Market News
Vermont-Domiciled Sponsored Captive Offers Stop-Loss Supplement
A Vermont-domiciled sponsored captive, RxPharmacy Assurance, is offering a stop-loss supplement intended to help self-funded employers manage high-cost specialty drug risk. RxPharmacy Assurance enables self-funded employers of all sizes to access a supplemental stop-loss product at affordable rates to protect against unexpected and potentially catastrophic specialty drug claims. Read More
Poll Shows Most Risk Professionals Expecting Hard Market through 2022
Most risk professionals have little hope for a softening of the commercial insurance market during 2022, with the majority seeing any significant change not coming until 2023 or later, a recent survey showed. Some 61 percent of respondents to a recent poll expect the market to soften in 2023 or 2024. Read More
Concert Group Completes $100 Million Capital Raising, Earns A- Rating
Concert Group Holdings, Inc., a newly formed business dedicated to insurance fronting that includes Concert Insurance Company, has completed its targeted capital raising and received an A- (Excellent) rating from A.M. Best. Concert has secured $100 million in capital to fund its growth. Read More
Most Commercial Lines See Third-Quarter Premium Increases
Nearly all major commercial insurance lines experienced increases in average premium renewal rate during this year's third quarter, according to the IVANS Index, a regular premium renewal rate index compiled by the IVANS insurance exchange service. Read More
Hardening Reinsurance Market Seen Continuing in Europe into 2022
Reinsurance price increases are likely to continue in Europe at January renewals as reinsurers respond to a number of recent major losses and inflation, according to Munich Re. Munich Re noted that this year's most serious losses were in connection with the floods that struck Central Europe in mid-July. Read More