Market News
Survey Finds Most US Employers Won't Require Employee Vaccinations
While US employers continue to encourage employees to get the COVID-19 vaccination, most don't plan to require employees to be vaccinated, according to a recent survey by Willis Towers Watson (WTW). WTW found that 72 percent of the employers said they will not or do not plan to require vaccination. Read More
Customer Data Theft a Growing Threat to US Health Insurance Industry
The theft of customer data by cyber criminals is a growing threat to US health insurers and the related third parties with which they do business, according to Fitch Ratings. But the possession of that data makes insurers a popular target for phishing, ransomware, or man-in-the-middle attacks, Fitch said. Read More
Vermont Captive Insurance Leaders Meet with British Delegation
Vermont captive insurance leaders met recently with a group of British government representatives to discuss captive insurance. The meeting with Peter Abbott, Her Majesty's Counsel General, and members of his team took place earlier this month at the British Consulate-General Boston. Read More
Michael Maglaras & Company Secures Additional Captive Financing
Captive organizational and consulting firm Michael Maglaras & Company has secured another $100 million of financing from the State of Connecticut to support Connecticut Foundation Solutions Indemnity Company, Inc. (CFSIC). Michael Maglaras & Company formed CFSIC in 2018 at the request of the Connecticut state government. Read More
US Property-Casualty Insurers' Underwriting Results Improved in 2020
Despite the impact of the COVID-19 pandemic, the US property and casualty insurance industry's 2020 underwriting results showed sharp improvement, according to A.M. Best. Net underwriting income increased 30 percent in 2020 to $4.3 billion, Best said in a special report titled "P/C Snapshot: Statutory Underwriting Results for Full Year 2020." Read More