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:
Gateway Re 2026-2 a Testament to Transparency and Performance of SageSure’s Platform: CEO
SageSure successfully issued the $175 million Gateway Re Series 2026‑2 catastrophe bond, meeting its target size while pricing Class A notes below initial guidance and Class B notes within range. The multi‑peril bond provides reinsurance for Auros Reciprocal and Interboro across storm, earthquake, wildfire, severe thunderstorm and winter storm exposures in six U.S. states. Swiss Re Capital Markets acted as sole structuring agent and bookrunner, underscoring the deal’s market credibility. This issuance follows SageSure’s earlier $670 million Series 2026‑1 bond, cementing its position near the top of the Artemis cat‑bond sponsor leaderboard.
Naval Sinking Spikes Shipping Risk, Insurance Premiums Skyrocket
DID THE NAVY JUST SINK SHIPPING? Question for @SecWar, @thejointstaff @CENTCOM @US5thFleet: Was there any discussion about the impact that sinking an Iranian frigate near a heavily trafficked shipping lane would have on global shipping. I am not privy to the...
Florida Tank Company Contesting OSHA Fines After Fatal Incident
U.S. Occupational Safety and Health Administration has issued 19 citations against PCE Petroleum Contractors Enterprises, a Florida tank‑service firm, after a worker died from benzene and toluene exposure in a confined space. The agency proposed a $60,242 fine, which the...
BHSI Names Rory O’Broin Global Head of Transactional Liability
Berkshire Hathaway Specialty Insurance (BHSI) appointed Rory O’Broin as Global Head of Transactional Liability. O’Broin will lead the insurer’s transactional liability operations worldwide from its London office. He brings extensive M&A, contingent risk and tax liability insurance experience, plus a...
CMS Plans Advance Care Planning Quality Measure
The U.S. Centers for Medicare & Medicaid Services has proposed a new advance care planning (ACP) quality measure, MUC202-020, that would tie reimbursement to documented end‑of‑life conversations for patients 18 and older. The measure would apply to hospitals, home health...
SCOR Promotes Sofia Kyriakopoulou to Group Chief Technology, Data & AI Officer
Global reinsurer SCOR has promoted Sofia Kyriakopoulou to Group Chief Technology, Data & AI Officer, effective March 1, 2026. Kyriakopoulou, who joined SCOR in 2024 as Chief Data & Analytics Officer, previously held senior data and digital roles at Swiss...
From MFN to IRA, Experts Warn of a System Under Pressure in Wide-Ranging Policy Webinar
The March 3, 2026 AJMC/MHE webinar examined the Trump administration’s Great Healthcare Plan, focusing on most‑favored‑nation (MFN) drug pricing, the lapse of ACA marketplace subsidies, and the Inflation Reduction Act’s (IRA) impact on community oncology. Sixteen manufacturers have voluntarily adopted MFN pricing,...
InsurTech Funding Tops $1bn in February as AI Investment Surges
Global InsurTech funding topped $1 billion in February, propelled by a $703 million debt raise from Howden Group. Excluding Howden, venture‑backed firms secured roughly $376 million across 11 deals, keeping pace with January’s activity. AI‑centric companies dominated the venture pool, with notable rounds...
HDI Has Promoted Gerrie Piette to Manager Captives
HDI Global SE announced the promotion of Gerrie Piette to Manager Captives. Piette, based in Brussels, previously served as senior casualty underwriter and account manager for captives. The new role expands his responsibilities overseeing HDI's captive insurance operations. The move...
Agentic Insurance Commerce Empowers Agents in Digital Marketplace
Agentic insurance commerce https://t.co/Mi22QkQtSh @jeffroth77 @GalenDShaffer @JimMarous @FGraillot @nigelwalsh @SpirosMargaris @jblefevre60 @robgalb @RonnoArnold @hedgequote @Nick_Lamparelli @antgrasso @hugues_bertin @globaliqx @psb_dc @an_battista @InsuranceEleph1
EY’s New Captive Leaders Confirmed
EY has appointed Andrew Christie and Brad Schock as co‑leaders of its global captive insurance practice, while Jim Bulkowski will oversee risk management and insurance M&A. The restructuring aims to strengthen EY's service offering for captive insurers and broaden its...
