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:
UK Wants to Ban Firms From Insuring Russian Oil
The United Kingdom announced it will back a full ban on maritime services – including insurance and shipping – for Russian crude and refined oil, moving beyond the existing $44.10‑per‑barrel price‑cap rule. Trade Minister Chris Bryant said the UK will not let U.S. reluctance stop the measure and is prepared to coordinate with EU partners. The proposal aligns with the European Commission’s own maritime‑services ban, though implementation has been delayed by disagreements within the EU, notably Hungary’s opposition. Officials indicated the ban could be enacted as soon as possible once European consensus is reached.
Sedgwick: Five Industries Saw Higher US Recall Volumes in 2025
U.S. product recalls surged to 3,295 incidents in 2025, the highest in a decade across five key industries. Consumer products led with 414 recalls, while FDA‑regulated food recalls hit 517, a nine‑year peak. Automotive and medical device recalls slipped modestly,...
San Diego Approves $6M Settlement With Insurers for Flood Damage
San Diego’s city council approved a $6 million settlement with 17 insurers to resolve subrogation claims stemming from the January 2024 floods. The payment, drawn from the city’s self‑insurance program, concludes part of a broader litigation wave accusing the municipality of neglecting...
Court Sharpens Causation Standard in All-Risk Policies in Church Mutual Case
The U.S. 4th Circuit Court of Appeals ruled that under North Carolina law an excluded cause must be the sole cause of damage for an all‑risk policy exclusion to apply, reaffirming the 1973 Avis v. Hartford standard. The decision overturns...
Insurer Ducks Claims by Models Over Strip Clubs’ Use of Their Images Without Consent
A federal court in Massachusetts ruled that Blackboard Specialty Insurance Co. is not liable for a $1.9 million consent judgment against three strip‑club owners accused of using professional models' images without permission. The decision hinged on the fact that most photos...
A Framework for How ERM Should Talk With Company Leaders
Veteran ERM practitioner Karthick Dalawai explains that effective enterprise risk management hinges on how practitioners converse with business leaders, not merely on process compliance. He advocates a value‑based ERM model that emphasizes value creation, uses a balanced scorecard, and reframes...
MBIA Inc (MBI) Q4 2025 Earnings Call Transcript
MBIA Inc. reported a markedly narrower Q4 2018 GAAP loss of $7 million, driven by reduced loss‑adjustment expenses on its Puerto Rico exposure and lower LAE across structured‑finance assets. The company completed a restructuring of COFINA bonds, cutting insured debt service exposure...
National Health Investors Inc (NHI) Q4 2025 Earnings Call Transcript
National MI (NMI Holdings) reported a record 2025 year, posting $388.9 million net income (up 8%), diluted EPS of $4.92 (up 11%) and a 16.2% return on equity. Insurance in force reached $221.4 billion, a 5.4% year‑over‑year increase, while fourth‑quarter new insurance...
Hagerty Inc (HGTY) Q4 2025 Earnings Call Transcript
Hagerty Inc. reported Q3 2025 revenue of $380 million, an 18% year‑over‑year increase, propelled by 16% written‑premium growth and strong State Farm policy conversions. Operating profit jumped 240% to $34 million, lifting margins to 9% and net income to $46 million, a 143%...
Productive LIMRA Conference Fuels Momentum for Distribution Future
Orlando airport this evening ✈️🍋 Direct flight back to Raleigh… lemonade in hand. The LIMRA Distribution & Marketing Conference was a very productive week — great networking, strong speakers, and valuable conversations about the future of distribution. #LIMRA26 Grateful for the momentum. Looking...
Vrbo Guests Can Pay Fees to Get Refunds When Rain Ruins a Stay
Vrbo has teamed with WeatherPromise to sell a weather‑guarantee add‑on that automatically refunds guests when rain exceeds predefined thresholds during their stay. The coverage price varies dynamically between 3 % and 8 % of the total trip cost, reflecting destination, dates and...
Clalit Probes Suspected Cyberattack After Iranian-Linked Hackers Leak Patient Files
Clalit Health Services, Israel’s largest HMO, announced it is probing a suspected cyberattack after the Iranian‑linked group Handala claimed to have breached its systems. The hackers released thousands of documents containing patients' personal and medical information on public platforms. Clalit...
