Market News
Market Analysis Sees Increased Rate Hardening over Next 2 Years
With the global insurance industry facing a variety of pressures, rate hardening will gain momentum in 2023 and 2024, according to the Swiss Re Institute. Read More
Insurance Premiums Increased for 20th Consecutive Quarter in Q3
Commercial insurance premiums increased an average of 8.1 percent across all account sizes during this year's third quarter, according to the "Q3 P/C Market Survey" from the Council of Insurance Agents & Brokers (CIAB). Increases in the second quarter averaged 7.1 percent, according to the CIAB. Read More
Insider Threats Growing as a Factor in Cyber-Attack Incidents
Insider threats are rising to new levels as a percentage of cyber incidents, perhaps as a function of a highly fluid labor market and economic uncertainty. According to Kroll, LLC, this year's third quarter saw insider threats reach their highest quarterly level to date. Read More
Report Suggests Hurricane Ian Ended Decelerating Property Rate Trend
Hurricane Ian "effectively ended" the decelerating rate trend seen in the commercial property insurance market during the first half of this year, according to a third-quarter market analysis from broker Woodruff Sawyer. The commercial casualty segment was largely unchanged in the third quarter from the prior 3 months. Read More
Captives May Play an Important Part in Meeting Parents' ESG Goals
Captive insurance companies' potential role in addressing environmental, social, and governance (ESG) issues is an untapped opportunity, a new report suggests. The Aon report, "Using a Captive Insurance Company To Drive Positive ESG Outcomes," suggests that captives are a "natural nexus" between global financial systems and the broader economy. Read More