Market News

Average premium renewal rates for nearly all commercial insurance lines continued to experience year-over-year increases in July, according to the "IVANS Index," a regular premium renewal rate index compiled by the IVANS insurance exchange service. Workers compensation was the only commercial insurance line not to experience year-over-year increases during the month. Read More

The state of Tennessee has created a captive insurance company, the Tennessee Captive Insurance Company, to create savings and efficiencies in insuring state property. The Tennessee Captive Insurance Company will initially issue only property and cyber liability policies, but the state may add other lines of coverage in the future. Read More

Global InsurTech funding experienced a recovery during this year's second quarter, increasing 8 percent over the prior quarter to reach a total of $2.41 billion, according to the second-quarter 2022 "Gallagher Re Global InsurTech Report." The second quarter's growth was an improvement from the 58.0 percent first-quarter drop. Read More

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