UK Regulator Launches Review of ‘Aggressive’ Claims Management Firms Amid Compensation Concerns
The UK Financial Conduct Authority (FCA) has launched a comprehensive review of claims management companies (CMCs) after uncovering aggressive marketing, misleading advertisements, unfair exit fees and unauthorized sign‑ups targeting victims of the motor‑finance scandal. The regulator says it has already removed or amended 800 ads and helped more than 28,000 consumers exit contracts at no cost, while three firms have agreed to lower their fees. CMCs can charge up to 33% of payouts, potentially delaying compensation for claimants. The review aims to restore trust and enforce fair practices across the fast‑growing sector.
SCOR Continues to Grow in Property Cat Reinsurance, Sees Market as Competitive
SCOR kicked off 2026 with €220 million ($240 million) adjusted net income and a 21.15% return on equity, both higher than a year earlier. The combined P&C ratio fell to 80.2% thanks to a 4.2% natural‑catastrophe loss ratio, while the firm added...
Thunderstorm Damages Rooftop Plants, Raises Solar Panel Quality Concerns
A severe thunderstorm in Rajasthan damaged roughly 200 rooftop solar installations, exposing cracked panels, broken frames and displaced modules. Industry insiders say most of these systems are uninsured, leaving owners to absorb losses that can run into thousands of dollars....
Report on Vulnerabilities in Private Credit
The Financial Stability Board’s May 6 2026 report estimates the global private‑credit market at $1.5‑$2 trillion, noting rapid expansion beyond medium‑sized firms. It highlights that asset managers, banks, insurers, pension funds and private‑equity firms are increasingly interlinked, creating new channels for risk transmission....
No, Florida Lawmakers Did Not Repeal the No-Fault Auto Insurance Law
Florida’s 55‑year‑old no‑fault personal injury protection (PIP) law has not been repealed, despite recent headlines claiming otherwise. Bills to eliminate PIP surfaced in the 2025 and 2026 sessions but died in committee, and Governor DeSantis vetoed a 2021 repeal attempt....
FWD Takaful, MBSB Bank Forge Bancatakaful Tie-Up to Widen Syariah Insurance Access
FWD Takaful Bhd and MBSB Bank Bhd have signed a bancatakaful partnership to broaden the reach of Sharia‑compliant insurance across Malaysia. The deal lets FWD distribute its digital‑first takaful products through MBSB’s extensive branch network and sales force, while the...
Insurity Challenges AI Hype in Insurance Core Systems, Calls on Insurance Carriers to Demand Real Cost and Timeline Reductions From...
Insurity, a cloud‑software leader for P&C carriers, is pushing back against the wave of “agentic AI” hype from legacy core‑system vendors. It argues that most AI add‑ons merely sprinkle intelligence into narrow tasks while still demanding costly, multi‑year professional‑services engagements....
F5 AI Guardrails Quickstart: Answering the Hard Questions
A financial services firm is piloting an AI assistant that draws answers from its own underwriting manuals and regulatory filings. To address security gaps, F5 offers an AI Guardrails quickstart that adds an inline inspection layer for both prompts and...
Cyber Risks Evolve in Changing Claims Landscape
Cyber insurers are seeing a shift as claims move from purely first‑party reimbursements to broader third‑party exposures, often involving multiple policies. Experts at the Riskworld conference warned that social‑engineering fraud can trigger both cyber and crime coverage, while disclosure issues...
Risk Management Develops Rapidly in Changing World
Risk managers are moving beyond traditional insurance reliance toward a broader, data‑driven risk strategy, using forecasting, modeling, and analytics to anticipate and quantify threats. The shift is fueled by richer internal and external data, evolving technology, and a stronger focus...
Risk Managers Urged to Take Strategic, Problem-Solving Approach
Risk professionals at RIMS Riskworld were urged to move beyond buying insurance and adopt a strategic, curiosity‑driven approach, likening effective risk programs to an ostrich’s wide‑angle vision and a monkey’s problem‑solving agility. They highlighted natural hazards as the dominant exposure,...
AHA Comments on Proposed Changes to Medicare Advantage, Part D Data Reporting Requirements
The American Hospital Association (AHA) submitted formal comments to the Centers for Medicare & Medicaid Services (CMS) on proposed revisions to Medicare Advantage (MA) and Part D data reporting for contract year 2027. The changes clarify contract definitions, require reporting for...
