Market News

Insights from Pinnacle's 2020 Risk Retention Group Benchmarking Study

October 26, 2020

Pinnacle Actuarial Resources' 2020 Risk Retention Groups Benchmarking Study offers insights into RRG trends and context into their development. This is the third year that Pinnacle has produced the report, so there is the ability to cross-reference information between the three papers. Read More

Milliman Announces New Commercial Auto InsurTech Offering

October 23, 2020

Consulting and actuarial firm Milliman, Inc., has announced a new telematics-based risk score offering designed to help improve commercial auto insurer profitability. Milliman created the new InsurTech offering, AccuRate Fleet, with connected vehicle and fleet technology provider Azuga, Inc. Read More

US Insurers Experienced Largest Third-Quarter Cat Losses Since 2017

October 20, 2020

The US property-casualty insurance industry's third-quarter natural catastrophe losses will be the largest since the third quarter of 2017, according to Fitch ratings. The third-quarter loss figures will be driven by the elevated frequency of losses during the 3-month period, Fitch said. Read More

Extended Low Interest Rates Will Harden Market Further: Munich Re

October 20, 2020

Citing the impact of low interest rates on reinsurers, Munich Re said it expects insurance markets to harden further. After years of eroding rates and softening of terms and conditions resulting from excess capacity and low major-loss expenditures, low interest rates are having an impact on reinsurers' profitability. Read More

Premium Increases Continue Across Most Major Lines in Third Quarter

October 14, 2020

Average premium renewal rates continued to increase year-over-year across most commercial insurance lines during the third quarter of 2020, according to the August IVANS Index, a regular premium renewal rate index compiled by the IVANS insurance exchange service. Workers compensation average premium renewal create changes remained in negative territory. Read More