Know What's Happening in Insurance
Know What's Happening in Insurance
U.S. doubles Hormuz maritime reinsurance guarantee to $40 billion
On April 3, the U.S. International Development Finance Corp. announced it is doubling its maritime reinsurance guarantee to $40 billion, adding AIG and Berkshire Hathaway to a consortium that already includes Chubb, Travelers, Liberty Mutual, Starr and CNA. The expanded program aims to restore confidence in shipping through the Strait of Hormuz, a critical chokepoint for global trade.
Santam Group has appointed veteran underwriter Nigel Tatlock as Head of Property for its newly launched Lloyd’s syndicate 1918, which received underwriting permission in late 2025 and will commence business on January 1, 2026. Tatlock arrives with more than four decades of experience, most recently leading worldwide property at Liberty Specialty Markets. He will spearhead the creation of a market‑leading global property book covering U.S. and international exposures through both open market and binder distribution. Recent hires across the property division underscore Santam’s aggressive talent build as it seeks a credible London presence.
Indonesia’s motor insurance market is projected to grow at a 5% compound annual growth rate, expanding gross written premiums from roughly $1 billion in 2026 to $1.3 billion by 2030. Growth is fueled by digital distribution, AI‑enabled underwriting, and the emergence of...
Deferred maintenance across U.S. public infrastructure costs roughly $1 trillion, and the broader built environment faces even larger hidden exposure. Insurers are now building proactive maintenance engagement platforms, exemplified by HelixIntel, to connect directly with policyholder upkeep activities. This operational integration...
S&P Global Ratings warns that the Middle East conflict could linger into early April, threatening the Strait of Hormuz and disrupting global supply chains. Insurers and reinsurers are likely to see rising claims in specialty lines such as marine, aviation,...
A Cotality analysis shows over 1.5 million Wisconsin homes are at moderate or greater risk of hail damage as aging roofs become brittle, projecting reconstruction costs of nearly $693 billion. Insurers are bracing for higher claims and may adjust premiums amid a...
The article warns CFOs that up to 40% of a Canadian company's assets sit in accounts receivable, yet fewer than 1% are protected by trade credit insurance. Insolvencies surged 41% in 2026—the sharpest rise in 36 years—exposing unprotected balances to...
A widening crisis is emerging as an increasing number of hospitals across the United States refuse to accept Medicare Advantage (MA) plans for oncology services. The trend is not limited to Florida; major academic and community hospitals nationwide are tightening...
UK insurer Covéa has selected Shift Technology as a strategic partner to overhaul its fraud detection and risk management across the entire insurance lifecycle. The AI‑driven platform will unify underwriting, claims and mid‑term policy adjustments, delivering explainable risk signals from...
On Jan. 1, 2026, the CPT Editorial Panel introduced three-tier radiation‑therapy billing codes, eliminating code 77014 and adding a professional‑component code. A survey of 160 ASTRO members shows more than two‑thirds experiencing payment drops of 10% or higher, with some cuts exceeding...
India’s group health insurance market is moving toward flexible, points‑based policies that let employees assemble personalized coverage from a menu of riders such as dental, vision, mental health and even pet insurance. Companies allocate a budget—about INR 15,000 (≈ $181) per employee—which...
The Pennsylvania Supreme Court held that a sole proprietor who is also the sole employee need only give a 120‑day workers’ compensation notice to the employer, not to the insurer. The ruling reversed a Commonwealth Court decision that had required...
ABL has signed a two‑year master services agreement with Maridive & Oil Services to provide marine assurance, risk support, and dynamic positioning (DP) services for its offshore fleet. The deal covers vessel inspections, audits, asset surveys, pre‑purchase assessments, DP assurance,...
Hamilton Insurance (HG) posted a surge in analyst optimism, with an average brokerage recommendation (ABR) of 1.88 and four out of eight firms issuing Strong Buy ratings. The bullish coverage comes as New Zealand's broader market slipped, highlighting a divergence...
Eric Tennant’s widow is leading a campaign to change state law after an insurance company initially denied coverage for his bile duct cancer treatment, only approving it when the disease had already advanced. The case highlights systemic gaps in how...
Researchers examined Italy’s auto‑insurance market to gauge how equalising information across insurers affects competition and consumer welfare. Using a structural model, they compared three scenarios: full transparency, a centralised risk bureau, and a privacy‑limited regime. Full transparency and the bureau...
