Know What's Happening in Insurance
Know What's Happening in Insurance
Delaware Supreme Court Lets Insurers Pursue Blackbaud Cyber Breach Claims
The court reversed lower‑court dismissals, permitting insurers to bring breach‑of‑contract actions against Blackbaud over its 2020 ransomware incident. Blackbaud had earlier paid a $3 million SEC fine and $49 million to state attorneys general for misleading breach disclosures. The ruling may shape future cyber‑insurance coverage disputes.
PartnerRe dramatically reduced its risk cessions to the Lorenz Re special‑purpose cells, dropping from $529 million in 2023 to just $155 million in 2025. Correspondingly, the reinsurance recoverable tied to Lorenz fell from $921 million at the end of 2022 to $445 million by December 2025. The reinsurer is pivoting toward alternative vehicles such as the Huygens sidecar, which saw increased allocations from Dutch pension investors PGGM and PFZW, and a fund‑style ILS Fund. This shift reflects a broader re‑engineering of PartnerRe’s third‑party capital strategy.
International insurance markets are entering a new cycle phase, with rates slipping 4% in Q4 2025 – the sixth consecutive quarter of moderation. U.S. casualty lines remain an outlier, seeing price hikes driven by litigation funding and class actions. Meanwhile, heightened...
Algorithmic Insurance Services (LIRG) has arranged a $15 million quota‑share reinsurance deal for New York‑based managing general agent DLT Alert. The capacity backs the launch of a new suite of embedded parametric cyber warranty products aimed at cybersecurity solution providers, with...
Mauritius Financial Services Commission licensed two new pure captive insurers in December, doubling the jurisdiction’s non‑PCC captive count. One of the new entities, Master Drilling Captive, Ltd., received approval on 22 December 2025. The additions were driven by South African and Malaysian...
Infosys announced a definitive agreement to acquire Stratus, a U.S.‑based Guidewire consulting specialist with more than 450 experts. The deal, slated to close in the first quarter of FY2027, aims to combine Infosys' Topaz AI and Cobalt cloud platforms with...
The Insurance Journal and Risky Future are hosting a free virtual event on March 31, 2026 to explore how telematics and artificial intelligence are reshaping fleet risk management. Featuring experts from The Hartford, Motive and TAKKION, the session will showcase current telematics...
SmartSearch warns claims management firms and law practices that the FCA’s motor‑finance compensation scheme will go live after final rules are published on 30 March 2026, initiating a three‑to‑five‑month implementation window. Millions of consumers are expected to receive compensation before year‑end, creating...
Florida property insurers are under fire as homeowners report a wave of denied claims and premiums that have jumped 40% in recent years. Whistleblowers, including a former CEO and CFO, allege profit‑shifting and lack of transparency, while state officials tout...
Aliko Dangote’s refinery has lifted its ex‑depot gasoline price to N1,285 per litre – its fifth hike in March – as the U.S.–Israel war on Iran pushes crude to $120 a barrel. The move deepens Dangote’s downstream foothold while sparking...
Expanded deposit insurance for noninterest bearing accounts helps small businesses? What small business keeps over $250k in a zero yield account? If this is how banks think they are going to preserve deposits, the logic needs to be reexamined.
The EPA announced a proposal to extend the compliance deadlines for the 2024 TSCA risk‑management rules covering perchloroethylene (PCE) and carbon tetrachloride (CTC). For non‑federal entities, initial monitoring would move to June 21, 2027, with key milestones in September and December 2027. The...
Japanese conglomerate Itochu Corporation decided to re‑domicile its Bermuda captive to the Cayman Islands. The move was driven by the Cayman Islands Monetary Authority’s robust regulatory framework and the jurisdiction’s political and economic stability. The new captive, named GUNA Re,...
The Centers for Medicare & Medicaid Services (CMS) issued a Request for Information seeking feedback on proposed rules that would tighten ownership and identity verification for Medicare‑enrolled providers and suppliers. The agency is weighing a citizenship or permanent‑resident requirement for...
A Delaware court denied Meta coverage under its Commercial General Liability policy for thousands of lawsuits alleging that Facebook and Instagram were intentionally designed to foster addiction and mental‑health harms. The judge applied a narrow definition of “occurrence,” concluding that...
