Market News
Concert Group Completes $100 Million Capital Raising, Earns A- Rating
Concert Group Holdings, Inc., a newly formed business dedicated to insurance fronting that includes Concert Insurance Company, has completed its targeted capital raising and received an A- (Excellent) rating from A.M. Best. Concert has secured $100 million in capital to fund its growth. Read More
Most Commercial Lines See Third-Quarter Premium Increases
Nearly all major commercial insurance lines experienced increases in average premium renewal rate during this year's third quarter, according to the IVANS Index, a regular premium renewal rate index compiled by the IVANS insurance exchange service. Read More
Hardening Reinsurance Market Seen Continuing in Europe into 2022
Reinsurance price increases are likely to continue in Europe at January renewals as reinsurers respond to a number of recent major losses and inflation, according to Munich Re. Munich Re noted that this year's most serious losses were in connection with the floods that struck Central Europe in mid-July. Read More
Report Suggests Reinsurers Are Key to Future Cyber-Insurance Market
While the cyber-insurance market has been challenged by cyber-attack losses, the reinsurance market could hold the key to a viable cyber-insurance market, according to S&P Global Ratings. As cyber attacks have increased and the awareness of cyber risks has grown, so has the demand for cyber insurance. Read More
US Employer Medical Costs Expected To Increase 5 Percent in 2022
Large US employers will see costs they pay for employee medical care increase an average of 5 percent in 2022 to more than $13,000 per employee, according to Aon plc. The cost increase would be slightly less than what employers budgeted this year compared to 2020, Aon said. Read More