October 26, 2021
Reinsurers’ plans to continue raising premium rates during the January 2022 renewals are likely to contribute to stronger profitability and an improving sector outlook, according to Fitch Ratings. Fitch said it expects double-digit percentage premium rate rises for property catastrophe …
October 22, 2021
Bermuda’s advantageous tax status for the re/insurance industry will be reduced at the margin with the expected passage of the recent multilateral agreement to establish a 15% global minimum tax rate, according to Fitch Ratings in a market commentary. The …
October 21, 2021
In an era of increased business risk, the owners, CEOs and founders of small-medium enterprises (SME) and technology startups are falling short in both evaluating these risks and showing the right acumen for risk management. According to a report released …
October 19, 2021
The risk of an injury is higher for horse riding than for other potentially risky sporting activities, such as football, motor racing or skiing. That’s according to research published in the online journal Trauma Surgery & Acute Care Open that …
October 19, 2021
There were 553 announced insurance agency mergers and acquisitions during the first three quarters of 2021, up from 490 in 2020, According to an OPTIS Partners’ M&A report, that was the highest recorded total for this period. “Multiple factors that …
October 18, 2021
For the sharing economy and mobility sectors to continue to grow, they will need new forms of insurance, including programs to support gig-workers at scale, advises a report from insurance broker Marsh. According to the report, the COVID-19 pandemic is …
October 18, 2021
The ongoing eruption of the Cumbre Vieja volcano, located on the La Palma Island in the Canary Islands archipelago of Spain, is a reminder to insurers of the challenges posed by non-modeled perils,” commented Michal Lörinc, senior catastrophe analyst for …
October 15, 2021
Workers’ compensation insurers have slashed spending on opioids, reducing the risk of addiction and delayed recovery, but now they are under increasing pressure to reimburse injured workers for a new kind of elixir. Six states now allow or require insurers …
October 15, 2021
For the fifth consecutive year, insured losses from natural catastrophes are expected to be at or above global reinsurers’ budget expectations, but their very strong capital adequacy continues to provide a cushion, according to S&P Global Ratings. “The top 21 …
October 14, 2021
Costs for large U.S. employers that pay for their employees’ medical care will increase on average five percent to more than $13,000 per employee in 2022, predicts insurance broker Aon. This increase would be slightly less than what employers budgeted …