Historically, wholesale insurance brokers have been viewed through the limited perspective of being solely a transactional facilitator of submissions or an avenue to access additional markets, especially in the excess and surplus (E&S) marketplace. But now more than ever, the …
AM Best estimates that traditional reinsurance capital will drop by roughly $40 billion to $435 billion at year-end 2022, after hefty jumps recorded in each of the prior three years. The projected 8.4% decline to $435 billion for 2022 from …
Federal lawsuits, including a nationwide class action filed in California, have put a spotlight on a type of captive insurance program, charging its directors with a scheme that involved forged signatures and fake policies. The lawsuits, by Lexington Insurance, an …
The number of U.S. products recalled this year has already surpassed 1 billion, according to the U.S. product recall index released by Sedgwick’s brand protection division. Only two other years on record have seen more than 1 billion units recalled: …
The second quarter 2022 marked a full five years of premium increases for across all lines of commercial insurance business, according to the latest report from the Council of Insurance Agents and Brokers (CIAB). The average premium increase across all …
The owner of an underwater oil pipeline that spilled some 25,000 gallons of crude into the ocean off Southern California last year will pay nearly $1 million in cleanup costs. The Orange County Board of Supervisors agreed to accept a …
Premiums in the federal multi-peril crop insurance (MPCI) program surged in 2021 to a record high of $14.9 billion, an increase of nearly 40% over the previous year, according to an AM Best report. The new Best’s Market Segment Report, …
Global commercial insurance prices increased 9% in the second quarter of 2022 (down from an 11% increase in Q1), continuing a trend of moderating rate increases that began in Q1 2021, according to the Global Insurance Market Index released by …
The U.S. Supreme Court’s June overturning of the 1973 Roe v. Wade decision protecting women’s constitutional right to an abortion has brought with it reports of growing digital privacy concerns. Most of the concerns center on individuals’ collected data due …
From a global pandemic to unprecedented racial, social and political turmoil, to sustainability and climate change, senior executives across industries have been forced to deal with a range of issues that have not historically been considered central to the business. …
