Only 3 in 10 Americans Review Insurance Annually, Says Big I Survey
A recent Big I survey reveals that only three in ten Americans review or shop for insurance each year, despite nine‑in‑ten rating insurance as important or somewhat important. Most policyholders act reactively, waiting for premium increases or major life events before revisiting coverage. The study highlights the critical role of independent agents, with 87 % of respondents saying agents are very or somewhat important. Insurers are tightening underwriting and raising premiums amid higher claims from severe weather, inflation and litigation, making annual reviews increasingly vital.
Markets/Coverages: Coalition Provides Expended Cyber Protection in Canada
Coalition, a San Francisco‑based cyber insurer, launched its Active Cyber Policy in Canada, expanding coverage to address ransomware, AI‑enabled fraud and heightened regulatory scrutiny. The policy bundles popular endorsements, offers optional separate limits for breach response, and introduces financial incentives for...
Top Africa Insurer Sanlam Flags ‘Massive’ Risks From Iran War
Sanlam Ltd., Africa's largest insurer, warned that the protracted Iran war poses massive risks to its performance across 27 countries. The conflict is driving higher fuel prices, inflationary pressure and rising borrowing costs, which the CEO said will curb new...
Prices for New Cars Have Soared. Here’s One Big Reason Why
New‑car prices in the United States have surged to an average of about $47,000, a 40 % increase since 2018, as manufacturers prioritize larger, higher‑margin SUVs and trucks over entry‑level models. The number of budget‑friendly models priced near $20,000 has slipped...
Former Michigan Linebackers Coach Sues University Over Firing
Former Michigan linebackers coach Chris Partridge filed a federal lawsuit alleging wrongful termination and a violation of his Fourteenth Amendment due‑process rights after being dismissed during an NCAA sign‑stealing investigation. The suit targets the university, its board of regents and...
Coast Guard and First Responders Battle Fire on Scrap Metal Barge in Delaware Bay
A scrap‑metal barge caught fire in Delaware Bay on March 11, 2026, prompting a multi‑agency response. The U.S. Coast Guard moved the vessel to shallow water and towed it two miles off Maurice River Cove to protect the main ship channel. A...
CRC Group CEO on Casualty: ‘It’s More About the Coverage’ Than Price
CRC Group CEO Dave Obenauer told Zywave’s Casualty Insights Conference that insurers should prioritize coverage over price, especially as AI and data analytics reshape underwriting. He noted that while casualty rates have moderated, loss trends driven by large settlements and...
Fund Trying to Turn New Mexico Desert Into an Advanced Tech Hub
New Mexico's sovereign wealth fund is backing a $1 billion Pacific Fusion project to build a desert‑based fusion research facility, while also pouring hundreds of millions into venture funds targeting defense and advanced tech. The fund’s revamped private‑equity program has posted...
Louisiana Regulation Sets Mandatory Discounts for Fortified Homes
Louisiana's Department of Insurance adopted Regulation 136, requiring insurers to offer hurricane‑only premium discounts to homes that achieve the IBHS Fortified designation. Discount rates differ by geographic zone and Fortified tier, ranging from 16 % in the north to 49 % in the...
7th Circuit: Church Not Owed Replacement-Cost Payment for Fire Damage
The 7th Circuit Court of Appeals ruled that Church Mutual does not owe Lighthouse Tabernacle Church replacement‑cost insurance for fire damage because the policy required the insured to begin repairs promptly, which the church failed to do. The insurer had already...
Insurify’s Founders Discuss Evolution of Insurance Shopping With AI
Insurify launched the first AI‑powered insurance app on OpenAI’s directory, prompting a brief dip in the S&P 500 Insurance index. The founders emphasized the rollout as an evolutionary step rather than a disruptive threat, noting that the app currently provides estimated...
Anthropic Sues to Block Pentagon Blacklisting Over AI Use Restrictions
Anthropic filed a federal lawsuit on March 9 to block the Pentagon’s national‑security blacklist and supply‑chain risk designation, arguing the actions violate its free‑speech and due‑process rights. The Pentagon labeled the AI lab a risk after Anthropic refused to remove guardrails...
