Market News

Oklahoma Licensed 11 New Captive Insurance Companies in 2022

February 24, 2023

Oklahoma licensed 11 new captive insurance companies in 2022, increasing the domicile's total number of captives to 52. Oklahoma captive regulators expect the pace of new captive formations to remain strong in 2023. Read More

Commercial Property Passed Cyber for Largest Premium Increases in Q4

February 23, 2023

While commercial insurance premium increases continued to show signs of moderation during the fourth quarter of 2022, increases did continue for the 21st consecutive quarter, according to the Council of Insurance Agents & Brokers' "Commercial Property/Casualty Market Index." Fourth-quarter premium increases averaged 8.0 percent. Read More

Guernsey Licensed 12 New Captives in 2022, Bringing Total to 201

February 22, 2023

Guernsey finished 2022 with 201 captive insurance companies domiciled on the island, making it Europe's largest captive domicile, according to Guernsey Finance. Guernsey issued 12 new captive licenses last year while 3 were surrendered, breaking a tie with Luxembourg as the largest European domicile, Guernsey Finance said. Read More

Hard Market Trends Decelerated in 2022, Though Challenges Remain

February 20, 2023

The insurance market's hard market trends continued to decelerate in 2022, with new capacity arriving either through new market entrants or expanded insurer appetites in areas targeted for growth, according to a new report from Aon. The report notes that modest price increases continued in the fourth quarter. Read More

Employees Must Be Better Educated To Spot Fraudulent Cyber Tactics

February 17, 2023

Cyber security will see a significant evolution in 2023, with organizations needing to get smarter about educating employees to spot fraudulent tactics, according to Beazley. In its latest “Cyber Services Snapshot,” Beazley noted that cyber losses as a result of fraudulent instruction increased 13 percent year over year in 2022. Read More