Today's Insurance Pulse
Heritage trims reinsurance program, saving $63.2M
Heritage Insurance Holdings renewed its 2026 reinsurance and catastrophe‑bond program with a total limit of $2.2 billion, down from $2.5 billion placed in 2025. The renewal includes $712 million of multi‑year coverage, $550 million from cat bonds and $162 million from private markets. Pricing softness allowed Heritage to cut renewal costs by $63.2 million.
Also developing:
Navigating Now, Preparing for Tomorrow: The Evolving Corporate Risk Agenda
HSBC’s Q1 2026 Markets Pulse Survey of 1,300 corporates shows a paradox of optimism and heightened risk awareness. While 72.5% remain confident about performance over the next 12‑18 months, executives are prioritising balance‑sheet optimisation, cost efficiency and digital transformation. Liquidity is now treated as a strategic asset, with 42% flagging it as a top priority, and AI‑related valuations emerge as a leading macro risk. Treasury teams are shifting to flexible funding, scenario‑based planning and more targeted hedging as rate volatility and FX swings intensify.
Cybersecurity Shifts to Executive Strategic Priority in AI Era
Anthropic’s Claude Mythos is reframing cybersecurity at the top level. The risk is no longer a technical issue to delegate, but a core business concern that requires executive attention. This is the wake-up call. In the AI era, cybersecurity becomes a strategic...
Medigap Premiums Leap, and Consumers Have Few Alternatives
Medigap premiums are surging nationwide, with Chubb abruptly raising rates 45% for a group of Illinois clients in August. Early‑2026 filings show Plan G premiums climbing 12%‑26% among major carriers such as Aetna, UnitedHealthcare and Humana. Approximately 12 million Americans—about 43% of...
Insurance's Operational Debt Coming Due
Insurers are confronting a growing "operational debt" as years of underinvestment in claims payment infrastructure finally surface. A recent survey of over 200 senior U.S. and U.K. insurance leaders shows that 80% see internal inefficiencies as a barrier, while two‑thirds...
JBA Risk Management Releases Global Climate Change Flood Mapping Suite
JBA Risk Management launched a global flood‑mapping suite that integrates climate‑change projections into its existing flood hazard models. The new tools let insurers, investors and corporates visualize how river, surface‑water and coastal flood exposure could evolve under multiple climate scenarios....
Euler ILS Partners Sees $1bn Fund Opportunity for Data Centre Sidecar Risk: Bloomberg
Euler ILS Partners, a Swiss specialist in insurance‑linked securities, is planning a $1 billion sidecar fund to underwrite data‑center construction risk. The fund will use quota‑share arrangements with an insurer, targeting double‑digit returns for investors. Euler has already secured indications of...
Hong Kong ‘Ideally Placed’ to Promote Use of Alternative Risk Transfer and ILS: IA’s Stephen Yiu
Hong Kong’s Insurance Authority Chairman Stephen Yiu said the city is uniquely positioned to champion alternative risk transfer and insurance‑linked securities (ILS). He highlighted that global ILS assets under management hit a record $129 billion in Q1 2026 and that Hong Kong...
Viewpoint: Middle Market Businesses Are Cutting Costs – But May Be Increasing Risks
Middle‑market companies remain optimistic—75% view conditions positively—but face persistent cost pressures from inflation, high rates and supply‑chain issues. Despite these headwinds, 80% are hiring or plan to add staff, while expanding responsibilities for existing employees. At the same time, many...
Kristyn Smallcombe Named CUO of Ascot U.S.
Ascot, a global specialty insurer, has named Kristyn Smallcombe as Chief Underwriting Officer for its U.S. operation. Smallcombe will shape and execute the U.S. underwriting strategy, emphasizing profitability, growth, and portfolio diversification. She reports to CEO Matt Kramer and will...
California Wildfire Risk Bills Cruising Through Legislature
Two bipartisan California Senate bills targeting wildfire risk moved swiftly through committees. SB 894 creates a low‑interest loan program to help homeowners and small businesses fund home hardening and defensible‑space projects. SB 1297 sets up regional public‑private partnerships linking insurers,...
EY and IIF: Four in Five CROs Rank Cyber Among Top Risks
A new EY‑IIF survey shows 80% of insurance chief risk officers now rank cyber among their top five risks, a 14‑point jump from last year. Cyber risk outranked strategic, regulatory, third‑party and geopolitical concerns, with data privacy, phishing and vendor...