West Virginia Governor Patrick Morrissey signed HB 4965, a law that lets members of the state workers’ health plan switch to an alternative, medically appropriate treatment of equal or lesser cost without filing a new prior‑authorization request. The change affects roughly...
Nineteen hospitals and health systems are terminating contracts with Medicare Advantage (MA) plans in 2026, citing chronic prior‑authorization denials and delayed reimbursements. The exits span major networks such as UnitedHealthcare, Humana, Aetna, and Anthem, affecting institutions from Mayo Clinic to...
In this episode, Scott Zambucci, Managing Director at NIA1, discusses how his background in ultramarathons and scaling tech firms informs his approach to accelerating innovation in regulated financial services. He explains NIA1's core offering—a secure, off‑estate digital sandbox that streamlines...
Ollie Super, an 8‑year‑old foster‑care child with recurrent neuroblastoma, was denied enrollment in a CAR T‑cell clinical trial because North Carolina’s new specialized Medicaid plan for foster children will not cover the treatment. The decision highlights systemic gaps in the...
Allstate has risen to tie with GEICO for the top mobile insurance app in Keynova’s Q1 2026 scorecard, marking its first appearance at the summit. Progressive and GEICO share leadership in the overall mobile user‑experience rating among the 12 largest U.S....
Carriers are formally excluding generative AI liabilities from commercial general liability policies, with Verisk/ISO endorsements taking effect on January 1, 2026. At least six major insurers, including WR Berkley, AIG and Great American, have filed AI exclusion endorsements with state...
Senator Edward Markey’s Commerce Committee report uncovers a stark lack of transparency among autonomous‑vehicle makers about their use of Remote Assistance Operators (RAOs). The investigation revealed that companies such as Waymo employ overseas RAOs, often without U.S. driver’s licenses, and...
A.M. Best downgraded the financial strength rating of Cities and Villages Mutual Insurance, a Wisconsin municipal insurer, to B++ from A‑. The agency also cut its long‑term issuer credit rating to BBB+ from A‑, shifting the outlook for financial strength...
A securities class action filed in January 2026 accuses Beyond Meat’s board and executives of misleading investors by failing to disclose a material asset impairment before the third quarter of 2025. Plaintiffs allege the company continued to tout cost‑reduction initiatives...
Spring brings a predictable surge in U.S. home‑insurance claims, driven by wind, hail, heavy rain, and thaw‑related plumbing stress. Mercury Insurance highlights five primary risks—roof damage, water‑related failures, clogged gutters, falling trees, and basement flooding—and offers a seasonal checklist to...
Elevance Health avoided immediate Medicare Advantage sanctions after CMS granted a deadline extension to May 30 to correct years of faulty risk‑adjustment data reporting. The regulator had warned that non‑compliance would trigger enrollment bans and communication suspensions for its MA...
April 1 renewals have extended the recent softening trend in the global reinsurance market, according to U.K.-based Howden Re. Risk‑adjusted property catastrophe rates‑on‑line have fallen back to levels last seen in the early 2020s. In Japan, reinsurers stayed disciplined, with...
In 2024, more than 21 million U.S. drivers—representing a 28% compound annual growth since 2018—are sharing telematics data with insurers, moving usage‑based insurance (UBI) from niche to mainstream. Trust has become the primary catalyst, with 53% of policyholders expressing high confidence...
U.S. remains the only OECD nation without a national paid family and medical leave (PFML) system, prompting many states to adopt either comprehensive PFML programs or voluntary private‑insurance models. While 13 states and Washington, D.C. have enacted universal PFML laws...
The Wet toekomst pensioenen (Wtp) reform has moved Dutch pension insurers into a decisive implementation phase, with regulators treating communication plans as binding operational commitments. Insurers possess strong actuarial and administration systems but lack a unified mechanism to translate approved...
PolicyStreet, a Malaysian InsurTech firm, closed a $21 million Series C round led by the Cool Japan Fund, bringing its total funding above $100 million and adding a second sovereign wealth fund investor. The capital will accelerate the company’s embedded insurance platform, targeting...
The pet boarding sector has shifted from basic kennels to upscale hospitality, raising client expectations and operational complexity. As services expand to grooming, medical care, and digital bookings, the range of potential liabilities widens dramatically. Comprehensive insurance—including liability, Care Custody...
Assemblymember Buffy Wicks and a bipartisan coalition introduced a half‑dozen bills, highlighted by AB 2166, that would let the state act as a re‑insurer for developers of factory‑built homes. The move seeks to break the financing “doom loop” that has...