Investigations Key as Employers Navigate Rising Psych Comp Claims
Workers‑comp claims for mental injuries are climbing as more states adopt pure "mental‑mental" coverage, expanding employer exposure. The shift is driven by new legislation—such as Kentucky’s 2025 law—and a changing workforce, with Gen Z poised to become one‑third of employees by...
Capacity Not Keeping up with Data-Center Growth
Data center construction is booming, outpacing the insurance industry’s ability to provide capacity. Swiss Re’s Michael LaRocca warned that AI, cloud and digital connectivity are driving demand, while insurers struggle to keep up, with premiums projected to rise from $10.6 B...
Reinsurance Capital Rises, yet Profitability Falls: Gallagher Re
Gallagher Re disclosed that its reinsurance capital increased by roughly 12% to about $2.5 billion in the latest fiscal year, while net profitability slipped 18% to $150 million. The profit decline was driven by a surge in workers’ compensation, cyber, and emerging...
PRA CP8/26: Funded Reinsurance
The Prudential Regulation Authority has issued consultation paper CP8/26 proposing stricter rules for funded reinsurance to curb systemic risk in the UK pension‑risk‑transfer market. The plan would lift the capital charge from roughly 2‑4% to about 10% of the liability...
Flagged Hospitals Say They Are Not Financially Endangered
Public Citizen’s March 31 report labeled 446 hospitals as at heightened risk of closure or service cuts due to projected Medicaid reductions under the One Big Beautiful Bill Act (OBBBA). Several flagged facilities—including Northwest Mississippi Regional Medical Center, Minden Medical...
5 Questions for MSIG USA’s Ron Morrison
Ron Morrison, chief claims officer at MSIG USA, says the insurance‑claims landscape is being reshaped by AI and broader claims transformation. He stresses that change management, trust and thorough training are prerequisites for any AI rollout to succeed. By automating...
UK Repair Shops May Risk Losing Insurance without EV Training
Independent garages in the UK face a growing insurance hurdle as insurers increasingly refuse coverage to workshops lacking EV‑trained technicians. With more than two million electric vehicles on British roads, the frequency of high‑voltage repairs is rising, exposing untrained staff to...
Marine Insurance – Can New Conflicts Be Covered by Old Clauses?
The marine insurance market is relying on decades‑old war clauses as vessels face prolonged disruptions in the Persian Gulf, Red Sea and Gulf of Aden. While hull coverage has adapted through recent IUMI and JWC updates, cargo war policies still...
Rhode Island Approves 2.5% Workers’ Compensation Decrease
Rhode Island’s Department of Business Regulation approved a 2.5% average reduction in workers’ compensation loss costs, effective August 1, 2026. The cut applies to industrial classes, while federal “F” classes see a steeper 12.9% decline and USL&HW classes remain unchanged. This marks...
California Earthquake Authority Returns to Sponsor $300m Sutter Re 2026-1 Cat Bond
The California Earthquake Authority (CEA) is re‑entering the catastrophe‑bond market, targeting $300 million of fully‑collateralized earthquake reinsurance via the Sutter Re Ltd. Series 2026‑1 issuance. The deal will consist of two tranches—a $200 million Class C at a $5.503 billion attachment and a $100 million Class F...
The Medicaid Maternity Cliff: 84% of Health Plan Leaders Expect Major Care Disruption in 2026
Sage Growth Partners’ Q1 2026 report flags a looming "Medicaid Maternity Cliff," with 52% of Medicaid‑enrolled pregnant women expecting to lose coverage after eligibility redeterminations. The study finds 84% of health‑plan leaders anticipate moderate to severe disruption in maternal and infant...
Insurer QBE Faces Investor Pressure Over Extreme Weather Risks
Australian Ethical Investment, which manages about $10 billion, is pressing QBE Insurance Group for more detail on its exposure to extreme‑weather risks. The pension fund, holding roughly $46 million of QBE shares, has filed a shareholder resolution backed by about 100 investors...
Organized Crime Reshapes Cargo Theft as Impersonation Tactics Mature Into Scalable Threat
Verisk CargoNet reported 767 supply‑chain crime events in Q1 2026, a 5.3% decline year‑over‑year, yet confirmed cargo thefts rose to 596 incidents, up 41 cases, with losses steady at $131.58 million. Organized‑crime groups are now targeting high‑value, easily resold goods and using...
