Know What's Happening in Insurance
Know What's Happening in Insurance
Delaware Supreme Court revives insurers' breach‑of‑contract claims in Blackbaud cyber breach
The state's highest court reversed lower‑court dismissals, permitting insurers that covered Blackbaud's 2020 ransomware incident to pursue breach‑of‑contract claims against the nonprofit software provider. Blackbaud previously paid a $3 million SEC fine and $49 million to state attorneys general for misleading breach disclosures.
Chubb has announced a new $20 billion maritime war‑risk insurance facility focused on vessels operating in the Persian Gulf. The facility is designed to provide rapid, parametric payouts when predefined conflict triggers occur, helping ship owners manage exposure to regional hostilities. By pooling capital from sovereign and private investors, Chubb aims to broaden capacity in a market where traditional insurers have retreated. The initiative seeks to stabilize freight rates and maintain supply‑chain continuity amid escalating geopolitical tensions.
Morgan Stanley lifted its price target on digital insurer Lemonade and its shares rose, but the eight supplied sources do not disclose the new target level, percentage gain, or analyst commentary. The lack of source material limits verification of the...
Willis, part of WTW, has teamed with Circle Asia to launch Asia’s first dedicated art insurance facility for individual collectors and galleries. The new product lowers minimum premium thresholds, offering a single comprehensive policy that covers fine art, jewellery, home...
The Centers for Medicare & Medicaid Services (CMS) has finalized a rule that forces providers, insurers and clearinghouses to use standardized electronic transactions for claims attachments, projecting $781 million in annual savings. The regulation, slated to take effect May 26, 2026,...
The National Highway Traffic Safety Administration reported an 8% drop in U.S. traffic deaths in the first half of 2025, the steepest decline since 2008. However, five states—California, Florida, Georgia, Texas, and North Carolina—still account for a disproportionate share of...
A Maine state audit of Gateway Community Services uncovered over $1 million in improper MaineCare payments, prompting the department to suspend the provider’s reimbursements. Lawmakers and health‑care advocates are using the findings to demand broader Medicaid and insurance reforms aimed at...
The Centers for Medicare & Medicaid Services (CMS) has floated a 0.09% increase in Medicare Advantage (MA) payments for 2027, translating to roughly $700 million in extra funding but effectively a $324 per‑beneficiary cut after risk‑adjustment changes. Critics warn the flat...
Great review of the idea of potential enrollment right into Medicare Advantage (though doesn’t consider Chris’ added twist of competition between Traditional Medicare ACOs and MA) https://t.co/rcquVZ8zxn it would be fun to compete head-head (but would need level playing field)
KFF Health News senior correspondent Renuka Rayasam highlighted the "Priced Out" series on health‑insurance affordability, while rural health reporter Andrew Jones warned of a widening measles outbreak across North and South Carolina. Editor‑at‑large Céline Gounder explained how hospitals and insurers...
Recent New York workers‑comp rulings sharpen the limits on carrier liability and penalties. The Court of Appeals in Gonzalez held that attorneys cannot recover fees on late‑fee penalties, preserving the 20% surcharge for carriers. The 3rd Department upheld a $145,000...
Kinsale Capital Group (KNSL) has been upgraded to Strong Buy as its underwriting discipline and profitability remain solid despite a soft insurance market. The insurer posted a 71.7% combined ratio and a 26% return on equity, outpacing peers. Valuation has...
Lemonade (LMND) surged more than 16% after Morgan Stanley analyst Bob Huang upgraded the stock to overweight and lifted the price target to $85. The move was driven by Lemonade’s integration with Tesla vehicle data and a 50% discount for...
United Policyholders warns that the Federal Housing Finance Agency has weakened a long‑standing rule requiring replacement‑cost value (RCV) insurance for roofs on homes backed by Fannie Mae and Freddie Mac. The revised regulation now permits only actual cash value (ACV)...
MedPAC’s 2026 annual report to Congress concludes that Medicare’s statutory payment update of roughly 2.3% for FY 27 is sufficient and does not merit an extra boost. Hospital financial health is improving, with all‑payer operating margins rising from 5.2% in 2023...
Special needs plans (SNPs) are emerging as the primary growth engine for Medicare Advantage, with KFF estimating they will account for roughly half of enrollment gains between 2024 and 2025. By 2025, SNPs will cover about 21% of all MA...
