Market News
COVID-19 Stress Test Finds Most Insurers' Capital Levels Adequate
Stress testing gauging the COVID-19 pandemic's impact on insurance companies' financial strength found most insurers' capital levels provide an adequate buffer against potential balance sheet shocks. A.M. Best analyzed approximately 1,400 rated insurers worldwide, focusing on the impact of COVID-19 on insurers' underwriting and assets. Read More
New Triple-I Initiative Offers Resource on Insurance and Pandemic
The Insurance Information Institute (Triple I) has launched an initiative providing an educational resource with regard to insurance and the COVID-19 pandemic. The Future of American Insurance & Reinsurance campaign will focus on ensuring the insurance industry can sustain its role contributing to economic growth and stability. Read More
Oklahoma Legislation Specifies Captive Premium Tax Distribution
Legislation approved by Oklahoma lawmakers and signed into law May 19 by Governor Kevin Stitt specifies how premium taxes paid by captive insurance companies must be allocated by the state insurance commissioner. Read More
Hard Market, Industry Disruptions Create Captive Opportunities
With a traditional insurance market that appears likely to continue hardening, and that market facing disruption from events like the COVID-19 pandemic and potential new competitors, there are opportunities for captive insurance companies. Changes in market rates are drivers of alternative risk transfer activities, including captive insurance companies. Read More
Actuaries Group Offers Guidance on Federal Pandemic Risk Backstop
The American Academy of Actuaries has suggested that existing US insurance backstop programs may provide insights into crafting a pandemic risk backstop. Those programs help the insurance marketplace provide coverage by capping the risk the market is expected to handle and providing a federal backstop for losses exceeding that cap. Read More