Market News

Pandemic Hastened Insurance Innovation, Amplified Vulnerabilities

August 8, 2022

While the commercial insurance industry weathered the COVID-19 pandemic successfully, the pandemic amplified certain industry vulnerabilities, a new report suggests. According to the report from the Council of Insurance Agents & Brokers and Ernst and Young LLP, the pandemic put pressure on insurers and intermediaries to innovate and adapt. Read More

US Captive Insurance Segment Continues To Outperform Commercial Market

August 5, 2022

The US captive insurance segment continued to generate profits and increase surplus during 2021 while outperforming commercial market peers, according to A.M. Best. Best said that US captives that it rates reported a strong year, with pretax operating income of $1.0 billion, down slightly from $1.1 billion in 2021. Read More

Global Insurance Price Increases Continued To Slow in Second Quarter

August 3, 2022

Global insurance prices increased 9 percent during this year's second quarter, with the pace of rate increases slowing for the sixth consecutive quarter, according to the latest "Marsh Global Insurance Market Index." Still, the second quarter was the 19th consecutive quarter in which composite insurance pricing increased. Read More

Mature Cyber-Insurance Market Needs Better Modeling, Policy Language

August 1, 2022

Cyber insurance is the fastest- growing segment of the insurance market, but many insurers and reinsurers are increasingly unwilling to underwrite larger cyber risks, according to S&P Global Ratings. Much of the growth in the cyber-insurance market is in fact being driven by a substantial increase in cyber-insurance premiums. Read More

Vermont Licensed 27 New Captives during First Half of 2022

July 29, 2022

As conditions continue to tighten in the traditional commercial insurance market, captive insurance formations are accelerating in Vermont, the largest US captive domicile. During the first 6 months of 2022, 27 new captives were licensed in Vermont, up from 23 during the same period in 2021. Read More