Commercial P/C Market Softest Since 2017, Says CIAB
The Council of Insurance Agents & Brokers (CIAB) reports that commercial property‑casualty premiums in Q4 2025 grew a mere 0.2%, the weakest pace since 2017. Nine lines of business, including cyber and workers’ compensation, posted declines, with directors & officers premiums falling 3.8%...
Agencies Want AI Governance. No Carrier Has Shown Up
Independent insurance agencies are rapidly embracing artificial intelligence, with two‑thirds planning to increase usage over the next year. Yet only 13% have a formal AI governance policy, and 55% lack any written guidance. No major carrier has introduced a dedicated...
MI Volumes Jump 12%, Competitive Pressure Builds
Private mortgage insurers collectively wrote 12% more new insurance in 2025, driven by a sharp rate‑cut‑induced surge in fourth‑quarter originations. While MGIC remained the top writer for the sixth straight quarter, the sector’s share continues to slip to the FHA...
Resilience: Cyber Risk Shifts From Disruption to Long-Tail Losses
Resilience’s 2025 Cyber Risk Report reveals a decisive shift from ransomware‑focused disruption to extortion attacks that rely on stolen data. Data‑theft‑only extortion claims rose to 65 % of incidents in the second half of last year, turning cyber incidents into multi‑year...
Share Your Industry Expertise on Stage at In2Risk 2026 in Las Vegas
The CPCU Society’s In2Risk 2026 conference will take place in Las Vegas from October 19‑21, featuring the theme “High Stakes. Smart Strategies.” Organizers are accepting educational session proposals from any professional until March 6, with topics ranging from AI and predictive...
Camp Mystic Parents Sue Texas, Allege Evacuation Plan Requirement Not Enforced
A federal lawsuit filed by families of nine children and counselors alleges Texas health officials licensed Camp Mystic without enforcing the state‑required evacuation plan. The suit targets six Department of State Health Services officials, claiming they knowingly approved a camp...
Cohen & Company Raises €481.5m for Subordinated Insurance Debt Funds
Fixed income specialist Cohen & Company announced that its European subsidiary raised €481.5 million for the PriDe IV subordinated insurance debt fund, the firm’s largest European vintage to date. The fund continues the company’s strategy of providing Tier II capital to small and...
U.K. Sanctions Maritime Mutual over Dark Fleet Coverage
Britain has placed sanctions on New Zealand‑based Maritime Mutual Insurance Association and its Gibraltar affiliate, accusing them of insuring dark‑fleet tankers that transport Iranian and Russian oil. The measures include an asset freeze and the disqualification of company directors. Maritime...
Santam Hires Munich Re Exec as CEO
Santam, South Africa's leading insurer, announced the appointment of a senior Munich Re executive as its new chief executive officer. The move follows a strategic review aimed at accelerating growth and deepening reinsurance capabilities. The new CEO brings extensive global...
Y Combinator Grad and AI Insurance Brokerage Harper Raises $47M
Harper, an AI‑native insurance brokerage founded by Y Combinator alumnus Dakotah Rice, announced a $46.8 million Series A and seed round led by Emergence Capital. Launched in 2024, the platform automates underwriting, routing, and document collection, enabling it to process over 1,000 policies...
Exclusive: Charter Space Launches an Insurance Brokerage
Charter Space has launched the Charter Interplanetary Risk Corporation (CIRC), a nationally licensed brokerage dedicated to providing insurance for space missions and related commercial risks. Building on its mission‑management software and data‑driven risk analytics, CIRC will place policies ranging from...
Alonso Tello Promoted to Regional Director, Single-Parent Captives, Americas at AXA XL
AXA XL has promoted Alonso Tello to regional director for single‑parent captives in the Americas. The move follows the January launch of AXA XL’s alternative risk solutions (ARS) team, led by Sylvain Bouteillé. Tello will oversee growth and underwriting of...
How Will Evolving Customer Expectations Change InsurTech in 2026?
In 2026 insurers, MGAs and InsurTechs face a shift from tech experimentation to meeting hyper‑instant, personalized customer expectations. Research shows 80% of policyholders will demand real‑time updates and 75% prefer tailored experiences. Executives highlight the rise of "micro‑engagement," the need...