The House Financial Services Committee unveiled a new legislative package to reform deposit insurance, featuring a revised Main Street Depositor Protection Act that caps coverage for non‑interest‑bearing business accounts at $5 million, down from earlier proposals of $10‑$20 million. The bill delegates...
For the first time in five years, the ACA’s enhanced premium tax credits expire at the end of 2025, restoring the pre‑pandemic subsidy structure. Households earning just above 400% of the federal poverty level—about $62,600 for an individual or $84,600...
The Kansas House of Representatives approved a bill that would tighten regulations on pharmacy benefit managers (PBMs) to help lower prescription‑drug prices. The measure now heads to the Senate, where it could reshape how insurers negotiate drug rebates and pricing.
The NC State ERM Initiative released a practical guide for enterprise risk management leaders on how to communicate risk to the C‑suite and board. It outlines four pillars—focusing the message, structuring the process, designing concise materials, and ensuring messages are...
In its March 17 shareholder letter, Chubb CEO Evan Greenberg labeled managing general agents (MGAs) a "bad bet" and unveiled a four‑year plan to automate roughly 85% of underwriting and claims. The initiative includes cutting about 8,600 positions and targeting...
MedRisk’s latest trends report shows workers‑comp insurers accelerating injured‑worker treatment while scaling artificial‑intelligence tools beyond pilot projects. AI adoption is driven by rising claim complexity and the need for faster, data‑informed decisions, though many firms still wrestle with data quality,...
Humana and CommonSpirit Health have finalized a three‑year, nationwide contract that keeps CommonSpirit’s hospitals and outpatient sites in‑network for Humana’s Medicare Advantage members across 24 states. The agreement restores coverage lost in Colorado and Texas, stabilizing access for millions of...
The U.S. property‑casualty (P/C) sector posted a $61 billion underwriting gain in 2025, nearly three times the $22 billion recorded in 2024. A stronger combined ratio of 92.6% and a 6% rise in net premiums earned reflected disciplined underwriting and improved pricing...
Verisk’s latest data shows U.S. catastrophe losses fell sharply in 2025, dropping roughly 30% to about $5.5 billion. The decline propelled the domestic property‑casualty market into a net underwriting gain of roughly $1.2 billion, reversing a multi‑year loss trend. Analysts attribute the...
The Florida First District Court of Appeal ruled that the state workers’ compensation statute of limitations is tolled—meaning the two‑year clock stops—while an employee receives benefits and resumes one year after the last payment. This reinterpretation overturns decades of case...
Marsh Risk announced it has arranged insurance coverage for TerraPower’s Kemmerer Unit 1 nuclear plant, the first commercial reactor approved for construction in nearly a decade. The policy involves insurers in the United States, London and Bermuda, as well as nuclear...
On 24 March 2026 the Australian Prudential Regulation Authority (APRA) published its Insurance Climate Vulnerability Assessment, a stress test that projects how climate change could erode home‑insurance affordability through 2050. The analysis models two severe climate scenarios—heightened physical weather risks and costly...
Heat-related injuries are surging, with roughly 34,000 incidents and 479 fatalities between 2011 and 2022, prompting a wave of legislative activity. States such as Arizona, New Hampshire and California are introducing or revisiting bills that require written heat‑illness mitigation plans...
Lloyd’s of London says war risk insurance premiums for commercial vessels have surged to 7.5% of a ship’s value following the outbreak of the Iran conflict. Insurers warn that the cost for the most hazardous voyages could approach 10%, dramatically...
Cambridge Mobile Telematics announced a $350 million financing round led by private‑equity firm TPG and joined by insurers Allianz and State Farm. The capital will fuel AI model development, a European rollout with Allianz and a hiring push for 30 AI...
New Dawn Risk, a Lloyd's specialist broker, has teamed up with Continent 8 Technologies to deliver a combined cyber‑security and insurance offering for iGaming operators. The package bundles managed SOC, MDR, DDoS mitigation, WAAP and MFA with tailored insurance coverage,...
Roofing has moved from a peripheral maintenance task to a central risk‑management priority as insurers tighten underwriting standards and leverage satellite imagery to assess condition. Small, untreated defects can snowball into multi‑million‑dollar losses when storms cause water intrusion, equipment damage,...
AM Best’s latest report says HKIA’s proposed reforms to non‑life insurers’ capital rules could boost Hong Kong’s reinsurance hub status. The changes would scale back prescribed natural catastrophe risk factors and let insurers exclude offshore reinsurance from capital calculations, improving...
