Market News
Commercial Insurance Premiums Increased 8.1 Percent in Third Quarter
Commercial insurance premiums increased by an average of 8.1 percent during the third quarter of 2023, down from the 8.9 percent increase in the second quarter but the 24th consecutive quarter of premium increases, according to the Council of Insurance Agents & Brokers. Read More
Stop-Loss Insurance Continues To Grow as Employers Look To Contain Costs
Stop-loss insurers saw their premium volume increase to $31.6 billion in 2022, reflecting a growth rate of 13.4 percent from 2017 to 2022, according to the "Fall 2023 Stop Loss Market Update" from Guy Carpenter and Oliver Wyman. Read More
North Carolina Legislature Ends Session without Passing Captive Bill
The North Carolina General Assembly ended this year's session without passing legislation that would extend the state's premium tax holiday for captive insurance companies that redomesticate to the state as well as other improvements to the state's captive law. Read More
Best Maintains Its Stable Outlook for Global Reinsurance Sector
A.M. Best is maintaining its stable outlook for the global reinsurance sector, citing substantial rate improvement—largely in property lines—with higher attachment points expected to widen reinsurers' profit margins. The rating agency said its stable outlook is also driven by increased demand for reinsurance coverage and increasing investment income. Read More
Market Forecast Sees Current Conditions Likely To Persist in 2024
The hard property market conditions experienced in 2023 seem likely to persist in 2024, while the casualty market might see insurers looking to drive rate increases, a new report suggests. The "Insurance Marketplace Realities 2024" report from Willis Towers Watson suggests the outlook might be better in financial lines. Read More