Market News
Reinsurance Pricing Won't Turn This Year, Says Fitch Ratings
The soft pricing in the global reinsurance market will continue for at least the rest of 2017, Fitch Ratings says. Fitch expects premium rates to continue declining, due to large volumes of under-deployed capital and sluggish demand from reinsurance buyers following several years of below-average catastrophe claims. Read More
KBRA Announces New Captive Rating Service
The market for captive ratings just expanded with the announcement from Kroll Bond Rating Agency (KBRA) about its new rating option. We interviewed KBRA's insurance specialists at the KBRA home office in New York, and our Q-and-A examines this new option and how it differs from the model-driven philosophy of other credit rating agencies. Read More
Almost Four Times More Budget Is Being Spent On Property-Related Risks vs. Cyber-Risk
Organizations now believe that their cyber-assets are more valuable than plant, property, and equipment assets, even though they are spending four times more budget on insurance protecting the latter risks, according to the "2017 Cyber Risk Transfer Comparison Global Report" from Ponemon Institute. Read More
New Vermont Captive Insurance Legislation Signed into Law
New legislation making improvements in Vermont's captive law has been signed by the governor. The new legislation adds agency captives to the list of captive types allowed in the US domicile. Other important changes include allowing broader accounting systems, expanding dormant captives, and clarifying risk retention group governance standards. Read More
Risk Professionals Must Increase Their Understanding of Disruptive Technology and Its Risks
A disturbing percentage of risk managers are unaware of the prevalence of disruptive technologies in their organizations and the impact of those technologies on their organizations' risk profiles, according to a report published jointly by Marsh and RIMS. Risk professionals need to close this substantial knowledge gap to manage rapidly advancing disruptive technology risks. Read More