Market News
Analysis Finds 10 Claims Sources Responsible for 75 Percent of Losses
Approximately 75 percent of financial losses arise from the top 10 causes of loss, according to a recent analysis of global insurance claims. The "Global Claims Review 2022" from Allianz Global Corporate & Specialty said the top three causes are responsible for 45 percent of the loss value. Read More
KeyState Captive Management Moves into New Vermont Office
KeyState Captive Management, a major captive manager, has moved to a new office in Vermont. The company is now located at 30 Main Street in downtown Burlington. Currently, KeyState manages 8 Vermont-domiciled captives and a total of more than 100 captives in US domiciles. Read More
Premium Increases Continued Across Most Commercial Lines in Q2
Premium renewal rates increased year over year for most commercial insurance lines during the second quarter of 2022, according to the "Ivans Index," a regular premium renewal rate index compiled by the Ivans insurance exchange service. The only exception was workers compensation, which saw a year-over-year decrease in premium renewal rates. Read More
Global Premiums To Top $7 Trillion, Though Economic Risks Persist
Global insurance premiums will top $7 trillion for the first time this year, as the market continues to recover from the COVID-19 pandemic, rates for non-life lines continue to harden, and emerging markets demonstrate strong premium growth, Swiss Re says in a new report. Read More
Study Finds Work Remains To Be Done in Many Organizations' ERM Efforts
While organizations continue to make progress in implementing enterprise risk management (ERM) processes, more than two-thirds of those surveyed for a new study indicate they still don't have "complete ERM in place." Large organizations and public companies are more likely to report that they have a complete ERM process. Read More