China National Nuclear Corporation Forms Hong Kong Captive
China National Nuclear Corporation (CNNC), the state‑owned operator of China’s civilian and military nuclear programmes, has secured authorization from the Hong Kong Insurance Authority to establish CNNC Captive Insurance Limited. The new captive insurer will be domiciled in Hong Kong,...
KYND Hires US Insurance Lead Aaron Aanenson
Cyber risk intelligence firm KYND has appointed Aaron Aanenson as Head of Insurance for North America, bolstering its leadership as demand for SME cyber‑risk insight rises. Aanenson brings over 18 years of experience in cybersecurity consulting, management consulting and insurance,...
FedNow Pushes FEMA Disaster Aid From Days to Seconds
The Federal Reserve’s FedNow service now powers FEMA’s disaster‑relief payouts, moving funds from days or weeks to seconds. Transaction limits have been raised to $10 million, enabling large‑scale disbursements directly to states, municipalities and households. This capability is part of a...
Eclipse Re Issues Its First Private Cat Bond of the Year, $100m Series 2026-1A
Eclipse Re Ltd., a Bermuda‑based special purpose insurer, issued its first private catastrophe bond of 2026 – a $100 million Series 2026‑1A note listed on the Bermuda Stock Exchange. The bond, likely covering property catastrophe reinsurance or retrocession, matures on December 31 2027, making...
Backup Strategies Are Working, and Ransomware Gangs Are Responding with Data Theft
Business email compromise (BEC) and funds transfer fraud (FTF) accounted for 58% of cyber‑insurance claims in 2025, with BEC alone representing 31% of all claims. Average BEC loss fell 28% to $27,000 and FTF loss dropped 14% to $141,000, while...
Severe Storms in Kansas Lead to $879 Million in Insurance Claims in 2025
Severe storms across Kansas generated $879 million in insurance claims for 2025, nearly doubling the payout from 2023. More than 82,000 individual claims were filed, marking a 99% increase in claim volume. Wichita’s Sedgwick County alone accounted for over one‑third of...
Westchester Close to Settling $230M-Plus Hurricane Condo Claim
Westchester Surplus Lines Insurance is nearing a settlement with the Portofino condominium association over a hurricane claim that originally sought more than $230 million. The dispute began with a modest $6.5 million proof of loss, which later ballooned to a $233 million appraisal...
We Need Fair and Balanced Audit Reports
Norman Marks argues that audit reports must be more than accurate; they need to be fair and balanced to preserve credibility with management and boards. He recounts an IT audit at a large financial institution where the report highlighted security...
Insurtech CyberCube Warns of Surging Iranian Cyber Risks to Businesses
CyberCube warned that Iranian-linked hacker groups pose a rising cyber risk to U.S. firms, especially in critical sectors, after recent U.S.-Israel military actions. Its AI-driven assessment found 12% of U.S. companies with over $1 billion in revenue at elevated risk, flagging...
Surplus Lines Market Growth Cools as Competition Intensifies
The surplus lines market’s premium growth slowed to 9.7% year‑over‑year through Q3 2025, down from 13.5% in the same period a year earlier. Competitive pressure in cyber, commercial property and D&O liability is curbing expansion, even as E&S carriers continue...
How to Navigate the Upheaval in E&S
Excess and surplus (E&S) lines have moved from a fallback option to a primary placement step for complex risks such as coastal properties, cyber exposure, and specialized liability. This shift forces agents to act faster, communicate more clearly, and rely...
New York Bill Would Codify Access to Out-of-Network Comp Pharmacies
New York Assembly Bill A.B. 10413 would codify the right of injured workers to fill workers‑comp prescriptions at pharmacies outside employer or insurer networks when delays, authorization gaps, or emergencies arise. The measure mirrors regulations the Workers’ Compensation Board adopted...
Supply Chain Losses Hit 86% of Companies, but Most Lack Adequate Coverage: Gallagher
A Gallagher survey reveals that 86% of global companies suffered supply‑chain losses in the past year, yet only about one‑third were fully insured for those events. Rising material costs, geopolitical instability and tariff volatility are cited as the primary disruption...
Survey: Most Americans Ignore Insurance Until Something Beeps
A new Independent Insurance Agents & Brokers of America survey shows that only 31 % of Americans review or shop their insurance policies each year, despite 88 % believing insurance is crucial for financial security. Most consumers wait until premiums rise, life...