Insurance and Technology – The Unvarnished Truth
The insurance sector continues to pour billions into technology, yet productivity gains remain modest. Legacy core systems still dominate roughly 70% of IT spend, limiting the impact of AI and automation. InsurTech hype has not translated into market disruption, while...
Covered California Teams with Google and Deloitte to Cut Eligibility Work by 40%
Covered California announced an expanded partnership with Google Public Sector and Deloitte to embed Google Cloud's Document AI into its CalHEERS platform. The AI upgrade reduces manual processing by 40%, delivering real‑time eligibility verification for millions of Californians and strengthening...
As Climate Disasters Create an Insurance Crisis, a California Bill Seeks to Make Fossil Fuel Companies Pay
California Senate Bill 982, the Affordable Insurance and Recovery Act, would empower the state attorney general to sue fossil‑fuel companies for climate‑related damages and channel any settlements into a new fund. The fund is intended to shore up the state’s...
Ultra‑wealthy Families Reshape Risk Strategies Amid Climate Uncertainty
How are ultra-wealthy families rethinking risk in the age of climate uncertainty? To find out, I interviewed Donald Poster, the National Family Office Leader for Aon Private Risk Management, for @CrainCurrency. Article link in the comments https://t.co/kelse1ios9
Pet Insurance Complaints to UK Ombudsman More Than Double in Three Years
Pet insurance complaints lodged with the UK Financial Ombudsman have more than doubled over the last three years, signalling growing consumer dissatisfaction. The surge puts pressure on insurers to address product and service shortcomings as the market expands.
SCI-In-Focus:-Risk-Based-Capital-Modernisation-a-Catalyst-for-Insurance-CLO-Allocations
Regulators are reviewing new risk‑based capital (RBC) models that would adjust C‑1 factors for collateralised loan obligation (CLO) tranches. The proposals, developed by the NAIC and the American Academy of Actuaries, differentiate senior AAA‑A debt from lower‑rated BBB‑ and below...
How the DOJ Is Tackling Fraud in the ACA Marketplace
At a Las Vegas conference, the DOJ highlighted a growing fraud scheme in the ACA Marketplace that preys on homeless, unemployed and mentally‑ill Medicaid recipients. Street marketers falsify denials, open special enrollment periods, and become agents of record, repeatedly switching...
2027 Medicare Advantage – Part D Final Rule Summary
The Centers for Medicare & Medicaid Services issued a final rule on April 6, 2026 that overhauls Medicare Advantage (Part C) and the Medicare Prescription Drug Benefit (Part D) for coverage starting January 1, 2027. The rule implements changes mandated by the Inflation Reduction Act and...
‘They’ve Turned the Dial up on Denying Preauthorizations’: CHS Blames Payers for Volume Drop
Community Health Systems (CHS) reported a first‑quarter drop in same‑store inpatient admissions (‑1.3% YoY) and surgeries (‑2.2%), attributing the decline to aggressive payer pre‑authorization denials and macro‑economic anxiety among patients with high‑deductible plans. The pressure was most pronounced among commercial...
More Homeowners Are Buying Life Insurance to Protect Their Biggest Asset
Canadians are increasingly buying life insurance to protect their homes amid falling house prices and rising mortgage rates. PolicyMe data shows homeowners take roughly 40% more term coverage, averaging about $537,000 USD versus $409,000 USD for non‑homeowners. Coverage is highest among 25‑29‑year‑old...
2026 Excess and Surplus Lines Law Manual
Troutman Pepper Locke released the 26th edition of its Excess and Surplus Lines Law Manual, updating the 2026 regulatory landscape for all 50 states and U.S. territories. The firm also launched an interactive online portal that delivers weekly updates on statutes,...
CMS Delays Part D Portion of BALANCE Model on Expansion of GLP-1 Access
On April 21, the Centers for Medicare & Medicaid Services announced that the Medicare Part D component of the Better Approaches to Lifestyle and Nutrition for Comprehensive Health (BALANCE) Model will be delayed until 2027 pending additional evaluation and data collection....
Antaun C.L. Barnett Takes Systems Thinking to Insurance, HBCU Endowments and National Access
Antaun C.L. Barnett, MBA, is extending his full‑lifecycle systems methodology from insurance distribution to HBCU endowment strategy and national access initiatives. His push to redesign institutional structures signals a broader move toward system‑level management across finance and education.
