Market News

Nearly all US insurance industry businesses anticipate maintaining or increasing their employee head count over the next 12 months, even as recruiting challenges persist, according to a labor market survey. The study, by the Jacobson Group and Aon, found that 95 percent of survey respondents plan to increase or maintain head counts. Read More

Businesses are increasingly worried about their ability to meet ransomware demands, with many hoping for government assistance in the case of state-sponsored cyber attacks, a recent survey revealed. According to the BlackBerry cyber insurance coverage study, only 19 percent of businesses surveyed have ransomware coverage limits above $600,000. Read More

Dedicated reinsurance capacity increased to $568 billion in 2021, though that capacity growth might not continue, according to A.M. Best. Last year's growth in reinsurance capacity was driven by an increase of nearly 11 percent from traditional reinsurance capacity providers. Read More

In a recent market bulletin, Lloyd's of London has set out requirements for state-backed cyber-attack exclusions in stand-alone cyber-risk insurance policies. The bulletin said that it's important that Lloyd's has confidence that syndicates are managing their exposures to liabilities arising from war and state-backed cyber attacks. Read More

Captive insurance can help the healthcare industry address the threats to its profitability and viability posed by a chaotic insurance market. Since the 1970s, healthcare providers have turned to captives to address unexpected liability claims and large increases in the cost of commercial insurance. Read More