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:
One of BAM’s Fidus Re Financial Guarantee ILS Gets Ratings Revised to Positive by KBRA
Build America Mutual Assurance Company (BAM) saw Kroll Bond Rating Agency (KBRA) upgrade the outlook on its Fidus Re Series 2022-1 financial guarantee ILS to Positive, while reaffirming AA+ on the 2021-1 series and AA on the 2022-1 and 2025-1 series. The positive revision reflects faster‑than‑expected amortisation of insured exposures and robust stress‑test results. KBRA noted that projected losses remain comfortably below each series' attachment points, underscoring the low‑risk nature of the underlying municipal credit pools. The ratings affirm BAM’s successful integration of capital markets into its reinsurance strategy.
Rising Fuel and Insurance Costs Prompt Oman Air Cargo Surcharge Move
Oman Air Cargo will add a Fuel Surcharge and a War Risk Surcharge to all shipments starting March 18, 2026. The fuel charge will track the US Gulf Coast Jet A1 price per gallon and be reviewed weekly, while the...
Why Insurance No Longer Matches the Risk on Your Clients’ Balance Sheets
After two years of steep premium hikes, 2026 saw modest price relief in some commercial lines, but insurers simultaneously raised deductibles, tightened definitions, and expanded exclusions. The result is a disconnect: premiums appear stable while the amount of loss companies...
State Farm Sets up Another Merna Re Structure in Bermuda, Likely for Future Cat Bonds
State Farm has registered a new Bermuda special‑purpose insurer, Merna Re Enterprise II Ltd., likely to support upcoming catastrophe‑bond issuances. The move follows a decade‑long strategy of using Merna Re entities, which have funded $3 billion of cat‑bond protection and a...
Solvency II SFCR Report Structure
The European Union has adopted Delegated Regulation (EU) 2026/269, amending the Solvency II directive and redefining the structure of the Solvency and Financial Condition Report (SFCR) for insurers. Effective 30 January 2027, the SFCR will be presented in two distinct parts—one aimed at...
Willis and Qover Launch Embedded Insurance Partnership
Willis, through its GB Affinity unit, has partnered with European insurtech Qover to create an embedded insurance ecosystem for UK businesses. The joint offering combines Willis’ broking expertise and Radar analytics with Qover’s API‑driven platform, enabling rapid, product‑agnostic insurance programs...
Nolana AI Selected for Lloyd’s Lab Cohort 16 to Improve Operational Efficiency in Specialty Insurance
Nolana AI, an agentic AI operating system for insurance operations, has been chosen for Cohort 16 of Lloyd’s Lab, the leading global accelerator for the specialist insurance market. The company was selected from more than 220 applicants, joining only 12...
Personal AI Assistants Will Reshape Insurance Buying
When "AI in insurance" meets InsurTech revamping insurance distribution. → https://t.co/kcythS7tvu The Boston Consulting Group recently published an article exploring how the rise of personal AI assistants might revamp how people buy insurance. https://t.co/P7X5Q1mtQx
Visa Sees Check Fraud Spilling Into Faster Payment Scams
Visa warns that check fraud now accounts for roughly 30% of U.S. fraud losses in 2024, with checks being 31 times more likely to be fraudulent than real‑time transactions. Criminals are leveraging both traditional methods such as check washing and...
Assurant and Hollandsnieuwe Introduce New Mobile Device Protection Offering in the Netherlands
Assurant announced a partnership with Dutch online mobile operator hollandsnieuwe to launch mobile device protection in the Netherlands. The offering includes a Standard plan covering accidental damage and a Premium plan adding theft and loss coverage. A fully digital enrollment...
Credit Firms Report Risk Management Gaps Among Hong Kong SMEs
CollectForU Expert and Debt Hunter released a joint report revealing that over 70% of Hong Kong SMEs lack basic credit defense mechanisms, exposing them to severe liquidity risk as supply‑chain payment cycles lengthen. The study highlights a growing gap between...
Autoflight Launches Insurance Package Covering Wide Range of eVTOL Operations
AutoFlight has introduced AF Care+, an all‑in‑one protection programme for operators of its CarryAll eVTOL aircraft. The offering, built on an initial arrangement with People’s Insurance Company of China (PICC), insures ten aircraft and expands to cover aircraft damage, third‑party liability,...
