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:
Progressive’s Stock Beats S&P 500 Over 10 Years on Tech‑Driven Underwriting
Progressive (NYSE:PGR) has delivered returns that surpass the S&P 500 over the past ten years, thanks to disciplined underwriting, strong investment performance and technology‑enabled pricing. The insurer posted a combined ratio under 90% in 2025, EPS growth to $19.23 and a $13.50 per‑share dividend.
Comcast's $117.5M Data Breach Settlement Opens Claim Process for 30M Users
Comcast has launched the claims portal for its $117.5 million class‑action settlement, allowing more than 30 million eligible customers to seek payouts. Claimants can receive up to $10,000 for documented losses, $150 for time spent, or a flat $50 estimate, with a...
India Approves $1.4 Billion Maritime Insurance Pool
India has approved a 129.8‑billion‑rupee ($1.4 billion) guarantee for a new maritime insurance pool that will run for ten years, with a possible five‑year extension. The pool, backed by the government, will cover hull, machinery, cargo and war‑related risks, addressing a...
Insurtech Veteran Tamara Ashjian Urges Businesses to Prioritize Cyber‑Risk Awareness
Tamara Ashjian, a former vice‑president of cyber and technology claims at Tokio Marine HCC, is publicly urging businesses and individuals to treat cyber risk as a daily priority. Citing that more than 60% of small firms shut down after a...
Finance Chiefs Warn AI Models Could Destabilize Global Banking
International finance leaders warned this week that emerging generative AI models, notably Anthropic's Mythos, could expose systemic weaknesses in the global banking system. IMF, ECB, and central banks called for coordinated oversight as AI accelerates cyber‑risk vectors.
You Are in the 4%
The IRDAI annual report shows only 4% of India’s 1.4 billion population—about 60 million people—carry personal health insurance. Despite rising medical costs, crowdfunding for treatment has surged 2‑2.5 times since 2022, highlighting a financing gap. The author identifies four barriers to coverage: lack...
Subsidies Enrich Middlemen, Inflate Premiums, Close Clinics
The subsidy was never for your patients. It was for the middlemen. Paula Muto, vascular surgeon and founder of UBERDOC, lays out the healthcare math that explains why your Medicare Advantage patients are losing access, why your Medicaid reimbursement went...
Leverage IoT Data to Underwrite Emerging Risks
New risks? Use IoT data to insure them https://t.co/qUlbA7HxUl @CedarStResearch @jeffroth77 @GalenDShaffer @JimMarous @FGraillot @nigelwalsh @SpirosMargaris @jblefevre60 @robgalb @RonnoArnold @hedgequote @Nick_Lamparelli @antgrasso @hugues_bertin @globaliqx @psb_dc @an_battista
Captive Owners Adapt to Market Changes
Captive insurers are seeing continued growth in 2025, with 6,549 captives across 80 domiciles—a 3.8% rise over 2024. Marsh reported over 100 new captive formations and a 3.3% increase in gross written premium to $79.14 billion. Demand is expanding beyond traditional...
Bermuda Insurer Ratings Highlight Credit, Ownership Dynamics Affecting Companies
Litmus Analysis highlighted how Bermuda insurers’ ratings are shaped by market structure, ownership shifts, and rating‑scale nuances. A Lloyd’s syndicate’s credit risk is ultimately borne by the Lloyd’s market and its Central Fund, not individual policyholders. S&P placed Vantage‑group insurers...
Rising Convective Storm Losses Test Insurers as Property Rates Fall in Competitive Market
Severe convective storms have eclipsed hurricanes as the costliest insured peril in the United States, generating $50‑60 billion in annual losses. The high frequency and growing severity—driven by inflation, expanding urban exposure, and a surge in hail claims—are forcing primary insurers...
Insurers, Brokers React to Data Center Boom
The insurance industry is rapidly expanding capacity to cover the data‑center boom, driven by AI‑powered demand for massive computing power. Aon doubled its lifecycle program to $2.5 billion in January and added $1 billion in April, while FM Intellium lifted limits to...
Risk Professionals Grapple with Rapid Expansion of AI
Risk professionals are racing to keep pace with the rapid expansion of artificial intelligence, building governance structures, cross‑functional teams and clear usage policies to curb emerging threats. Insurers such as Arthur J. Gallagher, Axa XL and Zurich are adopting the NIST...
