Market News

Vermont Governor Phil Scott has signed legislation modernizing Vermont's captive insurance statute and removing inconsistencies. Among the updates to Vermont's captive insurance law included in this year's bill, H.515, is the ability for captive insurance companies to enter into parametric risk transfer contracts. Read More

Confidence among business leaders in their organization’s core cyber-risk management competencies today has not grown since before the COVID-19 pandemic, according to a recent report from Marsh and Microsoft. The report found that the level of confidence had actually declined slightly from 2019 to today. Read More

Commercial insurance premiums continued to increase during the first quarter of 2022, marking the 18th consecutive quarter of premium increases, according to the Council of Insurance Agents & Brokers' Commercial Property/Casualty Market Index. There were signs, however, that market conditions might have eased slightly during the quarter. Read More

A recent letter to the US Treasury responding to a request for comments on the federal Terrorism Risk Insurance Program (TRIP) makes the case for captive insurance while encouraging steps to expand participation by small and medium-sized businesses. The comments came from the Self-Insurance Institute of America, Inc. (SIIA). Read More

Connecticut lawmakers approved legislation earlier this month that lowers capital and surplus requirements for captive insurance companies but allows the state insurance commissioner to set a higher level of capital and surplus if it's considered necessary for a captive to meet its obligations. Read More