Market News
Premium Increases Continued Across Most Commercial Lines in Q3
While year-over-year average premium renewal rate changes varied among commercial insurance lines in this year's third quarter, all rates were up month-over-month in September, according to the "IVANS Index," a regular premium renewal rate index compiled by the Ivans insurance exchange service. Read More
Best Says US Property-Casualty First-Half Downgrades Outpace Upgrades
The US property-casualty insurance industry experienced an increase in credit rating downgrades during the first half of 2023, reflecting a difficult period for the personal lines segment, according to A.M. Best. The rating agency reported that the number of property-casualty downgrades outpaced upgrades during this year's first 6 months. Read More
As Cyber-Insurance Market Stabilizes, Captives' Relevance Persists
While the commercial cyber-insurance market is stabilizing and perhaps even softening, there's still a place for captive insurance in organizations' cyber-insurance programs, a new white paper from Milliman contends. Employing captives in cyber-insurance programs offers several potential advantages, according to the Milliman white paper. Read More
Studies Show Group Captives Typically Aid Members' Risk Control Efforts
Macro- and micro-level studies of group captives indicate that member-companies improve workplace safety and risk control after joining. By strenghtening their risk control efforts, group captive members can also ultimately realize savings in the form of reduced premiums. Read More
Survey Reflects Captive Industry Strength, Favorable Future Outlook
The captive insurance industry continues to grow and take on new risks, with captive industry participants remaining bullish on the industry's future, according to the findings of the Self-Insurance Institute of America (SIIA) 2023 Captive Industry Survey. For the third year in a row, new captive formations significantly outnumbered closures. Read More