U.S. Senate extends the Terrorism Risk Insurance Program through 2034
U.S. Senate passes S. 4395 by unanimous consent to extend the Terrorism Risk Insurance Program through 2034, beyond its current 2027 expiration
Insurance News
Latest Insurance news of insurers & global insurance industry. Explore latest insights, trends and breaking insurance market news from Beinsure Media. Insurance News delivers current updates and outlooks in the insurance industry, section provides timely coverage of significant events, regulatory changes, and market trends that impact insurers and policyholders.
KPMG research finds 77% of insurers fear AI inaction will hurt competitiveness
KPMG research finds 77% of insurers fear AI inaction will hurt competitiveness, while most spending still targets routine work and efficiency
92% of insurers use AI to cut costs, but only 25% target growth – KPMG
KPMG finds 92% of insurers use AI to improve productivity and cut costs, while only 25% apply it to new products, services and revenue growth
Hurricane Polo remnants bring flood watch across New Mexico
Hurricane Polo remnants and moisture from Tropical Storm Odalys bring heavy rain and flash flood risk across New Mexico through Tuesday night
FDA chlorthalidone dissolution testing recall: Inventia Healthcare recalls 13,567 bottles
FDA chlorthalidone dissolution testing recall covers 13,567 bottles from Inventia Healthcare after 25 mg tablets failed dissolution specifications
SiriusPoint and Sutton Special Risk launch SportsSecure for college athletics
SiriusPoint, a specialty underwriter, and Sutton Special Risk launch SportsSecure to cover injury-related NIL and revenue-sharing exposures in college sports
Tropical Storm Hanna formed in the central subtropical Atlantic Ocean
Tropical Storm Hanna forms east-northeast of Bermuda with 45 mph winds. NHC expects little change in strength, with no threat to land
Kelvin wave tied to El Niño is moving toward California, increasing coastal flood risk
A Pacific Kelvin wave tied to El Niño is moving toward California, with sea levels expected to rise by up to 1 foot and increase coastal flood risk
Lloyd’s Veterans Charity awards £850K to 9 groups supporting veterans’ mental health
Lloyd’s Veterans Charity awards £850,000 to nine organisations supporting veterans’ mental health and employment across the UK
Nor’easter brings flood and wind losses across US East Coast
A strong nor’easter brings coastal flooding, heavy rain and damaging winds across the US East Coast, with further rain expected in the Northeast
EigenRisk adds Swiss Re CatNet hazard data to EigenPrism
EigenRisk adds Swiss Re CatNet hazard data to EigenPrism, giving insurers, MGAs and brokers access to global catastrophe risk analytics in one platform
ANV acquires Car Care Plan from AmTrust Financial Services
ANV Group completes its acquisition of UK vehicle warranty MGA Car Care Plan from AmTrust, adding operations across Europe, the US, Turkey and China
National Life adds new index options to SummitLife Indexed Universal Life Insurance product
National Life Group adds Bloomberg MAVIN 10, Nasdaq 100 Multi-Asset Edge 8% and new S&P 500 crediting options to its SummitLife IUL product
Australia surcharge ban cuts credit card travel insurance perks
Australia’s card surcharge ban starts October 1 as banks raise fees, trim rewards and reduce travel insurance benefits to offset lower interchange income
SpaceX Starship reaches orbit under $500 mn launch liability insurance cover
SpaceX Starship reached orbit for the first time and deployed 26 Starlink V3 satellites, adding fresh data for launch, satellite and liability insurers
Delta emergency landing in Portugal raises aviation insurance exposure
Delta flight DL251 from Barcelona to Boston made an emergency landing in Porto after smoke filled the cabin, with three passengers taken to hospital
RAF Fairford terror probe puts UK terrorism insurance in focus
Five arrests near RAF Fairford put UK terrorism insurance in focus as police examine explosives, possible Iran links and risks to nearby businesses and property
ERGO rolls out internal GPT AI platform across insurance workforce
ERGO has rolled out its internal ERGO GPT platform to all employees, combining generative AI with mandatory training, privacy controls and regulated use
Heirs Insurance launches multilingual GenAI assistant Prince AI in Nigeria
Heirs Insurance launches Prince AI, a multilingual generative AI assistant for policy purchases, renewals, claims and insurance support in Nigeria
Sun Life Insurance expands AI tools for financial advisors in Canada
