Market News
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
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