Telematics Drives Shift in Commercial Insurance
Commercial insurers are moving from a reactive, periodic underwriting model to a continuous, data‑driven approach powered by real‑time telematics. By streaming driver behavior, vehicle usage and environmental conditions, insurers can monitor exposure as it happens and intervene before losses occur....
AHA Releases Q1 2026 Health Care Plan Accountability Update
The American Hospital Association’s Q1 2026 Health Care Plan Accountability Update bundles several pivotal Medicare developments. The Centers for Medicare & Medicaid Services (CMS) issued its 2027 Medicare Advantage and Part D rate announcement and a final rule reshaping policy and technical...
IRDAI Keeps 4% Mandatory Reinsurance Cession for FY27, GIC Re Sole Domestic Partner
The Insurance Regulatory and Development Authority of India (IRDAI) has confirmed a 4% obligatory reinsurance cession for all general insurers for FY 2026‑27, with General Insurance Corporation of India (GIC Re) remaining the exclusive domestic reinsurer. The move, effective April...
Highlights From the NAIC Spring 2026 National Meeting
The NAIC’s Spring 2026 National Meeting in San Diego highlighted a wave of regulatory initiatives across investment, technology, and life‑insurance domains. Regulators flagged a surge in Securities Valuation Office filings in 2025, prompting plans to boost staffing and address a growing...
Legislative Efforts to Curb Prescription Drug Prices Gain Momentum Across the U.S.
Virginia’s General Assembly is holding a special session to vote on the Affordable Medicine Act, a bipartisan bill that would extend Medicare‑negotiated drug prices to state‑regulated health plans. The legislation follows successful price‑cap measures in Maryland and Colorado, which have...
State Legislatures Consider Oversight of Artificial Intelligence in Health Insurance Decisions
State lawmakers across six states are introducing bills that tighten oversight of artificial intelligence in health‑insurance decisions such as prior authorization and utilization review. The proposals generally allow AI as an assistive tool but require a qualified healthcare professional to...
Chubb's Earnings Blew Past the Street. Here's Why the Stock Is Falling
Chubb reported first‑quarter earnings that topped expectations, posting EPS of $6.82 versus the $6.60 consensus. The beat was accompanied by multiple analyst upgrades and higher price targets. Despite the strong numbers, the stock slipped as investors flagged a softening property‑insurance...
Prices Rose After No Surprises Arbitration for some Care: Analysis
New Brookings research shows that prices set through the No Surprises Act’s independent dispute resolution (IDR) arbitration are dramatically higher than pre‑law in‑network rates. In 2024, imaging costs after arbitration were 767% above Medicare benchmarks, far exceeding the roughly 200%...
NEW: P&C Commercial Tracker
Intelligence Council launched the P&C Commercial Tracker, a carrier‑level database focused initially on Florida commercial property. The platform catalogs 169 carriers across 90 parent groups and provides a baseline directory plus a weekly moves feed that records rate filings, appetite...
CVS Claims It’s on the Verge of Losing All Its Pharmacies in Tennessee
CVS Health warns that the Tennessee Fair Rx Act, now passed by the state Senate, would force it to shut down all more than 100 retail pharmacies and 25 MinuteClinic locations in the state. The bill bars companies that own...
AST SpaceMobile Loses $2 B Market Cap After New Glenn Launch Mishap
AST SpaceMobile saw its market value drop by about $2 billion after a Blue Origin New Glenn launch failed to deliver its satellite into the correct orbit, sending the stock down 14% in pre‑market trading. The setback highlights the volatility of space‑sector...
EY Survey Flags Climate Change, Data Ethics and Debt Crisis as Top Long‑Term Threats for Insurers
EY’s global insurance risk management survey of 106 carriers across EMEIA, the Americas and Asia‑Pacific identifies climate transition, data ethics and a potential debt crisis as the leading long‑term threats. The study also confirms cyber security remains the top near‑term...
Evolving Flood and Drought Patterns Are Reshaping Global Re/Insurance Risk: Aon
Aon’s 2026 Climate and Catastrophe Insight report warns that intensifying flood and drought events are reshaping global re/insurance risk. In 2025, worldwide flood losses exceeded $42 billion, while drought accounted for about $13 billion in damages. In the United States, pluvial‑flood risk...
