Market News
As ILS Market Hits Record Levels, Reinsurers Rely on ILS Capacity
Even as the catastrophe bond and insurance-linked securities (ILS) market sets issuance records, a new report suggests that reinsurers will increase their ILS use amid rising catastrophe losses. The report, from S&P Global Ratings, notes that approximately 15 percent of total reinsurance capital is currently raised through ILS issuance. Read More
Directors and Officers Price Increases Continue in Third Quarter
The average cost for $1 million in directors and officers (D&O) insurance limits increased 4.3 percent during this year's third quarter from the same quarter in 2020, according to Aon Commercial Risk Solutions. This year's July through September period was the 15th consecutive quarter of year-over-year D&O price increases. Read More
US Insurers Increasingly Include ESG Factors in Their Decision Making
Stakeholder expectations that US insurers consider environmental, social, and governance (ESG) factors are playing a growing role in their decision-making, according to A.M. Best. Still, compared with their peers in Europe, the US insurance industry is in the early stages of ESG integration, Best said. Read More
Cyber-Risk Awareness Growing, but Work Remains To Build Resilience
A new survey shows that risk professionals are increasingly aware of the growth of cyber risks and the need to manage them, though there remains room for improvement. The survey conducted by Zurich North America and Advisen Ltd. found that 83 percent of respondents purchase some level of cyber insurance. Read More
Captive Use Steady Globally, Though Some Regions See Dramatic Growth
Faced with volatile insurance market conditions, captive insurance remains a valuable tool for organizations looking to manage and finance risks. Globally, captive insurance use remains steady in 2021, according to Aon's 2021 Global Risk Management Survey, though there are some regions that have seen a significant uptick in captive use. Read More