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Premium Increases Slowed, Challenging Conditions Remain, The Council’s Q4 P/C Market Survey Shows

The Council’s recently released quarterly P/C Market Survey shows that almost all lines of business recorded smaller premium increases in Q3 2023 than in the previous quarter. The numbers revealed that the same challenging factors from previous quarters were still at play: issues with reinsurance affordability and availability, climate change-driven natural catastrophe losses, and inflation.

View the Q4 2023 P/C Market Report.

2024 Legislative Summit Recap & Photo Gallery

The Council convened 150 executives from member firms across the country for our reimagined 2024 Legislative Summit, February 5-7, 2024, at the Waldorf Astoria in Washington, DC. With our annual Working Groups Summit lifted out and elevated to a standalone leadership forum in November, this year’s Legislative Summit was designed to bring members into the political fold and help them make personal connections with some of the country’s most influential congressional leaders. We encourage you to the save the date for our 2025 Legislative Summit, February 3-5 in Washington.

Download the recap.

New York Department of Financial Services Issues Proposed Regulations for Pharmacy Benefit Managers

On February 6, 2024, the New York Department of Financial Services issued proposed regulations to regulate pharmacy benefit managers (PBMs) operating in the state. The proposed regulations are intended to address anti-competitive practices and implement a 2021 law to regulate PBMs. A 60-day comment period will follow once the proposed regulations are published in the State Register.

A summary of the proposed regulations can be found here.

Register for The Council’s Spring Working Groups  

Registration is open for four of The Council’s eight Spring Working Groups. As a reminder, there will no longer be a registration fee for your Spring Working Group meetings.

The Claims & Risk Management Working Group will be held April 23-24, also in Washington D.C. The event will feature a presentation from Lucy Straker at Beazley who will discuss armed assailants and crisis management.

Learn more about the Claims & Risk Management Working Group.

The HR & Talent Development Working Groups will meet May 7-9 in Washington, D.C. Registrants can choose to attend HR, Talent Development, or both working group sessions. More detailed information on agenda topics and speakers are forthcoming.

Learn more about the HR & Talent Development Working Groups.

The Council Grows Membership Community & Council Partners Program in Q1 2024

The Council is pleased to announce the addition of three new domestic firms and two new international firms to its membership community thus far in 2024. Additionally, The Council Partners program saw increased investment through new and enhanced sponsorships within the carrier community.

The Council is thrilled to welcome the following new firms in Q1 2024:

  • Alkeme Insurance Services, (Ladera Ranch, CA)
  • Cornes & Co., (Tokyo, JP )
  • Falcon Risk Services, (New York, NY)
  • McGohan Brabender, (Dayton, OH) ​​​
  • PT Talisman, (Jakarta, ID)

We are also pleased to share that Symetra has joined The Council Partners program as an EBLF Event Sponsor, and Ameritas has chosen to increase its commitment from EBLF Event Sponsor to Gold Partner in 2024.

Read the full news release here.

MarshBerry Releases the European Insurance Distribution Market Report

The Council works to gather the latest market intelligence from across our industry to help our member firms set strategy and forecast business needs. As we expand the reach of our global membership community, resources like the MarshBerry European Insurance Distribution Market Report are becoming increasingly valuable. The latest report highlights:

  • The expanding European insurance distribution landscape
  • Trends reshaping the broker market
  • Industry forecast for 2024 and beyond

Download the report.