Market News

AXA XL has partnered with contract intelligence platform Document Crunch to launch a contract review benchmarking service to help AXA XL's contractor clients improve their contract management and negotiation practices. The new service uses industry data on key contract terms to provide best practices and benchmarking comparisons. Read More

Independent insurance company manager Strategic Risk Solutions (SRS) has partnered with investment firm Integrum Holdings LP to enhance the services SRS can deliver to the captive insurance and alternative risk markets. Integrum focuses on partnering with technology-enabled services companies in the financial and business services sectors. Read More

Email-based fraudulent instruction schemes are one of the most prevalent schemes affecting businesses today, and crime and cyber-insurance policies are the most common sources of recovery for most businesses affected by such schemes, according to Lockton. Businesses must understand what is and isn't covered under the two policies. Read More

Oklahoma licensed 11 new captive insurance companies in 2022, increasing the domicile's total number of captives to 52. Oklahoma captive regulators expect the pace of new captive formations to remain strong in 2023. Read More

While commercial insurance premium increases continued to show signs of moderation during the fourth quarter of 2022, increases did continue for the 21st consecutive quarter, according to the Council of Insurance Agents & Brokers' "Commercial Property/Casualty Market Index." Fourth-quarter premium increases averaged 8.0 percent. Read More