Insurers Warn Economic Pressure May Shift Claims Behavior and Boost Fraud Risk
UK insurers and brokers say a weaker economic outlook is likely to alter claims frequency and severity, heightening fraud risk and customer vulnerability. Executives stress the need for vigilant underwriting and robust anti‑fraud screening as inflation and supply‑chain issues already...
Blue Cross Blue Shield of Michigan Postpones Modifier 25 Policy in Response to Osteopathic Advocacy
Blue Cross Blue Shield of Michigan announced a postponement of its proposed modifier 25 reimbursement policy after coordinated advocacy from five osteopathic organizations. The delay aims to preserve accurate billing for evaluation and management services, especially osteopathic manipulative treatment, and to...
Vermont Captive Sues Reinsurers over Claims Linked to Church-Affiliated Entities
Gencon Insurance Company of Vermont, a captive insurer for Seventh‑day Adventist Church affiliates, has filed a lawsuit against its reinsurers, AIG’s Lexington Insurance Company and Swiss Re’s Westport Insurance Corporation. The complaint alleges breach of contract and violation of the...
Beyond Risk Launches Unified Health Benefits Funding Platform
Beyond Risk has introduced Beyond Health Partners, a unified health benefits funding platform that consolidates its stop‑loss, captive and cost‑containment businesses. The new platform integrates SL Management Partners, Captive Solutions & Options, and the Beyond Health captive team under one...
Co-Pay Models and AFPs Shift Costs but Raise Access Concerns: Patty Taddei-Allen, PharmD, MBA
Co‑pay accumulators, maximizers, and alternative funding programs (AFPs) are gaining traction as insurers and PBMs attempt to curb rising drug costs. While accumulators and maximizers keep the existing benefit design, they shift more out‑of‑pocket expenses onto patients. AFPs, by contrast,...
FY 2027 Hospice Payment Rate Update Proposed Rule Summary
On April 6, 2026 CMS proposed a rule that would raise Medicare hospice payments by about $785 million, a 2.4% increase for FY 2027, driven by a revised wage index and a new service‑spending variation index. The rule also requires hospices to...
Billyard Insurance Group Appoints Former Allstate Canada CFO Susan James to Steer Growth
Billyard Insurance Group (BIG) has named Susan James, former CFO of Allstate Canada, as its new chief financial officer. James brings more than two decades of carrier‑side finance experience to a brokerage that has expanded to 87 branches across four...
Alternatives to PAIN Act Raises Access and Market Stability Concerns: Adam Colborn, JD
At the AMCP annual meeting, officials discussed the Alternatives to PAIN Act, a proposal that would lower cost‑sharing and eliminate utilization restrictions for certain non‑opioid pain drugs under Medicare Part D. Associate vice‑president Adam Colborn warned that such mandates could destabilize the...
Building Risk Reflexes for Stronger, Faster, Smarter Internal Audit
Internal audit faces mounting pressure as risk environments become more complex and CEOs rate risk management over 50% more important. Gartner highlights a widening risk confidence gap—88% of owners are motivated but only 35% feel capable. To close this gap,...
6 Agentic AI Insurance Use Cases to Prioritize in Claims
Insurance carriers face pressure to shorten claim cycles, curb leakage, and boost customer experience while avoiding regulatory risk. Although AI tools have proven value in isolated tasks, most lack integration into core claim processes, limiting autonomous action. The article outlines...
What Is an Underwriter in Finance? Roles and Types Explained
Underwriters are the financial gatekeepers who evaluate and assume risk across mortgages, insurance policies, loans, and securities, charging fees for their expertise. In mortgages they verify borrower qualifications and property values, while insurance underwriters decide coverage based on risk factors....
BIBA Joins PEIA as Pet Insurance Faces Heightened Regulatory Scrutiny
The British Insurance Brokers' Association (BIBA) has become an honorary member of the Pet and Equine Insurance Association (PEIA), a move timed with the Competition and Markets Authority’s investigation into veterinary services and pet‑insurance pricing. The partnership aims to give...