Aviva has launched a pilot ChatGPT app that delivers instant home‑insurance quotes within minutes. The app, available through the ChatGPT App Store, asks users basic details—name, address, contact and policy type—to generate a quote for Aviva’s Signature Home Insurance product....
New York State announced the rollback of its Essential Plan, ending near‑free health insurance for about 460,000 low‑income residents. The move eliminates a key safety‑net, prompting concerns from advocates and insurers about coverage gaps and market disruption.
KeyState has created a District of Columbia‑domiciled captive insurance entity, KeyState PCC LLC, aimed at mid‑sized firms exploring captive structures for the first time. The move responds to strong broker‑driven demand and comes with a pipeline of ready‑to‑use candidates. Founded...
Agentic AI is starting to change something fundamental in financial services: who actually drives profit and loss. We are moving beyond models that inform decisions. AI agents are beginning to price risk, approve loans, detect fraud, handle claims, and manage...
With the floodgates open for industrial bank charters & private equity & crypto owned banks, I’m extremely suspect on why there’s such a drive to dramatically increase FDIC insurance in zero interest yield deposits. A data driven, indexed system is...
Wisedocs unveiled an AI‑powered decision intelligence platform that automates the entire claims lifecycle, from intake to closure, for insurers, TPAs and legal teams. The solution’s WisePrep, WiseInsights and WiseShare modules classify, deduplicate and analyze documents—handling files over 100,000 pages—while delivering...
And, the ACA banned individual guaranteed renewable plans which existed, and protected against the emergence of preexisting conditions. The tax deduction for employer based group plans, but not for contributions to portable individual plans nails the coffin. Great essay.
In this episode Clark Howard discusses the rising costs and invasive tactics of homeowners insurance, highlighting insurers’ use of drones and AI to assess roofs and potentially raise premiums or deny claims. He answers listener questions on special‑needs planning, advising...
DUAL UK, the underwriting arm of Howden Group Holdings, has launched a new Credit Risk Insurance (CRI) solution to help clients manage payment and contractual risks in cross‑border trade. The product offers contract‑frustration coverage for up to 15 years and...
Berkshire Hathaway Specialty Insurance (BHSI) has rolled out two new Executive First Directors & Officers (D&O) liability policies in Switzerland, one aimed at commercial and industrial firms and the other at financial institutions and investment managers. The policies promise straightforward,...
Readhunt, an independent UK insurance broker, has secured Lloyd’s of London broker registration, granting it direct access to Lloyd’s syndicates. The accreditation expands the firm’s capacity to design bespoke insurance programmes for technically complex or non‑standard risks across sectors such...
Life‑science firms face volatile valuations that can trigger securities lawsuits whenever clinical data or regulatory decisions diverge from investor expectations. Shareholder litigation often begins with books‑and‑records demands after sharp stock declines, exposing directors and officers to costly D&O claims. Berkshire...
IAG, Australia’s largest insurer, is undergoing a sweeping digital transformation to strengthen its response to climate‑driven events and improve customer experience. The initiative consolidates legacy systems, moves to cloud‑native platforms, and integrates AI‑powered claim handling. A strategic partnership with Optus...
Hong Kong insurers are set to raise the risk profile of their investment portfolios, with 92% planning to do so over the next two years. The move is driven by a desire for higher private‑equity and venture‑capital returns, as assets...
E-moto "bikes" may be regulated in Minnesota soon. A new bill defines what an e-moto is and then requires licensing and insurance; sets an age limit of 15 and above; restricts where they can operate; requires a driver's license; and...
The article clarifies how general‑conditions costs are evaluated in builder’s risk claims, separating truly incremental expenses from fixed or duplicated overhead. It presents three typical claim scenarios—repair‑period costs, delay‑only costs, and combined repair‑and‑delay costs—and explains why only incremental or extended...
AXA warns that Thailand’s insurance protection gap, especially in general insurance, hampers economic resilience. While life and health coverage is strong among affluent Thais, low‑income households and many SMEs remain under‑insured against floods, earthquakes and other catastrophes. AXA’s Southeast Asia...
A panel of automation leaders highlighted rapid advances in AI‑driven robotics, autonomous mobile robots, digital twins and predictive maintenance that are reshaping warehouses. They stressed that buyers now prioritize measurable ROI, speed‑to‑value and seamless integration over technology for its own...
