 69 Percent

The year-end 2018 statutory filings for the US property-casualty industry showed a year-over-year 69 percent increase in net income to $59.2 billion in 2019, owing to lower losses from catastrophic events, favorable development of prior years' loss reserves, and higher net investment income.
June 27, 2019 Read More
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Key Industry Leaders Will Support Future Lloyd's Strategy

Lloyd's has formed global and London advisory committees to support its strategy toward "nimbler and faster [offerings] … supported by technology, innovation, and flexible, responsive capital." Members of the advisory committees include global insurance industry heavyweights.
June 26, 2019 Read More
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July "CICR" Examines Keys To Women's Success in the Captive Industry

Don't miss the July issue of "Captive Insurance Company Reports" ("CICR"), where Anne Marie Towle of Marsh Captive Solutions discusses keys to the success of women in the captive insurance industry.
June 25, 2019 Read More
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IRMI Partners with Leading InsurTech Provider

International Risk Management Institute, Inc. (IRMI), has announced a partnership with Zywave, a leading InsurTech provider.
June 24, 2019 Read More
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AIG Consolidates Assumed Reinsurance Operations To Form AIG Re

American International Group, Inc. (AIG), has formed AIG Re to consolidate its reinsurance operations into one global business. AIG has appointed Christopher Schaper as CEO of AIG Re.
June 21, 2019 Read More
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US Cyber Insurance Market Tops $2 Billion, Doubling over 4 Years

Direct premiums written in the US cyber insurance market have more than doubled over a 4-year span, from $996 million in 2015 to $2 billion in 2018.
June 20, 2019 Read More
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ICCIE Scholarship Deadline Approaching

Scholarships for programs of study with the International Center for Captive Insurance Education (ICCIE) include Harry House Captive Insurance Scholarships and the Vermont Captive Insurance Association (VCIA) Distinguished Scholar Award. The application deadline for all scholarships is June 30, 2019. Award recipients will be announced in August during VCIA's annual conference.
June 17, 2019 Read More
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Vermont's Insurance Regulatory Sandbox

Governor Phil Scott signed legislation on June 10 to enable InsurTech experimentation and innovation in Vermont. Among other things, the insurance and securities bill (S. 131) creates an InsurTech "sandbox," which will allow more research and development in this area with specific guidelines.
June 14, 2019 Read More

Cyber Risk Premium Volume in Captives Jumping Up

While only a small percentage of employers use their captive insurance companies to cover their cyber risks, the premiums flowing into captives to fund the coverage is soaring, according to a new analysis.
June 14, 2019 Read More