Market News
"IVANS Index" Provides First Quarter 2018 Results
IVANS has announced the results of 2018's first quarter "IVANS Index: Premium Renewal Rate Index." First-quarter results showed a positive uptick in the premium renewal rate change average across nearly all lines of commercial business with the exception of workers compensation. Read More
North Carolina Rooted in as a Leading Captive Insurance Domicile
Nearly 5 years after the passage of captive legislation, North Carolina is firmly established as a leading captive insurance company domicile. Since the North Carolina Captive Insurance Act was enacted in October 2013, the Department of Insurance has licensed 248 captive insurers and approved 437 cells and series. Read More
Quiet Renewals for Reinsurance Sector as April Pricing Remains Flat
Re/insurers saw the continuation of a broadly flat pricing environment in April with modest increases resulting from some underlying exposure growth. At the same time, C-suite decision makers are examining reinsurance to back earnings and capital management, with reinsurance seen as more valuable than it has been in recent years. Read More
Fitch: P&C Insurers' First Underwriting Loss in 6 Years
Property and casualty (P&C) re/insurers unsurprisingly endured a trying 2017 with a compilation of the latest financial results for a group of public companies showing an aggregate underwriting loss for the first time since 2011, according to Fitch Ratings in a new report. Read More
A Captive Insurer Should Have Written Claims Handling Procedures
The best practice for a captive insurer is to have claims handling procedures, says Lynn Sheils, senior vice president and general counsel of EWI Reinsurance. The procedures should discuss all stages in the life cycle of a claim, including how notice will be handled, investigation standards, coverage evaluation, reserving approach, and claim closure philosophy. Read More