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:
Korean Re Seeks Second Solomon Re Cat Bond, Adds Parametric Israel Quake as Covered Peril
Korean Re is sponsoring its second catastrophe bond through Solomon Re Ltd., targeting at least $75 million of retrocession capital. The new Series 2026-1 bond adds a parametric Israel earthquake peril, a rarity in the cat‑bond market. Two tranches are offered: a $50 million Class A covering US named storms, US earthquakes and the Israel quake, and a $25 million Class B covering only US storms and earthquakes. Both tranches use a mix of industry‑loss and parametric triggers to provide per‑occurrence protection over a three‑year term.
Spinnaker Targets Lower Pricing for New $100m Mountain Re 2026-1 Cat Bond
Spinnaker Insurance is preparing its second catastrophe bond, Mountain Re Ltd. Series 2026‑1, targeting $100 million of multi‑peril reinsurance. The sponsor has reduced the pricing spread to 7.25%‑7.75%, down from an initial 7.75%‑8.5% range. The new issuance adds fire coverage, primarily...
Reassured Debuts SAINT.AI to Cut Non-Disclosure Risk
Reassured, the UK’s largest life‑insurance broker, has launched SAINT.AI, a generative‑AI tool built with FOIL AI and Microsoft. The platform scans unstructured call transcripts and cross‑checks them against application data to flag medical disclosure gaps before underwriting. By surfacing inconsistencies early,...
Why Nobody Is Scoring the Road Ahead (And What It’s Costing Insurers)
In this episode, Gertz Weber, CEO and co‑founder of RootRisk AI, explains how his company is creating a forward‑looking, route‑level risk score for commercial fleets that predicts danger before a truck departs. He contrasts this approach with traditional, backward‑looking methods...
Balancing Technology and Expertise in Property Insurance Claims
The property insurance sector is rapidly adopting data, automation, and AI to streamline claim intake, triage, and processing. While these technologies deliver faster cycle times and greater consistency, the article stresses that expert judgment remains essential for accurate outcomes, especially...
Michigan High Court Sides With Progressive in Policy Misrepresentation Case
The Michigan Supreme Court upheld an appellate ruling that insurer Progressive could rescind a personal‑injury‑protection (PIP) policy after the insured, Janice Sherman, misrepresented her garaging location and household composition. Had she disclosed accurately, her premium would have risen about 83%,...
Crew Welfare Data Map Launched
The Sustainable Shipping Initiative (SSI), backed by the Lloyd’s Register Foundation, has published the first industry‑wide mapping of crew welfare, wellbeing and safety data. The study shows that while data exists, it is fragmented, siloed and inconsistently applied across owners,...
98% of Large U.S. Corporations to Redesign Insurance Programs in 2026, Survey Shows
A survey of 1,250 U.S. executives reveals that 98% of large corporations plan to overhaul their insurance programs in 2026. Executives cite rising litigation, cost pressures and workforce safety as the main drivers, prompting a shift toward more integrated risk‑management...
Treasury Meets with Life Insurers to Discuss Private Credit
U.S. Treasury Secretary Scott Bessent met with state insurance commissioners and the NAIC to examine life insurers' expanding exposure to private‑credit assets. Regulators are worried that the opaque, offshore‑heavy nature of the $2 trillion market could hide risks that threaten policyholder...
How to Successfully Integrate AI Into Claims Operations: Best Practices, Pitfalls, and Keys to Lasting Impact
Artificial intelligence is moving from pilot projects to enterprise‑wide use in workers‑comp claims, promising faster interventions and lower costs. Adjusters can now spot risk signals early, shifting the process from reactive to predictive and enabling more informed conversations with injured...
Medicare Launches $50 Copay Pilot for GLP‑1 Weight‑Loss Drugs Starting July 2026
Medicare announced a short‑term pilot that will cover GLP‑1 weight‑loss drugs—including Wegovy, Zepbound and Foundayo—for a flat $50 monthly copay beginning July 1, 2026. The program, run through Dec. 31, 2027, aims to broaden access for beneficiaries with obesity‑related health...
AXA Posts 6% Premium Rise to €38 Bn in Q1, Reinsure Pullback Boosts Profit Outlook
AXA reported a 6% increase in gross written premiums to €38 bn ($41.4 bn) in Q1 2026, driven by higher rates and volume across property‑and‑casualty, life and health. The insurer trimmed reinsurance by 7% to €1.2 bn while keeping its Solvency II ratio...
