Market News
Reputation Risk Awareness Grows as Risk Resilience Confidence Slips
Reputation risk is considered a top-3 risk at more than 1 in 4 companies and a top-5 risk at more than half, according to WTW. WTW's "2023 Reputational Risk Readiness Survey Report" said that 26 percent of companies now considering reputation a top-3 risk was up from 18 percent in 2021. Read More
Best Revises US Medical Professional Liability Outlook to Stable
A.M. Best has revised its outlook for the US medical professional liability (MPL) insurance segment to stable from negative. The rating agency cited the MPL segment's improved rate adequacy, diminishing impact from pandemic-related exposures, persistently redundant loss reserves, higher reinvestment rates, and improved overall returns. Read More
Analysis Projects 103.8 Percent 2023 Property-Casualty Combined Ratio
The property-casualty insurance industry is poised to post a 103.8 percent net combined ratio for 2023, according to the latest underwriting projections by actuaries at the Insurance Information Institute and Milliman. Severe convective storm losses were seen as a significant factor in the 2023 combined ratio. Read More
Panel Discussion Sheds Light on Parametric Coverage and Regulatory Challenges
In a recent panel discussion at the Vermont Captive Insurance Association’s Annual Conference, experts delved into the nuances of parametric coverage and how it differs from traditional insurance. The panelists provided valuable insights into the world of parametric contracts, their growing popularity, and the regulatory challenges that come with them. Read More
All Major Commercial Lines Saw Month-over-Month Increases in October
Average premium renewal rates of all major commercial insurance lines increased month over month in October, according to the Ivans Index, a regular premium renewal rate index compiled by the Ivans insurance exchange service. Year over year, all lines but workers compensation saw premium renewal rate increases during the month. Read More