Market News
Premiums Continued To Increase Across Most US Commercial Lines in May
Average premium renewal rates continued to increase year over year across nearly all commercial insurance lines in May 2021, according to the IVANS Index, a regular premium renewal rate index compiled by the IVANS insurance exchange service. Most lines experienced month-over-month premium renewal rate declines, however. Read More
Maglaras Firm Reaches $100 Million in New Senior Care Captive Premium
Healthcare liability captive organizational and consulting services firm Michael Maglaras & Company announced that it has created senior care liability captive premiums now totaling $100 million in annualized written premium. The traditional commercial market for continuum of care senior liability insurance coverage has been greatly reduced in the past year. Read More
Tennessee Governor Signs Legislation Revising State's Captive Law
Tennessee Gov. Bill Lee has signed legislation that will, among other things, reduce the capitalization and surplus requirements that protected cell captives must meet to start operations and will authorize parametric insurance coverage. Tennessee regulators and the state's captive insurance association strongly supported lowering the capital and surplus requirements. Read More
June CICR Focuses on Using Captives for Voluntary Benefits
Don't miss the June issue of Captive Insurance Company Reports (CICR), which focuses on another unique use case for a captive insurance company: voluntary benefits. Read More
Risk Retention Groups in 2021—Challenges and Opportunities
A January 2020 hearing on H.R. 4523, the Nonprofit Property Protection Act, a bill seeking a limited expansion of the Liability Risk Retention Act to allow a small subsector of risk retention groups to write property coverage, provided a lens into the challenges and opportunities facing the risk retention group industry. Read More