Market News
Questions Remain as Cyber-Insurance Market Grows, Matures
While cyber-insurance premiums and cyber-insurance demand are growing, a recent report notes that questions remain about the extent of some cyber risks, the growth of a cyber-protection gap, and insurers' own cyber-risk management efforts. The International Association of Insurance Supervisors report assesses the cyber-insurance market. Read More
Vermont Licensed 12 New Captives during 2023's First Quarter
Vermont, the largest captive insurance domicile in the United States and the world’s third largest, licensed 12 captive insurance companies during the first 3 months of 2023, according to statistics recently released by the Vermont Department of Financial Regulation. Read More
Nearly All Commercial Lines Saw Year-over-Year Premium Increases in Q1
Premium renewal rate changes for all major lines of commercial insurance except workers compensation were up year over year during the first quarter of 2023, according to the "Ivans Index," a regular premium renewal rate index compiled by the Ivans insurance exchange service. Read More
US Cyber-Insurance Market Poised for Favorable 2023 Results
The US cyber-insurance market is expected to continue to see premium growth and favorable underwriting results through 2023, though prices will likely continue to moderate this year in response to recent profits and competitive factors, according to Fitch Ratings. Read More
COVID-19 Pandemic Forced Insurer Innovation, but Progress Varies
Changes to the way we live and work forced by the COVID-19 pandemic spurred innovation across the insurance industry, though the degree to which individual insurers have innovated varies, according to A.M. Best. Today, more insurance companies are placing great importance on data quality to improve their efficiency and profitability. Read More