Market News
Global InsurTech Funding Recovered Somewhat in Second Quarter
Global InsurTech funding experienced a recovery during this year's second quarter, increasing 8 percent over the prior quarter to reach a total of $2.41 billion, according to the second-quarter 2022 "Gallagher Re Global InsurTech Report." The second quarter's growth was an improvement from the 58.0 percent first-quarter drop. Learn More
David Provost Reflects on Career, Captives in August "CICR"
Don't miss the August issue of "Captive Insurance Company Reports" ("CICR"), in which David Provost, who is set to retire as deputy commissioner of the Vermont Department of Financial Regulation and head of the department's Captive Insurance Division, discusses his time in captive insurance, the Vermont domicile, and the current state and future of the captive insurance industry. Learn More
Pandemic Hastened Insurance Innovation, Amplified Vulnerabilities
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
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
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
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
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