Market News
Rate Increases To Continue Across Several Reinsurance Lines in 2022
Reinsurance rates for catastrophe-related lines of business are expected to increase by more than 10 percent at January renewals, according to Fitch Ratings. Fitch said it also expects lines including cyber risk and directors and officers liability reinsurance coverage to experience double-digit rate increases in 2022. Read More
Rate Increases Continued for Nearly All Commercial Lines in November
Year over year, all lines of commercial insurance business except workers compensation experienced an increase in average premium renewal rates in November, according to the "IVANS Index," a regular premium renewal rate index compiled by the IVANS insurance exchange service. Read More
Survey Finds Insurers Embracing the Potential of Advanced Analytics
The use of advanced analytics across various aspects of their operations is an important part of North American property-casualty insurers' strategies, according to Willis Towers Watson (WTW). Insurers' interest in analytics is most notable in pricing, underwriting, and claims, WTW found in its "2021 P&C Insurance Advanced Analytics Survey." Read More
December "CICR" Reflects on In-Person CICA Event
Don't miss the December issue of "Captive Insurance Company Reports" ("CICR"), in which Dan Towle, president of the Captive Insurance Companies Association (CICA), recaps CICA's recent in-person Fall Forum. Read More
Alberta Becomes Second Canadian Province To Allow Captive Insurance
Alberta lawmakers have given final approval to legislation to allow the formation of captive insurance companies in the Canadian province. Alberta government officials earlier said that the legislation is needed to help businesses get insurance coverage at a lower cost compared to the traditional market. Read More