Market News
Insurer Warns Businesses of Risk of Increased Civil Unrest
Businesses around the world should prepare for an increase in civil unrest as a cost-of-living crisis follows on the heels of the COVID-19 pandemic, according to Allianz Global Corporate & Specialty (AGCS). AGCS noted that social media in conjunction with political polarization is fueling protest movements. Read More
Number of Newly Impaired US Insurers Grew in 2021: A.M. Best
The number of US-domiciled insurers rated by A.M. Best that became impaired increased to nine in 2021 from two in 2020, according to the rating agency. The information is from the 19th annual update on the long-term impairment rates of US-domiciled insurers rated by A.M. Best. Read More
Inflationary Trends Having an Impact on Property Insurance Costs
With general inflation at a 40-year high, inflation on goods and services related to property insurance is up 10 to 20 percent over the past year, according to a report from Aon. The Aon report says that material costs and labor shortages have increased costs for all types of building. Read More
Risk Retention Groups' Premiums Saw Sharp Growth in 2021: Report
Risk retention groups' (RRGs') premium volume increased significantly in 2021, according to the Risk Retention Reporter. RRGs' gross premiums rose to just over $4.34 billion last year, a nearly 13.6 percent increase from 2020, when RRGs generated close to $3.84 billion in gross premiums, the publication reported. Read More
Climate Change, Technology, Other Sources Pose Host of Emerging Risks
Crypto assets and quantum computing are creating new risks in the global financial system, while climate change is producing an entirely new set of emerging risks, according to a new report. The latest Swiss Re SONAR report examines a variety of emerging risks across technological, economic, social, and environmental areas. Read More