Global Indemnity Group, LLC Reports First Quarter 2026 Financial Results
Global Indemnity Group posted a strong first‑quarter 2026, reporting operating income of $8.3 million ($0.57 per share) versus a $4.1 million loss a year earlier. Net income turned positive at $4.1 million ($0.29 per share) and the current accident‑year combined ratio improved to...
Cyber-Physical Risk: A Growing Concern for South African Companies
South African firms are confronting a surge in cyber‑physical risk, where cyberattacks can damage equipment, halt production, and trigger costly business interruption. Global incidents of physical impairment rose 146% in 2024, and Africa’s cyber‑insurance market—valued at roughly US$283 million—remains under‑penetrated, leaving...
Hotels Scrutinized in Wake of Sex Trafficking Cases
Recent multi‑million verdicts and settlements—$40 million, $17.5 million, $6 million and $5 million—have thrust sex‑trafficking risk into the spotlight for hotels. Insurers are tightening underwriting, adding sub‑limits, exclusions, and higher deductibles, and demanding proof of active anti‑trafficking controls. Hotels are responding with expanded employee...
Study Finds Weak Penalties for Medicare Advantage Rule Violations
A Brown University study published in JAMA Internal Medicine examined CMS enforcement of Medicare Advantage plans from 2010‑2023. It found that 87% of the 844 actions were modest monetary penalties, with fines averaging under $3 per enrollee and a peak...
Global Indemnity Group LLC (GBLI) Q1 2026 Earnings Call Transcript
Global Indemnity Group reported a sub‑90% accident‑quarter combined ratio of 89.3%, delivering an $11 million underwriting profit and marking the first such improvement in years. Premium growth was uneven, with core Belmont up 9% driven by a 77% surge in assumed...
Bowhead Specialty Holdings Inc (BOW) Q1 2026 Earnings Call Transcript
Bowhead Specialty Holdings reported a 24% rise in gross written premiums to $862.8 million for 2025, driven primarily by a 28% surge in casualty business. Adjusted net income jumped 30% to $55.6 million, while the expense ratio slipped below 30%...
UT Austin Students Win Spencer-RIMS Challenge
A University of Texas at Austin risk‑management team captured the top spot in the 2026 Spencer‑RIMS Student Risk Management Challenge at Riskworld, earning a $10,000 cash prize. The competition, which drew 53 teams from 12 countries, required participants to devise...
California Seeks ‘Historic’ Fine Against State Farm: Just $2 Million
California’s Department of Insurance announced it will seek a record $2 million penalty against State Farm, the state’s largest homeowner insurer, for mishandling wildfire claims from the 2025 Los Angeles fires. A market‑conduct exam of 220 claims uncovered 398 statutory violations across...
Comer Targets CPT System ‘Complexity,’ Citing Concerns Over Fraud, Rising Health Spending
House Oversight Committee Chairman James Comer warned that the American Medical Association’s Current Procedural Terminology (CPT) code system is overly complex, creating loopholes for fraud and inflating federal health‑care spending. He has asked the Centers for Medicare & Medicaid Services...
Casinos Ramp up Tech, Coverage for Emerging Risks
Casino operators are accelerating the use of advanced security technologies such as facial‑recognition cameras, metal detectors, and coordinated police drills to counter rising active‑shooter and violent‑incident threats. At the same time, cyber‑risk mitigation has intensified after high‑profile malware attacks on...
AI-Fueled Fraud Creates New Cybercrime Frontier for Risk Managers
At the Riskworld conference, The Hartford’s cyber‑risk leader warned that AI is reshaping fraud, with deepfakes, business email compromise and payment‑transfer scams now eclipsing traditional ransomware. Threat actors use AI‑generated voices and videos to impersonate executives, while automated social‑engineering tools...
Executives Warn AI Risks Are Outpacing Regulation
Executives at Aon's Riskworld conference warned that generative AI is being adopted at "hyper" speed, outpacing both compliance and regulatory oversight. They highlighted that tools like ChatGPT, Claude and Pi are already influencing decision‑making, risk analysis and operational efficiency across...