FCA Launches Market Review, Tightening Grip on Law Firms and Claims‑Management Companies
The UK Financial Conduct Authority has opened a comprehensive review of the claims‑management market, extending scrutiny to law firms, lead generators and other intermediaries. The regulator warned that failure to cooperate will trigger robust action and signaled possible legislative changes,...
AHA Expresses Support for Comprehensive Bill on Medicare Advantage Reform
The American Hospital Association (AHA) sent a letter to congressional leaders endorsing the Medicare Advantage Improvement Act (H.R. 8375/S. 4384). The bipartisan bill proposes sweeping reforms to curb practices in Medicare Advantage (MA) plans that limit care access and delay provider payments....
CMS to Provide Medicare Part D Beneficiaries with $50 Monthly Access to Certain GLP-1 Medications
The Centers for Medicare & Medicaid Services announced a short‑term demonstration called the Medicare GLP‑1 Bridge, offering eligible Part D beneficiaries access to selected GLP‑1 drugs for $50 per month. The benefit starts July 1 2026 and runs through Dec 31 2027. The program is...
Insurance Renewal Rates Mixed in April
Commercial insurance renewal rates in April showed mixed movements, with most lines still climbing. Umbrella liability premiums jumped 8.3%, the highest increase, though slightly lower than March's 8.8%. Property, business‑owners policies, general liability and auto liability also rose modestly, while...
Outdated Policy, Modern Costs: Rethinking Pharmacy Choice in Workers’ Compensation
Workers' compensation statutes still mandate unrestricted pharmacy choice, a rule rooted in a century‑old model of personalized drug dispensing. Over the past decades, independent pharmacies have vanished, giving way to large chains, big‑box retailers, and online providers dominated by Pharmacy...
Challenges Multiply in Construction Insurance: Aon
Aon's latest report shows global construction activity rising from $16 trillion in 2025 to $17 trillion in 2026 and approaching $22 trillion by 2030, amplifying insurance challenges. Larger project values increase exposure to natural catastrophes, geopolitical instability, and cyber threats. Insurers are tightening...
Brilliance in Focus: Gallagher Captives Power Broker Joshua Clark
Gallagher’s Joshua Clark, a 2025 Power Broker in the captives category, highlights the sector’s record year‑over‑year growth and its ability to turn insurance from a cost into a profit center. He stresses that captives excel at addressing “in‑between” enterprise risks...
UnidosUS: GOP Policies Put Latino Health, Coverage Gains At Risk
UnidosUS released a report warning that the Trump administration’s GOP health‑care agenda could trigger the largest drop in insurance coverage ever recorded, disproportionately harming Latino families. The analysis links proposed Medicaid work requirements, cuts to outreach funding, and a rollback...
Specialty Insurance Rates Drop to 2020 Levels, 10‑Point Index Decline Accelerates Softening
WTW’s Specialty Insurance Marketplace Survey reports a 10‑point fall in the rate index for 1 January 2026 renewals, pulling pricing back to 2020 levels. The decline affects 75% of the 42 material classes surveyed, far outpacing the 30% drop seen in 2024,...
Eiopa Consults on IGS Minimum Common Standards Across the EU
Eiopa has opened a public consultation on establishing minimum common standards for Insurance Guarantee Schemes (IGS) throughout the EU. The draft framework focuses on harmonising governance, funding mechanisms, and claim‑handling procedures to ensure consistent consumer protection across 27 member states....
Feds Expand Pharmacy Benefit Program
The U.S. Department of Labor announced an expansion of pharmacy‑benefit reforms under the Federal Employees’ Compensation Act, extending cost‑saving measures to workers covered by the Black Lung, Longshore and Harbor, and Energy Employees compensation programs. The initiative builds on 2018...
California Regulators Post Proposed Medical Evaluator Rules
The California Division of Workers' Compensation released an informal draft of rules to clarify eligibility for qualified medical evaluators (QMEs) and to permit remote‑only office listings. The proposal revises timelines for agency responses to applications and QME placement exams. It...
NYDFS Hits Delta Dental with $2.25 Million Penalty Over MOVEit Breach
The New York State Department of Financial Services (NYDFS) imposed a $2.25 million civil monetary penalty on Delta Dental Insurance Company and Delta Dental of New York for violating Part 500 of the Cybersecurity Regulation. The enforcement, the first of 2026,...
