Unlike other lines of coverage, the market for workers’ compensation insurance has remained stable across most states and industries, performing as an outlier by producing profitable underwriting results. According to the National Council on Compensation Insurance (NCCI), the private carrier combined ratio for workers’ compensation in 2020 carriers was 87, up from 85 in 2019, marking the seventh consecutive year of underwriting profit. Nevertheless, there are still trends that could pose concerns within the market…

On March 21, the federal government warned businesses in the private sector to harden their cyber defenses, reiterating earlier warnings related to potential cyberattacks against U.S. organizations by Russia. “I have previously warned about the potential that Russia could conduct malicious cyber activity against the United States, including as a response to the unprecedented economic costs we’ve imposed on Russia alongside our allies and partners,” Biden said. “It’s part of Russia’s playbook. Most of America’s…

The cyber insurance market is at a critical juncture for both insurance carriers and policyholders. While the last few years have seen increased competition among cyber insurance carriers, higher capacity and expanded coverage terms, both 2020 and 2021 saw a rapidly hardening cyber insurance market. Moreover, across industry lines, cyberattacks have surged in both cost and frequency. This increase in attacks has, in turn, resulted in a rise in cyber liability claims and subsequent underwriting…

Like many other lines of insurance, the employment practices liability (EPL) insurance market has hardened. This is due, in part, to a higher frequency and severity of claims in recent years, as well as increased legislative activity at both the state and federal levels. In 2022, the EPL rate environment is anticipated to improve slightly over 2021. Yet, it’s predicted that most policyholders will still experience rate increases in 2022. Larger organizations and insureds operating…

The general liability market has consistently underperformed for insurance carriers in recent years. As claims have increased in frequency and severity, insurance carriers have responded by tightening underwriting standards, deploying less capacity and seeking rate increases. Despite recent trends, carriers have begun to see some improvement in general liability results. In 2022, it’s predicted that most policyholders will encounter another year of modest rate increases for general liability coverage. Policyholders who operate in sectors with…