Viriyah Mulls Higher EV Premiums
Viriyah Insurance is considering higher premiums for electric‑vehicle (EV) policies after its EV segment posted a combined‑ratio loss slightly above 10 %, meaning claims and expenses exceed premiums. The insurer will adopt a model‑by‑model pricing approach, tailoring rates to each vehicle’s...
Insurers Split: Covering vs Excluding AI Agent Errors
As businesses increasingly rely on autonomous AI agents, some insurers are offering specialized coverage for AI errors, while others introduce exclusions, signaling a shift toward explicit policies addressing AI-related risks. aibusiness
Few Missiles and Drones Can Keep Hormuz Shut Indefinitely
Question for all the maritime insurance experts out there - what will it take for the large P&I clubs to reactivate coverage through the Strait of Hormuz? One of my takeaways from this conflict is how few missiles and drones it...
MA Spending 14% Higher Than FFS Medicare, Including at Nursing Homes, Driven by Coding Intensity and Enrollment Trends
Medicare Advantage (MA) spending is projected to be 14% higher than fee‑for‑service Medicare in 2026, adding roughly $76 billion in excess costs. The gap stems from intensified diagnostic coding, a quality‑bonus program that adds $16 billion, and favorable selection that boosts payments...
Insurance Premiums, Not Blockades, Choke the Strait of Hormuz
𝗧𝗵𝗲 𝘄𝗲𝗮𝗽𝗼𝗻 𝗰𝗹𝗼𝘀𝗶𝗻𝗴 𝘁𝗵𝗲 𝗦𝘁𝗿𝗮𝗶𝘁 𝗼𝗳 𝗛𝗼𝗿𝗺𝘂𝘇 𝗶𝘀𝗻'𝘁 𝗮 𝗺𝗶𝘀𝘀𝗶𝗹𝗲. 𝗜𝘁'𝘀 𝗮 𝘀𝗽𝗿𝗲𝗮𝗱𝘀𝗵𝗲𝗲𝘁. Here's something most supply chain professionals don't fully appreciate — and probably should. Iran doesn't need to physically block the world's most critical oil chokepoint. They just need to...
CMS Moves Forward with 3rd Round of Medicare Drug Negotiations
CMS announced that the third round of the Medicare Drug Price Negotiation Program will proceed with full manufacturer participation, covering 15 high‑cost, single‑source drugs and one drug slated for renegotiation. The agency will issue initial price offers by June 1, 2026,...
AHA Shares Recommendations with CMS on Proposed Notice of Benefit and Payment Parameters for 2027
The American Hospital Association (AHA) submitted comments to the Centers for Medicare & Medicaid Services (CMS) on the agency’s proposed Notice of Benefit and Payment Parameters for 2027. While the AHA praised CMS’s push for innovative coverage options, it warned...
MedPAC Releases March 2026 Report to Congress
The Medicare Payment Advisory Commission (MedPAC) released its March 2026 report to Congress, outlining recommended payment rates for hospital inpatient and outpatient services for 2027. The commission also proposed allocating an additional $1 billion to safety‑net hospitals through a new Medicare safety‑net...
Why Some Designers Face Ever-Higher Professional Liability Insurance Costs
A recent Ames & Gough survey shows eight of fifteen designer‑liability insurers raised premiums in 2025, though most hikes were five percent or less. Five insurers kept rates flat and two even lowered them, leaving the overall professional‑liability market for architects...
‘Nation’s First’ Smoke Damage Standards Bill Wending Through California Legislature
The Smoke Damage Recovery Act (AB 1795) is moving through the California Legislature to establish a statewide framework for evaluating and remediating wildfire smoke damage in homes. Prompted by the 2025 Los Angeles fires, which generated over 42,000 insurance claims—including 13,000 smoke‑damage...
Congress Urges Curb on Costly Medicare Advantage Subsidies
Congressional advisers call to rein in Medicare Advantage spending amid industry pressure I’ll summarize for you. EVERY SINGLE FAMILY IN THE USA IS PAYING $800 A YEAR to the big insurance companies because taxpayers pay them more than it...
AM Best Affirms Rating of Vertex Pharmaceuticals Captive
AM Best has affirmed the financial strength rating of A (excellent) and the long‑term issuer credit rating of “a” (excellent) for Torreyana Insurance Company, the captive insurer wholly owned by Vertex Pharmaceuticals. The ratings carry a stable outlook, indicating continued creditworthiness....
