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:
EP506: How Other Employers, Shareholders, and Clinics Are Using Price Transparency Data—And It's an Arms Race, With Jerry DiMaso
In this episode, Stacey Richter talks with Jerry DeMasso, CEO of Payerset, about how price‑transparency data is reshaping the healthcare market for self‑insured employers, plan sponsors, and clinical organizations. DeMasso explains three key insights employers can gain: benchmarking against competitors, pinpointing high‑cost billing codes, and exposing inflated discount claims, which can be leveraged to renegotiate with TPAs, carve out services, and model alternative plan designs. He also shows how providers can use the same data to benchmark rates, discover new payer contracts, and justify rate increases with quality metrics, leveling the playing field against large carriers. The discussion highlights the rapid evolution of transparency mandates since 2016 and the emerging "arms race" as stakeholders scramble to turn data into cost‑saving strategies.
Florida Peninsula Raises Palm Re 2026-1 Cat Bond Target Again, to $250m
Florida Peninsula Insurance Company has raised the target size of its Palm Re Ltd. Series 2026-1 catastrophe bond to $250 million, marking a second increase since the deal’s launch. The insurer also cut the price guidance for the Class A notes to...
For-Profit Hospital Chain Never Put Aside Money for Malpractice Insurance to Compensate Injured Patients
Prospect Medical, a private‑equity‑backed for‑profit hospital chain, filed for bankruptcy in January 2025 after a debt‑laden expansion left it unable to fund malpractice insurance. Court filings reveal the company never set aside reserves to cover legal defenses or settlements, leaving...
Cat Bonds & ILS Can Exhibit Positive Yield Sensitivity in Inflationary Environment: Leadenhall
Leadenhall Capital Partners explains that catastrophe bonds and private insurance‑linked securities (ILS) can generate higher yields in an inflationary environment. The floating‑rate component of these instruments is linked to base rates, which rise as inflation expectations increase. Higher replacement costs...
First Up & Down Chart 2024–2025: Solvency II SCR Ratios for 20 EU & UK Groups
Solvency II Wire released the first “Up & Down” chart comparing Solvency II SCR ratios for 20 European and UK insurance groups between 2024 and 2025. The visual ranks firms by percentage change in their SCR ratio, highlighting capital‑strength shifts...
Inside Swiss Re’s AI Strategy: Faster Claims, Smarter Insights, Better Outcomes
In this episode, Peter Hai talks with Praveena Ladva, Swiss Re’s Group Chief Digital and Technology Officer, about how the reinsurer is leveraging data and AI to transform core insurance processes such as claims and underwriting. Ladva explains Swiss Re’s...
Weaker Economy Drives Surge in SMEs Seeking Protection Against Bad Debt
Bibby Financial Services reports a sharp rise in UK SMEs seeking Bad Debt Protection as unpaid invoice balances climb to an average of $83.5k, a 10% year‑on‑year increase. About 30% of firms have written off roughly $37.5k each due to...
Antitrust: The Implications of Regulatory Termination Fee Insurance
Regulatory Termination Fee (RTF) insurance is an emerging product that moves the risk of reverse termination fees from buyers to insurers. The policy’s premium is typically modest, leaving buyers only a small deductible. By insulating buyers from the full fee,...
Michael J. Epstein: No Forewarning Necessary? The AI Line the Courts Are Drawing—And Why It Won’t Stay Put
Gartner’s latest report warns that AI-related incidents are accelerating, with "death by AI" lawsuits projected to surpass 2,000 worldwide by the end of 2026. Traditional commercial policies are increasingly carving out AI liabilities, leaving firms exposed to costly claims. To...
The BALANCE Model, GLP-1 Coverage, and the Peptide Regulatory Collision: What Every Health Tech Operator and Investor Needs to Know...
CMS launched the BALANCE Model, a voluntary 1115A demonstration that waives the Part D exclusion on weight‑loss drugs and negotiates a net price of $245 per month for GLP‑1s such as Zepbound, Ozempic and Wegovy. To trigger a Medicare rollout...
Only 18% APY Justifies On‑Chain Risk
Back in peak DeFi farming days you’d think about APY as how many days it would take to recoup principal with the yield. That’s how risky it felt and that same rigor should be applied when thinking about interacting onchain today. Yes,...
