Know What's Happening in Insurance
Know What's Happening in Insurance
Delaware Supreme Court revives insurers' breach‑of‑contract claims in Blackbaud cyber breach
The state's highest court reversed lower‑court dismissals, permitting insurers that covered Blackbaud's 2020 ransomware incident to pursue breach‑of‑contract claims against the nonprofit software provider. Blackbaud previously paid a $3 million SEC fine and $49 million to state attorneys general for misleading breach disclosures.
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 only 8% for the full year. The growth was fueled by strong retained earnings, mark‑to‑market gains, and fresh inflows into sidecars and catastrophe bonds. A weaker U.S. dollar relative to the euro amplified the dollar‑denominated valuation of these assets.
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...
CatIQ, Canada’s insured‑loss index provider, released its final estimate for the March 2025 ice storm that hit Ontario and Quebec, placing total insured losses at CAD $466 million (approximately US $345 million). This figure represents a 5% reduction from the September estimate of CAD $490 million,...
Dei Primus Holdings has launched LUCY Insurance, the first fully autonomous U.S. property‑casualty carrier. Built on a massive archive of claims and underwriting data from a distressed insurer, the AI‑driven platform handles underwriting, quoting, claims adjudication and payment without human intervention, except...
Fitch Ratings upgraded Athora Life Re Ltd. and its parent entities to an A+ Insurer Financial Strength rating and to an A long‑term issuer default rating, following the completion of its acquisition of Pension Insurance Corporation (PIC). The agency said...
The National Association of Insurance Commissioners (NAIC) has issued a nationwide data call to U.S. homeowners insurers, requiring ZIP‑code level information for policy years 2018‑2025. The request applies to carriers with at least $50,000 in relevant premium and covers policy...
Musculoskeletal disorders remain a major cost driver for U.S. employers, prompting a shift toward data‑driven ergonomic risk management. The Hartford leverages AI‑powered video analysis to generate numeric, color‑coded risk scores from short workplace recordings, offering a diagnostic tool that visualizes...
The Australian Parliament is set to pass legislation that will prohibit life insurers from using predictive genetic test results in underwriting, taking effect in about six months for all new life‑insurance contracts. The ban covers death, income protection, disability and...
Ukraine faces a massive reconstruction task estimated at $300 billion. McKinsey argues that unlocking private capital will require systematic risk‑reduction tools such as sovereign guarantees, insurance pools, and blended‑finance structures. The firm proposes a dedicated reconstruction fund, streamlined procurement, and a...
DNV released a position paper outlining how traditional risk‑management principles can be adapted to assure AI‑enabled systems in safety‑critical industries. The research emphasizes a continuous, lifecycle‑wide assurance model that captures the full AI ecosystem, from data and algorithms to human...
I saw this great map by @sequoia looking at the AI services opportunity. Insurance brokerage + claims adjusting: $250B - the largest category on the map. imo no other company has built the scale (licenses across 14 countries as a broker,...
The most constant complaint I've heard from LA wildfire survivors struggling to rebuild has been about problems with their insurance
Generative AI is reshaping property‑and‑casualty underwriting by accelerating quote turnaround, automating data‑driven decisions, and embedding capital‑allocation logic directly into the underwriting workflow. Insurers are moving from annual portfolio reviews to monthly or even weekly cycles, using AI to continuously align...
ClaimShield announced a new suite of safety and compliance services aimed at the more than 90% of U.S. trucking carriers that operate fewer than 20 trucks. The company says the tools will help these fragmented operators meet uniform regulatory expectations...
A group of war‑risk insurers, including Chubb, Fidelis and Lloyd’s, have won permission to appeal a London High Court decision that awarded aircraft lessor AerCap just over $1 billion in damages for jets stranded in Russia. The original claim sought roughly...
Generative AI, first introduced to underwriting in late 2022, has rapidly accelerated efficiency by automating data collection and triaging submissions. Recent AI agents now perform actions on behalf of underwriters, enabling continuous underwriting that flags real‑time changes such as a restaurant...