Sun Life expands AI tools for Canadian financial advisors with Notes Assistant and an AI concierge, cutting admin time and speeding access to client information
Google Cloud launches Gemini Enterprise for insurance and financial services
Google Cloud launches Gemini Enterprise for Financial Services with AI agents, 50+ finance skills, 13 data connectors and Deutsche Bank deployment plans
Korea life insurance association brings AI into core operations
South Korea’s life insurance association is deploying AI for complaints, ad reviews, internal rules and licensing exam questions, with 17 use cases planned
Prudential Hong Kong launches AI underwriting tool with Alibaba Cloud
Prudential Hong Kong has launched an AI underwriting tool with Alibaba Cloud, providing preliminary guidance within minutes with over 95% accuracy
PureHealth launches AI system for Daman health insurance
PureHealth launched an AI-powered system for Daman that will process more than 60 mn insurance documents a year and cut turnaround times to minutes
Mosaic Insurance launches AI underwriting platform Halo for SME risks
Mosaic Insurance launched Halo, an AI-powered underwriting platform designed to bring complex specialty insurance products to SME brokers and clients
Massachusetts auto insurers may withhold MedPay for health-covered bills
Massachusetts Appeals Court upheld Commerce Insurance’s denial of MedPay benefits for medical bills already paid through an insured’s health plan
Delaware insurance agent jailed after stealing $625K from clients
NAIC defended US state insurance regulation after Elizabeth Warren raised concerns over private credit, affiliated investments and insurer solvency
State Farm to expand claims workforce by 3,000 employees in 2027
State Farm plans to expand its claims workforce by 10% in 2027, adding about 3,000 roles as claim volumes and technical demands rise
Catastrophe insurance gap persists as reinsurance capacity grows
Reinsurance capital hit a record $785 bn, yet 57.8% of global catastrophe losses went uninsured from 2015 through 2025, Moody’s found
Australian EV demand rises to 31% in 2026 as running costs drive interest
EV consideration in Australia rose to 31% in 2026 as lower running costs, wider model choice and charging access reshape household buying decisions
Insurance Australia Group settles A$2.8 bn Credit Suisse claims over Greensill
IAG agreed to settle A$2.8 bn in Credit Suisse claims linked to Greensill insurance policies, with no material impact expected on FY2027 results
Insurer PZU is examining an alternative restructuring with Bank Pekao
Poland is examining a new structure for PZU and Bank Pekao after legal changes needed for their planned merger ran into presidential veto risk
NAIC tightens oversight of private credit and insurer investments
NAIC details tougher oversight of private credit, insurer investments, ratings and reinsurance as regulators respond to more complex life insurance assets
Centers for Medicare & Medicaid Services cancels ACA coverage for 760K people
CMS canceled 315,000 ACA Marketplace enrollments covering 760,000 people and froze new broker registrations as part of a federal anti-fraud review
Airport strikes across Australia test travel insurance exclusions
Airport strikes across Australia put travel insurance exclusions under scrutiny as policy timing determines cover for delays, cancellations and extra costs
Offshore energy insurance premiums hit $4.8 bn as margins tighten
Global offshore energy insurance premiums reached $4.8 bn in 2025 as excess capacity, rising attritional claims and renewables pressure margins
Florida homeowners insurance rates fall as more insurers seek cuts
Florida homeowners insurance rates are easing as regulators approve cuts, more insurers enter the market and premiums decline across 51 counties
Colorado health insurance premiums to rise 10-14% in 2027
Colorado approved 2027 health insurance increases averaging 10% for individual plans and 14% for small groups, with Grand Junction up 15.5%
Relation Insurance acquires Pennsylvania-based LaPlaca Insurance
Relation Insurance acquired LaPlaca Insurance, adding a Pennsylvania agency serving commercial, employee benefits and personal lines clients
Hawaii urges insurance checks as Hurricane Nolo approaches
Hawaii regulators urge residents to review hurricane, flood, renters and auto insurance as Hurricane Nolo approaches the islands
IRDAI proposes insurance distribution overhaul and lower expense caps
IRDAI proposes new insurance distribution rules covering commissions, lower EoM limits, mis-selling controls and a simpler three-tier structure
Saudi Arabia approved war-risk insurance pool for cargo and vessels