Florida House Gives Final Approval to Much-Debated Citizens Clearinghouse Bill
The Florida House approved Senate Bill 1028, establishing a clearinghouse to transfer Citizens Property Insurance commercial policies to admitted and surplus‑line carriers. The measure passed 88‑19 despite objections from agents, brokers, and the state insurance commissioner. Amendments added regulatory oversight...
Study Analysis: AI May Be Tempering Insurer Hiring
A recent Aon and Jacobson Group study shows 43% of insurers plan to keep staffing steady in the next 12 months, a 15‑year high. The trend coincides with a sharp decline in job openings, which dropped to 138,000 in December...
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...
Plane That Crashed in Maine Spent Too Long on Runway After Deicing, NTSB Says
A private Bombardier Challenger 600 crashed in Bangor, Maine on Jan. 25, killing six after exceeding FAA deicing holdover limits. The NTSB preliminary report shows the aircraft waited 17 minutes on the runway, eight minutes longer than the 9‑minute guideline. Cockpit...
Search Ends for Survivors After Fishing Vessel Sank Off Cape Cod, Killing 2
The commercial fishing vessel Yankee Rose capsized just after noon on Thursday, three nautical miles northeast of Race Point in Provincetown, Massachusetts. Coast Guard units and local responders arrived within minutes, recovering one crew member who later died, while the...
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...
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....
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...
People Moves: Ryan Specialty Underwriting Managers Promotes in RFL Exec Team
Ryan Specialty Underwriting Managers announced three senior promotions within its Ryan Financial Lines (RFL) division. Deborah Egel‑Fergus was named president of lawyers errors‑and‑omissions, succeeding retiring veteran Kevin Sullivan. Brooke Tanner was elevated to chief claims officer for North America, overseeing...
Property, Auto Insurance Shopping Up as Consumers Feel Economic Pressures
Consumers are intensifying year‑round shopping for auto and property insurance, defying traditional seasonal patterns, according to TransUnion’s Q1 2026 Personal Lines Trends report. Auto insurance searches rose 10.6% year‑over‑year in Q4 2025, while property insurance activity increased 5.3% over the same period....
What Berkshire’s CEO Abel Said About Insurance
Berkshire Hathaway’s new CEO Greg Abel disclosed a sharp decline in 2025 underwriting profit, with GEICO alone responsible for more than half of the $1.9 billion drop. Across all property‑casualty units pretax underwriting profit fell 16.5% to $9.7 billion and combined ratios...
Georgia Insurance Law Is About to Get an Upgrade With Multiple Changes
Georgia’s House passed HB 1344, a sweeping insurance reform moving to the Senate, targeting lower premiums and stronger consumer protections. The bill raises fines for insurers and auto‑fraud perpetrators, expands the insurance commissioner’s investigative powers, and creates a $6,000 matching...
Baldwin Posts Fourth Quarter Loss; Carlisle Takes Over Underwriting Group
Baldwin Insurance Group posted a Q4 loss of $25.9 million, or 37 cents per share, widening its annual deficit to $33.8 million. Revenue slipped to $347.3 million, missing Zacks analysts’ $354.3 million estimate. CEO Trevor Baldwin signaled a turnaround for 2026, while Amy Carlisle took...
UK Appoints Barclays Executive as Top Bank of England Regulator
The UK government appointed Katharine Braddick, a former regulator now Barclays group head of strategic policy, as the Bank of England's deputy governor for prudential regulation. Her five‑year term begins on July 1, 2026, succeeding Sam Woods. The move follows finance...
State Farm to Issue $136M in Dividends to Louisiana Drivers
State Farm announced a $136 million dividend distribution to Louisiana personal auto policyholders, averaging $138 per vehicle. The payout follows a stronger‑than‑expected underwriting performance nationwide and a 5.8% drop in Louisiana auto premiums in 2025. The dividend will be issued this...
US Judge Again Refuses to Allow New Hampshire to Abolish Auto Inspections
A federal judge denied New Hampshire's request to stay a court injunction that blocks the state from abolishing its vehicle inspection and maintenance (I/M) program. The injunction remains in force until the EPA approves the state's plan to meet Clean...
