Market News
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
Fitch Ratings Maintains Stable Outlook for Bermuda Reinsurance Market
The Bermuda (re)insurance market is stable, as insurers and reinsurers benefit from a favorable pricing environment, according to Fitch Ratings. The favorable pricing environment saw Bermuda reinsurers experiencing solid premium growth in 2020, Fitch said, with net written premiums for the group increasing 8 percent. Read More
Rise of Digital Health Brings New Risk Exposures for Health Industry
The COVID-19 pandemic and the resulting increase in the use of digital health care is creating new risk issues in the healthcare industry. According to the Willis Towers Watson white paper, "The Future of Digital Health," the rise of digital health care will likely produce novel and unexpected risks. Read More
Most Commercial Lines Continued To See Premium Increases in February
Nearly all commercial insurance lines continued to see year-over-year premium rate increases in February 2021, according to the IVANS Index compiled by the IVANS insurance exchange service. Year over year, all lines of commercial insurance business experienced increases in the average premium renewal rate in February except workers compensation. Read More
Insurance-Linked Securities Issuance Hit Record $11.3 Billion in 2020
The insurance-linked securities (ILS) market experienced a record new issuance of $11.3 billion in 2020, a 106 percent increase from 2019, according to a new report from Swiss Re. The year's 49 ILS transactions also represented significant growth, more than double the number in 2019. Read More