Saudi Arabia approved a national marine war-risk insurance pool led by Saudi Re to protect cargo, vessels and trade during geopolitical disruption
Tesla Insurance blocked in New York over Tesla-only auto coverage
New York regulators rejected Tesla General Insurance’s auto filing over Tesla-only eligibility, delaying the company’s insurance launch in the state
NJ Gov. Mikie Sherrill urges Lt. Gov. Dale Caldwell to resign over harassment probe
New Jersey Gov. Mikie Sherrill called on Lt. Gov. Dale Caldwell to resign after an investigation substantiated sexual harassment and ethics violations
LexisNexis and IMS bring on-device telematics to US insurers
LexisNexis and IMS integrated Drive Metrics with EdgeSDK, bringing on-device driving scores and lower-cost UBI infrastructure to US auto insurers
Washington proposes 4.9% workers’ comp insurance rate increase for 2027
Washington L&I proposed a 4.9% workers’ compensation rate increase for 2027, adding about $1.44 a week per full-time employee on average
Hurricane watch issued for Hawaii as Tropical Storm Nolo strengthens
Hawaii’s Big Island is under a hurricane watch as Tropical Storm Nolo strengthens, with up to 35 inches of rain and major flooding possible
Louisiana invests $100 mn in fortified roofs to reduce home insurance costs
Louisiana added $20 mn in federal funding for fortified roofs, bringing 2026 investment to $100 mn across programs aimed at storm damage reduction
Florida farm manager admits $3.25 mn crop insurance fraud
Florida farm manager Mark Frisbie agreed to plead guilty in a crop insurance fraud case and pay more than $3.25 mn in federal restitution
76% of New Zealand mid-sized firms faced cyber threats
NCSC research finds 43% of New Zealand SMEs feel vulnerable to cyber attacks, while 76% of firms with 20-49 staff faced threats or attacks.
New Zealand warns frontier AI will accelerate cyber threats by 2027
New Zealand’s NCSC says frontier AI is increasing cyber risk as serious incidents rise and criminals adopt AI for phishing, scams and reconnaissance
Truro Bonfire Night cancellation puts event insurance costs in focus
Truro cancelled its Bonfire Night for a second year as security, crowd controls and event costs made a 5,000-person fireworks display unaffordable
Admiral plans 500 UK insurance job cuts in £100 mn savings push
Admiral plans to cut about 500 UK insurance jobs, or 5% of its workforce, as the Cardiff insurer pursues £100m in annual cost savings
Social Security tax-only fix raises US worker costs by thousands as 2032 approaches
A tax-only Social Security fix would lift the combined payroll rate above 16%, increasing annual costs for workers and employers as 2032 approaches
Jonathan Taylor Thomas arrested after Westlake Village DUI stop
Jonathan Taylor Thomas was arrested during a Westlake Village DUI stop after deputies accused him of obstruction and public intoxication
Social Security faces 26% benefit cut under new CBO forecast
CBO projects Social Security’s retirement fund will run dry in 2032, leaving payroll revenue sufficient for only 74% of scheduled benefits
Social Security tax-only fix would raise payroll rate near 17%
A tax-only Social Security fix would lift the payroll rate from 12.4% to about 17%, adding $2,600 to $3,000 yearly for a median worker
California sets wildfire smoke damage rules for home insurers
California approved new wildfire smoke-damage rules covering insurer testing, remediation and mortgage relief after more than 13,000 claims
California insurers pledge new policies as FAIR Plan stays near 697,000
California insurers have committed to new policies under catastrophe-model rules, while FAIR Plan enrollment remains near 697,000 amid a dispute over progress
ACA broker freeze adds pressure as workers shift to employer health insurance
CMS canceled enrollments covering 760,000 people and froze new ACA broker registrations as higher Marketplace costs shift more workers toward employer plans
US employer healthcare costs will rise 9.5% in 2027, taking average annual spending above $19,000 per employee. The forecast extends a run of healthcare cost increases approaching double digits
California health insurance enrollment: learn Covered California deadlines, open enrollment dates, special enrollment options, subsidies and Medi-Cal eligibility
Finding affordable health insurance in California can be overwhelming. You’re faced with dozens of plan options, unfamiliar terms and questions about whether you qualify for subsidies through Covered California
Health insurance is an integral part of employee benefits packages in the United States. However, any employer federally required to provide this compensation could admit that their costs can be burdensome