In market news:

Reinsurance pricing fell at the Jan. 1, 2015, renewals in many segments, affecting almost all lines of business and geographies and continuing recent renewal trends, according to Guy Carpenter’s 2015 global renewals report, “Shaping the Future: Positive Results, Excess Capital and Diversification.” A major factor driving market conditions at the renewals was the lack of costly catastrophes that resulted in global insured losses for 2014 of approximately $30 billion, the lowest total in four years and 25 percent lower than 2013.

Read the full details at Workers’ Compensation Institute here.

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