Market News

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

A.M. Best reports that global reinsurers saw robust technical profits in 2023, driven by strategic portfolio de-risking and improved pricing. The report predicts prolonged hard market conditions, with reinsurers maintaining strong capitalization despite ongoing claims activity, particularly from medium-sized losses and secondary perils. Read More

Milliman's podcast dives into the rising popularity of captive insurance as a solution for managing complex risks like cyber and climate change. Experts discuss how captives work, their benefits, and the strategic considerations for organizations looking to self-insure, providing essential insights into this evolving risk management tool. Read More

The 831(b) Institute urges Congress to reassess Internal Revenue Service (IRS) oversight of small captive insurance companies, emphasizing their role in managing global risks for small businesses. He argues that current IRS actions may hinder legitimate risk management, pushing businesses towards limited commercial insurance options and stifling innovation in risk financing. Read More