Market News

Risk retention groups (RRGs) provide essential insurance in sectors where traditional insurers fall short. The Recreation RRG, for instance, addresses the unique needs of recreational sports. RRGs focus on stability, safety, and risk management, offering sustainable solutions for their members and ensuring availability where coverage is hard to find. Read More

Reinsurance capital rose 7 percent in 2023 to $568 billion, with further growth expected in 2024. Traditional capital increased significantly, particularly in Bermuda, while third-party capital saw modest gains, driven by catastrophe bonds and collateralized reinsurance, according to A.M. Best. Read More

Global healthcare trends and rising medical inflation are increasing demand for health reinsurance. While premium growth has slowed recently, driven by segments like commercial and stop-loss, the market remains robust, particularly in emerging regions like Asia. Challenges include market saturation and high costs for comprehensive products. Read More

US employer healthcare costs are projected to rise 9 percent in 2025, with the average cost surpassing $16,000 per employee. Rising medical claims and specialty drug costs, particularly for GLP-1 medications, are significant factors. Employers face challenges balancing these costs while maintaining affordable benefits for employees. Read More

VCIA elects new 2024–2025 board, including Gail Newman as chair. The board also appointed key leadership roles. Outgoing members were thanked, and the next meeting will focus on stakeholder feedback and strategic planning for the association's 40th anniversary in 2025. Read More