Market News
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
Hamilton Re Creates Capacity with New Special Purpose Vehicle, Turing Re
Hamilton Re, the Bermuda-based operations of Hamilton Insurance Group, announced that it has established its first special purpose vehicle, Turing Re Ltd. Turing Re will provide collateralized capacity for Hamilton Re's global reinsurance portfolio. Turing Re is funded with $65 million of capital in support of Hamilton Re's property treaty book of business. Read More
New Report Identifies Malpractice Risks of Medication-Related Errors
Medication-related errors are common, can cause high-severity injuries, and may be costly. A new report issued by CRICO Strategies, "Medication-Related Malpractice Risks," examines the impact-financial and human-and root causes of medication-related errors. Read More
RIMS Backs Treasury Department's US-EU Covered Agreement on Reinsurance
RIMS President Nowell Seaman sent an official letter to the secretary of the US Department of the Treasury, Steven T. Mnuchin, expressing the Society's support for the recently proposed US-European Union (EU) Covered Agreement. The bilateral agreement is designed to improve the access and management of reinsurance between the United States and Europe. Read More