Rising Hail Risk Poses Growing Threat to Solar Farm Insurability
A new white paper from Gallagher Re and AXIS warns that rapidly expanding solar photovoltaic farms are increasingly vulnerable to hail damage, which now accounts for 27% of global solar PV catastrophe losses. In 2025, severe convective storms generated $60 billion...
Supply-Demand Softening Property at a Pace “I’ll only Describe as Dumb” – Chubb CEO Greenberg
Chubb’s CEO Evan Greenberg warned that property insurance pricing is softening at a "dumb" pace, with rates in North America and London down 25‑30% in Q1. The insurer responded by non‑renewing a sizable share of layered and shared property business...
IPipeline Partnerships Expand Its Annuities Reach Among Advisors
iPipeline announced two technology integrations to broaden digital distribution of annuities and life insurance. The IX Express platform, built with FIDx, delivers a ready‑to‑use annuity workflow for small‑ and mid‑size broker‑dealers, cutting implementation time to weeks. Luma Financial Technologies launched...
Powerful Forces Driving the Evolution of the TPA Industry
A DCIIA/TRAU study of 18 senior TPA executives reveals a rapid industry transformation driven by a surge of new retirement plans, heightened client expectations, and fee compression. Simultaneously, a tightening labor market—boomers retiring and Gen Z demanding higher wages—forces TPAs...
PERILS Launches 2026 IED, Showing $150tn in Global Nat Cat Exposures
PERILS has released its 2026 Industry Exposure Database, quantifying $150 trillion of insured property assets exposed to natural catastrophes across 21 countries. The database shows a 4.7% year‑on‑year increase on a constant‑USD basis and a 15.2% rise at current exchange rates,...
IVF Insurance Coverage Depends on Your ZIP Code
Infertility affects roughly one in eight U.S. couples, yet access to in‑vitro fertilization (IVF) hinges on state insurance mandates rather than medical need. As of 2026, 25 states and the District of Columbia have some infertility‑insurance law, but only about...
Flora Fertility Raises $5M to Build Customer-Owned Reproductive Insurance
Flora Fertility announced a $5 million Series A round to expand its customer‑owned reproductive insurance platform. The funding will accelerate product development, grow the provider network, and increase user acquisition. By letting patients pool contributions and tying payouts to treatment outcomes, the...
House Bill Would Allow Hospice Patients to Receive Dialysis
U.S. Representatives Mike Kelly and Suzan DelBene introduced the Concurrent Care for Comfort Act, a bipartisan bill that would let hospice patients continue dialysis under Medicare. The legislation clarifies coverage and creates separate reimbursement for palliative dialysis provided by qualified...
Restrictions on Obesity Drug Coverage Force Patients to Pivot
Insurance giants CVS Caremark and other carriers are pulling popular GLP‑1 obesity drugs such as Zepbound and Wegovy from many formularies, leaving millions of patients without coverage. GoodRx data shows 12 million people lost Zepbound and another 12 million lost Wegovy between...
A $440,000 Breast Reduction: How Doctors Cashed In on the No Surprises Act and Arbitration
The No Surprises Act, passed in 2020 to shield patients from unexpected out‑of‑network bills, created a government‑run arbitration system that insurers must honor. Plastic surgeon Dr. Norman Rowe has leveraged that system to secure $440,000 payments for a single breast‑reduction surgery,...
Chubb Beats Q1 Forecasts as Catastrophe Losses Plunge 70%
Chubb Limited reported first‑quarter net income of $2.32 billion, topping Wall Street expectations, while pre‑tax catastrophe losses fell 70% to $500 million. The results underscore a rare low‑loss environment but also reveal pricing softness in property and financial lines.
Debanking, Crypto, and the Next Wave of D&O Exposure
Federal regulators, led by the OCC and FDIC, are eliminating “reputation risk” from bank supervision following the 2025 “Guaranteeing Fair Banking” executive order. The new guidance forces banks to base service decisions on measurable credit, liquidity, operational and legal risks,...
Micro-Captive Insurers Have a Small Victory in Court
The U.S. District Court for the Southern District of Texas ruled that the IRS exceeded its statutory authority by designating micro‑captive insurers as listed transactions. The court struck down the mandatory listed‑transaction filing requirement, though it allowed the IRS to...