The insurance-linked securities (ILS) market experienced a record new issuance of $11.3 billion in 2020, a 106 percent increase from 2019, according to a new report from Swiss Re. The year's 49 ILS transactions also represented significant growth, more than double the number in 2019.
US property-casualty insurers will face uncertainty over their ultimate pandemic-related losses in numerous insurance lines for some time to come.
US commercial insurance prices once again experienced significant growth in the fourth quarter of 2020, according to Willis Towers Watson's Commercial Lines Insurance Pricing Survey (CLIPS). The aggregate commercial price change reported by insurers was more than 10 percent, the highest increase in the history of CLIPS.
The Reinsurance Association of America (RAA) is urging policy makers to adopt guiding principles as they seek to address climate change and its interrelationship with insurance and regulation. An RAA statement set out several principles that the association said should guide climate change-related insurance regulation.