قالب وردپرس درنا توس
Home / Insurance / The prisoner is used faster when the market hardens: Report

The prisoner is used faster when the market hardens: Report



Most companies that own their own insurers plan to increase their use of alternative risk transfer vehicles in response to difficult insurance market conditions, according to a report from Marsh LLC released on Thursday.

The analysis of prisoners managed by Marsh found that 59% of prisoner owners expect to add more cover lines, increase detention in prison, or form an additional prisoner.

In many cases, prisoners have already taken action, says Marsh.

Coverage written by Marsh-managed prisoners saw a sharp increase in gross premiums over the past year due to the tightening insurance market, says Marsh, who is the world's largest captive manager with 1,380 prisoners under management, according to Business Insurance latest ranking. [1

9659002] All-risk responsibility, board members' responsibilities, supply chain and business interruptions and conditional business interruptions all see an increase and point to "a dramatic change on the horizon for next year," says Marsh.

The supply chain, business outages and conditional outage premiums in Marsh-managed prisoners jumped 283% on average in 2019, with premium growth of $ 185.9 million, the report found. 19659002] All-risk real estate premiums increased by 64% or $ 2.4 billion in 2019, the report found.

The increase in high-risk real estate premiums was led by the energy and financial sector, which saw high-risk real estate premiums rise by 151% and 104%, respectively, Marsh said in a statement.

As excess liability capacity has decreased, some companies use prisoners to fill gaps in their coverage towers, the report says. This was led by health care, which saw an increase in the surplus premium by 33% in 2019, Marsh said.

In construction, increased market pricing led to a 200% increase in the professional liability premium driven to prisoners in 2019, Marsh said.

At the same time, global growth in captivity over the past five years has taken place mainly in emerging markets, led by Latin America and Asia-Pacific, the report found.

However, Europe has seen the total number of prisoners remain unchanged, although the volume of premiums has increased by 8%, according to the report.

Financial institutions are the business sector with the most Marsh customers prisoners, accounting for 21% of prisoners, followed by healthcare with 11% and manufacturing and retail / wholesale with 6%.

Captive Landscape Report 2020 is based on data shared by approximately 1,240 prisoners worldwide handled by Marsh. Catalog

Catalog


Source link