Market News

Risk Retention Groups' Premiums Saw Sharp Growth in 2021: Report

June 28, 2022

Risk retention groups' (RRGs') premium volume increased significantly in 2021, according to the Risk Retention Reporter. RRGs' gross premiums rose to just over $4.34 billion last year, a nearly 13.6 percent increase from 2020, when RRGs generated close to $3.84 billion in gross premiums, the publication reported. Read More

Climate Change, Technology, Other Sources Pose Host of Emerging Risks

June 27, 2022

Crypto assets and quantum computing are creating new risks in the global financial system, while climate change is producing an entirely new set of emerging risks, according to a new report. The latest Swiss Re SONAR report examines a variety of emerging risks across technological, economic, social, and environmental areas. Read More

Fitch Maintains Neutral Midyear Outlook for Most Insurance Sectors

June 24, 2022

Fitch Ratings says its neutral midyear outlooks for the vast majority of insurance sectors and regions reflect steady fundamentals across most markets despite the evolving bearish economic climate. Non-life insurers can potentially mitigate some inflation pressures through repricing and investment earnings as interest rates rise, the rating agency said. Read More

New APCIA Paper Outlines Cyber and Data Security Best Practices

June 23, 2022

The American Property Casualty Insurance Association (APCIA) and its Cyber Insurance Subcommittee have developed a paper outlining cyber-security and data-security best practices for businesses. Among the cyber-security best practices highlighted in the paper, "Cybersecurity and Data Security Best Practices," are steps such as multi-factor authentication. Read More

After 3 Years, Some Commercial Lines See Rate Increases Slowing

June 22, 2022

After 3 years of significant rate increases, the commercial insurance market is moving toward rate adequacy, with rate increases decreasing slightly, a new report suggests. The trend in every coverage line isn't equal, however, according to the "Gallagher 2022 Spring/Summer Insurance Market Report" from Arthur J. Gallagher & Co. Read More