Chubb, in which Berkshire Hathaway holds a roughly $11 billion stake, was named lead underwriter for the U.S. International Development Finance Corp.'s $20 billion Gulf shipping marine reinsurance program. The move places the insurer at the center of a geopolitical crisis that...
FINRA barred former Pruco Securities broker Avinesh Shankar after uncovering a scheme in which he used electronic signature software to forge client signatures on 115 annuity applications. The fraudulent filings generated $511,609 in advanced commissions that were never tied to...
Liability insurance shifted in the mid‑1990s to a shareholder‑first model, turning claims into cost‑control exercises rather than fast, fair payouts. Insurers now extend processing times, demand extensive documentation, and scrutinize payouts to protect capital. CEOs who treat insurance as a...
California lawmakers introduced Assembly Bill 2137 to create a statewide certification system for shops that fabricate engineered stone, granite, marble and similar slab materials. The bill directs Cal/OSHA to develop an application process, with certifications issued for three years beginning...
A Pennsylvania appellate court ruled that Scomed Supply, a distributor of durable medical equipment, does not qualify as a “health care provider” under the state Workers’ Compensation Act. The decision upheld the insurer’s refusal to pay additional reimbursement for supplies...
Chris Quirk’s guest post warns that mishandling notices of circumstances (NOCs) under claims‑made and reported policies can trigger coverage denials. The article cites the Evanston v. HRC Fertility case, where an incomplete NOC excluded individual defendants because they were not...
Intelligent AI has teamed up with Guidewire to embed its high‑resolution property risk and COPE (Construction, Occupancy, Protection, Exposure) rebuild cost data directly into the Guidewire InsuranceSuite platform. The integration delivers precise replacement‑cost estimates, enriched property attributes and peril‑specific risk...
A Seattle federal judge ruled that Potbelly Corp cannot invoke its Beazley Execuguard management‑liability policy for a wage‑transparency lawsuit under Washington’s Equal Pay and Opportunities Act. The court found the claim did not allege discrimination as defined in the policy,...
U.S. insurer Chubb has been confirmed as the lead underwriter for the International Development Finance Corporation’s $20 billion Gulf Maritime Insurance Facility. The program will provide war‑related hull, protection‑and‑indemnity and cargo coverage for vessels that meet U.S. eligibility criteria, primarily those...
On March 20, 2026, the Oklahoma Insurance Department revoked the license of Leslie Clark, a Stigler‑based insurance producer, and levied a $2,000 fine after an anti‑fraud investigation uncovered misappropriation of premium payments. Clark failed to appear at a Feb. 11 show‑cause...
The Texas Railroad Commission secured EPA approval to issue Class VI carbon‑storage permits, shifting authority from the federal level to the state. This primacy is intended to streamline applications, with a $50,000 filing fee, an annual $50,000 idle‑well charge, and a...
Motor insurers are accelerating the adoption of artificial intelligence to automate the entire claims lifecycle. Solera reports that several carriers have already implemented straight‑through processing, allowing AI to make end‑to‑end claim decisions without human intervention. The technology promises faster payouts,...
Guy Carpenter’s Asia‑Pacific CEO Tony Gallagher warned that terrorism risk is evolving toward smaller, more frequent attacks that blend physical, cyber and state‑linked threats. He highlighted the critical role of reinsurance pools and retrocession in providing market capacity far beyond...
Patients with eczema continue to encounter significant insurance obstacles, according to a 2025 National Eczema Association (NEA) survey. The study found that 40% of respondents experienced coverage issues, 15% never began prescribed therapy, and step‑therapy and prior‑authorization requirements delayed treatment...
Insurers covering gigawatt‑scale battery energy storage systems are moving beyond thermal‑runaway concerns to scrutinize balance‑of‑plant components such as high‑voltage transformers and EPC integration errors. Rapid product evolution, exemplified by a jump from 3 MWh Megapack enclosures in 2019 to 14.5 MWh units...
Slip‑and‑fall injuries account for over 25% of non‑fatal workplace incidents, yet many facility leaders still prioritize flooring products over operational discipline. The article argues that a process‑driven safety program—standardized cleaning, proactive inspections, clear responsibilities, and continuous training—delivers far greater risk...
Homeowners‑insurance premiums have surged 64% since 2019, pushing average annual costs to $1,950 and exceeding $4,400 in high‑risk states. The spike is inflating borrowers' debt‑to‑income ratios, causing 37% of lenders to lose deals and delaying closings. Brookings economists propose a...
