Berkshire and Chubb Just Won Approval to Drop AI Coverage
State insurance regulators approved over 80% of AI exclusion filings submitted by Berkshire Hathaway, Chubb, Travelers and AIG, using three new ISO commercial general liability endorsements and carrier‑specific clauses. The approvals, effective Jan. 1, 2026, allow insurers to carve out AI risk from general liability, D&O and E&O policies. Chubb’s CEO highlighted the escalating AI and cyber risk race during its Q1 earnings call, underscoring the shift. The move mirrors the 1990s cyber carve‑out that later created a $15 billion specialty market.
Chubb and Fidelis Eat a $340 Million War Risk Loss
A London High Court ruled on May 13, 2026 that Chubb European Group and Fidelis Insurance Ireland cannot recover roughly $340 million paid under war‑risk policies for aircraft stranded in Russia after the Ukraine invasion. The insurers had paid $57.6 million and...
Weekly Moves: June 4
The Insurance Intelligence Council launched the P&C Commercial Tracker, a weekly carrier‑level database that aggregates state filings, rating agency data and market news for the U.S. commercial property market. It covers 1,480 insurers across Arizona, Florida, California, Texas, New York/New Jersey and...
Acrisure Now Owns the Shelf, the Algorithm, and the Channel
On April 28, 2026 Acrisure launched Ascendri Insurance Services, an MGA that writes excess‑and‑surplus homeowners coverage up to $10 million per home in California and distributes it exclusively through its wholesale platform Wholesure. The launch pairs with Vave, acquired from Canopius, which...
Citizens Just Shrunk Its Cat Bond by a Third
On April 21, 2026 Citizens Property Insurance issued a $450 million catastrophe bond while redeeming $1.1 billion of 2024 Everglades Re II bonds, cutting its capital‑markets protection by roughly one‑third as its Florida policy count fell 76% to 336,000. Six private carriers simultaneously...
California Is Renegotiating Rate Rules in Every Forum at Once
On April 20, California Insurance Commissioner Ricardo Lara submitted the first overhaul of Proposition 103’s intervenor compensation mechanism in 35 years, triggering a 30‑day review by the Office of Administrative Law. Three days earlier Consumer Watchdog filed a trial brief challenging more than $420 million...
Alternative Capital Just Decided Who Can Grow Property in 2026
Q1 2026 saw cat bond and insurance‑linked securities issuance reach $6.7 billion across a record 35 transactions, with $7.3 billion of maturities slated for April‑June. Guy Carpenter’s U.S. Property Catastrophe Rate‑on‑Line Index fell 14% year‑to‑date, underscoring pricing pressure. A historic $785 billion pool...
10% of P&C Insurers Are Pulling Away on AI
Capgemini’s 2026 World P&C Report finds only 10% of property‑and‑casualty insurers have successfully scaled artificial intelligence, and those “intelligence trailblazers” posted revenue growth 21% faster and share‑price gains about 51% higher than the rest over three years. The study reveals...
Chubb Walked Away From a Quarter of Its Property Book
Chubb slashed its large‑account property exposure by 55% in Q1 2026 while its North America Commercial segment still posted 7.3% growth. The insurer walked away from shared and layered property risks and bought extra reinsurance on the retained business. This shift...
Allstate, AIG, and Arch Just Posted Their Best Quarters in Years
Allstate, AIG and Arch Capital reported record Q1 2026 earnings, each posting dramatically higher net income and underwriting profit as hard‑market pricing and lower catastrophe losses flowed through. Allstate’s net income jumped to $2.4 billion, AIG’s underwriting income rose 219% to...
Weekly Moves: California Goes Live
Insurance Intel launched the P&C Commercial Tracker, a carrier‑level weekly monitor for the U.S. commercial property market covering Florida and California. The tool combines a baseline Carrier Directory of 368 insurers with a Weekly Moves layer that timestamps rate filings,...
The "Silent AI" Trap: Why Legacy Carriers Are Fleeing and Specialty Markets Are Cashing In
Legacy property‑and‑casualty carriers are stripping "silent" AI coverage from commercial renewals, creating an unpriced liability gap that mirrors the earlier silent‑cyber crisis. The retreat is driven by new ISO exclusion forms that explicitly remove AI risk from standard CGL and...
Berkshire, Chubb, and Travelers Are Removing AI Coverage
Berkshire Hathaway, Chubb, and Travelers have secured state approvals to embed AI exclusion clauses in their standard commercial liability policies, with regulators approving over 80% of such filings. The exclusions cover AI‑driven discrimination claims, intellectual‑property infringements, and damages from autonomous...
NEW: P&C Commercial Tracker
Intelligence Council launched the P&C Commercial Tracker, a carrier‑level database focused initially on Florida commercial property. The platform catalogs 169 carriers across 90 parent groups and provides a baseline directory plus a weekly moves feed that records rate filings, appetite...
Beazley’s $1B Hormuz Bet. Aon Expands Data Centers
Beazley announced a $1 billion Lloyd’s marine war consortium covering hull and cargo risks on ships transiting the Strait of Hormuz. Aon expanded its Data Center Lifecycle Insurance Program to $3.5 billion, adding coverage for construction, operational damage, cyber, and third‑party liability....