Commercial insurance news

Here are some recent commercial insurance news articles:

1. Cyber Insurance Market Expected to Grow

A recent report by ResearchAndMarkets.com predicts that the global cyber insurance market will grow from $3.6 billion in 2020 to $14.4 billion by 2027, at a compound annual growth rate (CAGR) of 24.5%. This growth is driven by the increasing number of cyber-attacks and data breaches, as well as the need for businesses to protect themselves against these threats. (Source: Insurance Business America)

2. Commercial Auto Insurance Rates Expected to Rise

A report by the National Association of Insurance Commissioners (NAIC) predicts that commercial auto insurance rates will increase by 5-10% in 2023 due to rising claims costs, increased litigation, and changes in regulatory requirements. This could have significant implications for businesses that rely on commercial auto insurance to protect their fleets. (Source: Property Casualty 360)

3. D&O Insurance Claims on the Rise

A recent report by D&O Diary found that directors and officers (D&O) insurance claims have increased by 15% in the past year, driven by a rise in securities class actions, derivative lawsuits, and regulatory enforcement actions. This trend is expected to continue, making D&O insurance a critical risk management tool for businesses. (Source: D&O Diary)

4. Workers' Compensation Insurance Rates to Decrease

A report by the Workers' Compensation Research Institute (WCRI) found that workers' compensation insurance rates are expected to decrease by 2.5% in 2023, driven by declining medical costs and improved claims outcomes. This could provide relief for businesses that rely on workers' compensation insurance to protect their employees. (Source: WCRI)

5. Commercial Property Insurance Rates to Increase

A report by the Insurance Information Institute (III) found that commercial property insurance rates are expected to increase by 5-10% in 2023 due to rising construction costs, increased weather-related losses, and changes in regulatory requirements. This could have significant implications for businesses that rely on commercial property insurance to protect their assets. (Source: III)

6. Cybersecurity Insurance to Become a Must-Have for Businesses

A recent report by the Ponemon Institute found that 64% of businesses believe that cybersecurity insurance is essential to protect against cyber-attacks and data breaches. This trend is expected to continue, making cybersecurity insurance a critical risk management tool for businesses. (Source: Cybersecurity Ventures)

7. Commercial Insurance Premiums to Increase

A report by the National Association of Mutual Insurance Companies (NAMIC) found that commercial insurance premiums are expected to increase by 5-10% in 2023 due to rising claims costs, increased litigation, and changes in regulatory requirements. This could have significant implications for businesses that rely on commercial insurance to protect their assets. (Source: NAMIC)

These are just a few examples of recent commercial insurance news articles. If you're interested in staying up-to-date on the latest developments in the commercial insurance industry, I recommend following reputable insurance news sources or subscribing to industry publications.