Insurtech Reliance Global sells benefits units, cuts debt by over 50%
Reliance Global completes sale of two benefits units, applies half the proceeds to debt reduction, and refocuses investment on digital platforms
Insurance News
New Jersey Senate backs pet insurance bill to curb premium growth
New Jersey lawmakers advance pet insurance legislation adding transparency, limits on preexisting condition denials, and new consumer protections
New York curbs litigation funding with new insurance consumer law
New York enacts the Consumer Litigation Funding Act, capping fees, adding oversight, and aiming to limit insurance cost pressures
Alabama hospital blames BCBS Alabama underpayments for bankruptcy
Jackson Hospital sues Blue Cross Alabama for over $250mn, alleging monopolistic reimbursement practices drove it into bankruptcy
Florida approves 124k Citizens policy transfers as market steadies
Florida regulators approved six insurers to assume over 124,000 Citizens policies, continuing depopulation as the state market stabilizes
JAB Insurance to buy Utmost UK life and pensions platform
JAB Insurance agrees to acquire Utmost’s UK life and pensions arm, gaining £5bn in assets and a foothold in the bulk annuity market
Louisiana insurer nonrenewals barely rise after rule repeal
New data shows Louisiana insurers have largely avoided mass policy cancellations despite repeal of the three-year homeowner protection rule
Trupanion-owned American Pet Insurance names Pawp as insurance agent
Pawp enters carrier distribution as American Pet Insurance appoints it as an agent, expanding beyond tele-vet into regulated pet insurance
Alpha Bank plans Cyprus insurance merger to form top-three group
Alpha Bank agrees terms to merge Universal Life and Altius Insurance, targeting a top-three position in Cyprus life and non-life markets
Pennsylvania House backs real-time auto insurance tracking bill HB 710
Pennsylvania lawmakers unanimously advance HB 710 to modernize auto insurance verification and curb erroneous registration suspensions
GlobalData flags AI, cyber and climate as 2026 insurance drivers
GlobalData says AI, cyber insurance, and climate risk will shape insurance markets in 2026, reshaping products, M&A, and profitability
Wildfire risk drives Montana insurance hikes, report outlines fixes
A Headwaters and Columbia Climate School report flags wildfire risk as an urgent driver of Montana insurance costs and maps potential market reforms
US Department of Agriculture rolls out major crop insurance overhaul for 2026 season
USDA finalizes crop insurance reforms for 2026, easing rules, expanding access, and updating subsidies as part of a broader deregulation push
Kentucky court backs Westport on timing of wrongful conviction cover
Kentucky’s Supreme Court ruled occurrence-based law enforcement policies trigger at charge filing, not incarceration, backing Westport in a coverage dispute
Pre-arranged disaster finance hits $9.4 bn, insurance gap widens for poorest
Pre-arranged disaster finance reached a record $9.4bn in 2024, but low-income and fragile states still receive less than 7% of support
Getlink secures €55 mn insurance payout for ElecLink outage
Getlink agrees €55mn insurance settlement covering ElecLink losses after a 2024–2025 shutdown of the Channel Tunnel power interconnector
German life insurance sector run-off deals to accelerate in 2026 – Fitch
Fitch expects faster consolidation in German life insurance as closed-book sales rise, with up to EUR25bn in run-off transactions possible
Fitch Ratings keeps neutral view on U.S. P&C insurers into 2026
Fitch Ratings holds a neutral 2026 outlook for U.S. P&C insurers, citing solid underwriting, stable earnings, and manageable macro headwinds
Fitch Ratings sees neutral 2026 outlook for LatAm insurance market
Fitch Ratings sets a neutral 2026 outlook for Latin American insurers, flagging Mexico as deteriorating amid tax reforms and margin pressure
U.S. Senate bill would tighten FSOC steps before nonbank SIFI calls
A bipartisan Senate bill backed by insurers would raise the bar for FSOC before labeling nonbanks as SIFIs and expand state regulator inpu
New York State Insurance Fund cuts disability premiums by 28%
New York State Insurance Fund lowers standard disability premiums by 28%, pushing rates among the lowest in the state for 2026
North Carolina miner sues Zurich Insurance unit over $130 mn Hurricane Helene losses
Sibelco North America sues Zurich American for $130mn, alleging unpaid property damage and business interruption from Hurricane Helene
