Market News
As Risks Evolve and Increase, Protection Gaps Pose a Major Challenge
As the world experiences uncertain times that bring higher levels of risks, organizations and individuals are experiencing protection gaps that represent a major challenge to well-being and economic security, a new report suggests. The gaps across four key areas represent approximately 3 percent of global gross domestic product. Read More
All Commercial Lines Saw Year-over-Year Premium Increases in February 2023
All commercial insurance lines experienced year-over-year increases in average premium renewal rate in February 2023, according to the "Ivans Index," a regular premium renewal rate index compiled by the Ivans insurance exchange service. Business owners policy and commercial property continued to post the highest premium renewal rate increases. Read More
Insurance Price Increases Continued in Q4, Though at a Slower Pace
US commercial insurance prices continued to increase in the fourth quarter of 2022, though the pace of those increases slowed from the prior quarter, according to Willis Towers Watson (WTW). WTW's Commercial Lines Insurance Pricing Survey found that commercial insurance prices increased 4.8 percent during 2022's final quarter. Read More
US Property-Casualty Reinsurers Reported Premium Growth in 2022
A group of US property-casualty reinsurers wrote $81.0 billion of net premiums during the 12 months ending December 31, 2022, according to the Reinsurance Association of America (RAA). The 2022 premiums were up from $74.6 billion written in 2021, the RAA said. Read More
5 Ways Group Captives Help Members Foster a Culture of Safety
In group captive insurance, members' ability to create a safe workplace is pivotal in lowering their total cost of risk. The foundation of a safe workplace is a culture of safety that ultimately drives superior loss performance. Read More