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:
Prediction Markets and Emerging D&O Risk
The Gemini Space Station IPO promised crypto‑exchange growth, but within months the company announced a strategic shift to a prediction‑market platform called “Gemini 2.0,” cutting staff by roughly 25 % and prompting the exit of its CFO, COO and CLO. Shareholders filed a securities class action alleging the IPO prospectus omitted material risks tied to the pivot and that the subsequent disclosures violated Sections 11, 15, 10(b) and 20(a) of the securities laws. The case highlights how emerging prediction‑market products can create new D&O exposure, especially when insider information may be reflected in market pricing.
Everest to Sell Canadian Retail Insurance Operations to Wawanesa
Everest Group has agreed to sell its Canadian Retail Insurance business, Everest Canada, to mutual insurer Wawanesa, with the transaction slated to close in the second half of 2026 pending regulatory approval. The deal will transfer an estimated CAD305 million (about...
Insurers Rank Financial Volatility as This Year’s Top Risk
A recent Society of Actuaries and Casualty Actuarial Society survey finds financial volatility ranked as the most impactful risk for insurers in 2026, cited by 25% of respondents. The concern is strongest among life insurers, where 63% selected volatility, while...
Maine Audit Finds $1 Million in Medicaid Overpayments, Fuels Push for Insurance Reform
Maine auditors disclosed that Gateway Community Services received more than $1 million in improper MaineCare payments, prompting the state to suspend the provider’s reimbursements. Lawmakers and health‑care advocates say the case highlights systemic billing flaws and the need for broader insurance...
USAA Adding to Stated Reinsurance for some ResRe Cat Bonds After SCS Model Update
USAA is inserting a 100% retained quota‑share layer into the stated reinsurance of several of its Residential Re annual aggregate catastrophe bonds after a Verisk risk‑model update raised the expected loss from severe thunderstorms. The adjustment covers bonds issued in...
Medicare Just Crossed $200 a Month. What It Means for Retirees
Medicare Part B premiums jumped to $202.90 a month in 2026, the first time they have cleared the $200 threshold. The Social Security cost‑of‑living adjustment added $56 to the average benefit, leaving retirees with a net gain of only about $38...
Captive Management Proving “Fertile Ground” For GuideFire
GuideFire, a Kansas City‑based firm, launched its captive advisory, management, development, formation and feasibility services in January. Although initially hesitant to expand into captive management, the division has quickly become a revenue driver. President Jesse Olsen describes the management side...
Industrial Waste Firm Granted Latest French Captive Licence
The French Prudential Supervision and Resolution Authority (ACPR) granted a captive reinsurance licence to CapQuartz, a subsidiary of industrial‑waste specialist CHIMIREC Group, on 18 March. The licence expands CapQuartz’s ability to underwrite its own risks and those of related entities. This...
UK Home Insurers Face Losses as Costs and Competition Rise
UK home insurers are projected to post a Net Combined Ratio of 103% in 2026, slipping back into loss‑making territory after a brief profitability rebound in 2025. Premiums are expected to fall about 3%, lowering the average policy price to...
Zocks Targets Life Insurers with AI Workflow Automation
Zocks, an AI assistant originally built for financial advisors, is extending its workflow automation platform into the life‑insurance sector. The tool captures data during discovery meetings, auto‑generates notes, applications and fact‑finds, and processes PDFs, scans and photos in under a...
HSB Targets AI Exposure with New Liability Cover
HSB, a Munich Re subsidiary, introduced an AI liability insurance product aimed at small and medium‑sized enterprises. The policy bridges gaps in conventional general liability coverage by protecting against bodily injury, property damage, and personal or advertising injury arising from...
Just Taps Sapiens to Modernise Retirement Operations
UK‑based financial services group Just has chosen Sapiens to power a new end‑to‑end life and pensions platform. The deployment will use Sapiens CoreSuite, DigitalSuite and DataSuite to boost scalability, integration speed and product‑to‑market timelines. The solution targets complex retirement products...
Employer Responsibilities for Work-Related Driving
Employers face a clear legal duty to manage work‑related driving risks, as roughly one‑third of road accidents involve employees behind the wheel. Many organisations still lack formal policies, exposing them to legal, financial and reputational fallout. In 2026, best‑practice guidance...
