Market News
US Property and Casualty Industry Records Strong First-Half 2024 Gains
The US property and casualty industry posted a $3.8 billion underwriting gain in the first half of 2024, driven by improved personal lines results and increased investment income. Strong capital gains helped boost the industry's net income to $97.6 billion, reflecting a significant financial recovery from 2023's losses. Learn More
How Companies Can Maximize the Group Captive Experience
To fully benefit from group captive insurance, companies should control risk, engage with fellow members, and participate in the claims process. These steps improve safety practices, reduce claims costs, and enhance insurance outcomes. Find out more from Captive Resources about maximizing your group captive experience. Learn More
US Surplus Lines Premiums Exceed $100 Billion in 2023, Surpassing Milestone
US surplus lines premiums reached $115.6 billion in 2023, a 17.4 percent increase over the previous year. Growth was driven by climate risks, rising commercial lines prices, and new distribution partnerships. Lloyd's market saw the largest increase, while domestic surplus lines insurers improved their combined ratio to 90.0. Read More
FERMA Calls for Streamlined Cyber-Incident Reporting in New "Cyber Reporting Stack" Report
Federation of European Risk Management Associations’ (FERMA) "Cyber Reporting Stack" report urges the European Union (EU) to simplify cyber-incident reporting requirements, proposing a single point of entry for notifications and highlighting the need for insurance considerations. It offers guidance for risk managers navigating complex EU regulations like General Data Protection Regulation, Network and Information Security Directives, Digital Operational Resilience Act, and the upcoming Cyber Resilience Act. Read More
SCCIA Announces $20,000 Scholarship Gift to ICCIE for Captive Insurance Education
The South Carolina Captive Insurance Association (SCCIA) announced a $20,000 scholarship gift to the International Center for Captive Insurance Education (ICCIE). The scholarships aim to support individuals pursuing professional certifications in captive insurance. Read More
October "CICR" Explores Best Use of Captive Surplus Funds
Don't miss the October issue of "Captive Insurance Company Reports" ("CICR"), in which Anne Marie Towle, CEO at Hylant Global Risk and Captive Solutions, shares insights on using surplus balances in a well-managed captive insurance company to leverage the company's value and business objectives. Read More
2024 Q3 Insurance Outlook: Stable Rates with Focus on Risk Management
HUB International's Q3 2024 report forecasts stable insurance rates for most lines, with exceptions for high-risk areas and businesses with poor claims histories. The report emphasizes the importance of proactive risk management, recommending strategies like captive insurance and business interruption planning to mitigate potential disruptions from natural and man-made disasters. Read More