Market News

Don't miss the August issue of "Captive Insurance Company Reports" ("CICR"), in which David Provost, who is set to retire as deputy commissioner of the Vermont Department of Financial Regulation and head of the department's Captive Insurance Division, discusses his time in captive insurance, the Vermont domicile, and the current state and future of the captive insurance industry. Read More

While the commercial insurance industry weathered the COVID-19 pandemic successfully, the pandemic amplified certain industry vulnerabilities, a new report suggests. According to the report from the Council of Insurance Agents & Brokers and Ernst and Young LLP, the pandemic put pressure on insurers and intermediaries to innovate and adapt. Read More

The US captive insurance segment continued to generate profits and increase surplus during 2021 while outperforming commercial market peers, according to A.M. Best. Best said that US captives that it rates reported a strong year, with pretax operating income of $1.0 billion, down slightly from $1.1 billion in 2021. Read More

Global insurance prices increased 9 percent during this year's second quarter, with the pace of rate increases slowing for the sixth consecutive quarter, according to the latest "Marsh Global Insurance Market Index." Still, the second quarter was the 19th consecutive quarter in which composite insurance pricing increased. Read More

Cyber insurance is the fastest- growing segment of the insurance market, but many insurers and reinsurers are increasingly unwilling to underwrite larger cyber risks, according to S&P Global Ratings. Much of the growth in the cyber-insurance market is in fact being driven by a substantial increase in cyber-insurance premiums. Read More