Market News
Survey Finds Many Organizations Overlooking Impact of Emerging Risks
Despite widespread agreement among many large and midsized organizations about the threats posed by a variety of emerging risks, the vast majority of those organizations continue to overlook those risks' potential impact on their businesses, according to Marsh. That conclusion is found in the inaugural "Marsh Risk Resilience Report." Read More
Increasing Cyber Losses Could Lead Insurers To Rethink Strategies
Growth in cyber-insurance premiums has been outpaced by an even greater increase in claims, A.M. Best notes in a new commentary, with many cyber insurers now recognizing the significant risk in the coverage line. The increase in ransomware attacks could lead cyber insurers to rethink their cyber-insurance strategies. Read More
US Property-Casualty Reinsurer Net Premiums Grew during First Quarter
A group of 17 US property-casualty reinsurers wrote $17.9 billion in net premiums during the first quarter of 2021, up from $16.5 billion during the same period in 2020, according to a survey of the reinsurers' statutory underwriting results conducted by the Reinsurance Association of America. Read More
Umbrella, Cyber Lines Particularly Challenged during First Quarter
Commercial insurance premiums continued to increase during the first quarter of 2021, according to results from the Council of Insurance Agents & Brokers first-quarter 2021 Commercial Property/Casualty Market Index. Despite the increases, there were further signs that the COVID-19 pandemic's impact on existing market conditions has eased. Read More
Property-Casualty Forecast Calls for Modest 2021 Underwriting Profit
Property-casualty insurers are expected to post modest underwriting profits in 2021, according to a new forecast from the Insurance Information Institute (Triple-I) and Milliman. The forecast calls for the industry to realize a combined ratio of 99 percent this year, nearly the same as in 2020. Read More