Insurers Under Allstate Group File Louisiana Rate Decreases for Personal Auto
Louisiana regulators announced that three Allstate‑group insurers filed personal‑auto rate cuts in March 2026. Imperial Fire & Casualty reduced its Value Product by 6% for about 41,000 high‑risk drivers, IFAC lowered its Mid‑Market premiums 2.9% covering 32,000 policyholders, and Allstate...
Insured Losses From Iran War Manageable if Conflict Short-Lived: Moody’s
Moody's warns that insured losses from the Iran‑Israel conflict remain manageable for large, diversified specialty insurers if hostilities are brief, projecting a baseline scenario of a few weeks before navigation through the Strait of Hormuz resumes. However, a prolonged war...
Credit Score Affects Home Insurance as Much As Location
Your credit has as much of an impact on your homeowners insurance premium as whether or not you live in a disaster-prone area. https://t.co/PQ2K1kvGSE
Washington Senate Votes to Send Medical Treatment Bill to Governor
The Washington Senate voted 30-19 to approve amendments to S.B. 5847, sending the bill to Governor Bob Ferguson. The legislation lets network providers deviate from Department of Labor and Industries (L&I) coverage decisions and national treatment guidelines when medically appropriate....
The Metals Agency Receives Approval for Export Credit Insurance
The Metals Agency has secured export credit insurance through JPMorgan Chase and the U.S. Export‑Import Bank, marking its first bank‑backed protection for international metal trades. The coverage gives customers a safety net against payment defaults, especially as copper, aluminum and...
Construction Risk Management Best Practices: An Expert Guide
The article provides a practical guide to construction risk management, outlining proven strategies that firms can adopt to safeguard projects. It emphasizes early risk identification, robust contract language, and leveraging technology such as real‑time analytics and BIM. The guide also...
Managing Duplicate Motor Finance Claims: What Firms Need to Know
Regulators including the FCA and SRA have warned that duplicate representation in motor‑finance commission claims creates confusion, delays and potential unfair termination fees. Firms must ensure consumers understand which agreement governs their claim and that any supersession clause is clearly...
FloodSmart Re Cat Bonds Extended Further, as NFIP’s Helene Loss Remains Above Attachments
The National Flood Insurance Program’s (NFIP) loss estimate for Hurricane Helene now sits above $7 billion, surpassing the attachment points of several FloodSmart Re catastrophe bonds. As a result, the $225 million Class A tranche of the 2023‑1 series has been allowed to...
AI-Related Risks Rank Highest for Long-Term Emerging Risks Among C-Suite
A joint survey by the Casualty Actuarial Society and the Society of Actuaries of 350 senior executives reveals that 60% of C‑suite leaders view technological risks, especially AI adverse outcomes, as the most consequential over the next three years. Economic...
What Finance Teams Should Know About the World of Subrogation
Finance leaders are being urged to grasp subrogation, a legal practice where insurers recoup payouts from at‑fault parties, as an untapped lever to curb soaring health‑care costs. Intellivo, a pure‑play subrogation firm, showcased the potential by recovering up to 1%...
DB Pension Endgame Options: Beyond the Buy-Out
UK defined benefit pension schemes are seeing a strategic shift as new regulations unlock roughly £260bn of surplus previously funneled to insurers in buy‑outs. The reforms let sponsors and members reclaim surplus, prompting interest in alternatives like captive insurance structures...
Only 3 in 10 Americans Review Insurance Annually, Says Big I Survey
A recent Big I survey reveals that only three in ten Americans review or shop for insurance each year, despite nine‑in‑ten rating insurance as important or somewhat important. Most policyholders act reactively, waiting for premium increases or major life events before...
European Insurance M&A Activity Rises 14% in 2025: FTI Consulting
European insurance M&A activity climbed 14% in 2025, reaching 789 announced transactions across brokers, MGAs, service providers and carriers. The United Kingdom and Ireland saw a 23% year‑on‑year decline, yet remained the region with the most deals at 219. Continental...
