Market News
Understanding Cyber Criminals' Motives Key to Addressing Cyber Risks
Cyber-criminals fall into different categories with varying motivations that must be understood and considered in underwriting cyber risks, a new report suggests. The report from cyber-risk analytics firm CyberCube suggests that there are three main types of cyber-threat actors: state-sponsored, criminal gangs, and hacktivists. Read More
While US Property-Casualty Premiums Grow, Some Lines Remain Challenged
Despite posting 9 percent premium growth in 2021, US property-casualty insurers still face challenges in several lines of business, A.M. Best says in a new report. The rating agency noted that despite the premium gains, the US property-casualty insurance industry still experienced a $3 billion underwriting loss in 2021. Read More
Risk Retention Groups' Premiums Increase during First Quarter of 2022
Risk retention groups (RRGs) saw increases in premium volume in the first quarter of 2022, according to a newly released analysis by Demotech, Inc. In all, RRGs reported $2.1 billion of direct written premiums in the first quarter of 2022, up 7.9 percent over the first quarter of 2021. Read More
Premium Increases Continued Across Most Commercial Lines in May
Year over year, nearly all lines of commercial insurance business except workers compensation experienced increases in average premium renewal rate in May, according to the IVANS Index, a regular premium renewal rate index compiled by the IVANS insurance exchange service. Read More
Strong Underwriting Results Aside, Reinsurers Face Potential Headwinds
Reinsurers continued to turn in strong underwriting results during the first quarter of 2022, though they are running into headwinds affecting their overall results, according to two new reports. Inflation, rising interest rates, the Russia-Ukraine conflict, and the COVID-19 pandemic pose potential challenges. Read More