Market News
US Cyber Insurers' Performance Improved in 2022 Amid Favorable Trends
US cyber insurers' performance improved in 2022, with cyber-insurance written premiums increasing 50 percent to $7.22 billion, while cyber insurers' loss ratio decreased 22 percentage points to 45 percent, according to a new report from Aon. Read More
Mapping the Journey to a Successful Captive
As they face higher insurance premiums and risks that could threaten their organizations, business leaders are increasingly considering captive insurance. But there's a tremendous educational component to evaluating the efficacy of a captive strategy, and even more industry exposure once a decision is made to proceed. Read More
NRRA Taking a Proactive Approach to Potential Florida RRG Legislation
The National Risk Retention Association (NRRA) is taking a proactive approach ahead of the next Florida legislative session in opposing legislation it says would discriminate against risk retention groups (RRGs). Florida legislators ended their 2023 session earlier this year without giving final approval to SB 516. Read More
CCRIF Offers Parametric Insurance for Caribbean Water Utilities
Water utilities in the Caribbean region can now purchase parametric insurance coverage through CCRIF SPC to protect them financially against such extreme weather events as hurricanes, tropical storms, and excess rainfall events. The Caribbean Water Utility Insurance Collective was established as a segregated portfolio (SP) within CCRIF. Read More
US Property-Casualty Underwriting Losses Persisted during First Half
Despite strong premium growth, the US property-casualty insurance industry continued to generate significant underwriting losses during the first half of 2023, according to Fitch Ratings. The rating agency said it expects the industry's results to improve during this year's second half as price increases continue to take hold. Read More