Market News
Survey Finds US Commercial Insurance Price Increases Continued in Q2
US commercial insurance prices increased again during the second quarter of this year by an aggregate rate of 6 percent compared to the same quarter in 2021, according to Willis Towers Watson's "Commercial Lines Insurance Pricing Survey" (CLIPS). Cyber insurance experienced the largest price increase during the quarter. Read More
Captives Enhance the Value of Professional and Trade Associations
Increasingly, all sorts of associations have discovered that one of the most valuable benefits they can provide involves developing a captive insurance company. As association members plead for insurance program help, association leaders are creating captive insurance programs designed to meet their members' unique needs. Read More
Rating Agency Maintains Neutral Outlook for Global Reinsurance Sector
Fitch Ratings is maintaining its "neutral" outlook for the global reinsurance sector, saying it doesn't expect the economic slowdown to significantly affect demand for most reinsurance business. Fitch said it also expects the reinsurance sector's underlying profitability to remain broadly stable in 2022 and 2023. Read More
Nearly All Commercial Lines Saw Premium Increases Again in August
All commercial insurance lines except workers compensation experienced year-over-year increases in average premium renewal rate in August, according to the IVANS Index. Businessowners policy (BOP) and commercial property continue to see the highest premium renewal rate increases year over year, IVANS reported. Read More
Surplus Lines Insurers Wrote Record $82.6 Billion in Premiums in 2021
Total US surplus lines direct premiums written reached a record $82.6 billion in 2021, according to a new report from A.M. Best. The surplus lines industry’s momentum has continued thus far in 2022, the rating agency said. It was the US surplus lines market's largest year-over-year premium growth since 2003. Read More