Market News

Global commercial insurance prices increased 19 percent in this year's second quarter, according to Marsh's quarterly Global Insurance Market Index. It was the eleventh consecutive quarter of price increases, according to Marsh. The second-quarter increase was the largest since Marsh launched the index in 2012. Read More

All commercial insurance lines except workers compensation saw year-over-year increases in July, according to the IVANS Index, a premium renewal rate index compiled by IVANS insurance exchange service. Compared to July 2019, commercial auto, general liability, commercial property, businessowners policy, and umbrella coverages experienced premium renewal rate increases in July. Read More

An analysis of risk retention groups (RRGs) financial results from the first quarter of 2020 finds that RRGs have a great deal of financial stability and remain committed to maintaining adequate capital to handle losses. Demotech, Inc., said RRGs' first-quarter balance sheet ratios appear to be appropriate and conservative. Read More

The cyber risks confronting organizations continue to grow, and captive insurance companies are playing an increasing role in managing cyber exposures. The COVID-19 pandemic has increased cyber risks for many organizations as employees are forced to work remotely, making the need to address the exposure even more critical. Read More

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