A new Kaiser Family Foundation study reports that roughly 2 million people—about one in ten former ACA enrollees—are now uninsured after the expiration of enhanced federal subsidies. The loss follows a partisan showdown that halted a six‑week government shutdown and left...
CRC Group is tapping the insurance‑linked securities (ILS) market to back its new data‑center insurance product on the Insurisk platform, offering up to $500 million in capacity across property and casualty lines. The coverage spans the full project lifecycle—from construction and...
The National Assembly health committee warned that Kenya's Social Health Authority (SHA) is financially unsustainable, collecting roughly Sh7.4 billion monthly but spending Sh7.2 billion on operations. Only about 5 million of the 29 million registered members actually remit premiums, creating a large funding gap....
The UK government provided Jaguar Land Rover with a £1.5 billion loan guarantee after a ransomware attack that the Cyber Monitoring Centre estimates cost up to £1.9 billion to the British economy. The cyber watchdog warned that rescuing a single firm without clear criteria...
On March 6 California revoked 13,000 CDLs and on March 16 the FMCSA enacted a rule limiting CDL eligibility to H‑2A, H‑2B and E‑2 visas, stripping DACA, asylum and refugee holders of eligibility. Up to 200,000 drivers—about five percent of the U.S....
Marsh reports that primary representations and warranties (R&W) insurance premiums rebounded in 2025, ending a three‑year decline. North America saw the steepest increase, with rates up 16% year‑over‑year, while Asia’s premiums rose 8%. The price surge coincides with a near‑$5 trillion...
MS Amlin Syndicate 2001 posted a 50.2% jump in underwriting profit to $350 million for FY 2025, up from $233 million in 2024. Gross written premiums rose 9.6% to $2.88 billion while net earned premiums increased 18.5% to $2.39 billion. The combined ratio improved to...
OpenAI’s platform now hosts consumer‑facing insurance apps from Tuio and Insurify, prompting a 9% drop in insurance broker equities, which Goldman Sachs labeled “overdone.” Analysts argue the apps merely surface existing carrier APIs and underwriting flows, sending users back to...
The U.S. Department of Health and Human Services’ Office for Civil Rights has opened investigations into 13 states that require health‑insurance plans to cover abortion, alleging violations of the Weldon Amendment. The probe could lead to funding sanctions and forces...
Fintech strategies that work in developed markets often break in emerging ones. Volatile currencies, fragmented identity systems and shifting regulations force a completely different level of precision in how products are built and operated. What looks like speed in one market...
Automatic enrollment in Medicare Advantage plans under consideration, top Trump health official says https://t.co/Bgv6WBeo2u via @statnews
After the federal enhanced ACA subsidies expired, New Mexico became the only state to replace them with state‑funded assistance. The move averted an estimated 27,000 residents losing coverage and added roughly 10,000 new enrollees, setting a record for the state...
One Alliance North America Insurance Company is launching its first catastrophe bond through Bermuda‑based One Shield Re Ltd., targeting at least $100 million of multi‑peril reinsurance. The Series 2026‑1 Class A tranche will provide three‑year coverage for named storms across six states and...
AM Best upgraded Hanoi Reinsurance Joint Stock Corporation’s Long‑Term Issuer Credit Rating to bbb+ (Good) from bbb, while moving the outlook from positive to stable. The agency also affirmed the company’s Financial Strength Rating at B++ and its Vietnam National...
QBE, in partnership with Aurora, has launched a fully automated, algorithmic underwriting platform for complex marine specialty risks, marking the first time a major insurer embeds end‑to‑end lead underwriting within its own governance framework. The solution is live for QBE’s...
Insurtech Hippo has integrated its homeowners insurance into Progressive’s HomeQuote Explorer, reaching consumers online and through Progressive’s in‑house agents in eight states. The partnership, which began earlier this year via Progressive Advantage Agency, gives Hippo access to Progressive’s extensive distribution...
The Financial Times’ piece "The war over tail risks is in full swing" highlights a growing clash between financial institutions, regulators, and investors over how to measure and mitigate extreme, low‑probability events. It notes that banks and insurers are facing...
A Santa Monica civil trial pits Media Rights Capital (MRC) against insurer Fireman’s Fund over a $29.5 million claim tied to Kevin Spacey’s alleged mental illness. MRC argues Spacey’s diagnosis of sexual‑compulsive behavior rendered him incapable of performing, triggering the policy’s loss provision....
