Market News
CICA Essay Contest Finalists To Present Solutions in March 31 Webinar
The three finalist teams in the Captive Insurance Companies Association’s (CICA) "Using Captive Insurance To Better Manage Risk, Improve Your Bottom Line" essay contest will present their captive solutions in a webinar at 1 p.m. (eastern) March 31. CICA's annual college student essay contest is sponsored by Strategic Risk Solutions. Read More
"COVID Trio" Exposures Speak to the Interconnectedness of Major Risks
Asked to identify the top risks they face, businesses' responses in a recent survey were shaped by the impacts of the COVID-19 pandemic. Ranking at the top of the most important global business risks for 2021 in this year's Allianz Risk Barometer are business interruption, pandemic outbreak, and cyber incidents. Read More
US Property-Casualty Reinsurers See Net Premiums Increase in 2020
A group of 17 US property-casualty reinsurers wrote $65.0 billion of net premiums during 2020, according to a survey of the reinsurers' statutory underwriting results conducted by the Reinsurance Association of America. The group's 2020 premiums were an increase from the $57.7 billion in net premiums written in 2019. Read More
Property-Casualty Insurance Industry Increases Profitability in 2020
Despite the impact of the COVID-19 pandemic, the US property-casualty insurance industry improved its overall profitability in 2020, according to A.M. Best. For the year, the industry experienced a 68 percent increase in net underwriting income and saw its combined ratio improve slightly compared with 2019, A.M. Best said. Read More
Cyber-Insurance Premiums Likely To See Hefty Increases through 2021
Cyber-insurance premiums could increase 20 to 50 percent through 2021 due to a combination of 2020 trends that are expected to continue through this year, according to an Aon report. Among the 2020 trends shaping the cyber-insurance market this year were increased claims frequency and severity. Read More