Global commercial insurance prices increased 20 percent in the 3rd quarter of 2020, according to the Global Insurance Market Index compiled by Marsh. Marsh said the increase was the largest since the index was launched in 2012 and it follows year-over-year average increases of 19 percent in the 2nd quarter.
Lloyd's has launched the 2nd phase of its Future at Lloyd’s strategy with the introduction of Blueprint Two, a 2-year program that aims to bring to life the transformation plans set out in September 2019's Blueprint One. Lloyd's said Blueprint Two will transform the way the market's customers get covered.
Catastrophe risk modeling firm AIR Worldwide estimates that insured losses to onshore property resulting from Hurricane Zeta's wind and storm surge will range from $1.5 billion to $3.5 billion. AIR said that at landfall Zeta was a high-end Category 2 storm with 1-minute sustained wind speeds of 110 mph.
Risk retention groups’ (RRGs) assets and surplus increased in the second quarter of this year relative to the same period last year, as the alternative risk transfer vehicles continue to provide specialize coverage to their insureds while remaining financially stable, according to a new analysis from Demotech, Inc.
Brokerage and consulting firm AHT Insurance has added specialty captive insurance programs to provide solutions for companies' insurance needs. AHT now offers consulting and formation of single-parent captives, segregated cell captives, risk retention groups, and micro-captives for clients for whom the captive insurance approach is appropriate.