Market News
Report Reveals Increased Captive Insurance Use for Terrorism Coverages
A recent Marsh report said that, while the number of incidents and casualties declined in 2017, the insurance marketplace continues to innovate and respond to the terrorism threat. The report found that, in 2017, the number of Marsh-managed captives with programs accessing the federal terrorism insurance backstop increased 44 percent. Read More
Risk Management Processes Not Keeping Pace with Technology
Emerging technologies continue to rapidly change the way businesses operate and interact with customers, yet risk management processes are not keeping pace with the associated risks, according to a new report published by Marsh and RIMS, the risk management society™. Read More
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