Market News
Uncertainty, Catastrophe Losses Likely To Harden Markets into 2022
Hardening in the reinsurance market will likely continue through 2022, as reinsurers respond to heightened uncertainty from social inflation, catastrophe losses, and claims related to the COVID-19 pandemic, according to a recent report from Swiss Re Institute. Tighter capacity is largely the result of reinsurers’ reduced risk appetite. Read More
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