Market News
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
Newly Formed Fronting Insurer Raises Additional Capital from Founders
Concert Group Holdings, Inc., a newly formed fronting insurer, has reached an agreement to raise additional capital from its founders, Brady Young, CEO and founder of Strategic Risk Solutions, Inc.; Wes Duesenberg Jr., CEO of Southern Insurance Underwriters; and Christopher Collins, CEO and founder of Corinthian Re. Read More
New Cyber Regulations a Plus but Not a Complete Solution to the Risk
Evolving US cyber legislation and regulations are a positive step in addressing cyber risks but by themselves aren't likely to eliminate cyber attacks, which are expected to increase in size, volume, and sophistication around the world, according to Fitch Ratings. Read More
Pandemic's Impact, Catastrophes Made for Turbulent 2020 for Insurers
Property-casualty insurers experienced a turbulent year in 2020 marked by the global COVID-19 pandemic that disrupted economic activity and a historic catastrophe season that caused nearly $62 billion in insured losses, according to a report from Verisk and the American Property Casualty Insurance Association. Read More
Lloyd's, London Market Insurers Partner with Technology Provider
Lloyd's and London market insurance companies have partnered with DXC Technology to support the goals set out in the Future at Lloyd's Blueprint Two to build the world's most advanced digital and technology-led insurance marketplace. The arrangement followed months of discussions, product development, and early solution workshops. Read More