Market News

The International Association of Insurance Supervisors (IAIS) says it is monitoring developments and working with other standard-setting bodies to asses the impact of the COVID-19 pandemic on the global insurance sector. The IAIS stressed the importance of the insurance industry to provide protection against the heightened uncertainties created by the pandemic. Read More

Though intangible assets are becoming an ever-growing part of many companies' value, there are significant disconnects between the way many organizations approach coverage of their tangible and intangible assets. Addressing those growing exposures could be a function of parametric coverage designs, new technology, and captive insurance structures. Read More

The Federation of European Risk Management Associations (FERMA) has launched a task force to create proposals for addressing business interruption coverage for catastrophic risks that don't cause physical damage. The task force, which includes senior risk managers from FERMA members, plans to publish initial results by the end of May. Read More

Despite political and economic uncertainty, Risk Retention Group (RRG) remain financially stable and continue to maintain adequate loss reserves while increasing written premiums, according to an analysis of RRGs' 2019 financial results by Demotech Inc. RRGs were domiciled in 20 jurisdictions in 2019, according to Demotech. Read More

Total capital dedicated to the global reinsurance industry grew 15 percent year-on-year in 2019, standing at $605 billion at the end of the year. Much of that capital growth has likely unwound thus far in 2020, however, due to the steep sell-off in the stock and corporate bond markets. Read More