Cove Risk data breach hits 49,400 in workers’ comp sector
Cove Risk Services reports a data breach affecting almost 49,400 people after unauthorized system access, with sensitive personal and health data exposed
Geico names Nancy Pierce CEO as Todd Combs exits for JPMorgan
Geico appoints longtime executive Nancy Pierce as CEO, replacing Todd Combs, who departs to lead a $10bn JPMorgan investment group
Hildene Capital Management to buy Silac Insurance for $550 mn in cash deal
Alternative asset manager Hildene Capital Management has signed a definitive agreement to acquire annuities provider Silac Insurance for $550mn in cash
AM Best keeps U.S. commercial P&C insurance outlook stable on profits, yields
AM Best holds a stable outlook for U.S. commercial P&C insurance, citing strong underwriting, solid capital, and higher investment returns amid claims pressure
New York court backs denial of workers comp claim over lawyer-doctor call
A New York appellate court upheld denial of a workers comp claim, ruling a lawyer’s call to a doctor justified excluding medical evidence
Wildfire cat bonds draw ILS investors as modeling improves, issuance jumps
Investors move into wildfire-linked cat bonds as modeling improves, driving over $5 bn in issuance and pushing the market toward $60 bn in 2025
US home insurance shows stabilisation after years of sharp hikes
Matic data shows US home insurance rates rose 8.5% in 2025, down from 18% in 2024, pointing to stabilisation despite record premiums and climate risk
Singapore leads TPRM maturity yet vendor cyber breaches keep rising
BlueVoyant data shows Singapore ranks among the world’s most mature TPRM markets, yet 93% of firms still suffered supply-chain cyber breaches
North Carolina sets May 2026 hearing on 68.3% dwelling insurance rate hike
NC Insurance Commissioner schedules a May 2026 hearing after rejecting a proposed 68.3% average increase in dwelling insurance rates
81% of small firms hit by cyber incidents as AI fuels attacks
ITRC data shows 81% of small businesses suffered cyber incidents last year, with AI-driven social engineering overtaking insiders as the main cause
California jury hits Liberty Mutual with $103 mn age bias verdict
A California jury awards $103mn against Liberty Mutual after finding age discrimination in the firing of a long-time claims case manager
Citizens seeks 2.6% insurance rate cut as Florida reforms steady market
Florida’s insurer of last resort requests a 2.6% personal lines rate cut, citing legal reforms, depopulation gains, and stabilizing conditions
State Farm faces probes over California wildfire claims delays
State Farm says it paid $5 bn after California wildfires as Los Angeles County and state regulators investigate claim delays and possible AI use
Florida Citizens Property Insurance enrollment sinks after reforms reshape market
Enrollment at Florida’s insurer of last resort has fallen sharply, as lawmakers credit legal reforms with restoring competition and stabilizing property insurance
Beneva shifts auto products to Guidewire APD with GFT support
Beneva completes early Guidewire APD conversion for auto insurance, cutting timelines in half and unlocking faster digital product changes
US House blocks ACA subsidy extension as premiums set to rise
Expanded ACA subsidies are set to expire after a narrow House vote, leaving millions facing higher health insurance costs amid party infighting
Pinpoint Predictive partners with Trexis Insurance to optimize auto payments
Trexis Insurance deploys Pinpoint Predictive’s loss models to tailor payment plans, cut downpayments, and lift premium output during quoting
John Garamendi attacks California insurance chief over premiums, drops
Former insurance commissioner John Garamendi accuses Ricardo Lara of failing California consumers amid rising premiums, policy nonrenewals, and insurer profits
California court limits insurance commissioner’s power over FAIR Plan
A California appeals court says the insurance commissioner can’t force the FAIR Plan to add liability-style coverages beyond basic property insurance
Millions of UK travellers hide medical conditions on travel insurance
One in four UK travellers conceal medical conditions to cut travel insurance costs, risking rejected claims and massive overseas medical bills
Toyota launches brand-only motor insurance for Ireland drivers
Toyota enters the Irish insurance market with exclusive cover for Toyota and Lexus drivers, partnering with Wrisk Europe amid weak competition.
