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:
Iran Unveils Crypto Insurance Regime for Hormuz
Iran announced a new insurance‑based regime called Hormuz Safe to manage transit through the Strait of Hormuz, issuing blockchain‑verified marine policies payable in Bitcoin. The scheme requires vessels to file a mandatory Vessel Information Declaration with the newly created Persian Gulf Strait Authority, revealing cargo, origin and route details. Iran estimates Hormuz Safe could generate over $10 bn in revenue, while the International Revolutionary Guard Corps Navy enforces the declaration requirement. The move has been condemned by a UN resolution as illegal under customary maritime law, adding uncertainty for global oil shippers.
AI Is Transforming Insurance Underwriting, Report Finds
AI in insurance: how technolgy is reshaping the underwriting function ? → https://t.co/7DZRLbwbfx This is what Bain & Capital explored in a recent report. https://t.co/pNbaShixNn
Democratic Bills Aim to Sue Oil Firms Over Property Insurance Crisis
Democratic legislators in three states have filed bills that would let insurers or state attorneys general sue oil companies to recover costs tied to soaring property insurance premiums. The proposals, still pending, signal a new legislative strategy to link climate‑driven...
Nigeria's NAICOM Forms Six‑Man Committee to Guard Insurance Policyholders’ Fund
Nigeria’s insurance regulator NAICOM has appointed a six‑person committee to oversee the Insurance Policyholders Protection Fund (IPPF). The body will enforce contributions, manage assets and ensure timely payouts for distressed insurers, a move meant to bolster market credibility amid rapid...
Africa Re Says Weak Insurance Markets Are Slowing the Continent’s Industrialisation
Africa Re, Africa’s biggest reinsurer, warned that weak insurance markets are hampering the continent’s industrialisation agenda. The firm highlighted systemic capacity shortfalls and low penetration as a hidden drag on investment and growth, urging policymakers to address the gap.
EverQuote Targets $1 B Revenue as Insurers Return to Digital Growth
EverQuote (NASDAQ:EVER) announced a $1 billion revenue goal, citing a resurgence of property‑and‑casualty carriers that are now prioritizing policy growth over rate hikes. CFO Joseph Sanborn said the shift is opening digital channels and expanding the company’s addressable market.
Twickenham Film Studios and Miller Insurance Launch FCA‑Regulated Referral Service for Producers
Twickenham Film Studios and Miller Insurance Services have launched Twickenham Investment Services, an FCA‑regulated introducer that connects film and TV producers with specialist insurance brokers. Unveiled at the Variety International Movie lunch in Cannes, the referral‑only platform promises faster, more...
Travel Insurance Covers Only Half of Vacation Risks, Experts Urge Adding VPN Protection
Travel insurers protect against medical emergencies and lost luggage, but they leave digital threats uncovered, according to consumer‑tech analysts. Adding a low‑cost VPN such as Surfshark, priced at $1.99 per month, can safeguard travelers’ data abroad. The recommendation highlights a...
Editorial Endorses Ben Allen for California Insurance Commissioner Amid Home‑Insurance Crisis
The Sacramento Bee editorial board has thrown its support behind State Senator Ben Allen for California insurance commissioner, citing his legislative record and system‑wide plan to curb exploding home‑insurance premiums. The endorsement comes as insurers retreat from wildfire‑prone areas and...
Vice President JD Vance Pushes Nationwide Fraud Crackdown, Targeting Medicaid and Federal Programs
Vice President JD Vance, dubbed the administration’s “fraud czar,” used a campaign stop in Maine to demand a stronger federal crackdown on fraud affecting Medicaid and other programs. He warned that taxpayers have been “fleeced” and signaled that insurers could...
DB Insurance Q1 Profit Falls 28% as Sales Jump 16% to $4.4B
DB Insurance Co., Ltd. posted a 28.6% drop in profit before tax to 459.5 billion won ($345 million) for Q1 2026, while revenue rose 16.2% to 5.78 trillion won ($4.44 billion). The mixed results underscore tightening underwriting cycles and rising cost pressures in South...
Texas Children’s Hospital Pays $10 Million, Launches Detransition Clinic in DOJ Settlement
Texas Children’s Hospital settled with the Department of Justice and Texas Attorney General Ken Paxton for $10 million over alleged Medicaid fraud, agreeing to stop gender‑affirming procedures for minors and to open a clinic for detransition patients. The deal signals heightened...
