Market News
AM Best Seeks Comments on Update to Its ART Criteria Procedure
AM Best is requesting comments from industry participants on a draft update to its "Alternative Risk Transfer (ART)" criteria procedure. The main proposed update establishes a clear approach to assigning Financial Strength Ratings and Issuer Credit Ratings to individual incorporated cell entities. Read More
Analysis Shows Stable Cyber-Insurance Market, Continued Premium Growth
Cyber-insurance premiums will likely increase 15 percent to 20 percent per year to a total of approximately $23 billion by the end of 2026, according to a new report from S&P Global Ratings. Total cyber-insurance premiums stood at about $14 billion at the end of 2023, S&P said. Read More
Catastrophe Bond Market on Pace To Set New Issuance Record in 2024
Including deals in the pipeline for the remainder of this year, the catastrophe bond market is on pace to set a record for new issuance in 2024, according to data from the Artemis Deal Directory. Artemis's data suggests this year will see approximately $16.54 billion in primary catastrophe bond issuance. Read More
Premium Hikes Eased but Continued for 28th Consecutive Quarter in Q3
Commercial insurance premium increases continued to moderate during the third quarter of 2024, according to the Council of Insurance Agents & Brokers' (CIAB) latest Commercial Property-Casualty Market Index report. Still, the period was the 28th consecutive quarter the CIAB survey revealed premium increases across all account sizes. Read More
80 Percent of Risk Leaders Doubt Resilience to Emerging Risks by 2034
A WTW survey reveals 80 percent of risk leaders doubt their organizations' resilience to emerging risks by 2034, citing technology, climate change, and geopolitical concerns as key challenges. The findings emphasize the need for robust frameworks to address interconnected risks and enhance preparedness amidst accelerating global change. Read More