Report Shows Wind Turbines Are The Biggest Driver of Offshore Claims
A new AXIS Capital report finds wind turbines account for 57% of offshore loss claims. Drive‑train component damage makes up two‑thirds of turbine‑related claims, while inter‑array cables represent 14% with a $6.8 million average cost. Foundation claims are the third‑largest driver at 8% with a $7.4 million average, and export cables have the highest per‑claim cost at $18.8 million. The analysis highlights growing technical risk across the offshore wind lifecycle and emerging mitigation strategies.
State Farm’s California Homeowners Rate Request: It’s Settled— Almost
State Farm, the California Department of Insurance and Consumer Watchdog have reached a settlement that leaves a 17% emergency homeowners‑insurance rate increase in place while providing refunds with 10% interest for condo and landlord policies. Renter‑insurance rates will rise slightly...
Pangaea Logistics Solutions Ltd (PANL) Q4 2025 Earnings Call Transcript
Pangaea Logistics Solutions (Palomar) posted a record $2 billion gross written premium for 2025, a 32% increase, and adjusted net income of $216.1 million, up 62% year‑over‑year. Adjusted return on equity rose to 25.9%, surpassing its 2x target. The company completed the...
Union Pushes to Cut Insurers From Medicaid Home Care Payment System
The 1199SEIU Healthcare Workers East union is rallying for the Home Care Savings and Reinvestment Act, which would strip private insurers from New York's Medicaid home‑care payment system and replace them with a state‑run fee‑for‑service model. Proponents claim the change...
CMS Notifies States of Options for Transitioning to 6-Month Medicaid Renewals
The Centers for Medicare & Medicaid Services released guidance on March 6 directing states to transition to six‑month Medicaid redeterminations beginning in 2027, as mandated by last year’s budget reconciliation bill. States have two implementation pathways: one that allows them to...
Insurance Industry Takes Strategic Stand on Resilience, but Adoption Lags
A new International Insurance Society survey shows resilience is now a core strategic priority for insurers, yet fewer than one‑in‑four have woven it into daily operations. Executives cite disaster (52%), digital (50%) and climate (47%) resilience as top focuses, with...
Severe Convective Storm Cat Bonds Offer an Opportunity for ILS Investors: Acrisure Re
Severe convective storms (SCS) have become a dominant U.S. catastrophe peril, generating roughly $200 billion in insured losses between 2020 and 2024—about 2.5 times the prior five‑year period. Over the past decade SCS accounted for half of global insured losses from...
Global Insurance Broker Aon Tests Stablecoin Payments with Coinbase, Paxos
Aon, one of the world’s largest insurance brokers, completed a proof‑of‑concept using stablecoins to settle premium payments. The firm partnered with Coinbase and Paxos to move USDC on Ethereum and PayPal USD on Solana, marking the first known stablecoin settlement...
Iran War Is Costing Small Airlines $200,000 Daily, Insurer Estimates
The ongoing Iran war is forcing small airlines to absorb daily losses of $100,000‑$200,000 per aircraft as operational disruptions remain largely uninsurable. Insurers are closely tracking the situation but have not yet raised premiums, opting to revisit risk exposures and...
Aviation Insurers Impose New Rules on Middle East Flights
Leading aviation insurers, including Germany’s HDI Global and Allianz Global Corporate & Specialty, announced new underwriting requirements for flights to several Middle Eastern countries. Operators must obtain advance notification and explicit insurer approval for destinations such as Iran, Iraq, Israel,...
Spain Competition Watchdog Investigates Insurers
Spain’s National Commission for Markets and Competition (CNMC) has opened an investigation into the country’s insurance sector over alleged coordination on compensation claim coverage and the exchange of client information. The probe focuses on potential collusion that could distort pricing...
CG Re Launches Aviation Practice
CG Re announced the launch of a dedicated aviation practice, expanding its reinsurance brokerage services into commercial airlines, aircraft lessors, OEMs, and emerging drone operators. The new unit will provide underwriting, risk‑management, and claims expertise, leveraging CG Re's global network...
Why Private Credit Stress Matters to the ILS Market: Corbett, Shuriken Capital
Brad Corbett of Shuriken Capital warns that mounting stress in private credit markets could spill over into the insurance‑linked securities (ILS) space. He identifies three transmission channels: correlated redemption pressure, tighter capital supply for new cat‑bond issuance, and a renewed...
RBMA Shares Concerns over Major Medicaid Cut Impacts
RBMA warned that upcoming federal Medicaid cuts could strip millions of coverage, especially in rural areas where balanced‑budget rules force states to trim enrollment or provider payments. The Congressional Budget Office projects 11.8 million loss of insurance, heightening financial strain on...
How API-First Platforms Simplify Insurance Pricing
Legacy pricing engines have long hampered insurers with complex integrations and high maintenance. Modern API‑first, cloud‑native platforms now allow pricing models to be integrated in days, scale elastically, and embed enterprise‑grade security. These platforms also unify actuaries, data scientists and...
Private Dental and Vision Insurance: Market Concentration Varied Among States
The GAO analyzed 2024 NAIC enrollment data and found that private stand‑alone dental and vision insurance markets are highly concentrated, with the three largest insurers capturing 38‑98% of dental and 41‑96% of vision group market enrollment across states. Median market...