Financial Stability Risks Are Rising as AI Fuels Cyber-Attacks, IMF Warns; Oil Below $100 on Iran Peace Hopes – as...
The International Monetary Fund warned that AI‑driven tools such as Claude Mythos are accelerating cyber‑attack capabilities, creating systemic risks for global financial stability. Mythos can locate and exploit vulnerabilities in major operating systems and browsers, even for non‑experts, prompting the...
Michael Santocki Comments on Insurance-Related Cyber Liability Risks
Michael Santocki, senior counsel at Jackson Lewis, warned that cyber and professional liability exposures are intensifying as insurers adjust underwriting standards. In Business Insurance’s "Cyber Risks Evolve in Changing Claims Landscape," he highlighted rising claim frequencies, broader coverage triggers, and...
Captives Jump in to Insure Complex Risks in Higher Ed
Captive insurers are gaining traction among universities and academic medical centers as a way to bridge coverage gaps and curb double‑digit insurance premium hikes. Cornell University launched a single‑parent captive to self‑fund roughly $30 million of sexual‑misconduct exposure, with plans to...
Deepfakes Are Exposing Gaps in Cyber Insurance Policies
Deepfake technology is now being weaponized to impersonate executives, forge video calls, and manipulate voice recordings, creating a new class of cyber‑risk that bypasses traditional defenses. As attackers embed AI‑generated media into business‑email‑compromise and payment‑authorization workflows, many cyber‑insurance policies lack...
Problems at Kinsale Capital Group (KNSL)
Kinsale Capital Group, a $7 billion surplus‑lines insurer, has drawn sharp criticism from short‑seller The Bear Cave. The firm alleges Kinsade overcharges small‑business clients, loads policies with extensive exclusions and maintains a 60% policy‑holder retention rate—far below the 90% norm for...
BIPA Exclusions Gaining Traction: What Policyholders Need to Know
A wave of recent lawsuits is forcing insurers to tighten Biometric Information Privacy Act (BIPA) exclusions in liability policies. Courts are increasingly scrutinizing whether standard commercial general liability (CGL) coverage applies to biometric claims, and many rulings are siding with...
Regulators' Scary Demand on Insurance AI
Regulators are no longer satisfied with AI accuracy metrics; they now require insurers to identify a specific human who reviewed each high‑stakes AI decision. Under frameworks such as the EU AI Act, OSFI B‑15 and SR 11‑7, auditors will demand documented evidence...
Travelers (TRV) Launches AI-Powered Claim Insights Tool
Travelers introduced Claim Insights, an AI‑driven add‑on to its e‑CARMA platform, to help risk managers surface key claim data and accelerate decision‑making. The tool arrives as the insurer posted a strong Q1, delivering $7.71 earnings per share versus $7.08 consensus...
Santam, Weather Service Partner on Early Warning, Forecasting Capabilities
South African insurer Santam has partnered with the South African Weather Service (SAWS) to fund the installation of nine new automatic weather stations (AWS) nationwide. The stations fill critical observational gaps in regions such as Limpopo, Mpumalanga, KwaZulu‑Natal, the Eastern...
BREAKING: Trump Killed Half Of Obamacare While You Were Sleeping
A coalition of congressional measures enacted under the Trump administration has effectively dismantled roughly 70% of the health‑coverage gains made by the Affordable Care Act. The reforms impose 80‑hour monthly work requirements, halve the frequency of eligibility checks, let ACA...
Kin Insurance Issues $335 Million Catastrophe Bond, Expanding Storm Coverage Nationwide
Kin Insurance closed a $335 million catastrophe bond, its biggest ever, to secure multi‑year storm protection for homeowners beyond Florida. The deal, its fourth CAT bond, attracted record pricing and investor demand, underscoring the rising role of capital markets in insurance...
Real Estate’s Physical Risk Challenge
Physical climate risk has become the top material concern for real‑estate investors, eclipsing decarbonisation. Yet investors struggle with wildly divergent third‑party hazard models, especially outside the UK where flood maps are not universal. The industry is grappling with how to...
Vertex Secures German Reimbursement for CASGEVY Gene Therapy
Vertex Pharmaceuticals announced a reimbursement agreement with Germany's GKV‑Spitzenverband, granting sustainable access to its CRISPR/Cas9 therapy CASGEVY for patients 12 years and older with sickle cell disease or transfusion‑dependent beta thalassemia. The deal makes Germany the latest market to fund...