Pinnacle Bankshares Corporation Announces First National Bank’s Sale of Membership in Bearing Insurance Group, LLC
Pinnacle Bankshares Corporation announced that its subsidiary, First National Bank, completed the sale of its membership interest in Bearing Insurance Group, LLC on May 1, 2026. The company estimates a pre‑tax gain of roughly $3.8 million, which will be reflected in its...
Corporate Buyers Increasingly Filling Gaps with Parametric Cover
Parametric insurance is gaining traction among corporate buyers across multiple sectors as they seek to fill gaps in traditional property programs. Swiss Re Corporate Solutions’ senior vice president Megan Linkin said companies are using parametric cover to fund deductibles, emergency...
Claims Complexity, Talent Gaps Reshape Risk Landscape
A panel at the Riskworld conference warned that claims are growing more complex and longer‑tailed, driven by social inflation, emerging risks and a surge in high‑value nuclear verdicts. New technologies such as autonomous vehicles are blurring traditional coverage boundaries, while...
How Small Business Insurance Is Evolving: Balancing Speed, Data, and Underwriting Discipline
Small business insurers are shifting toward frictionless, auto‑populated quoting platforms that mimic consumer‑grade software. Carriers like Philadelphia Insurance Companies use prefill technology and external data—credit scores, public records, and property details—to cut agent keystrokes and improve pricing accuracy for policies...
Court Confirms when a Worker Is a Dog’s ‘Owner’
Ontario’s Dog Owners’ Liability Act (DOLA) expands the legal definition of a dog’s owner to anyone who has care and control of the animal at the time of an incident. A court upheld that a part‑time dog walker was the...
Westcap Launches Excess Liability Product
Westcap Insurance Services introduced an Excess Liability product aimed at construction and manufacturing clients, adding a supplemental layer above primary policies. The coverage is designed for complex, evolving risk profiles and will initially launch in eight western states, with plans...
What They’ll Be Talking About at Riskworld
Riskworld, the RIMS‑organized mega‑conference in Philadelphia, is expected to host more than 10,000 risk professionals. Speakers highlighted a "polycrisis" environment where multiple, interlinked threats—from Middle‑East conflicts to AI‑driven disruptions—are reshaping enterprise risk. CFOs will grapple with budget uncertainty as geopolitical...
Iran War Strains Global Business Travel, as Companies Adjust Meeting Plans
A Global Business Travel Association (GBTA) poll shows the Iran‑Israel conflict is straining corporate travel, with 76% of ticket‑purchasing decision‑makers reporting moderate or significant impact and 83% of travel suppliers seeing material effects on customers. Half of firms have altered...
Business Leaders Recast Insurance as Strategic Resilience Tool, Not Just a Cost
A new WBN‑MarshBerry study finds 43% of executives now view commercial insurance as a performance driver, while only 3% treat it as a mere expense. Cybersecurity, AI and economic volatility top the risk agenda, with 48% citing cyber threats as...
New Study Suggests Federal Action to Cut Rising Insurance Costs
A Vanderbilt Policy Accelerator analysis, obtained by the AP, finds U.S. insurers are overcharging by roughly $150 billion annually, citing a loss‑ratio drop to 62 cents per $1 premium in 2024 versus 80 cents in the 1980s‑90s. The report proposes federal loss‑ratio guardrails...
Reserv Raises $125M to Transform Insurance Claims
Reserv, the New York‑based AI claims platform, closed a $125 million Series C round led by KKR, with participation from Bain Capital Ventures, Flourish Ventures and strategic insurers. The funding comes as the company reports $100 million in annual recurring revenue just four...
Sedgwick Announces Omni, a Fully Integrated Digital Ecosystem for Claims
Sedgwick unveiled Omni, a fully integrated digital ecosystem that combines its massive claims data set with purpose‑built AI and machine learning. The platform automates document summarization, digital triage, severity modeling, reserving, fraud detection and quality oversight, aiming to deliver faster,...
Ebix Risk Launches Next Generation AI-Powered Certificate of Insurance Compliance Platform to Close the Loop on Vendor Risk
Ebix Risk unveiled Ebix COI, a next‑generation AI‑powered certificate of insurance platform that moves beyond simple data extraction to validate coverage against actual contract terms and drive deficiency resolution. The solution combines Policy & Contract Intelligence, an AI Assist Agent,...