Market News
Year-over-Year Premium Increases Continued Across Most Lines in Q2
Premium renewal rate changes for nearly all commercial insurance lines were up year over year during the second quarter of 2023, according to the "Ivans Index" compiled by the Ivans insurance exchange service. Premium renewal rate changes increased year-over-year for all major commercial lines except workers compensation and umbrella. Read More
Vermont Captive Growth Continued in First Half with 22 New Licenses
Vermont, the largest US captive insurance domicile and the world's third largest, licensed 22 captives during the first 6 months of 2023. Of those 22 new captives, 15 are pure captives, 5 are sponsored captives, 1 is a risk retention group, and 1 is an association captive. Read More
United Educators Insurance Maintains A (Excellent) A.M. Best Rating
United Educators Insurance (UE), a Vermont-licensed risk retention group, has received an A (Excellent) financial strength rating for the 25th year from A.M. Best. Best said UE has a "very strong" balance sheet, adding that UE's business profile is good due to its leading market position and risk diversification. Read More
How Captives Support ESG Considerations
As environmental, social, and governance (ESG) initiatives become more common, captives are frequently playing a role in organizations' ESG efforts. Captives related to ESG initiatives provide an opportunity to take a fresh look at business operations, while improving management's ability to identify and manage risks. Read More
Workers Compensation Sector's Results Outpace Broader PC Industry
Workers compensation insurers' underwriting results continued to outpace those of the rest of the US commercial property-casualty insurance sector in 2022, according to A.M. Best. The rating agency noted that workers compensation insurers benefited from a long-term decline in workplace accidents and a reduction in fraudulent claims. Read More