Market News

Nearly All Commercial Insurance Lines Saw Premium Increases in January

February 10, 2023

Year over year, all lines of commercial insurance except workers compensation experienced increases in their premium renewal rate in January 2023, according to the "Ivans Index," a regular premium renewal rate index. Business owners policy and commercial property continued to see the highest premium renewal rate increases year over year. Read More

Hawaii Added 4 Captive Insurance Companies to Its Total in 2022

February 9, 2023

The number of captive insurance companies in Hawaii hit 255 at the end of 2022, up from 251 in 2021, the Hawaii Department of Commerce and Consumer Affairs, Insurance Division, Captive Branch reported in a new fact sheet. Of those 255 captives, 214 captive owners were in the United States. Read More

Recent Cyber-Risk ILS Deals May Lead to Expanded Reinsurance Capacity

February 9, 2023

Two recent insurance-linked securities (ILS) deals that saw (re)insurers transferring cyber risk to the capital markets demonstrate potential for a broader source of reinsurance for cyber exposures, according to Fitch Ratings. Fitch said the two recent cyber-risk ILS deals—by Beazley and Hannover Re—together transferred $145 million of cyber risk. Read More

Expecting Continued Cell Captive Growth, Innovation

February 8, 2023

Cell captives provide a simple, affordable approach for organizations considering using alternative risk financing strategies to address risks that may be costly or difficult to insure. A cell captive gives owners a strategic risk management tool that can be implemented in much less time than a single-parent captive. Read More

District of Columbia Licensed 25 Captive Insurance Companies in 2022

February 7, 2023

The District of Columbia licensed 25 new captive insurance companies in 2022, boosting the domicile's total number of captives to 191. District of Columbia captive regulators said they expect new captive formations will continue to be strong in 2023. Read More