Mondi Becomes Latest FTSE 100 Firm to Form Guernsey Captive
UK‑based packaging giant Mondi plc has established a single‑parent captive insurance company in Guernsey, completing the launch at the end of 2025. The move follows a growing trend among FTSE 100 companies to use offshore captives for risk retention and capital...
Beyond Catastrophes: The Untapped Potential of Predict & Prevent
Insurance firms face over $100 billion in annual natural‑disaster losses, prompting a shift toward predict‑and‑prevent technologies. While IoT sensors, fortified building standards, and AI‑driven flood detection are gaining traction, the article highlights a less‑visible opportunity in the cold‑chain supply‑chain. Technova Industries...
AM Best Affirms Rating of Sony Captive
AM Best has reaffirmed the financial strength rating of A (excellent) and the long‑term issuer credit rating of a+ (excellent) for PMG Assurance, the Bermuda‑based captive of Sony Group. The ratings carry a stable outlook, underscoring the captive’s robust capital...
Allstate Secures $1.2bn Reinsurance with New Sanders Re Cat Bonds, Its Largest Placement Ever
Allstate has priced and closed two catastrophe‑bond series, Sanders Re IV Ltd. (2026‑1A) and Sanders Re III Ltd. (2026‑1B), delivering a record $1.2 billion of multi‑peril, multi‑year reinsurance in a single market visit. The issuance comprises four tranches—two four‑year and two...
Hiscox Capital Partners Grows ILS AUM to $1.5bn, Secured $330m of Inflows over Last Year
Hiscox Capital Partners lifted its insurance‑linked securities (ILS) assets under management to $1.5 billion as of 1 January 2026, driven by $330 million of new inflows over the past year. The inflows offset planned capital returns and boosted deployable capital for the January reinsurance...
AI-Generated Rumors Trigger Real Market Swings
An AI-generated doomsday scenario was enough to rattle real markets. Shares in Uber, Mastercard and American Express dipped, not because of fundamentals, but because narrative spread faster than verification. When synthetic analysis triggers real capital flows, we’re in a feedback loop with...
INTX’s Lewis: Radical Automation Shapes Future of Insurance Workforce
In this episode, John Weber talks with Rob Lewis, CEO of Intex Insurance Software, about Chubb’s plan to automate 85% of underwriting and claims functions and cut 20% of its workforce. Lewis explains that legacy core systems have hit a...
Consolidation Without Chaos: How ALKEME Integrates and Grows at Scale
In this episode of the InsurTech Leadership Podcast, Curtis Barton, CEO of Alchemy Insurance, explains how his firm has built a scalable brokerage platform through disciplined acquisitions, unified data, and a focus on organic growth. He contrasts Alchemy’s producer‑led, data‑centric...
Claims Handling Breakdowns From LA Wildfires One Year On
One year after the Palisades and Eaton wildfires, first‑party property claims are increasingly turning into legal disputes as insurers lag on replacement cost adjustments and customer service. Many carriers initially undervalued rebuild costs in California’s high‑price market, then froze allowances...
Root Inc (ROOT) Q4 2025 Earnings Call Transcript
Root Inc. reported a record‑setting 2025, with revenue up 29% and net income rising 30% to $40 million, driven by a 1,619% jump in gross written premium and a doubling of policies‑in‑force. The company’s AI‑enhanced pricing lifted average customer lifetime value...
UWM Holdings Corp (UWMC) Q4 2025 Earnings Call Transcript
United Fire Group reported a record‑setting 2025 year, delivering $67 million underwriting profit, a 9% rise in net written premium to $1.3 billion, and a combined ratio of 94.8%. Investment income jumped 20% to $98 million, pushing return on equity to 13.7%, the...
Fidelis Insurance Holdings Ltd (FIHL) Q4 2025 Earnings Call Transcript
Fidelis Insurance Holdings reported its strongest underwriting results to date, posting a 79% combined ratio—its lowest as a public company—and an annualized operating ROAE of 21.4%, up five points year‑over‑year. Gross premiums written rose 8% to $798 million, while the reinsurance...