Travelers Posts $1.7B Q1 Profit, Boosts Dividend and Share Buybacks
Travelers Companies posted a $1.7 billion core profit for Q1 2026, lifted its dividend by 14% to $1.25 per share and returned over $2.2 billion to shareholders. The results were driven by $1.2 billion underwriting income, lower catastrophe losses and a 9% rise...
CEO John Doyle Expects Marsh to Be an ‘AI Winner’
Marsh CEO John Doyle announced that the firm will become an “AI winner” by leveraging its scale to embed artificial intelligence across three pillars—growth, productivity and efficiency. The company is rolling out AI‑enabled products such as ADA, Centris, Euclid and...
AM Best Revises Florida Farm Bureau Group’s Outlook to Positive
AM Best has affirmed Florida Farm Bureau Group’s B++ financial strength rating and its “bbb+” long‑term issuer credit rating, while upgrading the outlook from stable to positive. The change follows a series of underwriting improvements, including rate hikes, stricter guidelines and...
Dark Matter Changes; Mfg. DPA, QC, AI, Data Decisioning Tools; A Strained Housing Market; Insurance/Climate Interview
The Mortgage Bankers Association’s conference highlighted a surge in mortgage‑servicing‑rights (MSR) multiples, now trading in the mid‑5x range, while the Senate’s 21st Century ROAD to Housing bill faces drafting errors and controversial FHA fund reallocations. Dark Matter Technologies announced Vikas...
Alabama Raises Captive Surplus Requirements, Introduces GAAP Reporting
Alabama Governor Kay Ivey signed House Bill 415 on April 15, raising surplus requirements for most captive insurers, mandating GAAP financial reporting, and requiring notification of material business‑plan changes. The legislation follows a September 2025 moratorium that halts new captive...
CMS Proposes Repeal of Add-On Payment Path for Breakthrough Devices
The Centers for Medicare & Medicaid Services (CMS) has proposed repealing the alternative pathway for new‑technology add‑on payments (NTAP) beginning in fiscal year 2028, restoring the requirement that all devices demonstrate a substantial clinical improvement. The alternative pathway, created in...
Eirion Risk Underwriters Launches Construction Professional Liability Program
Eirion Risk Underwriters has launched a Construction Professional Liability (CPL) program that offers annual, project‑specific and Owner’s Protective Professional Indemnity coverages. The product is backed by A+ XV‑rated capacity from Beazley at Lloyd’s of London, providing limits up to $10 million...
UK’s PRA to Continue Reforming ILS and Cat Bond Frameworks to Enhance Competitiveness
The Prudential Regulation Authority (PRA) announced that its 2026/27 business plan will keep advancing reforms to the UK insurance‑linked securities (ILS) and catastrophe‑bond frameworks. Building on earlier consultations, the regulator is targeting faster ISPV approval timelines—potentially as short as ten...
Differences in Solvency II Internal Model Asset Calibrations Still "Moderate to Significant"
The European Insurance and Occupational Pensions Authority (Eiopa) released a new study revealing that differences in Solvency II internal‑model asset calibrations across European insurers remain "moderate to significant." The analysis shows that divergent market‑ and credit‑risk assumptions can cause noticeable swings...
Liberty Specialty Markets Unveils Several New Appointments Within FinPro Division
Liberty Specialty Markets announced four senior underwriting appointments in its Financial and Professional Lines (FinPro) division, reshaping leadership across London and UK regional markets. Lucy Ling and Amanda Burnell will head D&O London and Professional Indemnity (PI) London respectively, while...
Insurance Costs Jump up to 17 Times Amid Middle East Conflict - MOF
Malaysia’s Ministry of Finance warned that the Middle East conflict has driven insurance premiums up to 17‑fold and shipping costs to triple, compounding the recent surge in petroleum prices. The heightened risk has forced vessels onto longer routes, inflating fuel...
Marsh McLennan Posts $7.6B Q1 Revenue, Risk Advisory Up 8%
Marsh McLennan announced first‑quarter 2026 revenue of $7.6 billion, an 8% year‑over‑year rise, driven by an 8% jump in its Risk & Insurance Services line. Consulting revenue, especially Mercer’s wealth‑management segment, also accelerated, while a $425 million litigation charge tempered net income.
