Market News
Premium Increases Continued Across Most Commercial Lines in Q2
Premium renewal rates increased year over year for most commercial insurance lines during the second quarter of 2022, according to the "Ivans Index," a regular premium renewal rate index compiled by the Ivans insurance exchange service. The only exception was workers compensation, which saw a year-over-year decrease in premium renewal rates. Read More
Global Premiums To Top $7 Trillion, Though Economic Risks Persist
Global insurance premiums will top $7 trillion for the first time this year, as the market continues to recover from the COVID-19 pandemic, rates for non-life lines continue to harden, and emerging markets demonstrate strong premium growth, Swiss Re says in a new report. Read More
Study Finds Work Remains To Be Done in Many Organizations' ERM Efforts
While organizations continue to make progress in implementing enterprise risk management (ERM) processes, more than two-thirds of those surveyed for a new study indicate they still don't have "complete ERM in place." Large organizations and public companies are more likely to report that they have a complete ERM process. Read More
Canadian Broker NFP Forms Captive Management Company in Alberta
NFP, a major Canadian property-casualty insurance broker, has set up a new captive management company, NFP Captive Management Corp., in Alberta and boosted its Complex Risk Solutions Group unit to help NFP form and administer Alberta-based captives. Legislation passed in 2021 allows the formation of captives in Alberta. Read More
Connecticut Crumbling Foundations Captive Earns "A" Demotech Rating
Connecticut Foundation Solutions Indemnity Company, Inc., the captive insurance company providing financial assistance to homeowners affected by the state’s crumbling foundations disaster, has received a Financial Stability Rating of A, Exceptional, from independent insurance company rating agency Demotech, Inc. Read More