Market News
Medical Professional Liability Insurers Face Challenging Environment
The medical professional liability (MPL) insurance segment experienced negative returns and a decline in policyholders' surplus in 2022 despite improved underwriting results and positive net income, according to A.M. Best. Best said the MPL segment's performance was attributable primarily to unrealized losses resulting from volatility in the capital markets. Read More
Despite Cyber-Insurance Market Challenges, Number of Buyers Grows
Cyber-insurance price increases moderated for the fifth consecutive quarter during the first 3 months of 2023, rising 11 percent on average in the United States, compared to 28 percent during the fourth quarter of 2022, according to Marsh. Meanwhile, the number of cyber-insurance buyers continues to grow. Read More
Inflation, Reinsurance Challenges Drive Q1 Insurance Price Increases
Ongoing inflation and a highly challenging reinsurance market were among the factors combining to drive insurance prices up during the first quarter, according to a new report from Aon. Insurers faced the most delayed, complex, and difficult treaty reinsurance renewals in decades at January 1, Aon says. Read More
Increased Economic Risks Highlight Importance of ERM Programs
Growth in economic risks, the increased severity and frequency of weather events, and the growing impact of social inflation underscore the need for enterprise risk management (ERM) processes to evolve with insurance companies' risk profiles, according to A.M. Best. Read More
Lloyd's Names Transformation Director To Lead Blueprint Two Adoption
Lloyd's of London has appointed Matt Unsworth transformation director to lead market adoption of Lloyd's new Blueprint Two solutions. Working with Lloyd's joint venture partners, technology providers, and market associations, Mr. Unsworth will seek to ensure that the market is ready to make needed changes. Read More