Chubb Outlines Operation of $20bn Maritime War Risk Facility in Persian Gulf
Chubb has announced a new $20 billion maritime war‑risk insurance facility focused on vessels operating in the Persian Gulf. The facility is designed to provide rapid, parametric payouts when predefined conflict triggers occur, helping ship owners manage exposure to regional hostilities....
Morgan Stanley Upgrades Lemonade but Source Details Unavailable
Morgan Stanley lifted its price target on digital insurer Lemonade and its shares rose, but the eight supplied sources do not disclose the new target level, percentage gain, or analyst commentary. The lack of source material limits verification of the...
Willis Partners with Circle Asia to Launch Asia’s First Insurance Facility for Collectors and Galleries
Willis, part of WTW, has teamed with Circle Asia to launch Asia’s first dedicated art insurance facility for individual collectors and galleries. The new product lowers minimum premium thresholds, offering a single comprehensive policy that covers fine art, jewellery, home...
CMS Finalizes $781 Million Savings Rule to Digitize Health‑Care Claims
The Centers for Medicare & Medicaid Services (CMS) has finalized a rule that forces providers, insurers and clearinghouses to use standardized electronic transactions for claims attachments, projecting $781 million in annual savings. The regulation, slated to take effect May 26, 2026,...
Living in One of These 5 States Could Put You on a Crash Course with Higher Car Insurance Premiums
The National Highway Traffic Safety Administration reported an 8% drop in U.S. traffic deaths in the first half of 2025, the steepest decline since 2008. However, five states—California, Florida, Georgia, Texas, and North Carolina—still account for a disproportionate share of...
MaineCare Audit Finds $1 Million in Overpayments, Spurs Medicaid Reform Push
A Maine state audit of Gateway Community Services uncovered over $1 million in improper MaineCare payments, prompting the department to suspend the provider’s reimbursements. Lawmakers and health‑care advocates are using the findings to demand broader Medicaid and insurance reforms aimed at...
CMS Proposes Near‑flat 0.09% Medicare Advantage Rate Hike, Sparking Senior Cost Concerns
The Centers for Medicare & Medicaid Services (CMS) has floated a 0.09% increase in Medicare Advantage (MA) payments for 2027, translating to roughly $700 million in extra funding but effectively a $324 per‑beneficiary cut after risk‑adjustment changes. Critics warn the flat...
Direct Medicare Advantage Enrollment Sparks ACO Competition Debate
Great review of the idea of potential enrollment right into Medicare Advantage (though doesn’t consider Chris’ added twist of competition between Traditional Medicare ACOs and MA) https://t.co/rcquVZ8zxn it would be fun to compete head-head (but would need level playing field)
Journalists Shine Light on Out-of-Reach Insurance Prices, AI’s Role in Claims Disputes, and Susie Wiles
KFF Health News senior correspondent Renuka Rayasam highlighted the "Priced Out" series on health‑insurance affordability, while rural health reporter Andrew Jones warned of a widening measles outbreak across North and South Carolina. Editor‑at‑large Céline Gounder explained how hospitals and insurers...
Penalties, PARs, and Psychological Claims: Recent New York Workers’ Compensation Decisions
Recent New York workers‑comp rulings sharpen the limits on carrier liability and penalties. The Court of Appeals in Gonzalez held that attorneys cannot recover fees on late‑fee penalties, preserving the 20% surcharge for carriers. The 3rd Department upheld a $145,000...
Kinsale Capital: Strong Business Fundamentals Support Upgrade To Strong Buy At Lower Price
Kinsale Capital Group (KNSL) has been upgraded to Strong Buy as its underwriting discipline and profitability remain solid despite a soft insurance market. The insurer posted a 71.7% combined ratio and a 26% return on equity, outpacing peers. Valuation has...
Lemonade Shares Surge 16% After Morgan Stanley Upgrade, Boosting Insurtech Rally
Lemonade (LMND) surged more than 16% after Morgan Stanley analyst Bob Huang upgraded the stock to overweight and lifted the price target to $85. The move was driven by Lemonade’s integration with Tesla vehicle data and a 50% discount for...