Berkshire Hathaway Expands Risk Analysis with AI
Berkshire Hathaway’s Greg Abel and Ajit Jain on how AI is being used in its insurance business. “[Our] traditional underwriters-might look at the 5 largest risks-using [AI], we might look at the top 15 risks and have a strong view on...
CCIR Unveils $0 Plan to Tackle Cyber, Climate and AI Risks in Canadian Insurance
The Canadian Council of Insurance Regulators (CCIR) released a three‑year strategic plan on May 12, 2026 that prioritizes risk monitoring, supervisory alignment and governance overhaul to address cyber, climate and artificial‑intelligence risks. The roadmap, backed by the Office of the...
Geopolitical Tensions and AI Redefine Insurance Risk Landscape
Davies and its subsidiary Asta warn that geopolitical fragmentation, rapid AI adoption, and London market modernization are creating a more interconnected risk environment in 2026. Executives say the shift opens new specialist product opportunities while demanding deeper analytical capabilities.
IRDAI to Issue Discussion Paper on Overhauling Insurance Distribution Rules
The Insurance Regulatory and Development Authority of India (IRDAI) will publish a discussion paper in the coming weeks to overhaul distribution regulations, focusing on bancassurance and agency commission structures. The move follows concerns that commission payouts are rising faster than...
CMS Finalizes Removal Of Standardized Plan Options, Non-Network Plans Addition In 2027 Exchange Rule
The Centers for Medicare & Medicaid Services (CMS) issued its 2027 health‑insurance exchange rule, stripping away the long‑standing standardized plan requirements and opening the marketplace to non‑network insurers. The rule also expands catastrophic‑only plans, giving consumers lower‑cost entry points. These...
Alex Murdaugh’s $10 Million Life‑Insurance Fraud Scheme Resurfaces Amid Murder Conviction Overturn
New reporting has brought the alleged $10 million life‑insurance fraud scheme linked to former South Carolina lawyer Alex Murdaugh back into focus. The scheme, tied to an assisted‑suicide attempt, is now being examined alongside the recent overturning of his murder convictions,...
Best Arizona Contractor Coverage Options for Construction Firms
Arizona construction firms face rising insurance costs and strict regulatory mandates, with general liability required for licensing and workers’ compensation enforced by daily fines of up to $500. Premiums for general liability and builder’s risk have climbed 7‑12% heading into...
Floods and Finance: Why Climate Change Will Become a More Pressing Economic Problem for UK Households
Climate change is turning flood risk into a looming financial crisis for UK households. An estimated 430,000 homes could become “climate mortgage prisoners” by 2050, unable to insure, remortgage, or sell. Flood‑exposed properties already affect 6.3 million homes, a figure projected...
Sixfold Expands Distribution of AI Underwriting Platform Through Microsoft Marketplace
Sixfold, an AI underwriting platform for insurers, is now offered through Microsoft Marketplace, enabling direct purchase and deployment within Azure. The integration aims to streamline procurement, shorten implementation cycles, and leverage insurers' existing Azure investments. Sixfold says the marketplace listing...
NH House Passes Self-Insurance for Childcare, Behavioral Health Businesses
On May 15, 2026, the New Hampshire House approved Senate Bill 614, which creates multiple‑caregiver self‑insured risk coverage arrangements for childcare, foster‑care and behavioral‑health providers. The legislation lets two or more providers pool contributions into a fund managed by the...
Ontario DB Pension Solvency Snaps Two-Quarter Record Streak in Q1
Ontario’s defined‑benefit pension plans saw their median solvency ratio dip to 122% at the end of Q1 2026, ending a two‑quarter streak of record‑high ratios. Fully funded plans on a solvency basis fell to 90% from 92% in the prior quarter,...
Willis and Cornell University Collaborate on Research Into Correlated Catastrophe Risk
Willis, the global insurance broker, has launched a one‑year research partnership with Cornell University and the Atkinson Center for a Sustainable Future to study correlated natural catastrophe risk. The project will examine whether perils such as hurricanes, wildfires and severe...