Morningstar DBRS confirmed that First West Credit Union, now operating as Tru Cooperative Bank, received a federal charter effective April 1 2026. The agency left its BBB (high) long‑term issuer rating and R‑1 short‑term rating unchanged, though both carry negative trends. The...
At the recent AIFA conference, analysts reaffirmed that insurance fundamentals remain solid, driven by disciplined underwriting, adequate pricing in key lines and favorable demographic trends in life and retirement products. However, they warned that the sector faces a more complex...
Commercial drone operators often assume they are covered, but most general liability policies exclude aerial work, leaving them uninsured for core operations. App‑based insurance products frequently fail to meet contract‑specific endorsements, while hull policies omit high‑value payloads such as cameras...
MSIG Asia has taken an undisclosed equity stake in Singapore‑based travel insurtech Ancileo, forming a regional partnership to accelerate travel‑insurance distribution across Asia‑Pacific. The deal pairs Ancileo’s B2B2C platform—designed for seamless integration with airlines, OTAs and other travel sellers—with MSIG’s...
Alliance Captive Management (ACM) has launched its SportGuard programme, initially built for equestrian events, with a strategic plan to extend it across a broad spectrum of sporting venues. The captive‑backed solution offers a streamlined approach to managing participant accident exposure,...
Mortgage lenders are being urged to embed climate risk into underwriting as extreme weather events surge, threatening property values and insurance availability. In 2025, the United States experienced 23 billion‑dollar disasters, the third‑highest year on record, underscoring the financial stakes....
Artificial intelligence promises up to $1.1 trillion of annual value for insurers, reshaping how risk is quantified. Automation of routine calculations is freeing actuaries to focus on strategic risk insights, especially as pension annuity premiums surge to roughly $9.4 billion in 2025....
On 31 March 2026 APRA issued a response paper finalising amendments to the capital treatment of longevity products, introducing the optional advanced illiquidity premium (AILP). The regulator kept the proposed 45 % floor for the AILP and clarified terminology, referring to eligible contracts...
WebCE announced it is the first insurance continuing‑education provider to push completed credit hours to the NAIC State Based Systems platform in real time. The service, now active in 28 states, eliminates the multi‑day reporting lag that has long hampered...
Ardonagh’s newly launched pan‑European MGA, Orvia Underwriting, announced six senior appointments, including Paul Nolan as Chief Underwriting Officer, Werner Richter as Managing Director for Germany, Ivan Mullen as Chief Technology Officer, Caolán O’Callaghan as Chief Actuary, Sharna Bullen as Director...
Nebraska will become the first state to implement the work‑requirement provisions of President Trump’s One Big Beautiful Bill Act, forcing certain Medicaid expansion enrollees to prove 80 hours of work or volunteer each month. Bluestem Health, a safety‑net clinic in Lincoln serving 21,000...
Alternative reinsurance capital surged to a record $136 bn in 2025, an 18% increase year‑over‑year and a 10% jump in the fourth quarter alone. Total global reinsurance capital rose to $785 bn, up 3% from the previous year, while traditional reinsurance grew...
Radiologists, backed by the RBMA and ACR, have asked Noridian Healthcare Solutions to exempt the professional component of CPT 74177 (CT abdomen/pelvis with contrast) and CPT 72148 (MRI spine without contrast) from a new pre‑payment review. Noridian instituted the review citing high...
Gallagher Re’s April 1 reinsurance renewals show Japanese property catastrophe programmes ran loss‑free, prompting risk‑adjusted rate cuts of 15‑17.5%. Across other regions, property cat rates fell 7.5‑25%, accelerating the declines first seen on Jan 1. Buyers seized the soft market to reshape...
Gallagher Re’s April 1, 2026 renewal data show Japanese property catastrophe programmes achieved loss‑free results, prompting risk‑adjusted rate cuts of 15%‑17.5%. Across the rest of the world, property cat rates fell between 7.5% and 25%, marking the steepest declines since...
Citi’s latest report warns that digital transformation, especially direct‑to‑consumer (D2C) models, is fundamentally reshaping the insurance industry. By leveraging AI, data analytics, and IoT devices, insurers can streamline underwriting, claims and pricing while cutting intermediary costs. The shift promises higher...
Morningstar DBRS announced that its credit ratings are now eligible for use by Japan‑based insurance firms under the country’s new insurance solvency framework, which aligns with the global Insurance Capital Standard. The approval enables insurers to incorporate DBRS ratings into regulatory...
