Market News
Reinsurer Capacity Increased in January
January 1 renewals indicate that reinsurance capacity increased in a responsive market, according to Guy Carpenter. Read More
Captive Growth Continues in Vermont
Vermont licensed 38 new captive insurance companies in 2023, its 9th-highest year of growth. Read More
Social, Economic Inflation Increased Liability Market Pressure in Q3
While the commercial insurance market's behavior was largely unchanged during the third quarter from the prior quarter, the accumulating effects of social and economic inflation added pressure to insurers' liability reserves and pricing, according to Lockton. Lockton reported that lead umbrella rates increased 12 percent during the third quarter. Read More
Business Leaders Enter 2024 Wary of Climate, Cyber Risks
The impacts of climate change and cyber risks are at the forefront of business leaders' risk concerns as 2024 begins, according to Beazley. Beazley's research found 28 percent of global business leaders surveyed predicting that climate change will be the biggest environmental risk they face in 2024. Read More
Best Maintains Industry Asbestos and Environmental Loss Estimates
A.M. Best is maintaining its estimate for ultimate net asbestos losses at $100 billion, with environmental losses also holding steady at $46 billion, according to a new report based on year-end 2022 data. Best said the industry has funded 95 percent of its aggregate asbestos and environmental exposures. Read More