Market News
Risk Retention Groups Continue To Grow in Size and Importance
Even in a soft market, Risk Retention Group (RRG) have grown significantly and continue to play a vital role providing coverage to their tens of thousands of policyholder-owners. At the end of March 2018, 228 RRGs were doing business, up from just 100 in 2003, according to the Risk Retention Reporter. Read More
Lloyd's Reports on Sharing Economy Opportunities and Risks
Lloyd's recently launched a report titled "Sharing Risks, Sharing Rewards: Who Should Bear the Risk in the Sharing Economy?" According to Lloyd's, the sharing of assets and services creates new opportunities but also new risks. Read More
CCRIF SPC To Enlarge Parametric Insurance Coverage and Products
The Caribbean Catastrophe Risk Insurance Facility Segregated Portfolio Company (CCRIF SPC) will move to deliver greater support for countries in the region. CCRIF provides parametric catastrophe insurance coverage to its members by furnishing financial protection to countries vulnerable to tropical cyclones and earthquakes, as well as to excess rainfall. Read More
NAIC Releases 2017 Annual Report and Strategic Plan
The National Association of Insurance Commissioners' (NAIC's) annual report outlines its financial health, focuses on its budgeted initiatives and operations, and illustrates state insurance regulator efforts to safeguard insurance markets and protect consumers. While most captive insurers do not need to follow all NAIC protocols, it is wise to keep up with regulator activities. Read More
AIR and RenaissanceRe Join Forces To Model Portfolio Risk
Catastrophe modeling firm AIR Worldwide and RenaissanceRe will join forces to enhance long tail casualty risk modeling, further refine the first fully probabilistic model for extreme liability events, and help companies understand the complex interconnections in their portfolios. Read More