Market News
What Directors and Officers Are Prioritizing in Cyber Risk for 2025
Willis' 2025 Global Cyber, Directors and Officers Survey highlights key cyber risks, insurance practices, and oversight trends. Boards and CEOs remain central to strategy, while preparedness and standalone cyber coverage are on the rise. The report underscores the evolving role of leadership in managing cyber threats and insurance decisions. Read More
Connecticut's Crumbling Foundations Captive Enters Final Phase
The Connecticut Foundation Solutions Indemnity Company, Connecticut's captive insurer for crumbling foundations, has replaced over 1,100 foundations and plans to conclude operations by 2031. With more than $172 million paid in claims, it seeks a final $100 million in funding to address remaining homeowners affected by pyrrhotite-related foundation failures. Read More
Verisk's Q1 2025 Property Report Highlights Declining Claims Volume and Rising Costs
Verisk's first-quarter 2025 Property Report highlights a decline in claims volume alongside a sharp rise in replacement costs, primarily from California wildfires. Reconstruction, labor, and material costs increased across North America. The report also notes impacts from tariffs, immigration policies, and weakening builder confidence heading into the remainder of 2025. Read More
Gallagher Re's 1st View: July 2025 Renewal Sees Competitive Market Shift
Gallagher Re's "1st View: Challenging the Status Quo" highlights a more competitive reinsurance market at the July 2025 renewal. Buyers saw property rate reductions and stable casualty pricing, with reinsurers in strong financial shape and seeking to deploy capital while maintaining discipline across segments and geographies. Read More
US Property-Casualty Turnaround Highlights Strong Commercial Lines Gains
The US property-casualty industry reported a $22 billion underwriting gain in 2024, reversing the prior year's loss. While personal auto drove much of the turnaround, commercial lines—including property, workers compensation, and liability—also performed well, according to AM Best's latest report on the sector's financial results. Read More