Market News
Cyber Attacks, Data Loss Seen as Top Risks for Directors and Officers
Cyber attacks and data loss are perceived as the top two risks facing companies' directors, according to the Eighth Directors' Liability Survey from Willis Towers Watson and Clyde & Co. Regulatory, health and safety/environmental prosecutions, and employment claims round out the top five risks. Read More
Despite Record Premiums, US D&O Insurers Post Underwriting Losses
A 67 percent cumulative increase in market premiums over the past 2 years hasn't been enough to prevent underwriting losses for US directors and officers (D&O) liability insurers, according to Fitch Ratings. Those underwriting losses are expected to continue over the near term, Fitch said. Read More
InsurTech Investment Set Quarterly Record during 2021's First Quarter
Global investment in InsurTech reached a record quarterly high of $2.55 billion during the first quarter of 2021, according to the new "Quarterly InsurTech Briefing" from Willis Towers Watson (WTW). The record InsurTech fundraising marks a continued rebound for the sector from a brief COVID-19 pandemic-related slowdown a year ago. Read More
Bermuda Launches Initiative To Become Climate Risk Finance Center
The Bermuda Business Development Agency, under the leadership of the Bermuda government and in collaboration with the private sector, has launched an initiative to establish the jurisdiction as the world’s climate risk finance capital. The initiative aims to make climate risk finance an additional leg in Bermuda's "economic stool." Read More
Market Remains Hard, But Report Sees Improvements in Coming Months
While the North American commercial property-casualty insurance market remains hard, buyers can expect improvements in the months ahead, according to Willis Towers Watson (WTW). Still, buyers are likely to continue facing upward pressure on pricing across most lines of business for the rest of 2021. Read More