Industry News

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January Release of "Risk Financing" Focuses on Loss Development

The latest release of "Risk Financing" features updates to the loss development factors payout profiles for general liability and automobile liability as well as the latest Willis Towers Watson Claims Cost Indexes. Access the sought-after Appendix F of "Risk Financing" to offset uncertainty in your self-insured program today!
January 11, 2019 Read More
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Captive Insurers Finding New Footholds

When we remember 2018, its events and circumstances have been more varied and challenging than one might imagine, according to Joe Herbers and Rob Walling of Pinnacle Actuarial. Read the latest from Pinnacle on the year in review, take a look ahead, and find out where captive insurers are finding new footholds.
January 10, 2019 Read More
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Erroneous Application of Facts: Capstone Releases Reserve Commentary

Capstone Associated Services Ltd. recently released its fourth commentary, "The Tax Court's Erroneous Application of Avrahami to Reserve," surrounding the June 18, 2018, small insurance company Tax Court case, Reserve Mech. Corp. v. Commissioner.
January 09, 2019 Read More
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A.M. Best: ILS and Captive Insurance Growing in Asian Market

A.M. Best recently reported that Asia is poised to become a significant growth opportunity for the insurance-linked securities (ILS) market and also confirmed that captive insurance and foreign ownership of insurance companies in China are both emerging growth areas for Asia.
January 08, 2019 Read More
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Fitch: ACA Ruling Effect on Insurance Uncertain

According to Fitch Ratings, the ultimate effect on the health insurance industry of December's federal court ruling that deemed the Affordable Care Act (ACA) unconstitutional is unclear, and what is expected to be a lengthy appeals process will follow.
January 07, 2019 Read More
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Lloyd's "Transforms" through Electronic Placement Target Mandates

Lloyd's will require each syndicate to write no less than 40 percent of its risks using a "recognized electronic placement system" for the first quarter of 2019, increasing to 50 percent for the second quarter of 2019.
January 04, 2019 Read More
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January "CICR" Brings Expert Commentary on Midterm Elections

Don't miss the January issue of "Captive Insurance Company Reports" ("CICR"), which brings you commentary on captives in view of the midterm elections and the coming year. Captive insurance leaders and thinkers provide their viewpoints on how recent changes in the makeup of the US government might impact captive insurance.
January 03, 2019 Read More
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January Reinsurance Renewal Pricing Remains Stable

Both JLT Re and Willis Re recently released analyses outlining reinsurance pricing at the January 1, 2019, renewal. The organizations found that, on the whole, renewal pricing remained stable despite building pressures on the reinsurance market.
January 03, 2019 Read More
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Rising Medical Costs Threaten Workers Compensation Profitability

The US workers compensation segment continued its positive performance in 2017, boosted by another year of growing payrolls that helped offset rate decreases and overall soft market conditions. While lost-time claims frequency continues to decline, claims severity continues to rise due to a host of factors.
January 02, 2019 Read More
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Compre Set To Complete Generali Legacy Transaction

Independent re/insurance legacy specialist Compre is approved to acquire two portfolios from Assicurazioni Generali S.p.A. (Generali) in an undertaking intended to provide legal finality for the legacy liabilities held by Generali's UK branch.
January 02, 2019 Read More
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BMA Releases Two Reports on Alternative Capital and Captives

The Bermuda Monetary Authority (BMA) has released two new reports. These include the BMA's first annual "BMA Alternative Capital Report 2018" and its second annual "BMA Captive Report 2018."
December 21, 2018 Read More
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Policy Selection: Capstone Releases Third "Reserve Mechanical" Commentary

Capstone Associated Services Ltd. has released its third commentary, "How the Tax Court Rewrote the Standards for Insurance Policy Selection," where it examines the issues involving insurance policy selection and related issues raised in the June 18, 2018, small insurance company Tax Court case "Reserve Mech. Corp. v. Commissioner."
December 21, 2018 Read More
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Marriott Breach Losses Estimated Up to $600 Million According to AIR

AIR Worldwide (AIR) has projected the direct cyber-incident losses for the recent Marriott breach will be between $200 million and $600 million.
December 20, 2018 Read More
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EPIC Set To Acquire Integro USA

EPIC Holdings, Inc., announced that it will acquire Integro Holdings, Inc., which houses substantially all of the US operations of Integro Group Holdings, LP. Financial terms of the proposed transaction have not been disclosed.
December 19, 2018 Read More
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Marsh Reveals Further Leadership Appointments

Marsh has revealed appointments for key leaders for its regional, specialty, and placement teams worldwide to be effective upon closing of the transaction between Marsh & McLennan Companies and JLT Group, subject to certain approvals.
December 19, 2018 Read More
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Guernsey Spells Out ILS Collateral Rules for ILS Cells

The Guernsey Financial Services Commission, a Guernsey regulator, has clarified the collateral rules surrounding the authorization process for insurance-linked securities (ILS) cells.
December 18, 2018 Read More
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Swiss Re: Global Insured Loss Estimates Reflect Sigma's Fourth Highest

Swiss Re's latest preliminary sigma estimates found that total economic losses from natural and man-made catastrophes in 2018 declined to $155 billion from $350 billion in 2017. Findings also showed that estimated global insured losses are currently around $79 billion, higher than the annual average for the previous 10 years.
December 18, 2018 Read More
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EIOPA "Stress Test" Finds European Insurers Adequately Capitalized

The "2018 Insurance Stress Test Report" on the European insurance sector was recently released by the European Insurance and Occupational Pensions Authority (EIOPA). The results revealed that, on aggregate, the sector is adequately capitalized to absorb the test's prescribed shocks.
December 17, 2018 Read More
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831(b) Captive Owners File Lawsuit Against Gallagher and Artex

Arthur J. Gallagher & Co. and its captive management unit, Artex Risk Solutions Inc., are being sued by a group of small employers alleging they have had to pay back taxes and other penalties to the Internal Revenue Service, involving their participation in 831(b) captives.
December 14, 2018 Read More
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IVANS: Commercial Lines Renewal Rates Reflect Variable Changes

IVANS has announced the "IVANS Index: Premium Renewal Rate Index" November results. For the first time this year, rate changes are split evenly, with an uptick in premium renewal rate across businessowners policy, commercial property, and umbrella, while commercial auto, general liability, and workers compensation experienced a downward shift.
December 14, 2018 Read More