As we look ahead to 2025, the US property and casualty insurance market is expected to enter a period of relative stability, with some notable variations across different lines of coverage.
The year 2024 was marked by an extraordinary number of costly weather and climate disasters in the United States, continuing a concerning trend of increasing frequency and severity of such events. Here's an expanded look at the losses from 2024:
Learn how Tenant Legal Liability coverage in your captive can create an additional profit center for your business.
The recent wildfires ravaging Los Angeles have not only caused widespread destruction but are also set to have significant impacts on California's already strained insurance market. Early estimates suggest that insured losses could reach up to $30 billion, potentially making these fires the costliest in U.S. history.
One of the nation’s largest home builders worked with C.I. to procure their builders risk coverage. They were not getting the credit they deserve in the standard market for their claim free loss history, they were able to use their existing captive to retain risk and stop burning money in the commercial insurance market.
One of the key advantages of captive insurance is the ability to achieve pricing stability. As a captive matures and accumulates capital and surplus, it becomes better equipped to retain risk and insulate itself from fluctuations in the commercial insurance market.
2024 was a milestone year for captive insurance growth, with significant expansion across the industry. The number of captives worldwide increased to an estimated 8,000, writing approximately $50 billion in premiums
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