Market News

Hylant Partners with CloudCover To Launch Cyber Rent-a-Captive Program

February 16, 2023

Hylant has partnered with cyber safety and security platform CloudCover to create a cyber-security rent-a-captive insurance program known as the "CloudCover CyberCell." Hylant said the partnership will allow clients to benefit from more affordable cyber-insurance premiums and more inclusive coverage. Read More

Hard Market for Property Reinsurance Seen Continuing through 2023

February 15, 2023

The hard market for short-tail reinsurance lines will likely continue through 2023, while casualty reinsurance pricing remains firm, though price increases have moderated in the United States, according to a report from S&P Global Ratings. S&P indicated it is maintaining its negative view on the global reinsurance sector. Read More

Changing Market Dynamics Raise Questions for US D&O Insurers

February 15, 2023

The US directors and officers (D&O) market is seeing changing dynamics that raise the question of whether D&O insurers can sustain their recent more favorable results given less aggressive pricing in the face of high social inflation and inflationary economic pressures, according to A.M. Best. Read More

US Property-Casualty Industry's Combined Ratio Deteriorated in 2022

February 14, 2023

The US property-casualty insurance industry is expected to post a 105.8 percent combined ratio for 2022, 6.3 percentage points worse than the industry 2021 combined ratio, according to underwriting projections from the Insurance Information Institute and Milliman. Growth and replacement costs will remain challenging well into 2023 and 2024. Read More

Global InsurTech Funding Dropped in 2022 for First Time Since 2016

February 13, 2023

Global InsurTech funding fell during last year's fourth quarter to its lowest level since the first quarter of 2020, according to the fourth quarter 2022 "Gallagher Re Global InsurTech Report." Last year was the first year to see an overall drop in InsurTech investment since 2016, Gallagher Re says. Read More