OPM to FEHB Carriers: Cut Costs, MAHA Style
The Office of Personnel Management (OPM) sent its 2026 call letter to Federal Employees Health Benefits (FEHB) and Postal Service Health Benefits carriers, urging a shift toward "well‑care" initiatives that emphasize preventive health, mental wellness, and patient‑centered decision‑making. The notice...
CMS Releases Guidance on Limits to Medicaid, CHIP Funding for Certain Noncitizens
The Centers for Medicare and Medicaid Services (CMS) issued guidance on April 8, 2026 to implement a provision from the July 2025 reconciliation bill that limits federal matching funds for full Medicaid and CHIP benefits. Starting October 1, 2026, federal match will be available...
Insurer Can’t Sue Its Own Defense Lawyers for Malpractice: Court
A Washington appeals court ruled that a liability insurer cannot sue its own defense lawyers for malpractice. The decision reversed a lower court ruling, emphasizing that defense counsel’s duty lies solely with the insured, not the insurer. Great American E&S...
5 Stocks to Add From the Prospering P&C Insurance Industry
The Property & Casualty (P&C) insurance sector is entering a phase of softer pricing but remains buoyed by prudent underwriting, exposure growth, and rapid digital adoption. Despite a challenging catastrophe environment, insurers benefit from a favorable investment portfolio and a...
Insurer Must Cover Mental Health Facility in Sex Harassment Case: Court
A federal appeals court ruled that Allied World Specialty Insurance must defend American Behavioral Health Systems against sexual‑harassment allegations, rejecting the insurer’s claim that a policy exclusion for sexual abuse barred coverage. The 9th U.S. Circuit held that a complaint can...
Unpaid Tourist Medical Bills Push Thailand Toward Mandatory Insurance Rule
Thailand is weighing a rule that would require foreign tourists to carry accident insurance upon entry after public hospitals report growing losses from unpaid treatment costs. The Ministry of Public Health estimates unpaid bills from uninsured visitors exceed 100 million baht...
HaystackID Named Finalist for Intelligent Insurer’s Cyber Insurance Awards USA 2026 in Two Categories
HaystackID has been named a finalist in two categories of Intelligent Insurer’s Cyber Insurance Awards 2026, recognizing its VALID™ suite and overall cybersecurity solutions. The awards, now in their third year, spotlight firms that help insurers and insureds manage escalating...
What Insurers Want to See: Practical Steps to Reduce Your Cyber Insurance Costs
Law firms that adopt measurable cybersecurity practices can lower cyber‑insurance premiums and secure more favorable policy terms. Insurers now price risk based on behavior—such as multifactor authentication, password hygiene, and employee phishing training—rather than merely cataloguing technology stacks. Ongoing system...
Marsh Risk Raises Capacity in Excess Cyber Facility
Marsh Risk announced a $1.5 billion increase in capacity for its excess cyber insurance facility, expanding coverage for large‑scale cyber events. The boost, underwritten with Lloyd’s syndicate and Munich Re, adds a $250 million aggregate limit per event and targets mid‑size enterprises...
Ontario Moves to Expand Injury Coverage Under WSIB
Ontario’s government has tabled legislation to extend Workplace Safety and Insurance Board (WSIB) coverage to private residential care, retirement homes and group homes, adding roughly 29,000 frontline care workers to the safety net. The move would standardize protections for personal...
Most Owners Willing to Insure Less of Their Property to Cut Costs: Nationwide
Nationwide’s 2026 survey of commercial‑real‑estate owners reveals a growing willingness to trim coverage in order to curb soaring insurance premiums. More than half of respondents said they would consider insuring less of their property, up 13 points from the previous...
Another State, Tennessee, Warns Insurers About the Proper Use of Drone Images
The Tennessee Department of Commerce and Insurance issued a bulletin warning insurers that drone and satellite images cannot be the sole basis for claim or non‑renewal decisions. Insurers must verify roof conditions with physical inspections or other data when aerial...
Facultative Reinsurance Expands Role in Asia Pacific as Insurers Pursue Growth and Stability: Aon
Aon’s Q1 2026 analysis shows facultative reinsurance usage climbing across Asia Pacific as insurers chase growth and hedge volatility. The flexible cover enables higher limits and entry into emerging sectors such as data centres, renewable energy, and war‑risk marine cargo....
Insurer Must Defend Doctor Accused of ‘Fertility Fraud’
A Connecticut appellate court reversed a lower‑court decision, requiring medical‑malpractice insurer Integris Insurance to cover the defense costs of Dr. Narendra Tohan, accused of using his own sperm in IVF procedures without patient consent. The court found the insurer had...
