The BI Top 10 for the Week of Feb. 23, 2026

Why It Matters

These developments intensify broker competition, accelerate consolidation, and underscore emerging AI liability and regulatory cost pressures that will reshape underwriting profitability across the insurance sector.

Key Takeaways

• Howden expands U.S., faces Marsh injunction.
• AI claims rise, policy wording unchanged.
• Swiss Re acquires QBE trade‑credit business.
• Nevada raises workers’ comp loss costs 21.6%.
• Willis creates data‑center insurance unit.

Pulse Analysis

Howden’s push into the United States reflects a broader trend of broker firms seeking scale through geographic diversification. By hiring a former Aon regional head and confronting Marsh in court, Howden aims to solidify its market share, while Marsh’s partial injunction underscores the litigious environment that can accompany talent migrations. Industry observers like Baldwin note that the once‑favorable “Goldilocks” conditions for brokers are fading, prompting firms to double‑down on strategic hires and niche product launches.

At the same time, AI‑driven losses are emerging as a new underwriting challenge. A recent survey revealed an uptick in AI‑related claims, yet policy wordings have not kept pace, leaving insurers exposed to ambiguous coverage gaps. Coupled with Nevada’s 21.6% increase in workers’ compensation loss costs, regulators are signaling that cost pressures will intensify, forcing carriers to refine pricing models and risk assessments for emerging technologies.

M&A activity remains a catalyst for market reshaping, highlighted by Swiss Re’s acquisition of QBE’s trade‑credit and surety business, a deal that expands its specialty portfolio and strengthens balance‑sheet capacity. Meanwhile, Willis’s launch of a data‑center insurance group taps into the growing demand for cyber‑resilient infrastructure coverage. These moves illustrate how insurers are leveraging both organic growth and strategic acquisitions to capture high‑margin niches and stay ahead of evolving risk landscapes.