Amerisafe Inc (AMSF) Q4 2025 Earnings Call Transcript
Amerisafe Inc. reported Q4 2025 earnings with an 11.7% quarterly increase in gross premium written and a 6.7% year‑over‑year rise, driven by strong voluntary premium growth and a 93.7% renewal retention rate. The insurer posted a 18.5% return on equity...
TWFG Inc (TWFG) Q4 2025 Earnings Call Transcript
Employers Holdings reported Q4 2025 gross premiums of $156.8 million, an 11% decline driven by weaker new business and audit premiums, while losses and LAE jumped 18.7% to $134.4 million. Net investment income rose 17.6% to $31.4 million after a strategic portfolio rebalancing...
Insurance's Key Role for AI Agents
AI agents are evolving from advisory tools to autonomous actors, creating an emerging "Agentic Commerce" economy. To operate at scale, these agents must be bounded by clear authority and risk controls, which the insurance industry can provide through underwriting and...
A New Approach to Auto Safety
The article proposes that insurers share hard‑braking telematics data with transportation agencies to pinpoint dangerous road segments. A Google study of ten years of crash records found a strong correlation between aggregated hard‑braking events and actual crashes, correctly flagging hotspots...
Protected: The Mental Health Crisis Is Changing — Here’s What Insurers Need to Know
The mental health crisis is evolving, prompting insurers to reassess risk strategies. Philadelphia Insurance Companies (PHLY) highlights a multi‑faceted approach, offering product‑specific resources, alliances, and services such as safety program development, site audits, and interactive web‑based training. These capabilities aim...
TWIA Board Opts to only Buy Reinsurance and Cat Bonds up to 1-in-50 Year PML in 2026
At its Galveston meeting, the Texas Windstorm Insurance Association (TWIA) Board voted to purchase reinsurance and catastrophe bonds only up to the statutory 1‑in‑50 year probable maximum loss (PML) level for 2026. The revised funding target of $4.3051 billion translates to...
EqualityMD’s Pre-Insurance Strategy to Reduce Care Avoidance and Lower Healthcare Costs
In this episode, Unity Stokes chats with Justin Ayers, CEO of EqualityMD, about the company’s shift from a direct‑to‑consumer, membership model to a B2B/B2B2C platform that offers employers an insurance‑free telehealth solution with culturally competent clinicians and free prescriptions. Ayers...
US Insurers Remain Optimistic on Investment Conditions for 2026: Conning
U.S. insurers remain optimistic about 2026 investment conditions, with 76% of survey respondents seeing improving opportunities despite expectations of higher inflation, tighter liquidity and lower Fed rates. The optimism is driven by higher yields on high‑quality fixed‑income securities and attractive...
2026 Trends Vital to Compete and Accelerate Growth in a New Era of Insurance
The article outlines eight transformative trends reshaping the insurance sector in 2026, from AI‑native core platforms and human‑centric AI to the expanding Silver Economy and fast‑growing specialty products such as parametric insurance. Majesco positions its cloud‑native, AI‑driven SaaS suite as...
Andy Yeoman: When AI Rewrites Risk Transfer | TRP #162
In this episode, Andy Yeoman of Concierus walks hosts Jared and Ben through the evolution of InsurTech, from early marine analytics to the current AI‑driven platform that delivers both speed and certainty in underwriting. He stresses that technology must be...
Mexico’s Cartel Violence Could Hit Economy and Insurance Segment: AM Best
Cartel violence erupted in Mexico after the killing of leader Nemesio Oseguera Cervantes, halting flights and disrupting tourism in Puerto Vallarta. Tourism, which contributes about 10% of Mexico’s GDP, faces short‑term setbacks and longer‑term perception risks. AM Best issued a negative...
Liberty Mutual and Floodbase Launch Instant Parametric Flood Quoting Tool for US Market
Liberty Mutual and Floodbase have launched an instant quoting application for parametric flood reinsurance in the United States. By linking Liberty’s pricing engine with Floodbase’s API, brokers can price large‑area flood cover within minutes, streamlining a traditionally complex process. The...
New Texas Law Requires Insurers Provide Reason for Declining or Canceling Policies
A Texas law, HB 2067, took effect on Jan 1 2026 requiring all property‑and‑casualty insurers to provide written reasons when declining, canceling, or not renewing auto or homeowners policies. The mandate rolls out in three phases—first residential property and private passenger auto, then...