Short Term Gain, Long Term Pain
United Policyholders warns that the Federal Housing Finance Agency has weakened a long‑standing rule requiring replacement‑cost value (RCV) insurance for roofs on homes backed by Fannie Mae and Freddie Mac. The revised regulation now permits only actual cash value (ACV)...
MedPAC Says Hospital Payments Are Sufficient, Urges Better Safety-Net Targeting
MedPAC’s 2026 annual report to Congress concludes that Medicare’s statutory payment update of roughly 2.3% for FY 27 is sufficient and does not merit an extra boost. Hospital financial health is improving, with all‑payer operating margins rising from 5.2% in 2023...
The Explosion of the Medicare Advantage Special Needs Plan
Special needs plans (SNPs) are emerging as the primary growth engine for Medicare Advantage, with KFF estimating they will account for roughly half of enrollment gains between 2024 and 2025. By 2025, SNPs will cover about 21% of all MA...
Trump Health Chief Proposes Automatic Medicare Advantage Enrollment
Automatic enrollment in Medicare Advantage plans under consideration, top Trump health official says https://t.co/Bgv6WBeo2u via @statnews
Chubb Wins Lead Underwriter Role for $20 B Gulf Shipping Reinsurance Program
Chubb, in which Berkshire Hathaway holds a roughly $11 billion stake, was named lead underwriter for the U.S. International Development Finance Corp.'s $20 billion Gulf shipping marine reinsurance program. The move places the insurer at the center of a geopolitical crisis that...
FINRA Bars Ex-Pruco Broker Who Took $500k+ Commissions From Forged Clients’ Signatures
FINRA barred former Pruco Securities broker Avinesh Shankar after uncovering a scheme in which he used electronic signature software to forge client signatures on 115 annuity applications. The fraudulent filings generated $511,609 in advanced commissions that were never tied to...
Why Liability Insurance No Longer Works the Way You Think — and What CEOs Must Do About It
Liability insurance shifted in the mid‑1990s to a shareholder‑first model, turning claims into cost‑control exercises rather than fast, fair payouts. Insurers now extend processing times, demand extensive documentation, and scrutinize payouts to protect capital. CEOs who treat insurance as a...
Calif. Bill Would Require Certification for Stone Fabrication Shops
California lawmakers introduced Assembly Bill 2137 to create a statewide certification system for shops that fabricate engineered stone, granite, marble and similar slab materials. The bill directs Cal/OSHA to develop an application process, with certifications issued for three years beginning...
Medical Supply Vendor Not a Provider Under Comp Law: Pa. Court
A Pennsylvania appellate court ruled that Scomed Supply, a distributor of durable medical equipment, does not qualify as a “health care provider” under the state Workers’ Compensation Act. The decision upheld the insurer’s refusal to pay additional reimbursement for supplies...
Guest Post: Dealing with Potential Claims Under Claims-Made and Reported Policies
Chris Quirk’s guest post warns that mishandling notices of circumstances (NOCs) under claims‑made and reported policies can trigger coverage denials. The article cites the Evanston v. HRC Fertility case, where an incomplete NOC excluded individual defendants because they were not...
Intelligent AI Partners with Guidewire to Integrate High-Resolution Property Risk and Rebuilt Data
Intelligent AI has teamed up with Guidewire to embed its high‑resolution property risk and COPE (Construction, Occupancy, Protection, Exposure) rebuild cost data directly into the Guidewire InsuranceSuite platform. The integration delivers precise replacement‑cost estimates, enriched property attributes and peril‑specific risk...
Insurer Released From Potbelly’s Coverage Claim
A Seattle federal judge ruled that Potbelly Corp cannot invoke its Beazley Execuguard management‑liability policy for a wage‑transparency lawsuit under Washington’s Equal Pay and Opportunities Act. The court found the claim did not allege discrimination as defined in the policy,...
Chubb Reveals Structure of DFC’s $20bn Gulf Maritime Insurance Facility
U.S. insurer Chubb has been confirmed as the lead underwriter for the International Development Finance Corporation’s $20 billion Gulf Maritime Insurance Facility. The program will provide war‑related hull, protection‑and‑indemnity and cargo coverage for vessels that meet U.S. eligibility criteria, primarily those...