Commercial Insurance Renewal Hikes Slow in February: Ivans
Ivans, Applied Systems' analytics unit, reports that commercial insurance renewal hikes eased in February compared with January. Commercial auto rates rose 5.18% versus 5.62% in January, while business owners policies increased 6.81% from 6.89%. Property and umbrella coverages still posted...
Aon Expands George Attard’s Role to Global Head of Analytics, Reinsurance
Aon announced that George Attard will serve as Global Head of Analytics for Reinsurance Solutions, adding to his existing Chief Strategy Officer role. The expanded mandate focuses on accelerating Aon's reinsurance analytics, uniting data, technology, and more than 1,000 staff...
Empassion CEO: Palliative Care Significantly Impacts Payer Star Ratings
Empassion Health’s CEO Robin Hefferman says palliative‑care visits are excluded from CMS star‑rating calculations, a practice that can lift Medicare Advantage plans’ scores and protect hundreds of millions of dollars in payments. He explains that while exclusion improves ratings, effective...
Lancashire ‘Very Pleased’ with Outcome of Jan 1 Reinsurance Renewals: CUO Gregory
Lancashire Insurance Holdings reported strong outcomes from its January 1 2026 in‑ward and out‑ward reinsurance renewals, citing better‑structured products that curb earnings volatility. The renewals delivered rate adequacy and favorable net margins despite a more competitive, softening market. The insurer kept reinsurance...
The Kaiser Settlement Should End the Guesswork in Medicare Advantage Oversight
The U.S. Department of Justice secured a $556 million settlement with Kaiser Permanente for allegedly submitting unsupported diagnosis codes to boost risk‑adjusted Medicare Advantage payments. The case, covering nearly a decade of overcoding, underscores the systemic pressure on clinicians to add...
Captive Formations Accelerating Globally, Notably Rising for New Zealand and South American Firms – GILC
The 2026 Global Insurance Law Connect (GILC) report shows a sharp acceleration in captive insurance formations worldwide, driven by rising premiums and tightening capacity in the broader market. Growth is especially pronounced in New Zealand and across South American jurisdictions, where...
Aerospace Reinsurance Renewals More Benign than Expected Despite Claims Pressure: WTW
Willis Towers Watson (WTW) reports that aerospace reinsurance renewals for 2026 were more benign than market expectations despite a heavy claims year in 2025. While primary treaty‑layer pricing shows signs of upward pressure, overall capacity remains ample, limiting steep premium...
The Hidden Insurance Rules Keeping MLB Stars Out Of The 2026 World Baseball Classic
The 2026 World Baseball Classic is missing several marquee MLB players because of hidden insurance requirements imposed by MLB clubs. Teams must secure high‑cost injury policies for participants, and many stars, including Mike Trout, Francisco Lindor, and Carlos Correa, opted...
Gareth Davies Appointed Executive Vice President, Head of Property at Price Forbes Bermuda
Insurance carriers are confronting a surge in acute mental‑health cases that demand intensive crisis care, stretching traditional underwriting models. Emerging psychedelic therapies and widespread telehealth add layers of regulatory ambiguity and cross‑state liability. Social inflation is amplifying verdicts, especially in...
Citizens Rates Fall as Policy Count Decline Drives Lower Reinsurance Demand
Citizens Property Insurance Corporation cut rates after its policy count dropped 76% from the October 2023 peak, with regulators approving an average 8.8% reduction for homeowners and 5.5% for wind‑only policies. The shrinking exposure base has lowered reinsurance demand, prompting...
Howden US Hires Philip Stack as Managing Director, Alternative Risk & Captives
Howden US announced the appointment of Philip Stack as managing director of its Alternative Risk & Captives division. Stack will guide clients on structuring insurance programs and deploying alternative risk transfer tools such as captives, multi‑year structures, parametric solutions, and...
BirdsEyeView Launches AI Data Scrubbing to Streamline Hazard Modelling
BirdsEyeView, an ESA‑backed insurtech, unveiled AI Data Scrubbing, an automated tool that cleans, standardises and geolocates Statement of Values (SOV) files. The solution transforms raw exposure data into modelling‑ready inputs within minutes, handling up to 10,000 locations per run and...