SCOTUS Ruling Triggers 9x Insurance Surge for Brokers
TD after SCOTUS: "Well-capitalized, high-compliance asset players gain most. Large, compliant brokers could benefit as smaller non-compliant brokers exit." Predicts a massive squeeze on insurance for brokers, and believes brokers will pay similar rates to asset-carriers in the future. "Brokers receive...
Insurers Push Rural Patients Into Unsafe Off‑Site Chemo
A private insurer just decided that a cancer patient could not have her chemotherapy in the cancer center. She walked away from treatment entirely. This is the rollout most clinicians have not noticed yet, and it is starting in rural...
I'm an Insurance Pro: What You Can Do to Save Yourself Some Moola as the Insurance Market Shifts
After three years of tight underwriting and rising premiums, insurers in California are beginning to relax their guidelines and new carriers are entering the market. The state’s FAIR Plan is shedding policies back to the private market, signaling renewed competition...
XRP Margin Loans Offer 7-Day Calls, Better Protection
DWP currently offers 50 to 60 percent LTV against XRP. On a $12 million position that is $6 million borrowed. If price drops to the margin call threshold you get seven days to respond, not an instant liquidation like DeFi...
Rising Home‑Insurance Costs Drive 15% of South Florida Homeowners to Drop Coverage
Soaring premiums in South Florida have led roughly 15% of mortgage‑free homeowners to abandon home‑insurance policies, according to local agents. With average coverage for a $400,000 home reaching $10,000 a year—60% of which covers hurricane risk—experts warn insurers face widening...
California Wildfire Insurer Faces Scrutiny as Claim Payments Lag Behind
California wildfire survivors are decrying slow claim settlements as insurers grapple with massive losses. CINF disclosed $754 million in wildfire losses, with just 65% paid by quarter‑end, underscoring the strain on property‑casualty carriers and the reputational risk of delayed payouts.
Fixing the Broken Appraisal Model in Asset-Backed Lending With Thomas Galbraith, CEO of Barkr
In this episode, Peter Renton talks with Thomas Galbraith, CEO and co‑founder of Barkr, about the broken appraisal model in asset‑backed lending and how Barkr’s AI‑driven valuation platform, backed by a contractual warranty from Munich Re, solves it. Galbraith explains...
Illinois Tax Preparer Convicted in $11 Million COVID‑19 Unemployment Fraud Scheme
A federal jury in Chicago convicted tax preparer Hiam Hmaidan of orchestrating a scheme that generated nearly $11 million in fraudulent pandemic unemployment benefits. The case underscores systemic gaps in unemployment insurance oversight and the aggressive enforcement response from federal agencies.
Global Property Softening Met by Underwriting Discipline and Rising ART Interest: Aon
Aon’s Q1 2026 Global Insurance Market Overview shows a softening global property re/insurance market, yet underwriting discipline remains strong as insurers focus on risk selection and technical pricing amid climate, secondary peril and geopolitical concerns. Abundant capacity and fierce competition...
Insurance System Leaves Canadians Vulnerable as Natural Disasters Rise, Says Report
A new C.D. Howe Institute report warns that Canada’s property‑and‑casualty insurers are increasingly exposed to wildfires, storms and earthquakes, and urges Ottawa to create a government‑backed reinsurance scheme. The proposal would let the federal government borrow at lower rates to...
Aviva General Insurance Premiums Jump 19% to £3.4bn, Boosted by Direct Line Deal
Aviva reported a 19% rise in general‑insurance premiums to £3.4 billion in Q1, largely from the Direct Line acquisition. The boost contrasts with a 39% drop in retirement sales, highlighting divergent pressures across its portfolio.
Markets/Coverages: AXA XL Starts Prevention-Focused Business Unit; Markel Adds New Media, Entertainment Offerings
AXA XL unveiled a new Business Unit dedicated to prevention, led by Global Chief Underwriting Officer Libby Benet, to expand its risk‑consulting and advisory services. The unit will combine data, analytics, and engineering to tackle climate, supply‑chain, cyber, and operational resilience...
AI Cements Its Grip on Insurtech as Liability Questions Mount
Artificial intelligence now absorbs 95.2% of global insurtech capital, with $1.55 billion of Q1 2026 funding flowing to AI‑focused firms. Early‑stage AI deals surged 36% quarter‑over‑quarter, highlighted by Corgi’s $108 million Series A, one of only six mega‑rounds above $100 million. Meanwhile, insurers are confronting...
