Market News

Premium Increases Continue Across Most Major Lines in Fourth Quarter

January 22, 2021

Commercial insurance premium renewal rates were up across most major coverage lines in 2020's fourth quarter, according to the January IVANS Index, a premium renewal rate index compiled by the IVANS insurance exchange service. The fourth quarter saw increases across general liability, commercial property, umbrella, and workers compensation. Read More

Vermont Licenses 38 Captives in 2020 as Hard Market Drives Formations

January 21, 2021

Vermont licensed 38 new captive insurance companies in 2020, bringing the state's total number of licensed captives to 589. A fourth quarter that saw 11 new licenses contributed significantly to Vermont's new captive formations in 2020. Read More

Hawaii Adds to Captive Total, Licensing 21 New Captive Insurers in 2020

January 20, 2021

Captive growth continued in Hawaii in 2020 as the state licensed 21 new captive insurance companies during the year. After the dissolution of 9 captives, the new formations brought Hawaii's captive total to 242, making the state one of the largest US captive domiciles. Read More

Reinsurance Market Continued Hardening in January: Fitch Ratings

January 19, 2021

In its review of January reinsurance renewals, Fitch Ratings found that the reinsurance market continued hardening as pandemic-related claims, high natural catastrophe losses, and pressure on liability lines of business led to widespread price increases that often went beyond claims inflation. Read More

Lloyd's Forming Protected Cell Company To Ease Investor Access

January 19, 2021

Lloyd's of London has obtained regulatory approval to form a new protected cell company (PCC) intended to make it easier for investors to gain access to the Lloyd's market. The independently owned and managed London Bridge Risk PCC Limited was formed under the United Kingdom's PCC legislation. Read More