Casely Reissues Recall of 5,000 mAh Power Pods After Fatal Plane Incident
Casely and the U.S. Consumer Product Safety Commission have reannounced a recall of its 5,000 mAh Power Pods power banks following 28 additional overheating incidents, among them a fatal explosion on a commercial flight. The recall now covers more than 429,000...
Kingstone Companies Launches California Homeowners Business on E&S Line with ZestyAI AI Modeling
Kingstone Companies announced a California homeowners entry on an excess‑and‑surplus (E&S) line, teaming with ZestyAI to apply AI‑driven wildfire risk models. The insurer will retain a 30% quota share to limit net exposure while scaling the new business.
Twelve Securis and Bank J. Safra Sarasin Extend Distribution Partnership to Italy and Spain
Twelve Securis, a specialist in catastrophe bonds and insurance‑linked securities, has expanded its long‑standing distribution partnership with Bank J. Safra Sarasin to include Italy and Spain. The collaboration, dating back to 2011, already produced co‑branded funds such as the JSS Twelve Sustainable...
Medicare Can Save $4 Billion On Four Cancer Drugs – Can You Guess Which Ones?
The Inflation Reduction Act authorizes Medicare to negotiate drug prices, starting with ten high‑spending products and expanding each year. By targeting four oncology drugs—Pomalyst, Ibrance, Xtandi and Imbruvica—Medicare could save over $4 billion, with Imbruvica alone offering more than $1 billion in...
After 25 Years Of Consumer-Directed Healthcare, What’s Missing?
After two decades of consumer‑directed health policies, the market still lacks the tools needed for patients to act as shoppers. While price‑transparency rules and AI‑driven APIs exist, most care decisions remain embedded in provider referrals and opaque benefit designs, limiting...
How Is AI Rapidly Transforming the Insurance & Financial Services Sectors
Artificial intelligence is reshaping South Africa's insurance and financial services, accelerating claims handling, underwriting and customer interaction through chatbots, AI‑driven fraud screening and deep‑fake detection. Adoption remains uneven: banks have embraced AI at a 52% rate, while insurers lag at...
Former Verisk CEO Stephenson Joins ZestyAI’s Board of Directors
ZestyAI, an AI‑driven insurance risk analytics firm, announced that former Verisk Analytics chairman, president and CEO Scott Stephenson has joined its board. Stephenson spent over two decades at Verisk, guiding the company through a market‑cap surge that more than quadrupled...
Uninsured Drivers Now the New Baseline, Says IAA Veteran
Former Board Member at IAA believes the high rate of uninsured drivers is the new base unless there is more regulatory change $CPRT
Captive Insurance Identified as a Financing Mechanism Supporting Renewable Energy Growth: AXA XL
AXA XL released the report "Future Energy Finance: How Captives are Powering Renewable Growth," highlighting captive insurance as a pivotal financing tool for the accelerating renewable‑energy transition. The study notes that by 2030 global renewable capacity could add 4,600 GW, with...
Beazley Plans $1B Marine War Consortium for Transiting Strait of Hormuz
Beazley, a specialty Lloyd’s insurer, announced a $1 billion marine war consortium to cover vessels and cargo transiting the Strait of Hormuz. The program splits capacity evenly between hull war and cargo war, each with $500 million, and will be led by...
Global Insured Losses From Natural Disasters Expected to Hit $20bn in Q1 2026
Global insured losses from natural disasters are projected to reach $20 billion in the first quarter of 2026, according to leading catastrophe modelling firms. The estimate reflects a surge in severe weather events, with tropical storms and flooding accounting for the...
Aon Estimates Q1’26 Global Insured Catastrophe Losses of $20bn at Least
Aon reported that global insured catastrophe losses reached at least $20 billion in Q1 2026, 6% above the 21st‑century average, while total economic losses fell to $37 billion, the lowest since 2015. The United States contributed over 75% of insured losses, driven mainly...
Hashgraph and The Institutes Deploy Hedera‑Based Portal to Modernize Property Risk Data
Hashgraph and The Institutes RiskStream Collaborative have launched a Hedera‑powered property risk data solution that creates a single, verifiable source of truth for insurers, brokers and reinsurers. The hybrid ledger aims to cut manual data handling and tokenise risk assets,...