WTW: U.S. Commercial Insurance Rates Moderate to 2.9% in Q4 2025
U.S. commercial insurance rates rose 2.9% in Q4 2025, according to WTW’s Commercial Lines Insurance Pricing Survey, marking a slowdown from the 3.28% gains in Q3 and the roughly 6% increases seen from late 2023 through Q1 2025. The moderation reflects a...
AM Best Downgrades Rating of Petronas Captive
AM Best has reduced the financial strength rating of Labuan‑domiciled Energas Insurance (L) Limited, the captive insurer for Petronas, from A to A‑. The agency also lowered the long‑term issuer credit rating from a to a‑. While the rating downgrade...
Radiology Groups Push UnitedHealthcare and Cigna to Update Payment Policies for Key Service
Ten medical societies, including the American College of Radiology, have written to UnitedHealthcare and Cigna urging them to revise their coverage policies for peripheral nerve stimulation (PNS), a minimally invasive chronic pain treatment. The insurers currently classify PNS as experimental,...
Jack Mintz: Alberta Should Stop Capping Auto Insurance Rates
Alberta has imposed strict auto‑insurance rate caps, freezing premiums in 2023 and limiting increases to 7.5% for good drivers in 2025‑26 and 10‑12.5% for all policy‑holders. The caps have created a mismatch between rising claim costs—up 7.8% annually—and allowed premium...
Insured Losses From March 10-12 US SCS Outbreak to Land in the Billions of Dollars: Gallagher Re
Reinsurance broker Gallagher Re estimates that the March 10‑12 severe convective storm (SCS) outbreak in the United States will generate insured losses in the low‑to‑mid single‑digit billions of dollars, with total economic damage projected to be 20‑25% higher. The event,...
Markets/Coverages: Coalition Provides Expended Cyber Protection in Canada
Coalition, a San Francisco‑based cyber insurer, launched its Active Cyber Policy in Canada, expanding coverage to address ransomware, AI‑enabled fraud and heightened regulatory scrutiny. The policy bundles popular endorsements, offers optional separate limits for breach response, and introduces financial incentives for...
Families Scramble To Pay Five-Figure Bills as Clock Ticks on Promised Preauthorization Reforms
Patients like Sheldon Ekirch have spent nearly $90,000 fighting insurer denials for costly IVIG therapy, only to receive coverage after a Virginia external review overturned Anthem's decision. The case highlights ongoing frustrations with prior‑authorization processes despite industry pledges, made last...
Kin Targets Expanded Hurricane Reinsurance with New $300m Hestia Re 2026-1 Cat Bond
Kin Insurance is issuing a $300 million Hestia Re 2026‑1 catastrophe bond, marking its return to the cat‑bond market and its first effort to secure hurricane reinsurance beyond Florida. The bond is split into four tranches, each with distinct attachment points,...
Top Africa Insurer Sanlam Flags ‘Massive’ Risks From Iran War
Sanlam Ltd., Africa's largest insurer, warned that the protracted Iran war poses massive risks to its performance across 27 countries. The conflict is driving higher fuel prices, inflationary pressure and rising borrowing costs, which the CEO said will curb new...
Ascot Appoints Shanelle Burke as US Chief Financial Officer
Ascot announced Shanelle Burke as its U.S. Chief Financial Officer, elevating her from the controller role she has held since 2020. Burke brings more than two decades of insurance finance experience, including senior positions at Markel, Alterra USA, and KPMG....
DUAL North America and AXIS Increase Surety Programme Capacity
DUAL North America, the Howden Group’s specialist underwriting arm, and AXIS Capital have raised the capacity of their joint surety programme after a strong inaugural year. Single‑bond limits have been lifted from $100 million to $150 million, while aggregate per‑principal limits rose...
Stop Mailing Checks: How Card-Based Payouts Are Reshaping Claims
In this episode of the InsurTech Leadership Podcast, Andrew Jurigan, head of insurance for North America at Plyant, explains how card‑as‑a‑service platforms are replacing traditional check, ACH, and wire payouts for insurance claims and benefits. He highlights the flexibility of...
Unconditional Payments Interrupt Prescription for Louisiana First-Party Claims
The Louisiana Supreme Court ruled that unconditional payments restart the two‑year prescriptive period for first‑party insurance claims, even when the insurer becomes insolvent and the claim moves to the Louisiana Insurance Guaranty Association (LIGA). The decision arose from a Hurricane...