Market News
North Carolina Senate Approves Redomestication Incentive Measure
The North Carolina Senate approved legislation that would give captive insurance companies licensed elsewhere an incentive to redomesticate to North Carolina. Captives that redomesticate to North Carolina before December 31, 2022, would be exempt from state premium taxes for the tax year in which they redomesticate and the following year. Read More
ILS Market Remains Strong as First-Quarter Issuance Exceeds Average
Unphased by the COVID-19 pandemic, the insurance-linked securities (ILS) market continued to thrive through the first quarter of 2021. While the quarter's new issuance might have fallen short of last year's record pace, new catastrophe bonds and related ILS issuance exceeded the 10-year average. Read More
As Market Hardens, Risk Retention Groups' Premiums Grew in 2020
Amid tightening conditions in the traditional insurance market, risk retention groups (RRGs) did more business last year, according to a new analysis. The analysis by Douglas A. Powell, senior financial analyst at Demotech Inc., found that RRGs wrote $3.8 billion in direct premiums in 2020, up 6.4 percent from 2019. Read More
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