Market News
Premium Increases Moderated Across Most Commercial Lines in Q1
Commercial insurance premiums increased for the 22nd consecutive quarter during this year's first quarter, though most lines saw price increases moderate, according to "The Council of Insurance Agents & Brokers' Quarterly P/C Market Survey." The first quarter survey showed an average premium increase of 8.8 percent across all account sizes. Read More
Workers Comp Continues To Be an Excellent Opportunity for Captives
Among the earliest widespread use of the captive insurance concept was an effort to improve control over workers compensation premiums. For many companies, managing the financial impacts of workers comp claims provides a satisfying and educational introduction to captives, leading to employing captives as a tool for other risks. Read More
Medical Professional Liability Insurers Face Challenging Environment
The medical professional liability (MPL) insurance segment experienced negative returns and a decline in policyholders' surplus in 2022 despite improved underwriting results and positive net income, according to A.M. Best. Best said the MPL segment's performance was attributable primarily to unrealized losses resulting from volatility in the capital markets. Read More
Despite Cyber-Insurance Market Challenges, Number of Buyers Grows
Cyber-insurance price increases moderated for the fifth consecutive quarter during the first 3 months of 2023, rising 11 percent on average in the United States, compared to 28 percent during the fourth quarter of 2022, according to Marsh. Meanwhile, the number of cyber-insurance buyers continues to grow. Read More
Inflation, Reinsurance Challenges Drive Q1 Insurance Price Increases
Ongoing inflation and a highly challenging reinsurance market were among the factors combining to drive insurance prices up during the first quarter, according to a new report from Aon. Insurers faced the most delayed, complex, and difficult treaty reinsurance renewals in decades at January 1, Aon says. Read More