Market News
NAIC Testimony to Congress Advocates States' Role in Insurance Issues
Connecticut Insurance Commissioner Katharine L. Wade testified before Congress representing the National Association of Insurance Commissioners (NAIC). Ms. Wade responded to questions about the appropriate role for the federal government in insurance issues. The hearing focused on the federal government's international and domestic engagement. Read More
Connecticut Introduces Captive Insurance Tool Kit for Business Owners
The Connecticut Insurance Department has launched CT Captive Solutions for Business-a new online resource for business owners exploring ways to control insurance costs and manage their risk. The tool kit includes instructions on licensing a captive insurer in Connecticut, a list of recognized captive managers, FAQs, and Insurance Department contacts. Read More
Overview of Hurricane Nate's $650 Million-$1.35 Billion in Total Loss
CoreLogic announced preliminary loss estimates for Hurricane Nate. According to the data analysis, total insured and uninsured loss for both residential and commercial properties, including damage from both flood and wind, is estimated to be between $650 million and $1.35 billion. Read More
Five of the World's Risk Management Associations To Coordinate CPD Points
Five of the world's largest risk management associations have agreed to work together toward a recognition of their respective risk management designations/certification programs. The organizations are ALARYS (Latin America), FERMA (Europe), IRMSA (South Africa), PARIMA (Asia) and RIMS (North America). Read More
AON/ASHRM Report Reveals Healthcare Systems Face Rising Batch Claims
The 2017-2018 report from AON and ASHRM (American Society for Healthcare Risk Management) titled "AON/ASHRM Hospital and Physician Professional Liability Benchmark Analysis" reveals that healthcare systems can expect stable claims frequency for typical professional liability claims but warns of increased claims frequency for extremely large claims. The report also finds that batch claims are on the rise in nearly every state. Read More