AI Training Surges Across Organizations, but Governance Frameworks Lag Behind
Organizations are rapidly scaling AI adoption, with 62% of global firms delivering AI training and 55% hiring AI‑focused talent, according to Gallagher’s 2026 AI Adoption and Risk Survey. Productivity gains are evident—86% of respondents say AI has boosted employee efficiency....
Skilled Nursing Facilities Get a Proposed 2.4% Increase
The Centers for Medicare & Medicaid Services (CMS) has proposed a 2.4% increase to the Skilled Nursing Facility Prospective Payment System for fiscal year 2027, derived from a 3.2% market basket adjustment offset by a 0.8% productivity factor. Facilities that...
National Emphasis Program for Heat Safety Expires
The Occupational Safety and Health Administration’s national emphasis program on heat safety will expire on April 8, ending a year‑long effort that generated roughly 7,000 inspections of high‑risk workplaces. The program, launched in 2022, allowed OSHA to target heat‑related hazards...
Eiopa Sets Out Technical Specifications for Small and Non-Complex Insurers
The European Insurance and Occupational Pensions Authority (Eiopa) has published detailed technical specifications aimed at small and non‑complex insurers across the EU. The guidelines outline streamlined reporting templates, risk‑assessment methodologies, and proportional supervisory expectations. They also introduce a simplified Solvency...
The Baldwin Group Launches Member-Owned Captive for Construction Clients
The Baldwin Group, together with Innovative Captive Strategies, has launched Azimuth Re, Ltd., a member‑owned group captive designed for construction firms. The captive targets contractors that spend $250,000 or more each year on workers’ compensation, general liability and auto premiums...
ICHRAs, a Growth Opportunity for Insurers, Face Uphill Battle
Individual Coverage Health Reimbursement Arrangements (ICHRAs) are gaining traction as insurers search for growth amid stagnant commercial plan enrollment. Adoption jumped 19% from 2024 to 2025, with a 34% surge among large employers, prompting payers like Centene and Oscar to...
Insurers Must Redesign for Autonomous AI, Not Upgrade Legacy
Most insurers think they’re getting ready for AI. They’re not. They’re preparing for a version of AI that improves yesterday’s operating model, not one that reshapes tomorrow’s business. That’s the mistake. The real shift in insurance is not about layering AI onto existing workflows....
India Plans $1.5B Reinsurance Cover for Ships in Conflict Zones
India’s government has announced a $1.5 billion reinsurance program to protect commercial vessels operating in high‑risk conflict zones such as the Red Sea, Gulf of Aden and Black Sea. The scheme will be underwritten by a mix of domestic insurers and...
Parametrix Delighted by Investor Support for Hannover Re Parametric Cloud Outage Cat Bond: Haran
Hannover Re has renewed its Cumulus Re (Series 2026-1) parametric cloud‑outage catastrophe bond, increasing retrocessional cyber‑reinsurance capacity to $35 million, up from $20 million in the 2025 issuance. The bond, designed by Parametrix Analytics, uses a parametric trigger based on sustained downtime...
US Cyber Breach Costs Hit Record $10.2 Million as AI Accelerates Attack Timelines
The 2026 Chubb Cyber Claims Report shows U.S. data‑breach costs soaring to $10.2 million on average in 2025, more than twice the global figure. AI‑powered malware now compromises networks in minutes, while AI‑driven defenses have kept incident frequency steady in some...
Fuse Introduces Contractors and Construction Vertical to Expand Insurance Intelligence Platform
Fuse, an AI‑driven commercial insurance intelligence platform, has added a Contractors and Construction vertical that aggregates real‑time data across General Liability, Workers’ Compensation, Builder’s Risk, Surety, Professional Liability and Pollution lines. The launch follows a surge of three $10 million‑plus verdicts...
Franklin Templeton: No Evidence of Weakening Fundamentals in Cat Bonds, Stays Overweight
Franklin Templeton Investment Solutions kept its overweight stance on catastrophe bonds, noting that despite compressed yields and spreads, the asset class remains fundamentally sound. Q1 2026 saw a record $6.7 bn of cat‑bond issuance across 35 transactions, with new and repeat sponsors...