Mark Cuban has thrown his weight behind the Senate’s Break Up Big Medicine Act, which seeks to separate insurers, pharmacy‑benefit managers and providers that are currently owned by the same conglomerates such as UnitedHealth Group. The legislation would bar parent...
Utah’s regulator approved two new captives in March—Whitecap Assurance, LLC on March 3 and Cassandra Assurance, Inc. on March 24—bringing the state’s 2024 total to six formations. The approvals include Utah’s first licensed cell company, expanding the market’s structural options. Utah’s favorable...
Plenum Investments, a Zurich‑based ILS manager, has issued a position paper urging the European Commission to reject ESMA’s June 2025 recommendation to bar catastrophe bonds from UCITS funds. The paper highlights that UCITS currently hold over $19.12 billion of cat‑bond assets,...
Midsize mutual insurers are wrestling with the classic dilemma of protecting profitability and policyholder trust while modernizing their operations. Jennifer Overhulse outlines a four‑step roadmap—enhancing data quality, upgrading core infrastructure, forming MGA partnerships, and eventually launching a greenfield MGA—to boost...
The ILS Advisers Fund Index posted a 0.47% return for February 2026, marking a solid continuation of the year’s strong start after a 0.82% gain in January. Private insurance‑linked securities strategies, which invest in reinsurance and retrocession, outperformed the broader...
Neptune Insurance, the largest private flood insurer in the U.S., went public with a multibillion‑dollar valuation, showcasing that AI‑driven underwriting can make climate adaptation profitable. By blending satellite imagery and forward‑looking climate data, Neptune posted an 18% loss ratio during...
Shipowners are facing a surge in subjective injury claims, especially for pain and suffering, with some verdicts exceeding $10 million. Courts see more nuclear verdicts driven by emotional narratives and per‑minute suffering calculations. Traumatic brain injury cases are particularly complex, relying...
When enhanced premium tax credits lapsed, Florida's ACA marketplace members saw monthly premiums climb from $0.18 to $142, leaving patients like Kellie Brvenik to choose between life‑saving care and everyday expenses. The surge highlights the fragility of the individual market...
Kin Insurance is increasing the size of its Hestia Re 2026-1 catastrophe bond to between $325 million and $335 million, up from the original $300 million target. The bond will be issued in four tranches, providing fully‑collateralized named‑storm reinsurance for...
Global insured losses from severe convective storms (SCS) reached $208 billion over the 2023‑2025 period, with 85% of that exposure concentrated in the United States. In 2025 alone, SCS events accounted for nearly half of all natural catastrophe losses, totaling $60 billion,...
Cyber‑risk firm KYND warns insurers that U.S. privacy lawsuits tied to routine website tracking have surged from a few hundred to over 2,000 cases annually. The claims focus on marketing pixels and analytics tools rather than data breaches and can...
In August, the Trump administration ordered states to re‑verify Medicaid enrollment for individuals whose immigration status was unclear. Five states that reported back found only a handful of undocumented enrollees were removed, with Pennsylvania and Colorado terminating none, Texas 77,...
The Philippine Health Insurance Corporation (PhilHealth) will launch a Statement of Premium Account (SPA) Generator on April 1 for self‑paying members. Under the new “No SPA, No Payment” rule, members must create a QR‑coded SPA before any contribution can be processed....
InsurTech leaders are emerging ! → https://t.co/Mi6qREt2U8 This reflects the largest rounds announced recently, which happened to come from startups on the market for a while. https://t.co/WSCHzLUKG4
In this episode, Mark Gagan talks with Richard Milner, CEO of Chaucer Group, about the firm’s five‑year strategic plan (2026‑2030) and how it will focus on its core underwriting strengths while expanding its global footprint. Milner emphasizes a disciplined approach:...