JP Morgan Warns DFC Insurance Cap Is Too Small for the Risk
JP Morgan analysts warned that the Development Finance Corporation’s (DFC) insurance cap of $205 billion is far too low to cover the estimated $352 billion needed to insure all oil tankers transiting the Strait of Hormuz. The firm highlighted that private war‑risk insurers...
The Municipal Catastrophe Insurance Crisis
American municipalities are confronting a catastrophe‑insurance crisis rooted in industry inertia rather than risk scarcity. Insurers continue to collect premiums while withdrawing coverage, leaving low‑income residents, small businesses, and affordable‑housing developers exposed to climate‑driven losses. The article argues that without...
Liberty Mutual’s Net Income Rises 55% for FY’25 Amid Lower Cat Losses
Liberty Mutual Holding Company reported FY 2025 net income of $6.8 billion, a 55 % increase over the prior year, while its combined ratio improved to 88.4 % from 95.9 %. The fourth quarter saw net income rise 37 % to $1.7 billion and the combined ratio...
Ariel Re Appoints Sarah Morgan and Reed Gaglio to Property Leadership Roles
Ariel Re announced that Sarah Morgan will assume the role of Head of Property and Reed Gaglio will become Head of E&S Property Reinsurance, both effective 1 April 2026. Morgan succeeds Mike Cornish, who moves to a strategy, product development and special‑projects...
Inside the Modern Underwriting Strategy
Underwriting is transitioning from retrospective portfolio reviews to AI‑driven, real‑time decision support. A 2025 Accenture study shows 71% of underwriting executives view AI and automation as critical, and 75% expect meaningful AI impact within three years. Modern workbenches now surface...
CRO of the Year: Sheldon Lacy, Canopius Group
Sheldon Lacy marked his 10th year as chief risk officer and his 50th birthday while steering Canopius Group through rapid growth and a shifting insurance market. Since the 2019 AmTrust acquisition, the firm’s gross written premiums have surged 130%, and...
EP. 06: Making The Most of Technologies And Trends Impacting Adjusters
Rob Evans, director of claim process technology at Broadspire, emphasized that AI adoption should intentionally support adjusters rather than replace them. In a recent Claims Journal podcast, he highlighted how litigation prediction models and AI-driven notifications can improve claim outcomes...
Listen: What To Do When Health Insurance Slips Out of Reach
Health insurance coverage is slipping for many Americans as ACA marketplace sign‑ups fell by roughly one million this year and federal subsidies expired, driving premiums higher. Stricter Medicaid eligibility rules further limit options for low‑income households. KFF Health News correspondent...
Issues & Answers: An Environmental Shift
In this episode, John Weber interviews Melissa Mulhern, Assistant Vice President of Environmental Underwriting at Philadelphia Insurance Companies, to demystify environmental insurance. Mulhern explains that environmental risk isn’t limited to heavy industry—real estate, healthcare, schools, and senior living facilities also...
Homeostatic Compliance Management in GRC 7.0 – GRC Orchestrate
GRC 7.0 – GRC Orchestrate introduces a homeostatic compliance model that turns compliance from a periodic check into a continuous, adaptive system. It integrates regulatory intelligence, structured obligation management, digital twins, and agentic AI to sense, interpret, and orchestrate changes across...
Sedgwick: European Product Recalls Rose Again Last Year
Sedgwick’s 2026 State of the Nation Product Safety and Recall Index shows European recall events hit a record 15,608 in 2025, up from 14,484 in 2024. Every sector except medical devices posted year‑over‑year growth, with automotive and consumer‑product sub‑sectors jumping...
‘Stupendous Potential’: Pay-Per-Mile Auto Insurance Would Cut Costs And Traffic Violence
Governor Kathy Hochul is pursuing auto‑insurance reforms that would curb lawsuit payouts for crash victims, while experts argue a simpler solution—pay‑per‑mile (usage‑based) insurance—could lower premiums and improve safety. Pay‑as‑you‑drive policies tie rates to actual mileage, potentially reducing high‑risk driving by...
Group Benefits Enters Decisive Phase
Group benefits platforms are entering a decisive phase as consolidation creates complex, hybrid "frankenstacks" that increase rigidity. The industry’s rapid shift toward flexible benefit design, digital enrollment, and AI‑driven services demands architectures that can be reconfigured quickly. Mergers often prioritize...