Jefferson Health Sues Aetna over Medicare Advantage ‘Downcoding’ Policy
Jefferson Health and Lehigh Valley Physician Hospital Organization have filed a federal lawsuit against Aetna, alleging that the insurer’s new “downcoding” policy unlawfully reduces Medicare Advantage inpatient payments. The policy classifies 1‑4 night admissions as low‑severity and reimburses them at...
Act-of-War Clauses Cloud Cyber Insurance Coverage
Geopolitical tensions are prompting insurers to insert act‑of‑war exclusions into cyber policies, a provision traditionally used in homeowners and travel insurance. The language lags behind the rapid evolution of cyberwarfare, leaving companies uncertain whether state‑sponsored attacks are covered. Lawyers and...
Marsh Risk’s Cyber ECHO Facility Now Offers up to $200m of Insurance Capacity
Marsh Risk has expanded its Cyber ECHO facility to offer up to $200 million of insurance capacity, making it the largest cyber‑risk facility worldwide. Launched in 2016, the platform now supports more than $55 billion of coverage for over 1,500 clients across...
FTC Approves E. Sun Financial's Acquisition of Mercuries Life
Taiwan's Fair Trade Commission approved E. Sun Financial Holding's acquisition of Mercuries Life Insurance, concluding the deal poses no competition risk. The transaction, a share‑swap valued at roughly NT$48.3 billion (about US$1.52 billion), was announced in January and awaits closing in the...
ARPC Cyclone Reinsurance Pool Claim Payments Exceed $1bn
Australian Reinsurance Pool Corporation (ARPC) has paid more than AU$1 billion (≈US$660 million) in cyclone reinsurance claims since the pool launched in July 2022. The payouts cover 20 declared cyclones and support households, small‑medium enterprises and strata owners across northern Australia. Created...
Nick Abraham of Amwins Global Risks Talks to Risk & Insurance
Nick Abraham, CEO of Amwins Global Risks, said North American property insurance rates are dropping 15%‑20% after five years of gains, prompting clients to revisit coverage limits. He highlighted the London market’s syndicated capacity as a cost‑effective option for large,...
Indian April 1 Renewal One of the Most Competitive in Recent Years: Guy Carpenter
India’s insurers enjoyed one of the most competitive April 1 renewal cycles on record, with risk‑adjusted rates dropping 20‑30% for non‑proportional excess‑of‑loss (XoL) lines. The softening was driven by a surge in local reinsurance capacity, especially after the establishment of GIFT...
GAO: Wind Risk Linked to Larger Insurance Premium Jumps Than Wildfire
The Government Accountability Office released a report showing wind risk drives far larger homeowners‑insurance premium jumps than wildfire. Between 2019 and 2024, homes in severe or extreme wind zones pay about 58 % more—roughly $1,294 annually—than those in major wind areas,...
Strong Underwriting, Investment Income Bolster P/C Income in 2025, Says Moody’s
Moody’s analysis of twenty U.S. property‑casualty insurers shows net income surged 29% to $69 billion in 2025, driven by stronger underwriting and higher investment returns. The group’s combined ratio improved to 88.4 from 91.7, reflecting lower catastrophe losses that fell 9%...
From Volatility to Value: How Carriers Can Build Durable Growth
EY Americas insurance leader Jeff Gill warns that growth in today’s insurance market can no longer rely on cyclical upswings. Structural volatility—driven by softening P&C premiums, social inflation, tighter capital and regulatory pressure—requires carriers to make deliberate, disciplined choices. He...
Marine Insurers Say Heightened Risks Remain in the Gulf
Marine insurers welcomed the cease‑fire announced by President Donald Trump and Iran, but warned that normal shipping through the Gulf will not resume immediately. Lloyd’s Market Association’s Neil Roberts said underlying tensions remain, keeping the Strait of Hormuz at heightened...
Rising U.S. Legal Volatility Undermines Insurers’ Ability to Price Risk: Swiss Re’s Ningen
Swiss Re’s U.S. P&C chief Monica Ningen warned that escalating legal volatility is eroding insurers’ ability to price risk. Commercial liability losses surged to $143 billion in 2023, outpacing natural‑catastrophe losses. The frequency of "nuclear" verdicts—awards over $100 million—rose 33% from 2022,...
Climate and Sustainability Roundup: Policy Push Progresses on Protection Gaps
Swiss Re reports the global insurance protection gap fell to a record low in 2025, with 49% of the estimated $220 bn in natural‑catastrophe losses covered by insurance. The improvement reflects stronger industry participation, yet large uninsured portions persist, especially in...