Mary McNair, a 100‑year‑old homeowner, has filed a lawsuit against State Farm demanding full coverage for $30,000 in fire‑damage repairs after the insurer offered only $2,000. The dispute highlights tensions over policy interpretation and the treatment of elderly claimants.
A Joint Economic Committee report finds Medicare Advantage plans are being paid roughly 20% more than Original Medicare for comparable care, largely due to aggressive coding intensity and favorable selection. These overpayments trigger a mandatory Part B premium pass‑through, adding an...
Chameleon carriers—trucking firms that shed their identities to evade FMCSA violations—are re‑entering the market under new DOT numbers, masking prior safety issues. This recycled risk distorts insurers’ underwriting models, leading to unexpected losses and higher premiums across the industry. Regulators...
The American Hospital Association (AHA) responded to CMS’s Request for Information on the Comprehensive Regulations to Uncover Suspicious Healthcare (CRUSH) initiative, urging data‑driven, low‑burden regulatory changes. It called for stronger oversight of Medicare Advantage organizations and enhanced transparency tools for...
The Centers for Medicare & Medicaid Services reported that average out‑of‑pocket premiums for Health Insurance Marketplace enrollees jumped from $113 in 2025 to $178 in 2026, a $65 monthly increase. The rise follows the expiration of the enhanced premium tax...
The Centers for Medicare & Medicaid Services (CMS) finalized an Interoperability and Prior Authorization Rule that obliges payers to publish annual aggregated prior‑authorization metrics, with the first set due March 31 for calendar‑year 2025. The rule also shortens decision timelines to seven...
Willis Towers Watson’s retail broking arm unveiled a $50 million excess casualty facility aimed at filling the U.S. market’s shortage of large‑limit umbrella coverage. The Willis Excess Liability Lineslip offers up to $25 million of lead umbrella protection with an additional $25 million...
HealthFirst terminated Lorena Alvarado Hill’s health plan after a $0.01 unpaid premium, leaving the single mother in Melbourne, Florida, with unexpected medical bills. The case highlights how insurers’ administrative policies can abruptly strip vulnerable consumers of coverage.
Moody’s says P&C reinsurance profitability peaked in 2025 as European reinsurers benefited from lower catastrophe claims and strong investment returns. However, risk‑adjusted pricing fell in the 2026 renewals, and underwriting ratios are expected to drop 2‑4 percentage points. Life reinsurance...
The Friedlander Group promotes a New York Workers’ Compensation Safety Group for restaurants, bars and nightclubs that can slash premiums by as much as 57% through group discounts and dividend payouts. Since 1993 members have saved $244 million, with recent dividends...
The expiration of ACA premium tax credits, Medicaid funding cuts, and rising benefit costs are driving a sharp increase in self‑pay patients and higher out‑of‑pocket balances. Hospitals anticipate a 10‑15% rise in patient cost‑sharing and uncompensated care. Even commercially insured...
Vermont Governor Phil Scott signed House Bill 649, a statewide captive insurance update that bars risk retention groups (RRGs) from extending loans or making investments in their member‑owners or affiliates. The law also mandates quarterly financial statement filings for RRGs,...
Progressive Insurance has boosted its 2026 aggregate excess‑of‑loss reinsurance to $300 million, up from the prior year, by adding a $125 million catastrophe bond and renewing traditional limits. The cat bond, issued by Bonanza Re Ltd., covers losses between $550 million and $750 million...
Since Alberta introduced its captive statute in July 2022, the province has attracted 29 captive insurers, outpacing British Columbia and drawing increasing foreign interest. Legal and insurance experts say Alberta’s G7 status, diversified trade strategy, and flexible partnership‑based framework position...
The International Insurance Society’s 2026 Global Priorities Report shows artificial intelligence has become the top strategic focus for insurers, with 71% of executives naming it the leading issue across all business categories. Regulation now eclipses cybersecurity as the primary political‑legal...
