Market News
EIOPA Offers Proposed Public-Private Pandemic Resilience Solutions
The European Insurance and Occupational Pensions Authority (EIOPA) has presented a proposed public-private "shared resilience solution" for future pandemics. EIOPA's "Issues Paper on Shared Resilience Solutions for Pandemics" acknowledges that private insurance alone is unable to protect society against the financial consequences of future pandemics. Read More
For Offshore Captives, Economic Substance Is a Compliance Concern
For captive insurance companies located in offshore domiciles, abiding with economic substance requirements has become an important compliance consideration. The focus on economic substance is based on the Organization for Economic Co-Operation and Development Base Erosion and Profit Shifting project. Read More
August "CICR" Explores the "Next Normal"
Don't miss the August issue of "Captive Insurance Company Reports" ("CICR"), which discusses the importance of risk financing in a post-2020 risk management plan that will need to account for risks uninsurable in the traditional marketplace. Read More
Cyber Insurance Premiums Increase in 2019, Though Premium Growth Slows
Direct written premiums paid to US cyber insurers grew 11 percent year-over-year in 2019 to $2.25 billion, according to A.M. Best. Still, the rate of cyber insurance premium growth slowed for the fourth straight year. Read More
Insurers' Surplus Rebounds in Second Quarter, but Challenges Remain
After declining in the first quarter of the year due to the COVID-19 pandemic, property-casualty insurers' surplus is expected to rebound in the second quarter, according to Kroll Bond Rating Agency (KBRA). KBRA believes the industry can withstand a repeat of the first quarter's market decline and COVID-19 claims. Read More