San Diego Approves $6M Settlement With Insurers for Flood Damage
San Diego’s city council approved a $6 million settlement with 17 insurers to resolve subrogation claims stemming from the January 2024 floods. The payment, drawn from the city’s self‑insurance program, concludes part of a broader litigation wave accusing the municipality of neglecting...
Mexico’s Cartel Violence Could Hit Economy and Insurance Segment: AM Best
Cartel violence erupted in Mexico after the killing of leader Nemesio Oseguera Cervantes, halting flights and disrupting tourism in Puerto Vallarta. Tourism, which contributes about 10% of Mexico’s GDP, faces short‑term setbacks and longer‑term perception risks. AM Best issued a negative...
FIGA Moves to End 1% Assessment for Insolvent Insurer Claims 2 Years Early
The Florida Insurance Guaranty Association (FIGA) announced it will terminate the 1% emergency assessment on homeowners and commercial policies two years ahead of schedule, effective Oct. 1. The early end is attributed to a calm 2025 hurricane season, absence of insurer...
Tech Update: Zywave Unveils 4 New AI Agents; Cytora, Warren Group Partner to Improve Commercial Property Underwriting
Zywave unveiled four AI agents in its Winter 2026 release, already deployed with more than 35 insurance firms. The agents automate prospect identification, lead scoring, research enrichment, and outreach, while new platform features add TurboRater single sign‑on and expanded Benefits CPQ...
ECB Steps Up Scrutiny of European Banks’ AI Industry Exposure
The European Central Bank has launched a focused inquiry into banks’ exposure to the artificial‑intelligence sector, requesting detailed loan information on data‑center financing and related AI firms. Parallel workshops are probing how banks deploy generative AI, covering governance, business models...
High Court Ruling on Trump Tariffs to ‘Ease Uncertainty,’ Says AM Best
The U.S. Supreme Court issued a 6‑3 decision rejecting President Donald Trump’s authority to impose sweeping tariffs, a move hailed by rating agency AM Best as a relief for the insurance sector. The court’s ruling eliminates the tariff‑related uncertainty that has...
LA Fire Victims Suing City Utility for Billions Win Major Ruling
Los Angeles Superior Court Judge Samantha Jessner ruled that the Los Angeles Department of Water and Power can be sued for failing to supply sufficient water during the 2025 Pacific Palisades wildfire. The decision rests on a California law that...
Marsh Risk Launches Excess Casualty Facility for US Digital Infrastructure
Marsh Risk has introduced Nimbus Casualty, an excess general liability facility targeting U.S. digital infrastructure construction projects. The new program offers up to $75 million of coverage with a $25 million attachment point and is underwritten by a consortium of Lloyd’s and...
Georgia Supreme Court Disbars Workers’ Comp Attorney for Taking Client Funds
The Georgia Supreme Court disbarred workers’ compensation attorney Bryan Matthew Pritchett after an investigation revealed he forged client signatures and diverted nearly $160,000 in settlement funds. Pritchett, suspended in 2024, must repay over $104,000 to one client and additional amounts...
Lemonade Books Q4 Net Loss of $21.7M as Customer Count Grows
Lemonade reported a Q4 2025 net loss of $21.7 million, an improvement from the $30 million loss a year earlier. Revenue surged 53% and gross profit rose 73% year‑over‑year, while operating expenses climbed 13% to $141.2 million as the company invested in customer acquisition....
Business Moves: BayPine to Acquire Broker Relation From Aquiline
Inszone Acquires Texas’ Scarbrough, Medlin & Associates
Houston Companies to Pay $200K to Workers Fired for Asbestos Concern
The U.S. Department of Labor’s Occupational Safety and Health Administration ordered two Houston construction firms, Rise Construction LLC and Niko Group LLC, to reinstate two workers they fired for raising asbestos safety concerns during a hotel repair after Hurricane Beryl....
Bayer to Make $10.5 Billion Push to Settle Roundup Cases
Bayer AG is set to announce a $10.5 billion settlement initiative to resolve Roundup litigation, combining a $7.5 billion class‑action proposal in Missouri with $3 billion for existing U.S. cases. The German conglomerate has already spent more than $10 billion on verdicts and settlements...
