Market News
Is Affordable Pricing an Impediment in Your Captive's Mission Statement?
Captive insurer mission statements are intended to be living, dynamic documents. Too often, they are crafted during the captive's start-up phase and then forgotten. Most captive mission statements contain references to affordable pricing. Given the ongoing market conditions, it may be time to remove this reference and refresh your mission statement. Read More
Technological Change and Cyber Risk Are Top Insurer Risks, According to CSFI Survey
The top risk now faced by the global insurance industry is its ability to confront structural and technological changes (change management), according to a new Centre for the Study of Financial Innovation (CSFI) survey. Cyber risk follows closely, with anxiety about attacks on insurers and the costs of underwriting cyber crime. Read More
Blockchain Technology: Transforming Insurance in Real Time
AIG, IBM, and Standard Chartered Bank have successfully piloted the first multinational, smart contract"-based insurance policy using blockchain technology. The "smart contract" is a conversion of a multinational Read More
CLIPS Survey Finds Commercial Insurance Prices Remain Nearly Flat
Commercial insurance prices in the United States were nearly flat during the first quarter of 2017, according to Willis Towers Watson's most recent Commercial Lines Insurance Pricing Survey" ("CLIPS"). Price changes reported by carriers averaged less than 1 percent for the sixth consecutive quarter." Read More
Excess Capacity and Strong Competition Drive Down Reinsurance Rates
Excess capacity and strong competition among traditional and insurance-linked securities (ILS) markets were again instrumental in driving rates down. Specifically, renewed vigor by ILS markets to deploy capital was notable this year as they looked to increase participation, particularly with stronger performing cedents. Read More