Testudo Expands AI Liability Capacity to $9.25m
Testudo, a Lloyd’s coverholder, has secured additional underwriting capacity from Atrium and QBE, raising the limit of its generative AI liability insurance to $9.25 million per insured. The expanded capacity broadens coverage for enterprises deploying generative AI, addressing a surge in...
Real Estate Property Insurance Market Softens as Casualty Risks Create Headwinds
Lockton’s February 2026 market update shows commercial property insurance for real‑estate owners softening as competition drives 5‑15% rate cuts across most asset classes, with deeper discounts for catastrophe‑prone multifamily and hotel portfolios. In contrast, casualty liability pricing continues to climb,...
Bold Penguin Adds Foxquilt to Insurance Marketplace
Bold Penguin has partnered with digital managing general underwriter Foxquilt to bring admitted commercial general liability coverage into its Bold Penguin Terminal marketplace. The integration enables agents with Foxquilt market access to quote and bind policies directly through the platform,...
OneShield Deploys AI Hub with US Specialty Insurer
OneShield announced that a Michigan‑based specialty insurer has chosen its AI Hub platform to modernize its insurance operations. The AI Hub acts as an AI operating system, delivering large language models and agentic capabilities while coexisting with existing core systems....
Georgia Appeals Court Reverses $345M Judgment Against Insurers in School Sex Abuse
The Georgia Court of Appeals overturned a $345 million judgment that held five insurers liable for sexual‑abuse claims at Darlington School. The court ruled that policies written after the abuse period could not cover mental‑anguish injuries that manifested years later. Plaintiffs...
Report Signals Shift in Demographics of Policyholders, Claims Service Expectations
Sedgwick’s 2025 Loss Adjusting Insights Report reveals that Millennials and Gen Z now dominate insurance purchases, yet only 32% of Gen Z homeowners are very satisfied with their carriers. Younger policyholders demand flexible, digital‑first coverage and transparent communication, while 54% have switched...
How Rising Home Insurance Costs Are Linked to Credit Scores
Home insurance premiums are soaring, and new research shows that credit scores now drive a major portion of the price gap. Homeowners with fair credit (580‑669) can pay up to 2.3 times more than those with excellent scores, a disparity...
Insurers See Climate Risk as More than Underwriting Issue- #Wealth #AssetManagement #AssetFinance
A new MSCI Institute report finds insurers increasingly view climate‑driven physical risk as a systemic financial threat rather than merely an underwriting issue. Surveyed insurers rate their own preparedness higher than the sector’s, with notable gaps in Asia‑Pacific where only...
CMS Gives States Two Options To Transition To Six-Month Medicaid Eligibility Checks
The Centers for Medicare & Medicaid Services (CMS) announced that beginning in 2027 states must move Medicaid eligibility checks from annual to six‑month intervals for the expansion population. States have two pathways: an immediate transition for all eligible beneficiaries or...
Court Revives Suit over Water Worker’s Death in Flooded Vault
An Illinois appellate court revived a wrongful‑death suit filed by the estate of 20‑year‑old water worker Matthew Heiden, who drowned after being sent alone into an underground vault without required safety measures. The court found the plaintiff’s claims were not...
AM Best Upgrades Issuer Credit Rating of First Chicago Insurance Group Members
AM Best upgraded the Long‑Term Issuer Credit Rating for First Chicago Insurance Company and United Security Insurance Company to “bb+” from “bb,” while affirming a B‑rated Financial Strength Rating. Both entities now carry a stable outlook for the Long‑Term ICR, replacing...
Arbital Health Sees Rapid Adoption of Actuarial AI
Arbital Health announced rapid market adoption of its Merlin AI actuarial assistant, launched in October 2025. Leading payers and providers such as Arkos Health and CommuniCare have integrated the platform to monitor value‑based care contracts, forecast financial impact, and identify...
After Florida Charged People With Selling Insurance Licenses, 12 More Arrested
Florida authorities arrested 12 individuals linked to a scheme that sold insurance licenses through a fraudulent testing center in Miami. The operation, run by Rainier Miguel Salas’s D&R Financial Services, falsified Pearson VUE exams and provided pre‑licensing education. Salas previously...
Markets/Coverages: Floodbase Expands Parametric Platform
Floodbase has launched the Floodbase Quote API, a tool that automates parametric flood quoting for insurers and managing general agents. The API transforms traditionally manual, location‑by‑location pricing into instant, standardized quotes, allowing faster distribution to small and mid‑size commercial markets....
Federal Law Bars Cannabis as Treatment for Injured Worker
The U.S. Second Circuit Court of Appeals ruled that cannabis cannot be deemed a reasonable and necessary medical expense under the Longshore Harbor and Workers’ Compensation Act because it remains a Schedule I drug under federal law. The decision cites the...
Lockton Hires Former Marsh Energy Leader
Lockton, the world’s largest privately‑owned insurance broker, announced the appointment of a former Marsh energy division leader to head its energy practice. The hire brings roughly two decades of underwriting and risk‑management experience across oil‑gas and renewable sectors. Lockton aims...
Optum Real, Microsoft Partner on AI for Claims and Reimbursement
Optum Real has teamed with Microsoft to accelerate claims and reimbursement using Azure, Dragon Copilot and Microsoft Foundry. The joint solution embeds AI‑driven coverage predictions, documentation assistance and prior‑authorization support into Optum Real’s real‑time platform. Pilot data show up to...
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...
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...
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...
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...
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...
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...
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...