New York Hopes Captives Can Lower Affordable Housing Insurance Costs
New York State is providing a $2 million loan to Milford Street Association’s captive insurer and a $5 million pilot to help nonprofit housing providers adopt similar structures. The funding aims to lower liability insurance premiums that have risen from about $500...
WBN Survey: Global Business Leaders Shift Risk Strategy With Insurance
Global executives are shifting from traditional risk mitigation to a risk‑led strategy, treating insurance as a strategic asset rather than a cost. Worldwide Broker Network’s Risk Reality Report, based on 1,750 C‑suite leaders across six countries, shows 45% rank risk...
Time to Rewrite the Rules of Shipping War Risk Insurance
Lloyd’s underwriters are weighing the creation of an independent panel to determine when geopolitical events constitute a war for marine‑insurance purposes. The move targets the ambiguous line between armed conflict, state‑backed cyber attacks, and ordinary disputes. Shipping policies currently contain...
Statewide Captive Insurance Review Could Reshape Maryland’s Regulatory Landscape
Maryland lawmakers have passed Senate Bill 890, directing the Maryland Insurance Administration to conduct a comprehensive study of captive insurance arrangements owned by state‑based entities. The review will examine how captives are used, regulated, and taxed, with particular attention to...
Trump Administration Pushes States to Share Medicaid Data for Immigration Enforcement
The Trump administration is urging states to report Medicaid recipients to immigration authorities, with Republican‑controlled states like North Carolina passing laws that could affect millions of enrollees. The move ties a federal health‑insurance program to immigration enforcement, sparking privacy and...
Corporate Insurers Are Starting to Back Away From AI Risk
U.S. AI‑related lawsuits have exploded, climbing 978% between 2021 and 2025, prompting corporate legal teams to confront a wave of discrimination, intellectual‑property and autonomous‑system claims. In response, major insurers such as Berkshire Hathaway, Chubb and Travelers have added AI exclusion...
Jio Financial Invests ₹4.95 Cr for 50% Stake in JAGIL
Jio Financial Services Limited incorporated Jio Allianz General Insurance Limited (JAGIL) in partnership with Allianz Europe B.V. on May 12, 2026, following a joint venture agreement disclosed on April 22, 2026. The company will invest ₹4.95 crores for a 50%...
MortgageProtectionToday Rolls Out New Mortgage‑protection Policies for Homeowners
MortgageProtectionToday announced on May 13, 2026, from Detroit that it is adding a suite of mortgage‑protection insurance products. The policies target new and existing homeowners, offering no‑exam options and flexible premiums to cover mortgage payments after death, disability or critical...
Managing Disaster Risk Has Gotten so Costly It May Require Government Help
U.S. homeowners are facing soaring insurance premiums as insurers retreat from high‑risk markets, driven by more frequent and costly hurricanes, wildfires, and rebuilding expenses. Experts propose a new federal reinsurance entity to backstop catastrophic losses that private reinsurers struggle to...
Alternative Capital Just Decided Who Can Grow Property in 2026
Q1 2026 saw cat bond and insurance‑linked securities issuance reach $6.7 billion across a record 35 transactions, with $7.3 billion of maturities slated for April‑June. Guy Carpenter’s U.S. Property Catastrophe Rate‑on‑Line Index fell 14% year‑to‑date, underscoring pricing pressure. A historic $785 billion pool...
How ERM Leaders Are Reframing Risk in Complex Systems
At the 2026 ERM Roundtable Summit, enterprise risk leaders emphasized a shift from checklist compliance to a central, integrative role across the organization. Speakers from Exxon Mobil and Westinghouse described frameworks like aligned assurance and rapid, cross‑functional threat assessments that embed...
The Hidden Underwriting Exposure of AI Data Centers
The article argues that financing AI‑driven data centers is being treated as traditional real‑estate lending, despite the fact that operational performance—especially power continuity and SLA compliance—now drives cash flow and credit risk. Lenders face new variables such as power‑firmness, strict...
Florida Flood‑Insurance Expert Details Coverage Limits and New Policy Rules
Wadih El Khoury, an insurance specialist in Lakeland, Florida, outlined the scope of flood insurance, clarified building and contents limits, and highlighted recent policy adjustments such as elevation‑certificate discounts and mandatory waiting periods. His guidance aims to help homeowners navigate...