PGGM / PFZW ILS Investments Returned 12.4% in USD, Ended 2025 at $8.904bn AUM
PGGM’s insurance‑linked securities (ILS) portfolio, managed for Dutch pension fund PFZW, posted a 12.4% return in US dollars for full‑year 2025. The portfolio’s assets under management rose to $8.904 bn, a modest increase from $8.68 bn at the end of 2024. ILS...
Auto-Enrollment in Medicare Advantage Isn’t a Nudge. It’s a Trap
The Trump administration is weighing a policy that would auto‑enroll every new Medicare beneficiary into a private Medicare Advantage (MA) plan, assigning the lowest‑premium option in their ZIP code and locking them in for three years. Proponents label it a...
Enstar Sees Significant Growth Opportunities on the Live and Legacy Side: Dan Sanford
Enstar announced a pending acquisition of Accident Fund Holdings (AF Group), bolstering its legacy reinsurance platform. Managing Director Dan Sanford highlighted Bermuda’s strong regulatory partnership with the BMA as a cornerstone for legacy insurers. He noted growing demand for insurance‑linked securities,...
As Cyber Market Softens, Increased Captive Role Remains
Despite a sustained decline in commercial cyber insurance rates, companies are increasingly turning to captive insurers to finance cyber risk. Captives offer greater protection against volatile market pricing and allow firms to retain more control over coverage. While softer pricing...
Ukraine War Began Decline of Rules-Based Global Market
At the Marine Insurance Greece conference, Hellenic Chamber board member Yannis Triphyllis linked the Ukraine war to the unraveling of the rules‑based maritime market. Speakers highlighted the United States’ plunge from 63% to under 1% of global tonnage and China’s...
Group Captives Ascot’s Largest Growth Potential – Mark Benz
Group captives are attracting the most interest from U.S. clients, according to Mark Benz, EVP and head of alternative risk at Ascot. Ascot launched a dedicated captives unit in 2023, citing a hard insurance market as the primary catalyst. Benz highlighted...
AI ‘Trailblazers’ See 21% Higher Revenue Growth While Broader Insurance Industry Lags: Capgemini
Capgemini’s World Property & Casualty Insurance Report 2026 finds only 10% of P&C insurers are successfully scaling AI, while a small cohort of “AI trailblazers” enjoys up to 21% higher revenue growth and a 51% share‑price boost over three years....
FCA to Review Claims Firms over Poor Practices
The UK Financial Conduct Authority has opened a formal review of the claims management sector, targeting aggressive marketing, misleading advertising and consent‑free sign‑ups, especially in motor‑finance claims. The investigation will assess fee structures, consumer value, and the end‑to‑end customer journey,...
VIP Software Hires Chris Kennedy to Scale rateIQ Insurance Intelligence Platform
VIP Software announced the hiring of Chris Kennedy as Senior Vice President of Revenue Operations to drive the next phase of expansion for its rateIQ™ platform. The move targets scalable execution as the insurance intelligence layer gains traction across carriers...
Allianz Hands Global Commercial Cyber Book to MGA Coalition
Allianz Commercial is transferring its standalone global commercial cyber insurance portfolio to San Francisco‑based MGA Coalition. The multiyear deal gives Coalition primary underwriting, pricing and claims responsibilities while Allianz provides capacity, equity and board representation, positioning Coalition to become the world’s...
Roadzen’s VehicleCare Partners with Global Auto Parts Network TISAG-TEMOT to Build Integrated Claims-to-Repair Infrastructure in India
Roadzen’s AI‑driven VehicleCare platform has partnered with Germany‑based TEMOT’s global auto‑parts network to create an end‑to‑end claims‑to‑repair pipeline in India. The collaboration links VehicleCare’s garage connectivity with TEMOT’s distributor base, enabling demand aggregation, faster parts sourcing and better pricing for...
ACORD Launches Advisory Council to Align Data Standards Across North American P&C Sector
ACORD announced the creation of the Inter‑Association Advisory Council (IAAC), bringing together leading North American property‑and‑casualty distributor groups. The inaugural meeting on May 4 included AUGIE, CIAB, CISO, IAB, PIAs and WSIA, signaling a unified push for consistent data standards. ACORD...