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Although the ongoing soft market has damped the formation of captive insurers, market trends are cyclical and the growth of enterprise risk management may encourage captives because of their long-term consistency, according to an industry report.
The National Association of Insurance Commissioners decided to pursue its own program for the collection of surplus lines taxes--a bare bones approach that does not tackle the issue of regulatory uniformity.
Rep. Dennis Moore, D-Kansas, has introduced legislation in Congress with strong support from the reinsurance industry that would create a federal license for reinsurers.
Insurers have a potentially vast new marketplace for innovative insurance solutions for the poor that can reach up to four billion people with potential premium of up to $40 billion, according to a report from Swiss Re.
Moody's Investors Service said it is maintaining a cautious view on the reinsurance sector as it expects profitability to be pressured by continued deterioration in pricing, diminishing impact of reserve releases and low investment yields.
Claims for the airline insurance market are expected to outpace premiums for 2010 exceeding $2 billion, for only the third time since 1996, according to a report from Aon Analytics.
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