Market News
P&C Industry Forecast To Post 102.2 Percent Combined Ratio in 2023
The overall property and casualty (P&C) insurance industry is projected to finish 2023 with a net combined ratio of 102.2 percent, little changed from last year's 102.4 percent, according to a report from the Insurance Information Institute and Milliman. Poor personal lines underwriting performance is a key factor in both years' results. Read More
Premium Increases Continued Across Most Commercial Lines in July
Nearly all commercial insurance lines experienced year-over-year increases in premium renewal rates in July, according to the "Ivans Index," a regular premium renewal rate index compiled by the Ivans insurance exchange service. Only workers compensation saw a year-over-year premium renewal rate decrease. Read More
Texas Budget Includes Appropriation for a Captive Insurance Specialist
The 2024–2025 biennium budget recently approved by the Texas Legislature and signed into law by Governor Greg Abbott includes an appropriation directing the Texas Department of Insurance (TDI) to retain a captive insurance specialist. The measure was the subject of a special lobbying initiative by the Texas Captive Insurance Association. Read More
Global Commercial Insurance Prices Increased 3 Percent in Q2
Global commercial insurance prices increased 3 percent in this year's second quarter, compared to a 4 percent increase during the first quarter, according to the Marsh Global Insurance Market Index. The second-quarter increase marked the 23rd consecutive quarter in which composite commercial insurance prices increased. Read More
Podcast Examines How Captives Weather Insurance Market Cycles
The latest IRMI Podcast on the International Risk Management Institute's (IRMI) and Captive.com's Captive Podcasts pages features Matthew Queen, owner of The Queen Firm, LLC, discussing how to use captive insurance to manage insurance market cycles. Mr. Queen is the author of Modern Captive Insurance. Read More