Market News

Prior to the onset of the COVID-19 pandemic in 2020, the insurance industry already faced numerous challenges. Now, according to a new report, those challenges have taken on greater urgency. Among those challenges are several factors hindering revenue growth, according to the report from McKinsey & Company. Read More

Delaware continues to enjoy strong captive growth, with the domicile licensing 70 new captive insurance companies in 2021, the same number of formations as in 2020. Delaware regulators indicated they expect that captive growth to be even greater this year. Read More

While A.M. Best is anticipating a 2021 underwriting loss for the US property-casualty insurance industry, the rating agency said insurers' solid risk-adjusted capitalization and persistent underwriting and pricing discipline allowed the industry to limit losses and generate surplus growth. Read More

Saying it expects partnerships between traditional insurance companies and InsurTechs to increase, Fitch Ratings said successful collaborations with InsurTechs could allow insurance companies to adopt the latest technology more quickly, reduce expenses, improve distribution, and enhance customer retention. Read More

While global digitalization and interconnectedness have increased dramatically as organizations responded to the COVID-19 pandemic, so have cyber risks, making it essential that organizations develop cyber resilience. As organizations confront cyber perils, however, there are significant cyber-security perception gaps between organizations' information security executive and their business executives. Read More