Chubb plans up to 20% workforce cut tied to digitisation push
Chubb expects to reduce headcount by as much as 20% over four years as automation spreads across underwriting, claims, and support functions
Florida approves pet insurance rate hikes averaging 9.25%
Florida regulators approved 12 pet insurance rate increases this year, averaging 9.25%, as veterinary costs continue to rise faster than inflation
Australia’s competition regulator blocks IAG bid for RAC Insurance
Australia’s competition regulator opposes IAG’s planned takeover of RAC Insurance, warning it would weaken motor and home insurance competition in WA
Flood insurance drops nationwide as Florida holds firm, study finds
A new study shows flood insurance policies falling across the US under Risk Rating 2.0, while Florida adds coverage as affordability strains the federal program
London dental insurance fraud trio avoid immediate jail
A struck-off dentist and her two children were convicted over a £350k dental insurance fraud in North London but received suspended sentences
Ageas UK and Saga launch 20-year insurance partnership for over-50s
Ageas UK and Saga plc roll out a 20-year affinity deal, launching motor insurance now and home cover in early 2026 for over-50s customers
New Zealand home insurance costs diverge by region and risk
NZ home and contents insurance costs show uneven regional shifts as insurers apply finer risk-based pricing, with Canterbury and Wellington moving differently
MetLife Pet Insurance integrates cover into pet adoption process
MetLife partners with Petstablished to embed pet insurance quotes into adoption and registration, aiming to cut surprise vet costs from day one
NFP acquires P&C broker Hamilton Insurance to expand senior care focus
NFP, an Aon company, acquires Hamilton Insurance Agency in Virginia, adding senior housing and long-term care expertise to its P&C platform
Geopolitics and climate strain global marine insurance – Kennedys warns
Kennedys warns geopolitical tension, climate volatility, trade disputes, and post-Brexit rules are reshaping risk and claims pressure in marine insurance
Aon adds ERN Latin America catastrophe models via Oasis LMF
Aon’s Impact Forecasting delivers ERN Latin America catastrophe models through Oasis LMF, expanding open modelling options for (re)insurers
Cyber insurance set to become mandatory as threats escalate – Kennedys’ report
Kennedys predicts cyber insurance will shift from optional to mandatory as supply-chain attacks rise and boards face direct regulatory pressure
Canada Life UK completes £330m buy-in with Comet Pension Scheme
Canada Life UK secures benefits for 4,500 members through a £330m full-scheme buy-in with the Comet Pension Scheme backed by Fnac Darty
IFC to take 20% stakes in VIG’s Ukrainian non-life insurers, USG and Kniazha
IFC plans to invest in two Vienna Insurance Group insurers in Ukraine, backing growth, digitalisation, and insurance capacity ahead of reconstruction
UK motor insurers face losses by 2026 as premiums fall – EY
EY expects UK motor insurance to break even in 2025 and slip into losses in 2026 as inflation and repair costs outpace pricing
Nippon Life Insurance moves to acquire MDV to expand health data strategy
Nippon Life launches a tender offer for Medical Data Vision, aiming to deepen use of health data and analytics across insurance and healthcare
J.P. Morgan sees softer pricing cycle for European P&C insurance in 2026
J.P. Morgan expects easing property cat reinsurance rates and weaker pricing momentum across European P&C through 2026
Insurance policies often cover dog bite liability, providing financial protection for the owner against claims from bites or other injuries caused by their dog
Growing demand for pet insurance policies and rise in need for financial safety in case of surge in boost the growth of the global pet insurance market
A recent survey pet insurance buyers in the UK about their feelings on pet insurance pricing, availability, products and service offering
Pet insurance is a service for pet owners seeking a financial safety net in case their animal gets sick or injured and requires expensive veterinary treatment