Oklahoma Insurance Producer Has License Revoked Following Investigation
On March 20, 2026, the Oklahoma Insurance Department revoked the license of Leslie Clark, a Stigler‑based insurance producer, and levied a $2,000 fine after an anti‑fraud investigation uncovered misappropriation of premium payments. Clark failed to appear at a Feb. 11 show‑cause...
Texas Takes Over Permitting for Carbon Storage Projects
The Texas Railroad Commission secured EPA approval to issue Class VI carbon‑storage permits, shifting authority from the federal level to the state. This primacy is intended to streamline applications, with a $50,000 filing fee, an annual $50,000 idle‑well charge, and a...
Motor Insurers Driving Towards Fully Automated AI Claims
Motor insurers are accelerating the adoption of artificial intelligence to automate the entire claims lifecycle. Solera reports that several carriers have already implemented straight‑through processing, allowing AI to make end‑to‑end claim decisions without human intervention. The technology promises faster payouts,...
Reinsurance Pools, Retro Underpin Terrorism Risk Resilience in a Complex Threat Landscape: Guy Carpenter’s Gallagher
Guy Carpenter’s Asia‑Pacific CEO Tony Gallagher warned that terrorism risk is evolving toward smaller, more frequent attacks that blend physical, cyber and state‑linked threats. He highlighted the critical role of reinsurance pools and retrocession in providing market capacity far beyond...
Q&A: Patients with Eczema Continue to Face Insurance Barriers
Patients with eczema continue to encounter significant insurance obstacles, according to a 2025 National Eczema Association (NEA) survey. The study found that 40% of respondents experienced coverage issues, 15% never began prescribed therapy, and step‑therapy and prior‑authorization requirements delayed treatment...
Why BESS Insurers Are Sweating Transformers and Contractor Errors over Battery Fires
Insurers covering gigawatt‑scale battery energy storage systems are moving beyond thermal‑runaway concerns to scrutinize balance‑of‑plant components such as high‑voltage transformers and EPC integration errors. Rapid product evolution, exemplified by a jump from 3 MWh Megapack enclosures in 2019 to 14.5 MWh units...
Slip-and-Fall Prevention Starts with Process, Not Products
Slip‑and‑fall injuries account for over 25% of non‑fatal workplace incidents, yet many facility leaders still prioritize flooring products over operational discipline. The article argues that a process‑driven safety program—standardized cleaning, proactive inspections, clear responsibilities, and continuous training—delivers far greater risk...
The Homeowners Insurance Crisis Is Now a Mortgage Crisis. A Federal Fix Is Being Proposed
Homeowners‑insurance premiums have surged 64% since 2019, pushing average annual costs to $1,950 and exceeding $4,400 in high‑risk states. The spike is inflating borrowers' debt‑to‑income ratios, causing 37% of lenders to lose deals and delaying closings. Brookings economists propose a...
Study Shows 2 Million Americans Lose ACA Coverage After Subsidy Expiration
A new Kaiser Family Foundation study reports that roughly 2 million people—about one in ten former ACA enrollees—are now uninsured after the expiration of enhanced federal subsidies. The loss follows a partisan showdown that halted a six‑week government shutdown and left...
CRC Group Leverages ILS Capacity to Support Data Center Capabilities
CRC Group is tapping the insurance‑linked securities (ILS) market to back its new data‑center insurance product on the Insurisk platform, offering up to $500 million in capacity across property and casualty lines. The coverage spans the full project lifecycle—from construction and...
MPs Committee: This Is What Ails SHA
The National Assembly health committee warned that Kenya's Social Health Authority (SHA) is financially unsustainable, collecting roughly Sh7.4 billion monthly but spending Sh7.2 billion on operations. Only about 5 million of the 29 million registered members actually remit premiums, creating a large funding gap....
Jaguar Land Rover's Cyber Bailout Sets Worrying Precedent, Watchdog Warns
The UK government provided Jaguar Land Rover with a £1.5 billion loan guarantee after a ransomware attack that the Cyber Monitoring Centre estimates cost up to £1.9 billion to the British economy. The cyber watchdog warned that rescuing a single firm without clear criteria...