Market News
District of Columbia Licensed 5 New Captives through February
The District of Columbia licensed 5 new captive insurance companies during the first 2 months of 2023, according to the Captive Insurance Council of the District of Columbia (CIC-DC). That follows considerable captive growth in the domicile in 2022 when 25 captives were licensed in the District of Columbia. Read More
Strong Performance Aside, Commercial Insurers Face an Inflection Point
Despite the disruptions caused by the COVID-19 pandemic, the Russia-Ukraine war, and the resulting supply chain disruptions, global commercial property-casualty lines have delivered strong financial performance in recent years, according to a new report from McKinsey & Company. Yet the insurers are at an inflection point, the report says. Read More
AXA XL Partners on Construction Contract Benchmarking Service
AXA XL has partnered with contract intelligence platform Document Crunch to launch a contract review benchmarking service to help AXA XL's contractor clients improve their contract management and negotiation practices. The new service uses industry data on key contract terms to provide best practices and benchmarking comparisons. Read More
Strategic Risk Solutions Partners with Investment Firm Integrum
Independent insurance company manager Strategic Risk Solutions (SRS) has partnered with investment firm Integrum Holdings LP to enhance the services SRS can deliver to the captive insurance and alternative risk markets. Integrum focuses on partnering with technology-enabled services companies in the financial and business services sectors. Read More
Crime, Cyber Policies Combine To Address Fraudulent Instruction Risk
Email-based fraudulent instruction schemes are one of the most prevalent schemes affecting businesses today, and crime and cyber-insurance policies are the most common sources of recovery for most businesses affected by such schemes, according to Lockton. Businesses must understand what is and isn't covered under the two policies. Read More