Market News
FERMA Calls for Streamlined Cyber-Incident Reporting in New "Cyber Reporting Stack" Report
Federation of European Risk Management Associations’ (FERMA) "Cyber Reporting Stack" report urges the European Union (EU) to simplify cyber-incident reporting requirements, proposing a single point of entry for notifications and highlighting the need for insurance considerations. It offers guidance for risk managers navigating complex EU regulations like General Data Protection Regulation, Network and Information Security Directives, Digital Operational Resilience Act, and the upcoming Cyber Resilience Act. Read More
SCCIA Announces $20,000 Scholarship Gift to ICCIE for Captive Insurance Education
The South Carolina Captive Insurance Association (SCCIA) announced a $20,000 scholarship gift to the International Center for Captive Insurance Education (ICCIE). The scholarships aim to support individuals pursuing professional certifications in captive insurance. Read More
October "CICR" Explores Best Use of Captive Surplus Funds
Don't miss the October issue of "Captive Insurance Company Reports" ("CICR"), in which Anne Marie Towle, CEO at Hylant Global Risk and Captive Solutions, shares insights on using surplus balances in a well-managed captive insurance company to leverage the company's value and business objectives. Read More
2024 Q3 Insurance Outlook: Stable Rates with Focus on Risk Management
HUB International's Q3 2024 report forecasts stable insurance rates for most lines, with exceptions for high-risk areas and businesses with poor claims histories. The report emphasizes the importance of proactive risk management, recommending strategies like captive insurance and business interruption planning to mitigate potential disruptions from natural and man-made disasters. Read More
US Workers Compensation Insurance Continues To Outperform
The US workers compensation insurance segment continues to outperform other property-casualty lines, driven by lower loss frequency, favorable reserve development, and controlled medical severity. Despite pricing declines, premium growth has been supported by wage increases and job growth. The segment remains competitive, with strong underwriting margins and sustained profitability. Read More